I I
When President Birch told the
stockholders of the Kennecott Copper
Corporation it was desirable they own
the railroad from their property to
tidewater he confessed, perhaps un
consciously, to a copper production
cost never before dreamed of.
The cost of transportation, he said,
was 2 1-4 cents a pound. As the av
erage cost of Kennecott copper, in
cluding transportation and all other
expenses, is 4 1-2 cents a pound, and
was for October 4.22 cents a pound,
the phenomenon appears that Kenne
cott copper is being produced for less
than 2 cents a pound, and has over a
long period been produced at an av
erage cost of 2 1-4 cents a pound —
aside from tlie cost of transportation.
it is little wonder, therefore, that
when oportunity offered the company
purchased the Copper River & North
western railway for $10,000,000, pay
able in Kennecott stock at 50. This
majhvay, which cost $22,000,000 to
construct, was turned over with $600,
000 cash in its treasury, gross earn
ings above $200,000 per month, and
the operating profit showing $150,000
■per month.
This operating profit and cash now
goes into tlie Kennecott treasury.
"With the railroad also went 13,000
shares of the Alaska Steamship Com
pany. which has a total capital of 30.
000 shares, or $3,000,000. The steam
ship company is earning more than
12 per cent, and within the past year
jtaid 11 per cent.
Tlie reason the mining company
was able to purchase on such favor
able terms is because both were Mor
gan propositions, and the Morgan peo
Hile have a habit of sacrificing their
personal interests to their trusts or
moral responsibilities.
When the Kennecott showed up tts
big Jumbo Bonanza and the stock had i
crossed $50 per share, the problem j
was with Morgan people as to how to
insure investment value and the per
manency of the dividends. The inUi
ative, therefore, was from this source
for the Kennecott company to pur
chase the 400,000 shares or iTtah Co.
in the treasury of the Guggenheim
Kxploration Cp., about io be dissolved,
and also to my the Braden Copper
property in South Americn. now com
ing into line as one of the world's
largest and lowest cost copper pro
ducers.
The Kennecott struck bonanza ore
that made its Jumbo mine a "world
wonder,” but it was not upon this
that more than $20,000,000 was put
up for Kennecott’s development by
Morgan and his associates. That in
vestment w'as made upon the other
copper producing properties of the
Kennecott, which have now been ov
ershadowed by the great Jumbo bon
anza copper ore running above 70 per
cent. But the extent of such ore in
this property has yet to be demon
strated.
Less than five years of it are un
covered. It may have valuable exten
sions or it may have duplications. The
present discoveries and the present
prices of copper make phenomenal
earnings. Today the Kennecott mines
are earning above $1,500,000 a month.
The history of every phenomenal
copper deposit — Calument & Hecla,
Anaconda, and elsewhere'-— has been
one of varying fortunes in wealth.
But the history of every copper min
ing camp has been one of permanency.
The time to make insurance against
mining Irregularities is when wealth
is at hand. The Calumet & Helen has
pinched in undergrouna wealth sev
eral times, but the Anaconda's bonan
za ore was duplicated in the surround
ing properties. The history of cop
per wealth in Arizona has been one
of successive ore bodies. Alaska is
comparatively new copper ground,
and the Kennecott is in the "world
wonder" stage.—Boston News Bureau.
■-:o:
Clark Duff, a Valdez creek operat
or. is in Cordova on his way to the
interior placer camp.
-:o:
.foe Morris, one of the proprietors
of the I’alaee saloon at Seward, was
with Cordova friends yesterday. He
, is returning to the westward from
an extended trip to the States.
—-: o:
Mrs. Griffiths, of Meier’s road house,
along the Chltina-Fairbanks trail, has
just returned from a trip to the Sthtet
and will leave on the first train for
her home.
HEALTH NOTICE.
Owing to the scarcity of water all
receptacles for storing same should
be thoroughly cleaned regularly, ana
It would be advisable to boil all water
used for drinking purposes. By ad
hering to these precautions a typhoid
epidemic may be averted.
W. H. CHASE,
Acting Health Officer.
Empress Theatre
FRIDAY, JANUARY 28, 1916.
Pathe News, No. 78.
THE MAYOR’S SECRETARY,
A Two Reel Kalem Drama.
LOVE AND FLAME,
A Bi^rapli Drama.
UNDER FALSE COLORS,
A Yitn^rapli Comedy.
Admission 25 Cents. Show Starts at 8 p. m.
Bedding! Bedding!! Bedding!!! j
Do You Sleep Warm
these Cold nights? If not we can fix you up.
