Show TWO GREAT COPPER FACTORS the annual meeting of the nevada consolidated soli dated copper company will be held on november 2nd and at this meeting the stockholders of the company are to vote upon the issuance of shares of new stock which is to be offered in exchange for the shares of stock of the cumberland ely copper company on the basis of one share of nevada consolidated for each three and a quarter shares of stock of the my this action is recommended by the directors of the nevada consolidated company and it is believed that the deal will be consummated as it has been shown that the guggenheim interests in the cumberland ely is such that no other outcome is possible there are two great competing interests connected with the copper industry of this western country and the rivalry between the two at the present time is very keen in its nature these two interests are the guggenheims and the cole ryan crowd the former controlling the huge smelting smelling sm elting plant of the american company at garfield utah the steptoe smelter near ely nevada and smaller concerns while the latter is now engaged in the construction of the great plant of the international dl company near tooele thoele utah and owns the washoe smelter at anaconda both factions also own or control mammoth copper producers throughout Ws this western country the guggenheims play a most important part in mining operations in utah and nevada they control the utah copper at bin binham bingham ham and the nevada consolidated at eily ei ly nevada and the boston consolidated at bingham may soon come under its control great copper mines in t arizona will alsobr also be subsidiary if not actually controlled by the guggenheims the rival of the guggenheims the cole ryan crowd has control of the north butte and the amalgamated properties in montana the utah consolidated at bingham utah and probably the ohio copper in the same camp the great greene cananea cananda mine and the giroux and the ely central of ely ahe he existence of two such mighty forces in the mining industry of the west whose efforts are largely directed to the production of copper capper cannot but have a powerful and without doubt beneficial influence on the copper situation and this means that there must be a future for coppers in the first place such a vast expenditure of capital must have its recompense and this recompense must come through the operation of the mines within the sphere of influence of these two giant combinations it must come through the smelting smelling sm elting product and in its sale a market must be made and maintained and at a figure that will guarantee a certain percentage of profit and that such a market will be made and maintained is assured by the very nature of these two enterprises for men of the calibre influence and wealth who are back of them never undertake a venture of this kind without almost actually knowing that big profits are in sight it is a 16 foregone egone conclusion therefore that copper is here to stay and not for a year or two but for a generation or more or until the great copper deposits of this country are exhausted another feature of the utmost importance connected with the coming into this field of these two competing factors is the condition created in the rank and file of mining operators for the great shelters smelters sm elters of the guggenheims the cole ryan crowd will afford a ready market for custom ores for ores carrying gold silver and lead as well as copper and this fact should prove as a stimulant in the operation of thousands of independent mines throughout this western country in the development of of prospects and in the search for new and virgin fields 0 |