Bisbee daily review., 1903-08-02
OUR CALUnET LETTER.

! sanitation of mining companies from
 the development corporations.
 Calling for More Money.
 The first of the new development
 companies calling for more money
 are the Calumet & Cochise and the
 Calumet & Bisbee. The second in
 stallment of s250 per share on the
 Calumet & Cochise has been calleI for September 1. and the second in
 stailment of s2.50 on the Calumet & Bisbee is due on September q. The board of directors of these two cor porations realize that it Is well U keep the treasury in the best possible condition. Each corporation has q good bunch of cash on hand at pres ent and the directors simply took this step. which was expected either now or a month or two later. in plenty of time. This call will result in the need of a good deal of cash from To- cal people as the greater portion of the stock is held right in Calumet Most of the stockholders have been looking for the call about this stage of the game and have been making prepara- tions to be ready when it came. The conditions at the properties are entire ly satisfactory.
 Organizing Mining Company.
 It is stated by people close to the management of the Calumet & Pitts burg. the first of the groups owned by Calumet & Arizona people to prove up satisfactorily. that the mining cor pcration will be put on the market in November nsonth and that the plans for this step are now being arranged.
 There is a good deal of speculation as to what figure the mining stock will go on the market at. There will probably be 100000 shares of the mining stock placed. Half of this amount will be sold for cash to the holders of the development stock. If the stock is placed on the market at $10 a. share it will mean that cool million win be secured. A good mary local people believe that the stock will be placed on the market at $20 instead of $10. because of the enormous fig ure that is being paid for the property and the knowledge that it costs a mint of money to place property on dividend paying basis. knowledge that comes from the Calumet & Ari- zona experience. There is not the slightest question about the success ful Notation of the stock. as the bulk of it is held by Pittsburg and Duluth capitalists. the original Calumet tS Arizona people all holding some but not nearly as much as the stock in the ] Calumet & Arizona which they own. In many cases the floating of this mining corporation will take big chunk of Calumet cash, but the stock holders have been figuring for months on this event and they are all pre- pared for it. The property has been proven very satisfactorily and the rights to buy the mining stock will be worth big money even if the market valuation of the stocks are not higher than at present.
 Above Original Valuation.
 The pessimist on the Arizona Min ] ing stocks can find little consolation liOHi Ihe SIoSh 'oiuoerOao VI any VI the stocks. While they have depre- ciated by leaps and bounds, when one | stops to consider what the original val ue of any one of the stocks was. 1t is easy to see that the holders haven't lost any money, even on paper. Cal umet & Pittsburg was simply s1o stock. partially paid in, and Lake Su- perior & Pittsburg was the same, so l that at the present prices the stocks are yers, very high. Nearly all the others are selling, even with the very poor money market conditions. al more than their original valuation. | GUCK.