Arizona silver belt., 1904-01-14

VI ehS NlSChS
 Copper company, provides for issuing
 s2,SOo, 900 fifteen.year percent con
 verli6le bonds. The bonds will be convertible into stock at par and will
 De redeemable on any interest date
 aiter a specified time at ll0. It is
 proposed to give the shareholders an
 opportunity to subscribe to these
 bonds, but they will be uuderwritten
 ana any bonds not taken by the stock.
 holders will be taken by the under
 writers. The circulation of this report
 broke the price in New York lS, to l22.
 A New York dispatch says the re-
 port IS current again in Wall street
 that w. C. Greene will retire from the
 presidency of the Greene Consolidated
 Copper company. It was also rumored
 that Amalgamated interests were buy
 ing control. This, however, ia denied
 oy officials of the latter company. It
 is known, however, says the same dis
 patch, that 10000 shares of Greene
 Consolidated Copper company stock
 wps offered for sale to Amalgamated
 Copper directors and that they bid $0
 a share for t. Those who had the
 stock for sale, according to authorities,
 subsequently, sold the block to mem-
 bers of the firm of Phelps, Dodge &
 Co., for Sl0 share.
 George A. Schroter, an eminent min.
 ing engineer of Denver, who made the report on the Shannon mine which led to the organization of the shannon company, and who is large stockhold- CT in the company, was in the city New
 Year day, returning from an inspec- tion of the mine. He was greatly pleased with the looks of the property. lie says that the ore in sight was re. gently measured up, and there is enough already blocked out to keep the | smelters going for the next i've years. For every lineal foot of work that | has been done on this mine, including all tunnels, drifts, shafts, winzes, cross cuts and every kind of opening, there has been blocked out thirty tons of ore, which is remarkable showing Lordsburg Liberal.
 The shannon Copper company is ad. ding 250 tons to the capacity of its concentrator, which will permit of an increase in the output of refined cop per of ab cut 300 GOO pounds per month, making a total capacity of about l4,- 100000 pounds of copper per annum. It Is costing the company but $25 900 to make this converter enlargement, which will be paid for out Of earnings. With the present production of goo, ,000 pounds of refined copper per month, the Shannon company is showing net earnings of about $25 900 per month. February l, it is expected, will see the second half of the shannon concen- tratOr running. Mir. Bennie went to Los Angeles last week to inspect the final work on the plant at the Llewel- Iyn iron works. With double capac- ty at It's concentration and more ore .han it can handle then, while new strikes almost weekly are adding heav- fly to the supply, the shannon eer- .ainly has great year ahead of it. Q The successful operation of the 40. s ,tamp mill on Leland ore adds another leavy gold producer to Mohaye coun- y. Reports from the mill say it is working like clock and that the say n Dg of gold by amalgamation is high. s, The company is already figuring on i .dding forty more stamps making a e, otal of eighty. The quartz being easy t' O crush, it is estimated that the pres u mt forty stamps will dispose of 150 ons of ore in twenty -four hours. Ow- = ng to delay in the new ore locomo- ( ives arriving, Railroad Manager N Iorke is having difficulty in keeping ' he mill fully supplied with ore. How x ver that will soon be overcome. Less . han two years ago the company ope- 2 ating this enterprise purchased the x x .eiand group as prospects. During {: hat time they have thoroughly devel- G ped their principal claim, the Leland, < \ uilt seventeen miles of railroad be- M ween mine and mill, and are now " lrning out heavy gold bricks for the M yes of the stockholders to feast on - G ,ur Mineral Wealth. \ Prest. David $. Rose, of the Twin T 'uttes Copper Mining X Smelling G ompany, said that the conditions in ~ espect to ore bodies in the company's q mes, was similar to the mines of the & alumet x Arizona, now paying biz M ividends, in the Bisbee district, and '. nat the proposition at the Twin Buttes o as great one, something the people x Tucson were not aware of. Mir. x