The copper era. (Clifton, Graham County, Ariz.) 1899-1911, 1907-02-21
BRIGHT FUTURE
OF OLD DOMINION.
Boston Paper Takes Optimistic View
Says Phelps, Dodge People Regret
ted GIVING Option.

The activity which has been re-
Gently stirring in the shares of Old
Dominion Mining company is due to
the general bettered condition of the
company and to the fact that the
question of control has now been
practically determined, says the Bos-
ton Financial News.
Although the rumors that options
had been given upon the Phelps,
Dodge control gain currency every
time that there is any activity, these
are without foundation.
The Phelps, Dodge people, accord
ing to report, regretted the option
which was given Lee, Higginson, of
Boston, and when the option was not
exercised they were very much re-
| lieved.
1t was stated at the time that they
would give no options on the shares,
for the present at any rate, and since
the ending of the option many of the
causes that were potent in causing
the Phelps, Dodge people to give the
same have been removed or other
wise satisfactorily settled; so that,
unless there should be some unlocked
for occurrence the Phelps, Dodge in
terests would be very foolish to give
IL 20
of the Old Dominion at this time.
In the course of the next eight
months there is certain to be great
appreciation in the shares of the
company.
The fifth furnace unit is certain to
be finished by the early spring
months and this will add greatly to
the capacity of the company to ham
die a larger tonnage of ore, as it
will give the assurance of four
jackets operating steadily and fifth
some of the time.
With the addition of the rever-
beratory, which will be added by
midsummer, the company should bel
able to reduce the cost of its copper
considerably and likewise to increase
the efficiency of its furnaces, as it
will be able to handle all its fue-dust
and fines in this unit, thereby affect
ing considerable saving in the cost
of its copper.
The mining conditions at Old Do
minion are considerably better than
they have ever been, and this side of
the property will be considerably in
advance of the smelter end.
The smelling side of the plant, in
fact, could not keep up to the mining
end, even if it had sufficient fuel to
run full head, but while the working
plant is not able to run up to its full
capacity the working force in the
mine is making excellent Roadway in
getting the new sulphide bodies and
the west country ground in condition
for active STOPPING.
Another point that will help Old
Dominion is the decision of the
Globe, ella Valley & Northern rail-
road to build the extension which
was intended by the Old Dominion
company itself. This extension will
be started just as soon as the spring
weather opens, and will be completed
in rapid order. 1t will give the COM
pany an easy means of transporta-
ton not only between its own Con-
tinental, but also other mines to the
north of Globe proper, and will bring
to the company large tonnages of
custom ores.
The dividend which the company
has been in the habit of distributing
was withheld for the purpose of pay
ing off the debts incurred in the in
stallation of the underground pump
ing equipment and the smelter ex-
tension. 1t is the purpose of the
company to pay off this indebtedness,
and just as soon as it does so it will
be in a position to earn big dividends.
With a production of $4,000, 900
pounds annually, the Old Dominion
will have no trouble in earning $40
per share on its full capitalization.
Knowing these facts and believing
that Old Dominion will be able to pay
10 per cent. on a purchase price of
S1OO a share, there has been buying
of the shares by those who invest for
the long account.