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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DSQZUvEnLhaRY53HT5T8s+qsAsmAG/CzoMDzLJ4OhXvoJOCURPJpDjPrPVeAAxsO
 YMLp+8Pq0yeKfWayA0H7qw==

<SEC-DOCUMENT>0001209191-03-021006.txt : 20030910
<SEC-HEADER>0001209191-03-021006.hdr.sgml : 20030910
<ACCEPTANCE-DATETIME>20030910174505
ACCESSION NUMBER:		0001209191-03-021006
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030908
FILED AS OF DATE:		20030910

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MORCOTT SOUTHWOOD J
		CENTRAL INDEX KEY:			0001181328
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00082
		FILM NUMBER:		03890648

	BUSINESS ADDRESS:	
		STREET 1:		4201 WINFIELD ROAD
		CITY:			WARRENVILLE
		STATE:			IL
		ZIP:			60555
		BUSINESS PHONE:		630-753-5000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHELPS DODGE CORP
		CENTRAL INDEX KEY:			0000078066
		STANDARD INDUSTRIAL CLASSIFICATION:	PRIMARY SMELTING & REFINING OF NONFERROUS METALS [3330]
		IRS NUMBER:				131808503
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE NORTH CENTRAL AVE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004-3089
		BUSINESS PHONE:		6022348100

	MAIL ADDRESS:	
		STREET 1:		ONE NORTH CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004-3089
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bpx68238_bpx1sjm.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-09-08</periodOfReport><notSubjectToSection16>1</notSubjectToSection16><issuer><issuerCik>0000078066</issuerCik><issuerName>PHELPS DODGE CORP</issuerName>        <issuerTradingSymbol>PD</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001181328</rptOwnerCik><rptOwnerName>MORCOTT SOUTHWOOD J</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>C/O PHELPS DODGE CORPORATION</rptOwnerStreet1><rptOwnerStreet2>ONE NORTH CENTRAL AVENUE</rptOwnerStreet2><rptOwnerCity>PHOENIX</rptOwnerCity><rptOwnerState>AZ</rptOwnerState><rptOwnerZipCode>85004</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>1</isOther><otherText>Retired Director-Sep. 3, 2003</otherText></reportingOwnerRe
lationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>COMMON SHARES</value><footnoteId id="F1" /></securityTitle><transactionDate><value>2003-09-08</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>1500</value></transactionShares><transactionPricePerShare><value>49.17</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>550.8061</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>COMMON SHARES</value><footnoteId id="F2" /></securityTitle><transactionD
ate><value>2003-09-09</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>550.8061</value></transactionShares><transactionPricePerShare><value>48.62</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><footnotes><footnote id="F1">Mr. Morcott retired from the Phelps Dodge Corporation Board of Directors on September 3, 2003.  On September 8, 2003, Mr. Morcott sold 1,500 common shares of Phelps Dodge Corproation on the open market.</footnote><footnote id="F2">Mr. Morcot
t retired from the Phelps Dodge Corporation Board of Directors on September 3, 2003.  On September 9, 2003, he sold 550.8061 shares held in the Dividend Reinvestment Plan for Phelps Dodge Investors, held at Mellon Investor Services, LLC.</footnote></footnotes><ownerSignature><signatureName> /s/ J. Dale Brunk, as attorney-in-fact for Southwood J. Morcott</signatureName><signatureDate>2003-09-10</signatureDate></ownerSignature></ownershipDocument>

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