The copper era and Morenci leader., 1922-12-08
Arizona Business Review

eral manager of the company. Con- siderable development work has been completed at the property and large amount of new machinery installed, as well as additional sur face equipment and buildings.
 A resolution adopted by the. Board of Governors of the Salt River Val ley Water Users Association, of Phoenix, practically assures the con struction of the Mormon Flats dam, with regulating capacity of 90,000 acre feet, and the increase in capa- city of the Roosevelt reservoir by 270,000 acre feet and the remodeling of the power plant, including the construction of 7,5OO K. V. A. unit It is estimated that this work could be completed within a year at cost of $1,000,0O0.
 It is reported that construction work involving the improvement of the present bedding system at the Copper Queen smelter of the Phelps Dodge Corporation, in which the ore is mixed by steam shovel by more modren methods of mixing with belt conveyors and gravity, will start soon. It is understood also, that a silver furnace is to be included in the plant, and that there is a possi- bility of adding another reverberatory when the Don Luis concentrator gets under way.
 Viewing the future of the copper industry with decided optimSim and announcing a program of expansion rather than one of retrenchment of operations at the United Verde mine and shelter, Senator w. A Clark, president of the company, in recent interview at Jerome, stated that the copper mining industry has every reason to look forward to an in creasing business during the next few years.
 The domestic demand for copper, said Senator Clark, lis increasing rapidly and Europe must settle down to business before long and that set tling down will mean a greatly in creased demand for the metal. There is a positive shortage of the metal in Europe today, and this means that the moment they adjust themselves over there the demand will be sui ficiently great to insure long period of prosperity for the copper mines of the southwest
 The governing factor in regard to copper is the European consumption. During the pre-war period Europe took about 5 per cent of the Ameri- can output, according to J. Park Charming. vice-president of the Miami Copper Company. who is at present in the southwest.
 q see no danger of over produc- tion' states MT. Charming, Sales during the last six months have been very satisfactory, but there is one difficult point to be decided. Has the copper sold gone into consump- tion? The copper producers asso- citation has accurate figures of pro duction, shipments and deliveries, but we have none on the ultimate consumption. Investigations are be- ing made on that matter now and it is hoped that in time we may have some definite figures as to the ac- tual consumption. It may be that some of the buying of the last six months has been for manufacturers, jobbers and retailers. Taking every thing into consideration, I may say that the industry is in healthy con- dition with a price which, however, is lower than the pre-war average. That price is not giving the com panies the profit that is necessary to keep them in the financial position they should be in.
 An additional expression of op- timism ill connection with the future market for copper, especially in Europe, is found in the statement of R. l.. AgassiZ, president of the Calu-