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i i i i ,A..,.'.,. .,... , ...w._a_i_.-.-g “‘1‘le ‘ “I.” f‘.“ «- *m’ 1'r irLufl av. .uunfl"”‘l um 'W'l’fli“. -. g. or” -\‘“ 1-0.1; ‘.., w , ~. 4"» “ rmdw. ». 4.... .. ..., .ws .- u-‘ - -...p..n.w s:.,,.m M. u .- ....-- . .~. It ~ ”Quicin‘ur ... . utduwc w» u‘ll‘lb'fl‘ . I- I... “Nulfsd . 1.. «In. vu..-.~u on“ v‘A M k...“ ‘muuu- «4w ' ° :«WMw ° .0 .0... .00 ..«‘00 «M» O O W O O O .09.”. N. O O Meow.» wt”: 0 .440050300’ .0. O O O * Capital COPPER. THE BIG SENSATION The copper output was the sensa~ tion of‘the year. if Government fig- ures are to be relied uponâ€"and the data is obtained very largely from official sources~~the copper refineries of the United States in 1916 turned out no less than 2,311,000,000 pounds of copper a total vastly in excess of fill previous estimates. Never be- fore has our production even ap- proached the two billion pound mark. .-\t an average price of ‘27 cents a pound, the 1916 production had a value of $520,1‘m0,000. compared with $243,000,000 the year before and 3198.- 000,000 in 1913. Prices averaged slightly more than 27 cents, as against about 17 cent in 1915. Arizona'led the States in copper prmlnetion. mining 675,000,000 pounds. against 132,000,000 pounds the year llt'flli‘t‘. Montana came second. with 3.’m,mio_mio pounds. and Michigan, third. with 269,000,000. Alaska mined 12n_inui,iioo pounds, which was al- most twice the 1015 production. (‘OPI’ER‘R‘ POSITION I’RONOI'NCI‘ID“ SECI'RE The position of copper is conceded by the most conservative anthOrities.‘ to be secure so far as 1916 is con-. «wrni-d. while those of a prophetic‘ turn of mind are unanimous in their prediction that there can be no dc-i ore-use in the demand during 1917.} and for some time to come thereafter. i The world's supply of copper is? nort. There is not enough copper‘l vrn hand to supply demands for any: length of time. The United States is: {hr' one great country to which alli unions trust look for their supply of copper. industries demand an in-‘ creased amount of copper every year. The European \V’ar is not only using inst stores offcopper, but in many cases. the copper used is being des- troyed and can never be restored to the world's supply. The frugal Germans. according to the, most conservative reports. have been for a long time converting brass‘ and copper objects into munitions of war. They have gone to every ex- tremc in bus-banding their resources in this particular. but the heavy Warfare eivgaged in makes steady inroads upon the resources of this country, :is Well as that of all others engaged in wnr. while they are not in :1 position to import copper. . Comparativelv speaking, there is\ not at this time any great stores of} copper at any place in the ’ d] Copper hording has long sinc ' The only available great ‘. ’ of: copper is that which exists ithei copper mines of the United States,’ and while every effort has been putt flirth to increase this production, it is very doubtful if increased pro-. Iltlctlflil can keep pace with increased‘ demand. 5 Where. there is a visible shortage and an increasing demand in any in- industry. Such is the condition that that better days are ahead of that’ industry Such is the condition that exists with the copper industry. The end of the war is not yet in sight“, Every day that the war continues vast quantities of copper must be used, a great percentage of which will be entirely destroyed in a way, so that it cannot be recovered. When the war ends. be that soon or late. there will still exist the world shortâ€" age of copper. industrial activities must follow to replace that which has been des- troyed by warfare. The reconstruc- tion period means an added demand for copper. i'nd reamed of Profits A price of even 20 cents per pound for copper, says Wilson, will mean profits undreamed of to the metal: producing companies before the European war. The copper produc-, ing companies have adopted a policyi of conservatism and established 3‘ dividend rate which it is expected to maintain years after the demand for war munitions shall have passed and the needs for peaceful industry; will be the only outlet. Theraccu‘mu-i latinn of large cash reserves in the: trerisuries of the copper producing, companies 111‘" fortifying them sol that they will be able in the futurel to finance their own stocks of copâ€"i per metal. whereas in the past they have been under the necessity of seeking financial assistance from the banks. with the result that. despite] their own better'jndgment and under} the pressure of foreign purchngprg Incorporated Under the La One? Million F We Hundred l , firth; sum of New-Mm Thousand 1,500,000 Share. list-”value $1.00 Each ' , ' " From Chicago Tribune. Dec. 30th, 1916. COPPER OUTPUT SETS NEW MARK Over 1,400,000,000 Pounds (‘on- sumeti in 1910»â€"War Be- duces Exports OCTOBER IS BEST MONTH Copper production in 1916 has broken all recordswand not because of war orders, popular impression notwithstanding. With an estimated consumption of 1,400,000,000 pounds and the former high figures under the billion mark, America has shipâ€" ped less copper to Europe than be- fore the war. Domestic demands. including rail- road electrification. automobiles. shipbuilding. brass industries. motor and electrical business. account di- rectly for the swell. The entente allies bought. accord- ing to the best estimates. 