The copper era., 1905-03-30
Annual Report of the Arizona Copper
 Co. 4 Good Showing Made.

. Cctuln15 or the LWtHlN lN-HrSl dnHud 1 general meeting of the Arizona Cop per company. limited. is from the 1 Mining Journal, London. of Febru ] ary 20:
 The chairman Sir William J. Men.
 zies), in moving the adoption of the
 report and accounts, said the direc-
 tors were glad to be able to lay be
 fore tham again q good report. Last
 year they paid 50 per cent. and they were going to propose to pay 50 per
 cent. again this year. The amount
 they made at Arizona last year was
 not quite so good as the year before.
 workers who grave them their coke
 and from various other causes they
 were about 5000 pounds behind the
 previous year, but they thought 40.-
 OOo pounds would be sufficient this
 year to put to the reserve fund in-
 stead of j0,00O pounds the year be-
 fore, and they were able to recom-
 mend the same dividend as before.
 Last year none of the benefits of the
 rise in the price of copper that took
 place were obtained, for it was not
 till after September 3o, when their
 accounts for the year closed. that
 the marked rise took place: but this
 year they would get the benefit, and
 they hoped it would continue. While
 h.. n
 been 90 good, they had large re-
 turn from the railway y-1S. GOO pounds,
 as against 6l ,000 pounds the previous
 year, which was very gratifying.
 ed for the copper company and the
 railway together to 22.O00 pounds as against 10000 pounds but the outlay
 had all been necessary, and the
 money had been judiciously spent. The chairman then read an account of the flood at Clifton, which had been received from Mr. ColquhOun.
 The damage sustained by the com pany would be covered by 15,000. They had that morning received d telegram from MT. Colquhoun report ing that there had been another flood, but he expected that the works would only be shut down this time for four days. That meant that they would not get the same price for their copper in January but they would, he hoped. make up for it in I.' '..l l-,+ .I,a holders were aware that short time ago arrangements were made for increasing the company's plant, and they had been found most economical and thor Dughly satisfactory. They hoped by this means q considerable part of the cost of the copper would be saved. Mir. Colquhoun was able to acquire the right to use these jigs for d very small figure. being the first in Amer lca to take them, and they paid no royalty for the use of them.
 Referring to the promising body of ore which had been struck in the
 Hay Tunnel, the chairman said two veins of good concentrating ore. one 10 feet and the other 64 feet in width. l had been got there. both of much ! better than the average grade. On 1 January 3l. Mir. Colquhoun reported | hat they had got hold of vein | from which they might reasonably ! ,Npect to obtain much copper. They | lad not been able thoroughly to pros )ect this, because it was go feet be- ow the surface. but they were rum ling down shaft from the surface nt0 the ground for ventilation which would enable them to find out what here really was in the vein. The prospects of their mines were very rood at present, and they were in- lined to think that this find in the lay mine might not he the last find hey should have. They had q vast 'xtent of territory there and they lad not been going very low into the round to find their ore. but it was 'ery unlikely if there was one such pot aS the Clay mine had turned out Q he that there were not several nore in their territory-(applause hey should go on endeavoring to find 'ther good spots which might be as seful and as profitable as that which hey had found.
 Mir. James Gill said the prospects If the company were never brighter han at the present moment. Copper lad risen by natural causes. and was likely to continue high for consid- rable time. In the second place, his improvement of the new iig was nost important. Hitherto they had 'een blocked by their concentrators lot having power to put through the utput of the mines. Now. with this ew jig. handling from 650 to 500 tons ach, the output can be handled Af- CT May they night expect to have hcSe concentrators able to deal with nstead of 1000 tons day l450 tons f concentrating ore. With regard Q mines, the prospects in the Hum- oldt, Coronado and the King mines specially were exceedingly satisfac- ory.
 The discoveries in the Clay mine.