Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1919-01-25
COPPER EXPORTERS
FORM ASSOCIATION


Export Association, showing who the
association are and the power in its
possession.
The new. association of. American
copper producers Organization of
which has been under way since pas
sage of the Webb Pomerene bill in
The last congress held) elected the
following officers and directors:
Chairman of the board. Simon Gug-
genbeim; president, John D. Ryan,
first vice president, Walter Douglas;
second vice president, R. l., Agassiz;
and secretary and treasurer. c. w.
Walch.
Simon Guggenheim and +. Fl. Brow
nell American Smelling & Refining
Co, John d. Ryan, Cornelius +. Kel-
ly and Benjamin B. Thayer, Anaconda
Copper Mining Co. and Inspiration
Consolidated Mining Co; w. ID.
Thornton. Greene-Cananea Copper
Co; Charles Hayden, Charles NJ. Mac
Nsill, and y, c. lacking, Utah Cop
per Co. Nevada Consolidated Cop
per Co, and Chino Copper Co;
Walter Douglas and James Nc Lean.
Phelps Dodge Corporations R. l..
hgassiz and James Mac Naughton,
Calumet and Hecla Mining Co:
Stephen Birch, Keunecott Copper
Corporation; William A. Clark, L.
nited Verde Copper Co. Archibald
Mining Co; Adolph Lewisohn, Mi
ami Copper Co.: and Gorond X.
Campbell. Calumet & Arizona Min
ing Company
An Executive Commute was cho-
sen. consisting Of: Chairman OF the
Board, president, first vice president,
second vice president. and the follow
ing directors; James Mclean, Muir
ray Guggenheim, Cornelius +. Kelly,
William a. Clark, James Mae Naugh-
ton, Adolph Lewisohn. The Execu-
tive Committee will choose selling
committee, in whose hands actual
conduct OF the business will be plac-
ed The Executive Committee will
under the board Of directors. deter
nine policies with regard to the ex-
port trade OF the association.
john y. Ryan. Chairman OF the
Anaconda Copper Mining Company,
speaking Tor the new association.
gave cut the following statement
an the important copper produ-
Ger. OF the country are represented
IN the directorate, The plan adopted
by the association is purely mutu-
al one. only a nominal capital is pro-
posed Two hundred fifty thousand
dollars OF preferred will be offered
pro rata to all producers and each
producer will be entitled TO one share
OF common stock with cumulative
voting power. based upon production
OF copper Common stock will have
no par and no market value, as il is
provided that no earnings shall be di-
yided among the common sharehol-
dcrs. and any profit made. after pro-
yiding for dividends or retirement
OF tie perierred, will be credited to
the producers in proportion TO their
export sales.
Every producer. large and small,
in the country will be invited to
join the association on precisely the
same basis as the larger interests
that is. all representation voting
rights, and other privileges are baS-
ed on the production AMI export OF
each member OF the association.
Prices will be averaged over
monthly periods and each producer
will receive identically the same
price at the seaboard for his product.
IL is believed that the plan being
a purely mutual one, and providing
Tor no advantage on account OF the
size or location of any contributing
organization will fulfill the expecta-
tion1 OF its promoters and FIRMLY IL
mite all American exporters OF copper.
The production of American
.melters and relneries was before the
war. fully 70 pc; sent Ct tha. OF the
whole world. 1t is believed now to
be IS per cent. About 90 per cent OF
the pre-war production was export
ed II is expected that proportion
will continue to hold good. The ted
eral trade commission, in its investi-
COTTON OF the copper trade, found that
by combination of buyers in Euro
pean countries and manipulation OF
markets for futures the foreign con-