450,000,000 pounds of copper. America exported to neutral countries an additional -79.000,000 pounds. According to these figures of the Financial World. the total copper production of reâ€" fineries and smelters in 1916 was -;'.105.000,000, including foreign cop- per refined and marketed in this country. After exports. this leaves 1,353,000,000 consumption in 1916 in this country alone. For the first ten months of the' year. October. the last date. of official figures, led with 183.000,000 pounds. The production of the leaders ofthe industry for these ten months in pounds from Jan. 1 to Oct. 31 fol- lows: Company ~ Output. lbs. Anaconda ............... 282,400,000 L'tnh Copper ............ 166,354,906 Phelps-Dodge .... ...... ”48,000,000 it‘nlumet and Hecla ...... 133,730,127 Kennecitt .............. 97,650,000 inspiration ............. 99,747,000 Nevada Consolidated ...... 76.049.606 'ltuy Consolidated ....... 62,853,845 .(‘erro de Pasco .......... 59,800,000 Chino Copper ........... 61,894,436 Calumet and Arizona ....‘56,000,000 ; Greene-Cananea ......... 56,046,000 ‘L'nited Verde ............ 48,350,000 Miami Copper ........... 44,132,634 Arizona Copper .......... 39,044,840 Granby Consolidated 37,333,141 Braden .................. 35,536,000 Chile Copper ..... . ...... 34,898,000 Old Dominion ...... 33,422,000 Copper Range ........... 42.000.000 Canadian Copper ........ ‘29,000,000 Quincy Mining .......... 16,600,000 Stanton Mines ........... 16,089,281 East Butte .............. 14,953,260 Shattuck-Arizona .. ...... 15,206,701 Consolidated Arizona ..... 9.701.000 '“ ‘1 ‘Estimated. Forecasting conditions in 1917, the allies have contracted for or have options on 648,000,000 pounds, a con- servative assumption places exports to nonbelligerent countries at 200,- 000,000. against 270,000,000 in 1916. and that domestic consumption will luse up 1.400.000.000 pounds as com- pared with 1,385,000,000 in 1916. the total demand for 1917 adds up to about 2,248,000,000 pounds. ’ COPPER BEACHES THE HIGHEST POINT IN HISTORY Copper sales reach as high as 30% cents a pound in small lots. In large quantities copper is quoted at 29% cents for August delivery. and 28 cents for delivery in the fourth quar- ter of the year. The high quotations of the present are the highest prices at which cop- per has ever been sold. In 1880 cop- per began to assume the proportions of an industry by a demand for the metal, which shot the price up to as high as 25 cents per pound. From this price there was a gradual de- cline. prices ranging from 9 cents to 15 cents per pound having pres dominated most of the time since. in 1907 the copper metal reached its highest point by selling as high as “26% cents a pound, although the average for that year was only 19 cents a pound. Figuring 28 cents per pound as the present normal average market, the price which copper producers are eceiving iii: well over double what It was in 1914. Not since 1873 has copper sold above 261;; cents. The 1trend of increase in copper prices began last year. The average price of copper for the ten preceding years was 15.3 cents per pound. During that period that prices ranged as low as 11 cents per pound. Under these con- ditions. copper mining was one of the must substantial industries and big copper mines were able to pay substantial profits as well‘ is extend the scope of their development. , Prices today are almost double; the average price of those ten years'. To be exact the present price of 28% cents per pound for copper means 86 per cent more to the copper pro- ducer for his product than the aver- age price he received during theten years preceding 1915. The average cost per pound of l i ! they have been compelled to liquidate ; producinr copper in the United States} reduced . i their stocks of copper at prices. wt~t~tWW~$§mW is 81.; cents. There’s over 100 per cent profit in the present market. i omens Jas. T. Hopkins, President. . . ...... San Jon, N. Mex. W. P. McCall. Vice-President. . . . . . . .Norton, N. Mex. Dr. Jas. T. Parker, Vice-Bresident ....... Chicago, 111. D. F. Thomas, Secy.-Tred8.. .. ...... Norton, N. Mex. B. H. Kress. Asst. Treasiirer” ........ Deerfield, 111. Board of Directors J. F. Hopkins W. R; McCall ‘ Jas. T. Parker D. F. Thomas J. M. Whitmore Benham Cain ‘ W. S. Townsend * Locinmx . , The Company controls ektensivei properties in the Hop- kins Mining District. in Quay County, New 'Mexico, situated about 30 miles from Tucunicarl, the COunty Seat. PROi’ERTY The holdings of the Coinpany ‘embrnce twelve claims. aggregating about 240 acres. of good Mining property, in- cluding the Red Peaks and Big Basin. Considerable proa- pect work has been done (in these claims. showing proâ€" nounced evidence of rich ore deposits. Test holes put down to various depths of from 12 to 87 feet have shown by assay values of from 2 to 10 per cent in copper. The eyes of the entire country are now turned upon the copper producing industry, and especially upon the junior coppers, which will be the producer in the near future. One of the coming pmdueern of the fireat southwest. PERSONNEL Jas. F. Hopkins, the President of our Company. is a man of wide experience. in the practical end of the mining business. has been for the past ten years interested in the Red Peaks country. , Dr. J. T.1Parker. Vice-President. a regular practicing physican. member of the various medical societies, in man of wide experience and practice. having been identified with several successful mining enterprises. W. P. McCall, Vice-President and Statutory Agent. has been for many years a resident of New Mexico. having been interested in the sheep raising industry. D. P. Thomas, our Secretary and Treasurer, formerly in the real estate business at Roswell, New Mexico, is well known thoughout the state far his enterprise and progress. ive ideas; ' B. H. Kress, the Assistant Treasurer of the Company. has for a great number of yiearsbeen connected‘ with the ”passenger service of the Chicago, Milwaukee ti St. Paul Railroad. ~ ' i J. M. Whituinrc, general merchant, has for many years been one of the progressive business men of the Tucumcnrl. is one; of the Directors of the Company. Benha'm Cain. for many years Assistant Station Master of the Chicago Union Station; is also one of the Directors of the Company. . W. S. Townsend. for the past sixteen years in the land and development business in the Lead District of southeast Missouri and Texas. is another member of our Board. 0m cums iNciJ'm: can r0L1,0w1N0 No. 1. Red man. 2 f No. 7. Papoose. No. 2. Arrow Point. g No. 8. Yellow Jacket . No. 3. Mocking Bird. ‘ No. 9. Golden Pass No. 4. Copper Quartz. ; No. 10. Copper Lodge. No. 5. Copper King. ’ No. 11. Copper Peaks. No. 6. Cooper Queen. No.;12. Copper Gem. 1mm rm: grouiomive Extracts from the reportiof our Mining Engineer. Mr. .ias. W. Boilean. . ‘ “i arrived on the property on December 14th, 1916. I spent three days going over this property. I gathered samples from different parts (If the property and to my sur- prise. 1 found in the extraction of some of those samples, values running 2% per centiin Copper. 20 per cent in Nickel and 17 per cent in Aluminum. These samples were all obtained frm the surface. thefhlghest grade being taken from the 12%? of the gerupti’on." "i had the expe lence of testing North Carolina Nickel Ore, also the Canadian Nickel Oren and Cobalt and sample from the New Caladonla of Russia. and Nickel Ore from Oregon, and I must confess ithat the ore gathered from the surface at the Red Peaksg property was the highest in per centage that l have everg tested. The North Carolina Nickel run 2 per cent, Cobalt Canada 3 per cent. New Caledonia 7 per cent and thé Oregon 3% per cent." “After a thorough inspebtlom of the property from the geological standpoint as well as the formation (samples of which i, have analyzed). Lam of the opinion that this is or will be a property excelled by none." We have a compete reporti by Mr. Bpllean at the office. Copper-Nickel Ore. such ins we;will undoubtedly en- counter at a reasonable depth.§ if yielding only 21,9 per cent Copper and 10 per cent in Nickel would give ua profits of about $100.00 per ton. With a plant property equipped (at a cost of about $60,000.00) a production of 50 tons daily could easily be handled. ; ’ , We believe this is an unusually attractive proposition for the nun who can look about]. The Board of Directors of; the Red Peaks Copper Com- pany have'authorized the sale 30f 76,000 shares of its capital stock (for immediate acceptance) at 25 cents per share, par value. $1.00 per share. : . Did you hear a year ago of the gnlted Verde Extension, Magma Copper. or of inspiration? et. today they are the great profit takers in the greatest of mining industries. Are you regretful that yesterday‘si opportunities were ignored? Look to tomorrow. not behind. and take advantage of the present opportunity! Put; your'money in a sound in- vestment. ' Take advantage of our low offering and secure’ a, block or stock in the Red Peaks Copper Company at the present rate of 25 cents per share. i We believe this your oppdrtuniiy to mike money. 