The copper era., 1906-07-12
MINES AND MINING.
SHANNON TO PAY DIVIDENDS.


dividend payers of the territory.
While the dividend has not yet been
declared, it is known that the man
agement considers that the company
is now in a condition to retire its
bonds annually as they become due
and at the same time pay quarterly
dividends of % cents per share, which
is at the rate of ten per cent. per
annum on the capital stock. During
the past year the company haye ex-
expended large sums in the erection
of converting plant, the better
ment of equipment and in the build
ing of houses at the mine and the
plant. At the present there is but
little needed in this line, hence it is
safe to pay out the surplus earnings
of the company in dividends The
first dividend will probably be paid
on the 3lst day of August, and will
come as an agreeable surprise to
many shareholder who have waited
long and patiently for it. Many Cliff
ton people are interested in Shannon
stock which they secured at prices
that will now reap them a golden
harvest.
Extensive improvements will
soon be commenced at the plant
with the object of materially decreas-
ing the cost of production. I'M
provements will be made in the con-
centrating and power plants, and
both furnaces will be enlarged to
new briquetting plant will also be
added. 1t is expected that before
the first of the year the output of the
plant will be increased nearly fifty
per cent. The Shannon mines are
said to be in better condition than
ever before.
The surprise of the week is the
somewhat phenomenal decline in
Greene. Consolidated, which is now
down to little more than $40. Shan
non is rising rapidly and is now
quoted at from 1925 to $50, with a
prospect of still further advance.
The Shannon company recently
closed contract with the Copper
Bell, of Gleason, Cochise county, for
so tons of ore per day, which will be-
gin to arrive in few days. The ore
runs high in sulphur, which makes
the ore desirable for smelling pur-
poses.
The same old rumor has again been
sent out from Boston that ''N. L. AM
ster, a noted Boston mining man, is
to take control of the Shannon Cop
per company's affairs in Arizona"
AS usual the information is lacking
as to when Mr.. Amster is to assume
control of the company's affairs.
From the best information the ERA
is able to secure, there is no truth in
the statement.
The ERA is pleased to note that the
leasing system of opening up and de-
veloping mines in this district is be-
coming popular. Until recently it
was not considered the proper thing
by many of the newer companies to
lease their mines, but they are gradu-
ally coming around to it. Since the
Shannon company has commenced to
treat ores at a very reasonable
price, many OF the mines that have
regular shippers under the leasing
system.
E. U. Beauchamp, manager of the
Gold Belt Development company,
was in town last week, bringing with
him several specimens showing much
free gold. These specimens would
run several thousand dollars to the
ton, but they are not considered of
any particular significance, except to
show that rich ere may be expected
occasionally. The company relies
upon its low grade ores for its future
success, but a few hundred pounds of
this rich stuff will come very handy
occasionally.
A train of seven wagons loaded
with lumber, tanks, tools, etc,
left this week for the camp of
the Gold Belt Development COM
pany's property at Bonanza and
Garfield gulches, where the company
have been doing a considerable
amount of development work for
some months past. The company is
now getting right down to business,
and will soon have a large number of
men employed. Inc STOCK OF the
company has been advanced to %
cents per share, but none is being
offered at that price.
The ERA is informed by 1. N.
Stoves who was in town last week
from his summer camp at Granville,
that he and his brother Charles, who
have lease on some of the mines of
the Stevens Copper company, are now
doing remarkably well, considering
the short time that they have been
working under the lease. They are
taking out and shipping ore to the
Shannon smelter which averages
about Is per cent. The leasers are
already making money, but expect to
do much better as soon as they can
get the mine in shape for more ex
tensive work. The ore is a red oxide.
.. G. Wolfe, of the Independent
Assay office, returned last week from
Sonora with which he was favorably
impressed. He also visited the new
camp of Mowry, near Nogales, with
which he was most agreeably sur
prised. At this camp he found a 100
ton smelter in operation and a con-
centrator of the same capacity in
course of erection, which will be