Bisbee daily review., 1906-06-17
John Graham a Former Resi-
 dent of Bisbee Carried First
 News to Calumet of Rich ? BiSbee District.
Hoatson Was Interested in Beautiful Copper Rocks and Came to BiSbee to Make Personal Investigation.

D. E. Woodbridge. writing of the Bis bee camp, in the Engineering & Min ing Journal. says in part:
 In 1898 there appeared at the con per mining village of Calumet a cer- tain John Graham, an old Butte miner. With beautiful malachite and azurite specimens from BiSbee. Arizona, which he wished to sell. He had been a fellow miner in Butte with Capt. James HoatsOn. of the Calumet & Hec- la, and sought out his old friend. Hoat- son was much interested in the beau tiful copper rocks, and was told that there was just as good as the Queen al BlSbee. So HoatSon went to Bisbee
 The Costello Claims.
 He found group of claims belong ing to Martin Costello, a saloon keeper Of Tombstone. They looked good to Hoatson, whose 26 years experience In mining and superintendence at Butte had shown him many things. not the least of which was that sur face copper showings in a copper camp actually proved of value were not so important as many regarded them. Hoatson was permitted to inspect the underground workings of the Hoibrook mine. situated about 200O feet from the side lines of the Irish Mag, which was the nearest of the Costello claims.
 Hoatson and Costello quickly came to terms. A long g-time bond for the purchase price of $500,00O was imme- diately given and Hoatson returned to Calumet to raise money for develop ment. He approached his associates and superiors in the local manage ment of the Calumet & Hecla, who at fiIst decided on carrying the enter prise, but soon after remained outside Scores of the former mine laborers Tn Calumet and vicinity are today amply supported by dividends from the Irish Mag shaft, and owe their competence To the fact that they believed in "C ap'n Jim" HOatson.
 A Courageous Undertaking.
 Development of the Costello ground was carried on by means of a vertical double compartment shaft, and it was sunk about 750 feet before signs of ore were encountered. It took no little courage to make such a development, in the face of such Q showing, and against the advice of many of the best lHuSSS OI tue reglOn. At tunes II locked as though the shaft would be abandoned for lack of funds. and it was during one of these periods of de- pression that help came from some what unexpected source.
 HOatSOn and Thomas F. Cole, then general superintendent of the Carnegie Steel Cos mines, were brother-in-law. Cole became interested in Hoatson's troubles with the Mag claim, told HoatsOn that if the facts were as he believed there should be no difficulty ill raising money. and presented the matter to his friends in the Carnegie management. This resulted in ample frr ds, the development of the mine and tha organization of the Calumet x Arizona in March 1901.
 For payment of the Costello bond, mine development and a smGlter ST. OoC,0 was then to be raised, and the Pittsburgers wanted all this amount. They had to DC content with $600, 900. while Lake Superior took the remand CT and had a still larger share of the other half of tEe capital stock of $2.- 100000. From this beginning came the investment of about S1,000,000 by the Cole crowd which already has resulted in a market value of securi- ties not far frC m S50 600 n00