The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-11-25
Anaconda, Copper Giant of the World
Copper, Curb and Mining outlook

time that copper VIII be produced
from the tailings at a cost not to ex-
coed cents pound, and they have
never been denied; 1t is well to as
sumo that such condition is prob
able.
To permit of a larger production of
copper plants have been remodeled, q
new refinery erected and other extern
sions carried on at enormous expense
all of which is being paid for from the
earnings. The underground opera
lions are not being neglected. For
the past few years all the modern i'm
provements known to mining which
would be beneficial have been INSTALL
ed. Electricity is being Installed
throughout the mines, new shafts
made and of greater size than before.
In fact, the entire Butte mountain
owned by Anaconda, has been COM
pletely transformed both above and
underground and results are now be-
ing obtained In the cost sheets
Attention to Zinc.
It's entire interest Is not being con-
fined to copper, for, with the record
high prices being received for spelter
Anaconda Is giving more attention
than ever before to the production OF
zinc. It's mines always contained
zinc ores, but it was difficult to ex-
tract them except at heavy cost. It
controls the Alice mine and the Lex
ington and is understood to have taxi
en- an option on the Emma mine. A
plant is operating on zinc ores, but
official has yet been given out
as to the results.
Another new departure for Ana
conda is the production of sulphuric
acid. 1t put up plant and is now
turning out fair amount of acid
daily. War demand has advanced the
price of sulphuric acid and this is now
rejecting to some extent In Anacon-
da's earnings.
When 1t took over the International
Smelling and Refining company, Ana
conda at once became a big factor In
the smelling and refining field. 1t also
stepped into the production and sale
Of lead, as the International company
owns lead refinery in Chicago, while
a part of it's smelter at Tooele Is
equipped with a lead furnace. The
big Rartan refinery in New Jersey Is
also owned by the Anaconda company
The new smelter which first blew in
a few months ago for the smelling Of
Consolidated concentrates
and those from the Miami Copper
mills is owned by the An
aconda company.
Tremendous Production.
Controlling the smelling situation in
that part Of Arizona where are locat-
ed the Inspiration and Miami mines
Is the main argument favoring the
absorption of Inspiration by the Ana
conda company. Wall street gossip
is so far advanced that terms of the
probable acquisition are heard, they
calling for one share of Anaconda to
NC OAChtliSSu Aol ~ SldIeS VI lHSplT
alton. Inspiration some day will be
one of the heaviest producers of cop
per in the world. It is slated for an
annual outturn of 12O,OOO,O00 pounds
of copper at cost of close to cents
a pound. Anaconda's equipment for
its Butte mines is now rated at 300
100000 pounds or more of copper an
nually. Add to this probable 120,-
100000 pounds from Inspiration and
the position of Anaconda would be I'M
questioned as the leader for all times
among the worlds producers Of the
red metal-provided Anaconda took
Dver control and absorbed the Inspir-
alton company The best that is heard
from the Guggenheim offices regard
ing the Chile Copper company is 300,-
100000 pounds a year after year or
two when the milling capacity ie
raised to treat 10000 tons of ore daily
instead of 10000 tons, the present stat
ed capacity.
The Anaconda management has
never been free with It's copper costs
It Is always necessary to take paper
md pencil to figure out what the APP
oroximate cost of this copper is. Ever
then 1t is not always regarded as =
close estimate. Why the management
fails to follow the lead of some of its
newer competitors is hard to under
stand.
Earns SO Per Share.
Wall streets estimates places Ana
,onda's probable earnings at the mo-
nent OF 1S-cent copper at about 50
share. In 1918 they were equal to $125
4 share when the output was 93,000.-
700 pounds. Capital stock was then
$50, 100000, par value $25; now it has
!, 100000 shares, par value $50. There
ire also $16,OO0,OOO notes outstanding
which were issued to take over the
United Metals Selling company
During their existence the Amalga
mated shares were the stock market
eaders in the copper group; at times
they led the entire list. 1t was be-
ieved that with the passing of Anal
Anaconda would step into
he shoes of its predecessor, but this Is
not yet true. The newer and smaller
Inspiration has usurped that position
and its rise to close to $50 share be-
fore 1t is well on it's way as produce