Arizona silver belt., 1904-06-09

months ago and gave his opinion as tt the location of the ore bodies. MT Curtis sunk a shaft 600 feet in deptf and after drifting f T some distance struck the true Assure the first of thi' week. It was found substantially IT the place where it had been located by Professor Prout. W.th this strike the Mowry can now be said to be mine of the class of the Old Boot and other big properties.
 The best strike ever made in the properey of the Polaris company is re ported this week by Secretary Nichols, says the Clifton Copper Era. The strike was made at the intersection Of the Phonolite tunnel with the Golden Eagle lead The lead was cut by the tunnel S5 feet below the former lowest working on the lead, where 6 feet of ore of an average value of Sl00 ton trating ore worth about s per ton. The officials of the company, and also the local stockholders, are in high feather, as they have reason to believe that the vein at that depth will aver age in width and value along the vein the same as at the point struck by the tunnel Drifts will be run along the vein from the tunnel. Drifts will be run along the vein from the tunnel, hence few weeks will determine the extent of the strike.
 The Boston Commercial says: shan non's recent weakness is probably ex- plained by the fact that the stock at present prices shows a profit to most of the holders of 1t. Somehow traders always sell, in declining market, the stocks that still show them profit, selecting such for sacrifice in prefer ence to stocks of doubtful value. The greater portion of shannon stock was put on the market at from S2 to S5 per share. It has never been assessed, be- ing nonassessable. The recent addi. tion to the Shannon concentrator cost sl0,000, aud was paid for out of ope rating profits. To February of this year the company paid of the final bond of $2S,000 on ts Yankee group of claims. It will be remembered that the shannon paid 10 per cent of It's outstanding bonded inde btedneSs last year-$60 ,O0O-besides the inter est and in September this ear it will pay of $60,000 more of the principal. The money for the coming payment IS already In sight The company 's construction account is now almost wholly taken care of for the present year, and considerable cash Surplns should be accumulated ip the coming seven months.
 With the reorganization of the Lake Superior X Pittsburg Development company into mining company which was perfected in Michigan yes terday, the property enters upon a career that will in future demand greater attention from the investing public. The fact that the shares Of the company, which were offered to the purchasers of the development stock, at Sl0 each, are commanding the price of s3l aud over, is convincing evidence of the confidence that the public has in this bonanza property Great improvements will be required before 1t is advisable to enter upon the productive list of properties here and though the company now has hundreds of thousands of tons of rich mineral blocked out and ready to hoist to the surface 1t is not likely that regular production will b. commenced before considerably more than another year has passed. Ir the first place the company will undoubtedly prepare to raise it's two shafts to much greater size so as to afford better facil ities for handling mineral. Besides the company is planning to sink another shaft on its property to a depth of 1000 feet.-Bisbee Miner.