Bisbee daily review., 1906-08-19

now being erected, together with the steel building for the McDougal roast CTS. Our plans and specifications for furnace No. g, which will have a ca- pacity of from zoo to 800 tons per day, are now ready.
 Mir. A, s. Dwight resigned his po1 sition as general manager of the com pany, taking effect July 1, and Mir. David Cole who for several years has been manager of the concentrating department of the company, was ap- pointed to fill the vacancy Mir. l.. D. Ricketts still continues with the con- pany as consulting engineer, and MT. Shelby. formerly with the Old Domin- ion people. has accepted the position of meallurgist and manager of the smelling department. MT. T. Evans has been promoted to the vacancy caused by the death of MT. Metcalf, as superintendent of the lumber de- partment.
 During the past few months exten- siye and very valuable discoveries of copper have been made to the south east of the Cobre Grande mines upon the grounds belonging to the Cana nea Development Company, and the America Copper Co, both of which latter properties were located a num- Der of years since, but have until re- gently been considered of little value. The Cananea Consolidated Copper Company during the past few months located ground extending still far ther to the southeast, comprising Sierra De Gloria, of 2,000 pertenencias, Guanajuato, 1S3 pertenencias, Cole No. and Cole No. 2, comprising 44O pertenencias, Seguro, 513 pertenen- cias. the Square, 493 pertenencias, the Mariquita, No. 1, 255 pertenencias, Mariquita No. 2, 240 pertenencias, and Granada, 97 pertenencias. all of which properties are located upon the strike of the mineral zone at Cana nea and are heavily mineralized.
 During my trip I took an option upon the America property and upon the CaIanea and Duluth properties, which options, together with the Bryan, Seguro, Square and portion of the Massey No. locations, were turned over to a Minnesota corpora tion organized by a number of Duluth and Montana capitalists and myself This company was organized with a capitalization of 100000 shares, par value of s10 each, of which 100000 shares were issued. MT. Thomas F. shares, paying therefor in cash par $10 a share, the proceeds going into the treasury of the new company. The Cananea Consolidated Copper Company received 100000 shares, full paid and non-assessable, par value S10 each, in payment for the locations which it sold to the new company. This stock is at present selling at S12.50 per share and will undoubtedly largely enhance in value, as the ore bodies which have been opened upon the America and Cananea and Duluth grounds are extremely large and carry good value.
 We consider that the acquisition of this s2,000,0G0 of stock in the Cana nea Central Company will be an asset of great value to our company, and in additiontion to it's present market value, (more than S2,000,000), the in- stallation of new machinery and the opening up of another property by another strong company will develop and add largely to the value of the undeveloped locations which have been made by the Cananea Copper company during the past few months, and has the practical effect of nearly doubling the mineral area previously owned by the company.
 Upon the timber lands of the Sierra Madre Land and Lumber Company, 5l per cent of the stock of which is held by our company, work of installation
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