Bisbee daily review., 1905-03-12
CONSULTATIONS IN ONE FORM
 OR ANOTHER
SAYS HORACE j. STEVENS, IS SURE WITH THE BONANZA
 CIRCLE.
Believes That, Regardless of contin- ued Dissent Among Stockholders, Consolidation Wilt Be Brought
 About Soon-Weekiy Copper Letter.
lSneciall

Centennial is plainly foreshadowed by the gossip from Boston. There nc longer is a disposition to deny that the results Of the first eight months of milling have proven sadly disap- pointing. and assessment of s to Sl per share may be looked fOr-perhaps the larger figure. and the Fay nan agement believe in allopathic rather than homeopathic doses, going upon the hypothesis that an assessment, being akin to a surgical operation, should be gotten over with at one slash, rather than by piecemeal cut ting-which. after all, probably is the wise way of regarding the matter
 Although the Centennial begun pro duction just eight months ago with four miles of openings, these have proven insufficient to afford properly selected rock for a single head. The reasons are various, among them be- ing that more than three-quarters of a mile of the total openings are shafts, which afford no stoping ground, though vital to the development of the mine. Another and more import ant reason-the main reason in fact is the dubious grade of the upper lev els of the mine. The first few levels showed very we'll in copper, but gave no stoping ground, as the shafts are started from the outcrop upon c tri- angular patch adjoining the main tract of one square mile, and the con nection between the square and tri- angular portions of the mine's landed holdings is merely a hundred-foot right-of-way, so no stopes could be opened until the shafts were fully a quarter mile in depth. The really good ground of the mine occurs put infreQuently above the twenty-third level, from which point downward there is a marked' improvement. In order to open enough stoping ground of good average grade rock to sup ply even the single head to its full capacity of TOO to 750 tons daily will require about one year and necessi- tate the opening of about two miles of new drifts. The present tonnage milled is about 400 tons daily. return ing an average of about 16 pounds of refined copper per ton, or at the rate of about 2,000.0 900 pounds fine copper yearly. With metal at 1z cents the running of the mill would be un- advisable, but with copper at 14 cents or better it is probable that a small net profit is secured on operations. The mill, bought for S296,000, is un- paid for. but the payments will not fall due until 1907. The mill was in poor condition, when taken over from the Arcadian, due to defective founda- tions, caused doubtless by the fever iSh haste with which construction was rushed, six years ago, when the Ar clan management, composed of the same able gentlemen who are nuw at the head of the Amalgamated Copper Co.,. was afraid that some of the metal might get away unless production was begun upon Calumet & Hecla scale at the earliest possible moment. The mill has three heads, one of which has been compounded by the Centennial, at cost of approximately S10.000, after being given a new tvelve-foot foundation of concrete. There also are foundations in place for three additional heads. The min cellent one, and a model in arrange ment. construction and equipment. All that is lacking is the copper. and that should be found at little greater depth, after another year spent in opening new ground. A favorable factor for the Centennial is the devel- opment of the mine upon the Rear sage lode, which Is one of the few lodes-perhaps the sole lode-of the Lake district that shows marked i'm provement at depth. The Wolverine secnred just about the same amount of copper that the Centennial now obtains when first opened, but nov gets very nearly twice as much.
 The Allouez openings show wonder fully well in copper, and there is lit- tie question that it Hfill make a good mine, though several years will be re- quired to put it in shape for produc- HoE upon 6 large scale.
 The Ahmeek continues to develop most satisfactorily, though but little attention is paid to the property by the stock not being listed on the Bos- ton exchange.
 Strong opposition has developed locally to the proposed consolidation of the Calumet 6 Arizona with it's four allied and adjoining properties at Bisbee. The opposition is marked among the shareholders of Calumet & Arizona, and to 6 slightly less extent among those who are principally holders or Lake Superior & Pittsburg. The local shareholders seem, as a rule, opposed to consolidation in the near future, though admitting that such a merger might be proper, and even highly desirable a year or two or three later. The local opponents have about convinced themselves that the consolidation will end in smoke, but unprejudiced observers. whose range of vision extends past the coun- ty lines. feel differently about the mat ter. It must be borne in mind that the people behind the consolidation scheme are large shareholders, backed by unlimited capital and accustomed to moving things their own way. e. g~. e.