National Steel and Wire Co. - 1902 dated Stock Certificate - Gorgeous Vignette

Stock printed by American Bank Note Company, New York & Boston.

Louis Shattuck Cates (1881–1959) was a pivotal figure in the American mining industry, known for pioneering mass-production techniques that revolutionized copper extraction. After graduating from MIT in 1902, he rose through the ranks of the Boston Consolidated and Utah Copper companies, where he played a key role in developing the massive Bingham Canyon open-pit mine—then the largest of its kind. His innovative engineering approach shifted the industry’s focus toward efficient processing of low-grade ores, redefining the economic viability of global copper production.

In 1930, Cates assumed the presidency of the Phelps Dodge Corporation, guiding the company through the challenges of the Great Depression and leading it to global dominance. Under his leadership, Phelps Dodge became a fully integrated giant, managing all aspects of the mining process, from extraction to final manufacturing. Cates’ most significant legacy at the firm was the development of the Morenci open-pit mine in Arizona, which remains one of the world’s largest copper producers to this day. His contributions were widely recognized, earning him numerous honors such as the Saunders Medal and several honorary doctorates, solidifying his reputation as one of the preeminent mining engineers of the 20th century.