Bisbee daily review., 1906-07-26
RUMOR OF BIG SHELTER ID BE ERECTED AT
 THE CAPITAL
Phoenix and Eastern Smelling and Refining Co. Has Been
 Organized.

Maricopa county is to have tig smelling plant. but just where has not yet been given out. says the En- terprise. With County Recorder Leon ard today the Phoenix & Eastern Setting & Refining company, which IS to erect the smelter, filed it's articles of incorporation.
 New York capital is behind he ven ture, the incorporators being Ralph NJ. Jacoby, Chandler A Oakes and Geo. F. Goerner, all of that city. Gol-ner is to come here to represent the company and u handle t,Ie preliminary steps toward the construction of the plana.
 Stated ill the articles filed that tne business of the company will be car ried on in Maricopa and other coun- ties, the exact location of the plant is left somewhat in doubt. with good reason to presume that it viii not ne far from Phoenix.
 The name of the corporations appears to indicate that parties who are inter- ested in the Phoenix & Eastern rail road, or associated with Frank NJ. Mur- phy. may be connected in the new smelling company. but the best infor- nation to be obtained is that tney are acting independently of any Arizona people.
 Phoenix is to be the principal place of business, wits a branch office for fiscal purposes in New York. All meetings of the stockholders will be here, the board of directors to hold their sessions at such places as may be later designated.
 The capital stock is to be s600,000. divided into coco shares. each having a par value of s100, Of this. 2000 shares will be per cent cumulative preferred stock, the remaining 40e0 shares being common stock It is stipulated in the articles that divi- dends to the amount of s per cent will be paid annually on the first 2000 shares before the other 1000 begin to reap profits. Should the dividends fail during any year to reach 8 per cent the deficit will be made up in the following year.
 The general nature of the business is to erect and operate sneiting and refining plants, to purchase, own, and dispose of mines, to deal in real es- tGte, to bore artesian wells and oper- ate canals, to operate railways and tramways. to operate electric lighting plants and 10 engage in other lines not inconsistent with the nature of the business for which the company is incorporated.
 The board Of directors will consist of five. the first being R. NJ. Jacoby, c. A. Oakes, George J. Bealy, A. V. -Quistrom and George J. Goeruer, ali of New York.
 Regular meetings will be held on the first Tuesday in October of each year. The officers to serve until that time are the following: President, R. M. Jacoby; yice-president, George j. Bealey; ecretary-treasurer, c. A. Okes: manager, George F. Goerner.
 An acknowledgement on the papers show that Goerner on July 19 last was i'll Cochise county and ct Dragoou. It is stated in the articles that he is to come here shortly to make this city his residence.
 As far as can be learned rottiLg has been heard here previous to today regarding the contemplated shelter. Inquiry developed that in the CEinion of some the smelter will not be erected in this county, but is to be in Pinal county on ground owned by one of the large mining companies in the Kelvin dist rict