Bisbee daily review., 1904-11-23

V V v V V V V V V v V V V w burg & Duluth and Junction compa-
 nies. All have the same offices and the same general manager, but none have smelters, although production can be taken care of when the pro
 ductive stage is reached by the Calu-
 met & Arizona or Copper Queen smell
 ters at Douglas.
 The Calumet & Pittsburg Mining
 company wad organized in December.
 1903, succeeding development com
 pany of the same name. Organization
 was perfected upon much smaller
 showing of orc than at any of the
 other mines of the group. being forced
 by the necessity for raising nuuey toI take up the bond falling cue upon the
 ccmpany's lands. The property's area
 is about 250 acres, lying southeast ofl
 the Calumet & Arizona and not far from the Lowell shaft of the Copper Queen. Capitalization is s2,500000. an 250 .000shares. of which 10000 remain unissued. Its lands were acquired at
 cost of 37.45L75.
 The company has a considerable sum of cash in it's treasury, and, II more is needed, can readily raise it by sale of a block of it's treasury stock,
 the shares now selling at aoout $40. The shaft is very wet and the ore bod ies yet opened, are small. compared with the other mines of the district. but these are indications that larger ore bodies will be encountered soon. The Lake Superior & Pittsburg Min
 ing company was organized in June,
 1904, succeeding development com pany of the same name organized two years previously It has capltaliza- ton of $3, ,0O0 coo in 3o0,000 shares. of which 50.0G0 remain unissued, the larg- CT capitalization being due to the ne
 cessfty of providing more money to
 pay for the lanes bought of the South
 B.sbee Copper Mining & Townsite I'm
 provement company,fo 1.200, 900. Owing to a quarrel between blsDeee and Les Angeles stockholders of the
 South Bisbee company, in which the former charged that they were swlnd- ed by the latter, Bisbee shareholders refused to Tatify the sale of the lands,
 which were. however, turned over in legal form by the officers of the com pany, and good lawyers advised that 1 the title was perfect. It was thought
 best, however, to remove the only flaw l from the title, and the Bisbee share holders of the old company are to pc given 10000 shares of the treasury | stock in lieu of all claims of whatso- ever nature. This is much the largest
 in area Of any of the Calumet & Ari-
 zona group, having GAO acres of land.
 There are two shafts, the main shaft being about HOO feet deep and showing immediately large and rich
 ore bodies. In my judgment the Lake Superior 6 Pittsburg will make the 1 big mine of the Calumet & Arizona
 group.
 The property is so near the produc- l tive stage that serious consideration is
 being given the matter of smeltlng
 and contract may be mace with the l Copper Queen to treat the ore, until such time as new smelter can be built, or the Calumet & Arizona smelt-
 CT enlarged. I am taking no chances Il whatever in predicting that the Lake ! Superior & Fittsburg will make ore lof the largest and richest copper mines in the world.
 J The Junction Development company
 ts the last of the Calumet & Arlzons ) Rotations remaining in the chrysalis : stage, all the others having been made | full-fledged mining corporations. The Junction was organized in 1903. witf 2 a capitalization of s750.o00, in 50,00t shares, par s15, and holds If claims : area about 200 acres. lying near th' l Calumet & Pittsburg, on which $5S1,
 l3S1 remains unpaid upon the bond. 4 nl shaft is sinking on the boundary O el the Junction and Calumet & Pittsburt F lands, planned to serve both mines ' Good ore bodies have been proven b. 3 diamond dr-ll borings.
 . The property takes it's name iron + the fact that it lies at the junction 0 lthe limestone and porphyry roci s strata, which lie upon opposite side } of Tombstone canyon-t was general! a felt by mining men that Junction wa f the least certain of any of the Calume Il & Arizona fIotations, but it is makinl i- good just like the others.