0 For additional informatlo' relative to the Real Peaks Copper Company call on or a dresfi . . l . , W.TOWllSENDior;B.flKRISS 916 Ashlund Block Deerfield Chicago, Illinois _. ' Illinois The facts? in this advertisbmexit. While not guaranteed by us. thc been obtained from sources which we believe to be absolutely reliable. E l i i i ' year 1916 were $166,975.76, lining lump in a statement .rocently made by Chester R. Inwronoe. a prominent financier of Boston. the claim ~11 made that of the averago returns from the capital invested in various industrien. mining leads all others. He says: “The National Banker, in a recent mm mm. Copper Stock. 1170. Done , Oct. 28. 1910 .« Name Started“ Now lnnplntion Needles . . .25 cut" 11.06 Green Nonster ........75 4.25 Dundee Arizona ......85 2.00 Inspiration Consolidated “feta. 07.76 United Verde Extension on. 41.75 issue, makes the unequivocal state- Miami Copper ..... cts. 37.75 ment that the combined dividends paid by the gold and sliver com- panies of the United Staten are great- er than the combined dividends paid by all banking institutions of the United States: that the combined dividendk paid by the copper com- New Cornelia . . . . . . . ...60 cm. 17.60 011 the market but/u few months. What has been done can be done againr/ / r.‘ \ ‘ Opinions from best - informed punieu of the United States are great- sources all 11 ee that the demand er that the combined'dividends paid for copper will be even greater .1. by all the railroads of the United ter the causation of hostilities in States, and that; 52 per cent of the Europe that: it is at the present freight handled by these same rail-‘ time as enormous quantities will be roads is either are or some com- requ red immediately for recon- modity connected with the mining struction. the belligerent countries and milling of ore. having exhausted their entire re- “To this somewhat astbunding and serves in the manufacture of ammu- not generally known fact. Brad- nition. The average cost of copper street's and Dunn’s commercial agen- for many years past has been 9% cies supply the startling addends o¢nts and the average price 141,4 that but 30 per. cent of all legitimate events. This made a profit of 60 per mining investments fail. as against cent. Consider then the large pro- 54 per cent in commercial lines. “During 1907 $300,000,000, was lost Eonionate profits accruing to stock- olders at the present price of cop- ln gilt-edge securities and about 08 'per and also consider well the fact much during the past two years. that this price is bound to continue which was more than was Just in for at mining. at two years; then buy some good c per stock for investment re- “Government figures show the fol- turns and large speculative profits. lowing returns in capital Qwestcd: Railroads ............. 3 There are a number of new compan- per cent ies that have recently placed their National Banks ....... 6% per cent issues on the market which will Insurance ............ 11 per cent shortly become producerg_ A num- Lumbering ......... .-.14 per cent ber of these have excellent merit, Manufacturing -. ------- H per cent and Irom a speculative value should Mining .............. 182 per cent pay large returns. but in any case The above. is all quoted from "The you can hardly fail to make a profit National Banker." _‘ by buying copper stockband buy Professor Treadwell, interested in ‘iate. the United Verde (and before Senator Clark became interested), sold one hundred shares to his cousin, Mrs. P. H. Chase, Bangor. Maine for one now. A year from yw will be too COPPER PROFITS Copper has veritably demonstrated hundred dollars. Later he tried to during 1916 that it in the genuine sell her two hundred shares more k at fifty cents a share, but her hus- band is reported to have discouraged her, saying,“Yon have lire-fly thrown a hundred dollars In that hole.” Senator Clarke began buying up the be stock in 1889, and ofi‘ercd Mrs. Chase five dollars a share for her stock, and later $7.50 a share, which she refused. in 1900 some Boston brokers offered her $35,000 for her invests merit of one hundred dollars; and but for her husband's advice she would have had the other two hun- dred shares. ing of metals, and persons who have been fortunate enough to own copper stocks have reaped a golden harvest. The, large sum of $157,000,000 has en paid out during the last year by copper-«producing companies. it has been a record your not only from the banner production but from the highest price that copper has reach- ed for many years. Not only have the oldâ€"established mining companies been able to increase their dividend rates. and in many instances “lay Home Mining advanced in seven aside a 1"“ surplus. but uulte ‘ months from 30 cents a share to $25 a share. Best Belcher advanced, from 60 cents to 822.50 in one year. Crown Reserve was placed on the market at 45 cents and advanced to 86.00. Hudson Bay sold for 25 cents, and advanced to $1.00 a share. number of new companies have been added to the dividendâ€"paying list. According to the, United States Geological Survey, the production of copper in the United States has sur- passed nil'previous r . At an average price of about 27 cents. the output for 1916 was valued at 8520.