An Extensive Line of
Blankets, Quilts
and Comforters
Feather-downs that weigh a few pounds, but with tons of
warmth; come in two si^es, 6x7 and 7x8;
i $15.00 and $17.50
Corded Cotton Comforts, wool filled, etc.,
$2.00 to $7.00
Wool Blankets, gray, brown and blue,
$2.50 to $15.00
Denim Covered Comforters for Camp use,
$4.00
Sheet Blankets, white and gray,
$1.25 to $4.00
The Blum, O’Neill Company
-— --——— — — •*
* *. t • r < • '*■■**•' • t*
'FRISCO BOXERS
i
--
SAN FRANCISCO, .laru 27. — Not
withstanding the fact that the voters
of California expressed their disap
proval of professional boxing and
voted it out of existence at a recent
election, the professional four-round
promoters arc disregarding the law
and continue to stage the four round
affairs just as of yore, without any
apparent disposition on the part of the
authorities to interfere.
Out and out professionals such as
Willie Meehan. Willie Hoppe, Uee
John. Charlie Mller. Hob McAllister,
Frankie Jones and others have been
seen in action at the regular weekly
bouts which are staged every Friday
I night. If bona fide amateurs have
bcfxed In shows at which these men
have appeared, tlie Pacific Associa
tion of the Amateur Athletic Union
has a big house cleaning on its hands,
and the inaction of this organization
in regard to the matter has been the
source of no little criticism.
-: o:
STOPPING SUE
OF LIJUOO TO
WASHINGTON, Jail. 27. — A dra
matic story of the government’s fight
to stop the sale of liquor to Indians
is outlined by Cato Sells, commission
or of Indian affairs. So well have the
efforts of the Indiaji service succeed
ed, he said, that the traffic virtually
has been broken up.
Not only has the government cut
the sale of liquor To Indians on reser
' rations and elsewhere, but in one tu
| stance it has made a fifth of a state
| dry through enforcement of a sixty
year old Indian treaty. Older treaties
are being studied now to determine if
1 saloons in other territory partly pop
ulated by Indians can he closeiT.
The official weather report, for sta
tions along the Copper River railway,
taken at 5 o'clock yesterday after
noon, follows:
Camp 30—zero; clear; 15 mile wind.
Camp 39—10 below; clear; 10 mile
wind.
Camp 52—10 beloW; clear; calm.
Camp 67—24 below; clear; 20 mile
I wind.
Camp 78—14 below; clear; 10 mile
wind.
Camp 89—14 below; clear; 30 mile
wind.
Camp 101—40 beloW; clear; 5 mile
wind.
Camp 114—38 below; clear; calm.
Chitina—38 below; calm; clear.
Strelna—52 below; clear; calm.
McCarthy-—38 below; clear; calm.
Kennecott—28 below; clear; calm.
:o: -
Edwin C. Ross, master mechanic
for the Northern Commercial Com
pany at Fairbanks, Is in town on his
way home.
EVERYTHING BOUGHT
AND SOLD
For anything you can't find In
town, go to J. Rawson’s Second
Hand Store and see what he has
got. We carry new and second
hand goods of all kinds, clothing
and kitchenware.
We have an experienced man
who does all kinds of repair work.
Give us a call.
JOHN RAWSON,
First Street
NOTICE TO TAXPAYERS.
Notice Is hereby given that the
I taxes on real ana personal property
within the corporate limits of the
Town of Cordova for the year 1915.
are now due and payable at my of
fice, on First Street, Cordova, Alaskf).
The said taxes shall be deliquent
at 6 p. m. on the second Monday In
February, 1916. and unless paid prior
thereto 6 per cent will be added to *
the amount thereof.
H. I. O’N’EILL, Town Treasurer.
Cordova, Alaska, December 22, 1915.
-:o:-—
Subscribe for the Daily Times and
get the news while it is fresh.
■A
I "
One-Fourth
I OFF
On All
I LADIES’
COATS
I CLAYSON’S
I"" ■" ' ■" ■ .
28 Steam Heated Rooms. With or Without Bath.
Hotel Overland Chitina (
GEORGE BLUM, PROP, t
POOL ROOM AND CIGARS
— —
Comfortable Lobby Upstairs.
Headquarters for the Public.
Satisfaction Guaranteed.
< — :o:— .
l - ■*: raatrs. _
Rates 50c, 75c, $100 Chitina, Alaska.
! s i
I , 1
I I
We have just received a
S
consignment of
SUMMIT SHIRTS j
| New Designs and Patterns if
BLACK BEAR I
J MACKINAW SHIRTS !
Guaranteed rain proof. if
I FINKELSTEIN&SAPIRO I
£
THE STORE THAT SATISFIES. A
I £: