Bisbee daily review., 1905-02-23


 The Engineering & Mining Journal, of New YorK. rated as one or the ablest and most reliable mining pub lications in the world. has the follow ing editcral comment in it's issue of last week on the proposed merger of the Bonanza Circle properties:
 The rapid growth of the copper ir- terests iR southern Arizona, that are owned by Lake Superior and Pitts burg mining and steel men, has been closely followed in the Journal. and is well known to mining men generally. Since the Calumet & Arizona company, the pioneer in that district. was organ jed, in March, 1901, it has advanced at a rapid rate, and now stands high in the list of producers. with a total for 1904 of about 32,O00,000 lb. of copper. Its management, which early saw the possibilities O. the Bisbee copper-bear- ing area has gradually secured in tour groups about 1,500 acres of ad- jacent land. all well located. but most of it somewhat discredited at the time it was taken under bond, and has de- veloped this into mines. Ever since these operations were undertaken. all by the aid of the same expert advice and direction, by single set of off cers and directors and identical oper- ating management at Bisbee, it has been a foregone conclusion among stockholders that they would. in duet time. become one company. The queS. tion has been as to when 1t was likely that this would take place. The con ditions now existing seem to point toI the present as a suitable time for such q combination. and there are in dications that the management so con siders it.
 Each one of the companies organ ized after Calumet & Arizona is near ly ready to commence producing cop per. Each one of them has a deep shaft that either has been. or is soon to be, equipped on the broad plan so well known on Lake Superior. where the managers of these mines got their experience. A smelling capacity doub- le that from which Calumet & Arizona has made it's records of production is about completed. and is to be utilized for the group. It would seem to be advisable, from many points Of view. that these various companies, wnose directors and officers are identical, and whose shareholders are the same, and, in many cases, with about equal proportionate holdings, should be com bined. Economies are readily appar- ent, especially in development under ground, in accounts and bookkeeping. and in the production and disposition of various ores with the smelter now belonging to Calumet & Arizona. That these advantages can be overlooked, by a management that has shown it. self so capable, is not to be thought of.
 While making but little noise about the operations undertaken, the man. agement Of the Calumet & Arizona Company has been careful and, to a ! certain extent, conservative, at the same time having abundant courage and enterprise. The work has gone on steadily, with very few setbacks. and mistakes have generally been avoided. According to those who are thoroughly acquainted with the inside history of the company, the manage ment has been free from scandals which have affected many mining companies in recent times. It has been a business ard not stock ez- change management. and has fairly represented the stockholders general ly, with no favor to special interests. In fact, it has been what one might expec. in a company including sol large a proportion of experienced min ing men. A Calumet-Arizona consoii-i dation would own about i,60O acres or possible mineral-bearing ground. upon which developments in widely sepa- rated portions have already shown ore, or the probability of finding ore it would have six shafts. averaging over ,OO0 it. in depth, some ready to, begin producing ore in short time. while two or three are now able toI stope heavily. It would have ready. or almost ready, a capacity for smeit- ing 1.4OO to 1,500 tons of ore daily, with possibilities for rapid expansion. 1t would start with abundant working capital. and the possibility of produc- tion on a large scale which would make it an important factor in the copper trade. The consolidation will be entirely business, not a specula- tive matter.
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