Word: copper
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Dates: during 1920-1929
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...management of the company and its predecessors has been in the hands of the same interests for over three generations. The stock which is now offered, represents the first public offering of any sizeable amount of stock. . . ." This announcement, probably unique in the records of the copper industry, was made last week by Phelps Dodge Corp. when a syndicate offered the public 200,000 new shares (10% of authorized and issued capital stock) which had been bought from British holders. Outstanding points of the Phelps Dodge record...
...children, Melissa, married William Earle Dodge who was a dry goods merchant. In the 1830's Phelps persuaded his son-in-law to join him in establishing Phelps, Dodge & Co. This latter company was extinguished only in 1917 when it merged with its subsidiary, the Copper Queen Consolidated Mining Co. to become the Phelps Dodge Corp. During all this time it has remained under the management of Anson G. Phelps' descendants: William Earle Dodge (junior), his grandson, Cleveland Hoadley Dodge, his great-grandson, and Cleveland E. Dodge, his great-great-grandson...
What was more, the stock was kept so much at home in this old Presbyterian family that until recently Phelps Dodge has remained practically a closed corporation. Few copper stocks have had the advantage of such respectable and exclusive upbringing. Cleveland Hoadley Dodge (Princeton classmate of Woodrow Wilson), was interested not only in copper; he became president of the board of trustees of Robert College, Constantinople. His twin sons have divided between them his interests in copper and oriental education: Cleveland E. is vice-president of Phelp? Dodge; Bayard is president of the American University of Beirut, Syria.† Executive...
Recent Policy. Phelps Dodge owns the Copper Queen mines near Bisbee and other mines at Morenci, both in Arizona; a slightly developed property at Burro Mountain at Tyrone, N. Mex.; the Montezuma Copper Co. of Sonora; smelters at Douglas, Ariz. About a year ago Phelps Dodge joined with other copper companies including Calumet & Arizona Mining Co. (another Bisbee producer) to buy a substantial interest in Nichols Copper Co., which owns a copper refinery on Long Island. Nichols Co. is to build a refinery at El Paso especially to handle their product...
Last fall Phelps Dodge Sales Co. was formed to market the products of the same group amounting to approximately 500,000,000 lbs. a year. In January Phelps Dodge made overtures looking forward to acquisition of a group of brass foundries and copper and wire and tube works in Connecticut and New Jersey.* Thus in one year Phelps Dodge has added to its mining and smelting business, the refining of its own products as well as a comprehensive sales organization, and is reaching out to acquire an interest in the copper fabricating industries. In short, it is setting...