Arizona republican., 1906-03-22
CAPITALISTS
 COLLECTING
Globe District a Center of
 Interest
The Formation Of Two Great Cop. per Corporations is Believed to h. in Process.

Globe. Ariz.. March IS. Special Cor respondence of the Republican, The gathering here of capitalists and min. sng men, representing some of the leading interests in the copper world is attracting wide attention It is known that deals are pending which involve the transfer of several of inc largest copper properties in the Globe district, and their consummatibn. of which there appears to be little doub. would mean the formation of two or more corporations, rivaling in impor- tance the leading mining companies now operating in Arizona
 Bonanza Circle in Globe.
 Foremost among the mining men now here are prominent members of the C. & A. or Bonanza Circle com bination. including Thomas F. Cole of Duluth, Minn., who for some time past has been a conspicuous figure in min ing circles; Chester A. Congdon and H. B. Hovland. also from Duluth: Geo. E. Tener. of Pittsburg, Pa. prominent Tn the steel business as an officer of the Oliver Iron Mining company; T. Ii Collins and Capt. James Hoatson. of Calumet, Mich, the latter vice presi- dent and. in reality. the active head of the Calumet & Arizona and other Bo- nanza Circle companies
 The C. S- 4. combination has main tained a staff of mining engineers and surveyors, as we'll as an office force here for the past several months. The first evidence of their interest in the Globe district came to light early last summer when C. Morgan Clements, ge- olosist and mining expert for the C. X 4. made his appearance here and quietly commenced the examination of hn nr-lr ties. After making several trips here from Bisbee, MT. Clements removed his headquarters to Globe. and some time later was joined by Frank B. Probert. mining engineer of note.
 Valuable Options Secured.
 Their operations were gradually ex- tended until nearly all the mineral ground around the old Dominion, Uni- ted Globe and Arizona Commercial Copper companies holdings was cov- cred by their investigations. An op. ton was first secured on C. E. Fay lor's group of claims and then on the Bird group, owned by Stevenson, Shoap and House, and the claims of J. J. Cramer, Tom Doyle Barney Rice and others. In October the Mallory mines were purchased from the Globe Boston company. In all these deals the names of HOVaI A Smith of Bisbee and H. B. Hovland of Duluth, appear ed as the purchasers and the utmost secrecy was observed to prevent the impression going abroad that the real principals acquiring such extensive holdings here were the controlling spir- its of the Bonanza Circle.
 Faith in the Properties.
 The options have since been taken up and bonds executed, running thirty of price paid down and other payments provided for in eighteen months, and at the expiration of the bonds. On several of these deals day cash op- tions have recently been arranged dis counts of ten to fifteen per cent from the purchase prices named in the bonds to be allowed. This latest move IS interpreted to mean that the c. & A. people are we'll satisfied with most of the properties and are desirous of ac- quiring title to them at the earliest practicable date.
 Going Outside the Proven Ore Zone.
 In addition to the 1000 acres or more of mineral land acquired by bond and purchase. some fifty or sixty claims have been located for the same inter est half mile and more west of the Old Dominion property. covering a sec ton of the district that had previous ly been but little prospected for miner al Between these new locations and the west line of the Old Dominion. west of Pinal creek, are a number of other claims bonded and located by Duluth parties who have been associated with the Cole interest in mining ventures elsewhere, and it is not unlikely that Inese large holdings will eventually be brought under one management.
 These Iair somewhat in detail in order to con- vey better idea of the extent of the copper holdings secured by the C. & A. people in the Globe district.
 May Take Over Arizona Commercial.
 More important than all else, how ever. pertaining to the movements and probable plans of Thos. A. Cole and as sOciates in this district. is the well au- thenticated rumor that they are now negotiating for the purchase of a con trolling interest in the Arizona Com mercial Copper company's splendid property. The report has been cur rent here and in Boston for the past month that this proposition was being seriously considered. and recent devel- opments strongly support the sugges- tion of deal.
 Mir Probert has just completed a thorough examination of the Arizona Commercial company's mines. the Cop per Hill and BIackhawk and MT Clements also spent several days studying the properties. Their reports which have been submitted to MT. Cole and associates. will in all probability he the determining factor in the nego- tiations
 William A. Paine. who is one Of the heaviest stockholders in the Arizona Commercial and N l., AmSter DreS- ident of the company, together with other stockholders and directors from Boston and New York are expected to reach Globe Tuesday evening and the negotiations for the transfer Of the property to the C. & A. people will m all probability be decided within a day