Bisbee daily review., 1904-11-30
NEW ENGLAND
 PEOPLE BUYING SHANNON STOCKS
REALTY VALUES ARE BOOMING IN CLIFTONlMORENCI
 DISTRICT.
Dr. Ricketts Makes a Few Brief Per tinent Remarks-Son>e Exaggerated Statements By the Boston Com Y1erciai.
(Clifton Copper Era.)


 To those who are best informed. it becomes more apparent every day tha, the New England people are De- hind the heavy purchase of Shannon stock. which was such a surprise to the management of the company Since last week about 40000 shares of stock has changed hands, and there can be TO longer a question but that the control of the company has passed into new hands. The an nual meeting of the company VIII oc- cur nex: Monday. which will definite ly determine the power behind the throne. The sentiment seems to be growing in th.s section that Phelps Dodge are no; in on the deal It has been known for months past that the New England people had in contem- Dlation he erection of extensive works and when the break came in ! the Shannon it was only reasonable to suppose that they saw an oppor- 1 unity 70 secure a plant already built and in opera ion together with one Of the best mining properties in the Territory for about the original cost
  of tho plant
 The sta emaat which arpeare6' in 'he Fra last week copied from the New York Commercial. in regard to the p7onosed change of management of the shannon Copper company, in one particular at least is no borne out by facts. The statement was made in the article tha- the Arizona Copper company was annually clear ing s150O00 from ch,a haulage E. of shannon ores. The facts are that tha gross amount of the haulage charges do not exceed from s65. GOO to s75.OOO. hence the net earnings would be a very small figure as compared to the statement made by the Commercial. Soon after PhelptDodge becanae e , largely interested in Old Dominion. there was a hcwi from a number of minori'y stockholders. who seemed tb have the lmpres. Jon that the sock would never again be worth what it was then quoted at. about $S. In fact injunction proceedings were had to prevent the proposed merger. but | today the stock is quoted at BPS w4th TO dividend Tn prospect for many mon hs 10 come. It has been men tioned' in the papers that a dividend will probably be paid some time next sumner. but 'hst is somewhat vague. All of which goes 10 show that the l public has cofdence in anything with | which the name of Phelps-Dodge IS connected. Should it prove to be a fact that Phelps-Dodge are connecred ! VI th fbA C1on-a- ! there has been much talk in the news 0apers. it is likely that the stock of he company will gc in'o the pictures Tt once, and if the New England and Clifton company Is mixed in the same | 1eal the stock of that company will also be close seconc, in which event ! Clifton will make some easfy money. as a considerable amount of stock in l that company is held here.
 The possibilities of new blood in the Shannon company. together with 'ecent developments in the railroad situation. has had the effect of boom ing realty values in Clifton very ma ierially. Clifton realty is all right whether lEese good things naterialize or no' Property values have doubled in the past two years and they will more than double in the next two. tt would be well for the Clifton peo- pie 10 get in on the ground floor.
 Dr. Rickets. who is in charge of 'he Old Dominion propertieg at Globe, predfcrs that he will soon Ee able to produce copper cheaper than is now being done by any conpany in Ari- zona. This is a pretty big claim. but DT. Ricketts usually knows what he is talking about. Until the addition of new machinery. the cost of produc- ing copper at the Old Dominion. was 12 cents per pound. which was about 1 the highest of any of the big com panies operating in Arizona This shows what plenty of money will do for a company. Had not the Old Dominion arranged for ample means it could not have decreased its cost of production. There are many com Danies struggling for existence which could be made good dividend payers by increased capital