Studies in securities

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Monograph

Identifikator:: 1757542078

URN:: urn:nbn:de:zbw-retromon-134903

Document type:: Monograph

Title:: Studies in securities

Edition:: Revised

Place of publication:: New York

Publisher:: Jas. J. Oliphant & Co.

Year of publication:: 1927

Scope:: 81 S.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

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Title:: Anaconda Copper Mining Co.

Collection:: Economics Books

JAS. H. OLIPHANT & CO. Miata 7 Anaconda Copper Mining Co. Anaconda Copper Mining Co. is to the copper industry what the United States Steel Corp. is to the iron and steel industry, the most completely integrated unit in the business. After occupying for forty years the position of world’s largest producer of copper and silver, with an important output of zine, lead, gold, arsenic and other metals, besides treating on a custom basis substantial amounts of ores and metals for other producers, Anaconda in 1922 acquired the American Brass Co., the world’s largest manufac- turer of brass and copper fabrications, at a cost of about $45,000,- 000, and in 1923 bought for about $77,000,000 a control of the Chile Copper Co., having one of the world’s most valuable copper ore bodies with the lowest cost of any large scale producer. Chile and Anaconda control two of the largest copper properties and American Brass Co. is the world’s largest consumer of copper. Andes Copper Co., similar to Chile, a huge deposit of low-cost ore, is now ending the development stage and about ready to blossom. forth. Refining properties, timber lands, coal mines, and numerous other activities round Anaconda into one of the country’s outstanding commercial units. Its timber lands and coal properties represent sufficient supplies for the company’s own requirements and permit large outside sales. This is a brief and inadequate description of the activities repre- sented in this company’s capitalization of $214,044,000 bonds (in- cluding $40,000,000 of the Andes property), $1,919,356 minority interest in subsidiary companies and $150,000,000 capital stock consisting of 3,000,000 $50 par value shares. The expansion in capitalization came in 1923 when the largest piece of copper finan- cing on record ($100,000,000 first mortgage 6s and $50,000,000 con- vertible 7s) arranged for the absorption of American Brass and Chile control. The copper industry has been one of the slowest to recover from the post-war collapse when world stocks of copper were 1,139,000 tons. Since that time the prices of some of the non-ferrous metals have been entirely satisfactory but copper has been a laggard. Anaconda’s record of net income available for dividends has been as follows in the past six years beginning with 1921 when most of the mines of the country were closed down : 10, 1925... 1924... 2023.0 922... “001 Net Income .$14,226,000 «+ 117,541,000 6,719,000 8,768,000 ee 3, 531.000 ...deficit 17,000,000 [241 Per Share 4.74 5.84 2.24 2.92 1.18

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