Enterprises Of Great Moment

THOUGH the rapid revival of the copper market in the early twenties solved the most serious of the company's immediate postwar difficulties, a much more fundamental, long-range problem still remained. Mining is not like farming: the earth does not bring forth a new crop of gold, silver, lead, zinc, oil, or copper at every harvest time. Metal taken from the ground does not spring up again from the old roots like perennial flowers in a garden, or find renewal in freshly sown seed. No ore body, whatever its size or richness, is too big or too rich to escape ultimate exhaustion. When the war closed in 1918, Phelps Dodge had been mining copper from Bisbee, Morenci, and Nacozari over periods varying in length from ten to nearly forty years. During much of that time, the company's production had run from fifty million to as high as two hundred million pounds a year. Even the greatest of mines had to respond in time to such a drain. High grade ore was already at a premium in Bisbee and Morenci. The Burro Mountain properties of New Mexico were a disappointment. Failing the acquisition of