Western liberal. (Lordsburg, N.M.) 1887-1919, 1906-05-04

Hayden, Stone Sc Co., the Boston
brokers, 10 their last market letter,
have the following to say about Shan
non: "a few months ago we issued a
special letter on Shannon, making a
resume Of the company's business to
date aud outlining the policy OF the
present management. Since that date
matters have progressed steadily along
the lines thus defined. The company's
converter has been hpished and is now
operating, and is making a saving Of
approximately oue-half a cent per
pound In the cost OF copper. In addi-
tion to that, it is enabling the com
pany to complete the treatment OF its
copper for shipment without the
various delays 1t was subjected to in
the past. oil is being substituted for
coal as fuel, aud at prices which should
make a material saving, and 10 add.
ton assuring the company Of a steady
supply, which they were not sure OF
With coal as fuel. The company is now
treating the product Of the New Eng
land and Clifton Consolidated Copper
Company. Slopes that were crushed
in by the wet weather at the time of
the floods have now been retimbered
and are ready for use. The new store
is showing the profits which the direc-
tors anticipated. The ore bin capacity
has been increased and no ordinary
food should, 10 the future, interfere
with the regularity Of the output. The
number Of company houses has been
increased to better take care OF the
employees. There has been no material
change in the grade Of ore being
mined mol has there been any im-
provement in the nature of the ore as
to its adaptability for concentration,
but with the Improvements noted
above, there has been an increased
product anda regularity in the produc-
ton which has brought about a de-
crease in costs, which has therefor in
creased the profits. Mr.. Palmer, the
President, has just returned from the
property and is giving his entire at
tention to the handling Of the various
questions which are constantly arts.
ing. We have great confidence in him
aud believe that he will produce as
favorable results as the property Will
warrant. AS we stated 10 our letter a
few months ago, we thought that at z
Shannon was intrinsically cheaper
than many stocks selling at higher
prices. Developments the past few
months have in no way led US to change
our views, and now that the stock is
selling at s, we still feel that it is an
attractive speculative purchase" 1t
will be noticed that nothing is said
about the profit that the American
Metal Co. is making on the sale of
the copper, which probably is Is large
now as it was a few months since
when the Shannon was getting 1874
cents for copper, and a prominent Lake
mining company was sold to a stand
still at 20 cents per pound. Probably
the reason that the letter did not
speak of this was because it was never
mentioned in the Engineering and
Mining Journal that Lake copper had
sold for that price. The ore from the
New England company is highly sill
icious, and has come near freezing the
Shannon smelter several times, but it
adds to the copper product Of the com
pany, and that gives Hochschild,
vice president of Shannon and tres
urer Of the American Metal company,
a chance to urn a few more dollars
on the sale of copper, even if the cop
per is produced at a loss to the Shan
non stockholders. Hochschild can
stand the loss as a stakeholder, for
he holds a mightyssmall amount Of
the stock.