El Paso herald. (El Paso, Tex.) 1901-1931, 1919-06-28
Profits Of The
nSpiratiOnFaU
off Percent
Companies Purchase Oil
Land For $l,600,000
For Fuel Supply.

Globe. ARK, June 2S.-Last years
profits Of the Inspiration Copper COM
pany fell off 100000 the total cop
per sales returning s17.516.O0O, COM
pare with s21.247. 900 for the previous
period. The net earnings were S.
.22s,O 900. or $685. per share issued. CON-
pared with s11.0s0. or ss.ss a share.
for the previous year. Copper pro-
duced amounted TO sS,540.0OO pounds.
sold at an average price Of 2477s
cents It costs 1883 cents. probably
the lowest cost known in Arizona for
the year. though to be compared with
1884 in 1917 and 1878 in 1916. Dur
ing the past year the ore output was
something above 100000 tons. prac-
tically all e. concentrating ore. that
milled an average OF 1903 pounds of
copper to the ton.
The Inspiration IS equal partner
with the Anaconda IN the purchase
producing oil land in the Bakersfield
district OF California. title conveyed
to an Arizona company organized for
the purpose Purchase was made for
protection OF the fuel supply OF the
two companies. which are closely as
cOLlaAE4 III OMntIEnAU- y OF months
past the Inspiration has been secur-
ing most OF its power from the near
by reverberatories OF the Interna-
tional Smelling and Refining COM
pany, as little power could be secured
from the hydro electric works at
Roosevelt. where the reservoir is at
low level. This default was Of little
consequence. as the mine has been
running with short production. but II
has emphasized the need for mainte-
=.
for use IN similar low water periods
when power might be needed to main
tain full operation OF the 10000 ton
mill.
B. Britton Gottsberger has resigned
as manager for the Miami Copper
company, a position he has held for
years. through the periods Of. devel-
opment and maximum production he
has been highly complimented in a
letter IN which managing director J.
Parks Claiming made public an
nouncement Of the resignation and Of
F. ". MacLennan. who has been as
sistant manager Mr.. Gottsberger VIII
take a long rest before returning TO
work IN any field.
The Miami Mining and Milling
company has elected P. r Mcdowell
president and n. ". Tanner secre-
tary and general manager. Texans
hold a large part OF the stock and
were represented at the annual meet
ing here by r. D. Eldridge and o. z.
Schupbach OF Sanderson. A compress
sor plant Is being completed and
small mill is to be in operation within
few months
Gibson Copper is completing a 800
ton concentrating mill on It's prop
erty six miles west Of Miami, where
the dumps are said TO contain several
hundred thousand tons OF ore aver
aging above 4 percent copper. Much
OF this was set aside years ago. when
the mine was furnishing high grade
sulphides to the Old Dominion smell
ter.
Iron Cap is planning a 500 ton mill
on its property near Globe. to handle
a vast quantity OF concentrating ore
taken out IN the course OF several
years OF shipping and Of development
work
A 20 stamp mill has been completed
on J. d. Riley's Oxbow gold mine, near
Payson. IN northern Tonic basin.
An attractive quartz lodge, rich IN
gold, has been cut while extending a
road into the Pinal mountain timber
belt from the Sulphide copper prop
erty. at the head OF Russell Gulch-
The mine lately was purchased from
8irs. Clara Kinney OF Globe