Phelps Dodge made more and more money every year in the 1920's.

"The consolidated income account of the Phelps Dodge Corporation shows gross income of $35,838,480 in 1924, against $29,735,620 in 1923. After all expenses and reserves for depreciation, but before depiction, the company reported $2,091,275 added to the balance sheet."

When one begins to read about the increase in gross income from year to year, the first thing you think about is success. Actually, Phelps Dodge was blessed with the increase of price due to the Industrial Revolution's need for copper wiring. Because copper is conductive, and because American households were beginning to moderate the use of electricity in homes, Phelps Dodge saw the need to increase the prices of their majestic copper. Prices were especially on the rise after the Bisbee Deportation in 1917. This was due to the fact that the company was forced to pay American workers a higher wage due to the fact that they were not illegal aliens from Mexico. 


Source: http://argo.library.okstate.edu/login?url=http://search.proquest.com.argo.library.okstate.edu/docview/100248199?accountid=4117