Bisbee daily review., 1903-07-11
OUR CALUMET LETTER.

umet & Ar1Zona people are SOlnB to number their new development com panies hereafter. People are apt to lose track of them and get them mixed up in the general shuttle of new Ari' kona minng development propositions. Lately the new ones have been coming rather fast and at a time when mo- body supposed there was money enough lying round loose to develop a good sized headache.
 From the time when the Calumet & Arizona people were first assured of the fact that they had mine which would be dividend payer and when they were certain that their expendi- lures of money and time and brain en- ergy had not been in vain. they have never stopped nor have they ever falt- cred in expending their cash to de- velop other territory in the same re- zion.
 The same heavy investors have time and again proven their faith in the Warren district and have attested their belief that some magnificent mines could be opened up by putting more and more cash into develop ment companies. That they continue to do so is additional proof that they still have the same abiding faith. One point which is noticeable in the for nation of the new development com panies by Calumet & Arizona capital is that the public is not asked to put up any money Most every other company, development, mining or otherwise. always asks the public to get into the game right early.
 Whether it is case of letting the dear people in on a good thing or whether it is a case of letting the dear people take the chances is not always known. but these new development aged by the Calumet & Arizona outfit don't let the people in at all. All the money is put up by the people who have organized the companies. The options were secured and the deals handled by inside officials of the big corporation and people who are in a position to get their hands on any of the stock are more than tickled to have the chance.
 Calumet people have heavier inter. ests in Calumet & Arizona than they have in any one of the four different development companies that have been put on the market since the Cal umet & Arizona became known and proven success as a financial invest ment. The Calumet officitls have not nearly as much stock fin the development companies as they have in the Calumet & Arizona In fact they were not aware of the deals in some cases until the plans were all made and everything arranged for the formation of the companies. Then the matter was unfolded and in each case they contributed more or less cash and stock certificates. but the heaviest interests remained in the hands of the Pittsburg and Duluth people who secured the options and undertook the plans. Notwithstand- ing this fact, the local Calumet & Arizona people are all interested to a certain extent in each of the proposi- tions and all hold the same official po- sitions as they do in the Bisbee pro ducer.
 Of the four development proposi- tions owned and controlled by these people the first that is looked upon as the proposition which will soon fol low in the footsteps of the Calumet & Arizona is the Calumet & Pittsburg. It is believed that it is not a question Of great while when the development company will be turned into @ mining company and there is great deal of gosip locally as to what method of procedure will be followed. The plan upon which the Calumet & Arizona was financed has generally been looked upon as ideal in good many respects and most of the develoument Companies that have been formed have talked of following much the same plan when the question of forming a mining corporation should become 8 pertinent one.
 The recent developments upon the Calumet & Pittsburg property have 
 property is no longer questionable and that ore bodies have already been shown which prove that there is ore enough to warrant the formation Of a mining company and that prove the value of the property. It takes pretty big thing to make the officials of this property get the least bit ex cited and while the recent findings have not provoked the slightest kind of enthusiasm from the local offices, the public believe sthey are very i'm portant Officials of some mines would be shooting of the fireworks or messages which the Calumet & Pitts burg people refuse to say a word about
 It is generally believed that when the Calumet 6 Pittsburg mining stock is put on the market the present hold CTS of the development company's stock will receive five shares of min ing stock for one of the development stock as well as the option to buy
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