Arizona republican., 1904-11-12

larger increase in mineral values will be obtained in time.
 There are no evidences of any inten- ton to develop a mine on the Seneca tract, but the time must come and come within few years, when some thins will be done with the property. It carrica the underlay of the Mohawk mine, and by rights should be a6dzd tO that property, but as it is controlled by the Bigeiow management, is not at all likely to be joined to the Mohawk, but may be consolidated with the An meek. of which it is the parent cor pcra tion, or may be made an indepen- dent mine.
 The Champion is now sinking in all shafts. Owing to other work on hand and lack of adequate power for drill Ing machines, sinking was discontin- ded about a. year ago. The Champion now has ample air for all the machines that can be used to advantage. ard fs so situated that it can feed 1000 tons of rock daily to the mill and do as much dead work in addition as may be desirnd. With the two-stamp addi- tiolI to the mill in operation, the Champion will begin crushing 5000 tons daily, which is but little less than the daily rock tonnage of the OsCe0la or Quincy. Predictions of net earnings of S2 to Sl0 per share on Osceola for the current year may prove correct, but such large earnings are not anti cipated ly those who depend upon fig ures and past history for their opin- ions Of present and future earnings. The OsceoIa has turned the earre~ and will do very we'll this year, but the big earnings will not be made un- til 1905, which. from all present indf- cations, will prove a record king year both in production and net prof its.
 Almost anything in the way of in creased production CT greater earnings from Wolverine is accepted without comment. This wonderful little mine continues ito grow richer with depth, the smeltens are saving a larger per centaCe of metal than ever bsfo- e. costs are decreasing and the price of the product is going up. It need not prove surprising if the next semi-an- nual dividend shows another 50 cent increase in the rate, though, from the nature of things, this increase Of 50 cents every six months. which has been kept up for two years past, can not be continued forever. Neither would it prove surprising to those who have kept close track of the company's work and finances. were the Calumet & Hecla to increase its present dixi- denc rate of one million doliars per quarter, as the net earnings and in- creased surplus would warrant such action.
 The Arizona fever shows no sigrs of abatement, although some of the local development companies have made q Hst of matters. The quarterly div,- dend Endorsements of the Calumet &s Arizonn coupled with the finding of new and 1icn ore bodies every fepf days in neighboring mines. keen fbe market active, and the tendency. is to- ward higher prices The Calumet S. Arizona is fitting it's second shaft with Roistlng gear, and in view of the fact that the mine is now making 39.O90 tO3 pounds of copper yearly from a sin sIe shaft-which no other mine is de- ihg' or ever has done in the -pass-tEe importance of the new shaft can bA seen The Lake Superior & Pittsburg IS rapidly approaching the producfng stage, but lacks smelling facilities and the Calumet & Arizona. crowr7e1 by its own ores, is in no shane ro cs-a Tor ore from another big mine just at present so it would not be suroris-ng were the Lake Superior .& Pittsburs to send Us ores to the big new snet-er Of the Copper Queen. which bIe. Pittsburg & Duluth is proving could care for them without trou- up some big ore bodies through drilling rom the thousand-foOt level Of inc Lake Superior &; Pittsburg. The Pft+e- Ou[s and Duluth is going to be a very a"kWaTd mine to open, unless develoD- ca through the Lake S1IDarior Q FlCtsburS shafts, or unless corttroI l., secured of ground now held on +ba western side of the mountain now be1T ny the Wolverine & Arizona. The la 1eI company IS arranging for an exten- son or It's bond, which expires tbie month and is much encoura gad h,, PdsslnE through large auqntitfee of soIt ledge matter, of the same nron,ie- Ing sort that has preceded the fin,7s-7-- ol the other. big mines of the T2feneo camp. Calumet S Bfsbee ras a tc~- Ioot ore body and is raising 77ona,, fo. new work. The Portage Lake R- pis pee people held their annual r7aetir1.r 1iis week. and President E,,,,1-eI, strongly strongly urged the raising of sufffr5a1t uiius 10 permit the sinking of inc s7,ast now SVz feet in depth, to at least -oo or SyV feet in depth, and driftfn.r f..e.g,, .He bottom through the 200 feat. as ieaf-hed ore proven Inv gyi--...5 - o-