Bisbee daily review., 1904-11-23
A Seen By
 Boston Brokers
CIRCULAR BY HAYDEN, STONE 6 co. AFTER INVESTIGATION
 OF WARREN DISTRICT.
Intersting Reeap.tulation Of Manner of Organizations of 6onanxas and the Status It Has Brought Them to What is Now Being Done. .,..


 After experiencing the tribulations common to all mining ventures, the Lake Superior & Western Develop nent company was rewarded by find ing a very promising ore body at a depth of SIT feet lin the vertical shaft sunk upon the Irish Mag claim. which is next to the Silver Spray shaft of the Copper Queen. Development prov ing that the ore body was not only very large but very rich as well. the Calumet & Arizona Mining company was organized two years later in March, 1901 # The mine was opened extensively and a smelier built at Douglas, 25I niles from B.sbee. being located there 10 secure ar adequate water supply. One furnace of the smeiter was blown in November. 1902. and during the year. 1903 the mine made 25,535,S57 pounds of refined copper This is the largest production ever achieved in its first year 5y any copper mine, piaclug rne Calumet & Arizona tenth among the worlds producers, the ore averaging better than percent copper as smelt- ed, which, also, Is the highest percent age secured by any mine making more than a trivial product
 It is expected, however, that with inc deeper openings now being secur- Ca1 Q sv-f- age about the same as the Copper Queen, that is, little better than ! percent blister copper from all ore smelte6. No concentration or miInng of any sort is employed at any mine in the Bisbee camp. and of the rock hoisted the percentage discarded as waste is trivial. An especially notable fea ure of the Calumet & Arizona's large production, whichhs now running at the rate of better than 30,0o0,000 pounds per annum, is that 1t all comes from a single shaft A second shaft, now sinking, is bottomed in ore, and can begin production perhaps within a year.
 An addition to the smelting capac- ity $ to be made shortly. and when the new shaft is in full operation, say IS months later, there seems no reason why the Calumet & Arizona cannot make 5.000,000 pounds monthly, or 60.000,000 pounds yearly. which will put 1t upon a productive parity with the Copper Queen and Greene Consol- ida ed, though smelting a much small CT tonnage of ore than the latter.
 The inning plant of the Calumet & Arizona is small but excelIently plan ned and fully adequate. the powerful hoists and other machinery found in the Lake district being unnecessary in Bisbee. The smelter site, of 500 acres at Calumet, two miles west of Douglas is ample for any possible requirements nol only of the Calumet & Arizona but all Of its allied mines and all possible future allies for all time tC come. The company has a capitali zation of 250,000 shares. par sIO,bu has issued only POO, 900 shares, and | fs not likely that any further issu' ever will be made The first dividend was g and the company is now pay ing q~arterly diyiden6is of s150. equa 10 $1 100000 annually.
 Tie cash assets of the company il cash. biilsrece.vable and copper. ar' a Title more than $1,50O. 900, accumu lated simultaneously with the dis bursement of dividends aggregaEnc s1.300,O 900, showing that the company although paying s6 per share per an mum. also is placing nearly or quit as much more in It's surplus. Charle Br.ggs is president, Gordon R. CamT bell secretary, and Samuel Parnafl, son of the late William E. Parnall O manager. The management, both ger eral and at the mine, is capable, c, perfsnced and energetic, and has fh implicit confidence of all Lake Su perior people
 Of the s ock, something over half held in Houghton county, the balanc being owned in Pittsburg. Duluth, Mi waukee. Ishpeming. Marquette. Bisbes and elsewhere. As all improvement arc charged direct to operating e, pensss, and large surplus has bee accumulated within the yearssan 1T crease in the dividend is but matte of Lme. Ys.
 The Calumet & Arizona group l B.sbee includes four other propertie also. these being the Calumet & Pitt burg. Lake Superior & Pittsburg, Pitts