A New Epoch

THE DEVELOPMENT of the Phelps Dodge copper and railroad interests began in one era of the company's history and continued unbroken into the next. Yet the two eras themselves were strikingly dissimilar and represented marked differences in the company's activities, corporate structure, and personnel. From its organization in 1834 almost to the end of the first decade of the twentieth century, the partnership known as Phelps Dodge was directed, managed, and controlled by the family dynasty established by Anson Greene Phelps. The last two directing partners of this three-generation-old regime assumed control of the company's affairs in 1879 when the economic revolution that followed the Civil War was well under way.' They lived in an age of gigantic undertakings, gigantic enterprises, gigantic combinations, gi- .