Word: copperizing
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Earnings. The most tangible proof of copper's prosperity lies in the earnings of the copper companies, nearly all of which showed 1928 earning increases (first nine months) of 46% to 600% over the corresponding 1927 period. Anaconda paid a $3 dividend in 1927, $4 in 1928 (now on a $7 basis); Kennecott paid a $5 dividend in 1927, $8 in 1928; Andes, no dividend in 1927, $3 in 1928; Phelps-Dodge, $6 in 1927, $10 in 1928. Total copper earnings for 1928 increased approximately 80% over...
Customers. Chief purchasers of copper have been makers of electrical equipment, public utility companies, and the automobile and building industries. The following table (1927 figures) shows leading copper customers (in tons...
Three large and comparatively recent copper customers are the makers of radio sets, of washing machines, and especially of electric refrigerators. Total U. S. copper consumption in 1927 was 834,550 tons, or 14.15 pounds of copper per person. With the automobile industry planning to produce 3,000,000 cars and trucks during the first six months of 1929, with 1929 building expected to exceed 1928, and with various proposed railway electrification projects, copper demand should steadily increase...
Production. In 1927, U. S. copper refineries produced 1,257,445 tons of copper, about 70% of the world total. U. S. and South American (mostly Chile) refineries produced 1,477,332 tons and the world production was 1,748,932 tons (chief foreign refiners were Germany and Japan). In the first eleven months of 1928 the U. S. refineries turned out about 1,500,000 tons...
Companies. Leading U. S. copper producers are Kennecott and Anaconda. The Kennecott corporation is the largest copper producing organization in the world,* though the mines owned by the original Kennecott company produce less than 8% of the present production of Kennecott and its subsidiaries and associates. The two large children of the small Kennecott parent are Utah Copper Co. (Guggenheim) and Braden Copper Mines Co., located in the Province of O'Higgins, Chile. In 1927 these companies produced 235.358 tons of copper, about 13½% of the world's total production. Other companies indirectly controlled produced an additional 179,636 tons...