United Verde Company 'Glory Hole'
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Unknown Unknown 1600.0257.0012.jpg M - 257 B&W 1600-0257-0007 m257pl Print 3x5 Historic Photographs 1927 Reproduction requires permission. Digital images property of SHM Library & ArchivesDescription
A so-called "Glory Hole" of the United Verde Copper Company located in Jerome, Yavapai County, AZ, c. 1927. The United Verde mining claim and property was owned solely by William Andrews Clark, a former U.S. Senator from Montana. It operated from 1876-1953.
Unlike many other mining claims, there was no stock offered for sale to investors. The United Verde Mine netted Senator Clark and his family a total of $70 million. Copper, considered "velvet," was the main ore obtained, however, smaller quantities of gold and silver production helped to defray the running expense of the mine.
This mine, and the United Verde Extension Mine, contributed more than 99 percent of the total production of the Verde/Jerome mining district.
The Phelps Dodge Corporation bought W. A. Clark's operations in 1935; the Great Depression had dropped the price of copper to a mere 5 cents per pound. It was a worthwhile gamble, by 1940, these properties produced dividends of over $40 million.
The United Verde district produced more than 2 3/4 billion pounds of copper; there were more than 100 miles of underground workings built beneath the town of Jerome.
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