- 000.000. compared to $242,900,000 for Calumet and Helen did even better 1915 and 3189'790'000 for "13‘ The by returning early investors 81000 on every $1.00 invested. . The facts here enumerated are cut. ficient to prove the fallacy of the statement often heard. "You had better keep out of mining." COPPER SHARES PAY $157,000 INVDIVIDENDS IN 1016 M profits resulting from the domestic production was far greater for 1910 than for any previous year. and it is safe to estimate that the tottf‘ profits, including dividends and aur- piusea laid aside. amounted to more than $300,000,000. It 15,: well-known fact. und it has been published broadcast, that the With approximately, $151,000,000 surplus supply of copper has been distributed to them during menu absorbed during the rut ve-rs by dividends. copper share‘ holders will the "9111811110113 have enjoyed the greatest period of prosperity ever known in the life of demands of the European war. it is also a well- known and established fact that the the industry. It has been a record entire Output 0f copper for the first you for copper in every department. half of 1917 has already been con- and the greatest earnings resulting tracted f0!" and many hf!!! 6011‘. from banner outputs and highest tracts made for the latter half of the price: ever witnessed have been lib- same year. " erally returned to holders of copper stocks. Not only have the old es. tablished mining companies been able materially to increase Are Copper Investment. Bate Oneal Are copper investment: are ones? their This is the question ukedsnnd ut- dividend rates. but a number of new Bwkred by W. L- Wilson In 0 race t comers have been added. art le. This is the question an The Utah Copper company heads and answered in the has Angeles the list of thirty-nine copper proâ€" Record, in which helm during the duclng companionâ€"which will have past “’0 weeks WWII“ unmat- paid out about $167,000,000 in divi- "18 'Tom the Teutonic ulliu have dends this yearâ€"with a distribution caused a decline in thermos of con- of 819,000,000. Al hough bending all per securities. More pgtrment than otheran the ma ter of production, this price decline 111000 Anaconda ranked third in dividends, , securities and in proof of the seemingly chaos with 313,300,000 Kennecott w” sec; lute lack of Justification of such price and. and Phelps, Dodge Company. fourth. Here are the dividends paid by the fifteen leading companies for 1916. Utah ................... 819..491.880 Kennecott ............... 10,065,468 Anaconda . . . . ........... 10,318,760 Phelps-Dodge ............ 14.026.000 Calumet I: Holca ........ 7,500,000 Nevada Consolidated .. . . . 1.497.903 ' Chino ................... 7.177.335 inspiration .............. 6.206.321 Champion ..... . ......... 5,620,000 Calumet Arizona ...... 5,550,708 Ray Consolidated ........ 4.837.106 Miami 4.296.078, Greenesmmanea . . . , ..... 3,917,432 Copper Range ..... . ..... 3,851,870 Old Dominion Co. 3,620,236 The total dividends paid by the 39 leading Copper Companies for the $100 INVESTMENTS IN COPPER sloovinveated in Green Con- , solidified became worth 88,700 3100 invested in United Verde at different times became 0" worth .......... . ...... “80000 $100 invested in Boston Mon- ' ' ‘ tuna became worth....-¢.. 1.886 3100 invested in Wolberine be- came worth ‘ i _ . .......... 5.0 $100 invested in nluinet and 00 Pittsburgh became worth.. 50 $100 invested in Calumet and '00 Arizona became worth. . . .10,000 decline, is the fact that the prices for copper metal remained as firm as a rock._unehunged and undisturb- ed. This applies not only to prices for delivery during the early part of the 1017. but for deliveries during the latter part of the your. The majority of those future“ in cops per have been watching. the wrong barometer. When they were watch- ing the prim of r stock). which prove nothing. t y should have been watching the prices of agar metal, which tells the whole There can be no question. am be. whatever. (but copper metal doalers and producer: are well cold out over a large part of next yenr. Copper producer: re rd the eventual ter- mination of ostilitlee 11: Blameâ€"- 'whether nearby. or dictumâ€"with, equlunimity. . ca.