Magma Copper Company 1961 Stock Set Parent of the Magma-Arizona Railroad VG+

Description

Magma Copper Company
Capital Stock Certificates Shares Par Value
Magma Copper Company parent of the Magma-Arizona Railroad
What You See Is What You Get - WYSIWYG!
In this lot you get:
(1x) Magma Copper Co. common stock certificate for less than 100 shares. Orange.
Issued: 5 December 1961. To: Harold Hinn
(1x) Magma Copper Co. common stock certificate for 100 shares. Green.
Issued: 8 December 1961. To: Goldman, Sachs and Co.
Nice clean set of certificates, issued three days apart in December 1961. Fat margins makes it suitable for framing. No major faults, or distracting folds.
An example of the vignette -
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Thumbnail History...
The Magma Copper Company was incorporated in Maine in 1910. Its principal operations were located in Superior, Arizona, at the famous Silver Queen Mine, near Superstition Mountain.
The rich ore there had been known of and occasionally mined since the early 1870s, but the logistics of removing it economically remained daunting until Magma built a 30 mile narrow gauge short line railroad out of the hills in 1915. Within seven years, the operations had expanded so greatly that the company built a standard gauge railroad along the route to Webster. Aside from freight, the locals soon started to ride the rails. The Magma-Arizona Railroad has the distinction of being the last railroad to use a steam locomotive on a scheduled revenue trip, which was in September of 1967.
Magma was a producer of silver, and a high grade copper that was in great demand. Early 20th century America was undergoing a communications revolution as much heralded then as the internet would be 70 years later. The need for the red metal was on a steady rise, and Magma became one of the star players in the market. By the time The Jazz Age arrived, the whole scene had gone electric, and Magma was a high flyer.
The Depression which followed the great Stock Market Crash of 1929 was a severe blow to commodities around the world, and copper was no exception. With the wind down of industrial production and the drop in demand, the mines were closed one by one. It would take World War II for the industry to fully recover.
For most of the three decades following the end of the war the markets boomed. By the late 1970s some early danger signs were being noticed about the rise of foreign producers. Prices were on a downward spiral that would result in the closure of the smelter in 1981, followed in 1995 by the cessation of all copper mining operations at Superior.
Recently, a new major copper deposit has been discovered and a jointly held company, the Resolution Copper Company, was formed to explore the deposits further. The size of the strike and purity of the ore has led to speculation that the moribund mining operations could be re-opened as soon as the commodities markets begin to recover. The company has already stated that when operations recommence, the Magma-Arizona Railroad will be reopened as well.
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