Daily Arizona silver belt., 1907-07-12
MAY DISPOSE OF
 SUPERIOR MINE
Superintendent Hoar Goes to Calumet to Confer with Directors-Unw Holt Shaft-Deal May Be Consum-
 mated When Mine Is in Good Shape.

prospects of the Lake Superior & Ari- zona Mining company, J. A. Minnear X Co., s weekly market letter from Houghton has the following to say:
 Fred Hoar, who was recently apointed to the superintendency of the Lake Superior X Arizona Mining company, is expected to arrive in Calumet the latter part of this month to confer with the directors of the company. It is pro- posed then to outline a policy of devel- opment work, which will thoroughly test the value of the l.. $. X A. Super intendent Hoar is to remain here for several days and his visit promises to be one which will have a very favor able effect on the future of this mine
 In the meantime Superintendent Hoar has force of men at work unwatering the Holt shaft owing to a shortage in fuel the progress has not been as rapid as desired, but it is believed that the difficulty will end in a very short time. With fuel available it is expected that it will only take a short time to un. "hb'i iht Shdit dhu tOHlltHtt lO Sluk ing in order to get greater depth in the shaft and give the ground more thor ough test than it ever before had. It is the purpose of the management to have the Holt shaft attain a depth of at least 600 or 700 feet before any drifting will be done. At this point the future will be governed entirely by what may be brought forth in sinking
 It is generally admitted that the Lake Superior & Arizona is property which merits much more development work being done upon it than has been so far. The comparative inactivity during the past few months has been due en- tirely to the desire of the directors to get man to take charge of the work upon whom could rest the development of the claims and in whom the greatest confidence could be reposed by every shareholder. Before accepting his po- sition with the Lake Superior & Ari- zona company, Superintendent Hoar made an investigation of the mine and it was only because he believed that it had prospects for the future which were indeed bright that he consented to take hold. The directors thought that it was better to wait for a good man than to accept an engineer in whom confidence could not be reposed
 The only trouble which has been en- eountered so far by the Lake Superior X Arizona is the lack of shipping fla cilities. It is stated upon the authority of one of the directors of the company that the chances for railroad being built this coming winter are excellent, and that the financing of this road is rapidly being brought to point where it's success is assured. This railroad will run from Superior to Florence, a distance of about twenty eight miles, and will have the patronage of num- Der of big mines that are being opened in the vicinity and adjoining the Lake Superior & Arizona.
 It is in the Holt shaft hat the direct ors of the company put great faith. It IS two-eompartment opening which be- gins from a large station cut in the Holt tunnel about 900 feet from the portals of the tunnel. The equipment is believed to be sufficient for all immedi- ate needs, and once the pumps are start ed the water, which now fills the shaft, will be removed, making it possible to continue operations at this point
 One feature of the Lake Superior & Arizona which seems to have been for gotten is that it is likely to be taken over by one of several big mining in- terests The Phelps Dodge company has it's engineer awaiting the time that the Holt shaft will be free from water, so that he may make an inspection of the property. Should he find it what it is represented to be, there Is no question but that satisfactory arrangements can be made with the Phelps Dodge people to speedily put the mine on paying basis. This will of course make the local shareholders of the l.. s. & A. par ticipate in whatever melon is cut Not only do the Phelps Dodge interests look with favor upon the l.. s. & A., but it is known that two other western parties nave approached the directors with q view of becoming connected with the property. They have engineers also waiting to make careful investigation of the claims and will do so as soon as the water will have been removed from the Holt shaft. It would not be at all surprising to hear that before the year is passed, the l.. s. & A. has changed hands and the holders of stock were handsomely paid for their shares. If one deal is closed the high prices of last year will be cheap for the stock.