The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-03-02

In an exhaustive review of the his
tory and romance of the upbuilding {
the Anaconda Copper Mining com
pany, Horace c. Baker, editor of tn
Copper Curb and Mining Outlool
brings out most strongly the reason
for the leadership Of Anaconda in tn
copper world. He says in part:
The early history of the Anacond
company forms one of the most inter
esting chapters in the story. Of the cop
per mining industry. Associated wit
Marcus Daily in the organization of
company, known then simply as
partnership, We're j. B. Haggin, Georg
Hearst and Lloyd Tevis. These mel
had their places, and conspicuous
place, in the industry, but it was tn,
genius of Mr.. Daily who made the name
of the mine he developed housewort
in Europe as we'll as America. The
partnership was succeeded by the An.
aconda Mining company, which in 1895
Mining company. The Amalgamated
Copper company was organized in 1898
to control the Anaconda and subsidiary
properties. These, in 1910, were merg-
ed into the Anaconda Copper Mining
company. Mr.. Daily was the first
president Of the Amalgamated Up
to the time of his death he was the
dominating spirit of the industry. A
heroic figure in bronze, the last work
of st. Gaudens was erected to his
memory in a commanding place on
Main street, Butte, but his greatest
monument is the city itself.
Anaconda, with the disappearance of
the Amalgamated, due to the dissolu
ton of the holding company enjoys
increased market favor and takes a
position as a market leader. The fact
should not be lost sight of that in this
change-over Anaconda shares repre-
sent direct ownership in the greatest
group of copper mines in the world
practically all of which are located in
the richest copper district yet discov-
cred. Anaconda shares have been
doubled in par value and the number
of shares outstanding have been cut
in halves. This is a favorable factor
adding to the banking strength of the
company.
Anaconda is earning now about $685.
100000 year or more than SO 2
share on its proposed capital Of 2,331,-
25O shares. The company's activities
are now more broad and varied than
ever in its history. 1t is a leader of
and electrical improve
ments. 1t is constantly adding to its
holdings in Butte and elsewhere. II
succeeds to all the functions of Anal
in its holdings of shares out
side of Butte and in it's copper metal
selling agency If present conditions
continue Anaconda will become in p
position to pay dividends of So a share.
Deep Mining in Butte.
Deep mining is the order of the day
at Butte. The High Ore mine, which
has the deepest shaft in the district
and is one of the richest properties of
Anaconda, has now reached a depth of
34OO feet. 1t is stated that the ore
bodies on the 34O0 are more valuable
than those uncovered on the upper
levels. 1t is beginning to be assured
That the mines of Butte will in time
operate shafts as deep as those of the
Lake copper region. Anaconda has its
electrical underground haulage equip
nent in good working order on all the
lower levels of the High Ore shaft
down to the 3OOO The electrical rail-
way is operating on the lower level.
Electrical equipment in all the Ana
'onda mines has supplanted horses and
mules which, with the exception of
some Of the upper levels, are thing
Of the past. Under the old mule or
horse car system but few cars a day
could be hauled to the shaft for hoist
Ing, as compared with the dozens that
are now handled by the electrical sys-
tenn. But few people realize the ex-
tent of underground development ter
ritory in a big system of mines like
Anaconda. On the $500 level of the
High Ore the ore is hauled by electric
cars a distance in some cases of 1900
feet, approximating four-fifths of
mile.
In Advance Of the Times.
One reason for the Anaconda COM
pany's leadership in the copper mining
industry is due to the fact that it is in
advance Of the times. 1t effects econ
omies of operation through methods
not generally employed, and which, in
not a few cases, were originated by it.
These savings, it may be said, are not
brought about at the expense of labor
or the communities that, to a greater
or less degree, are dependent upon 1t.
Its general policy is to maintain it's