Bisbee daily review., 1907-10-13

would lead to the belief that those
 properties had suffered some steady
 reversal of condition that would make
 them worth less money than when
 everything was optimistic and the properties were selling at very nearly
 three times their present price, says the Houghton Gazette.
 Before considering physical condi- tons at the properties 1t would be
 well to consider whether or not there
 was some condition that made for better market values than are possi.
 ble at the present time. When Cen tennial and Allouez were selling at
 their highest 1t must be remembered
 that Calumet X Hecla was in the mar
 ket for all the shares that could be
 obtained and that the buying was per.
 sistent and continued. not until the company had picked up all the shares that the market afforded. but until the. stock market activity of the big concern was practically prohibited by court injunction.
 Of course 1t may be added that the injunction of the suit by the osceola people was to prevent the taking over of that concern. but it is eually true that a decision against the validity of the ownership of Calumet & Hecla stock would affect all other proper ties. Thus the big concern was taken entirely out or the market and the shares of Allouez. such slight float ing supply as the vigorous Calumet & Hecla campaign had not absorbed were left in the hands Of owners, chiefly spectators and traders and were sold for what they would bring by others of the same sort.
 It is not to be believed for a mo ment that the Calumet X Hecla would lose the opportunity to take all the shares of the company in question as fast as they were pushed into the market had it not been for the court The Lake generally now begin to realize how much harm the present suit has done it. and the copper industry is beginning to awake to the fact
 The condition of Centennial is bet ter than it was a year ago. better than it was even at the time that the big change was first announced. Since entering upon his work at the property General Manager MacNaugh- ton has followed the same lines that proved so successful in the opening up of the property. The added drill capacity made possible a much more strenuous opening of the ore bodies north of shafts 1 and ?. These bodies can be best reached from shaft ? and with the extension of these drifts into the ere chutes the amount of ore that will be available will be much greater than anything that the property has yet experienced.
 The development work in other parts of the property has likewise been pushed ct dhe usual rate of speed, but the new management has given ali it's extra added capacity 10 the extension of the lateral workings. At present only dead work is being done as a result of the program but it will tell forcibly in the end.
 Allouez is continuing production at about its normal rate. Before the passed into the control of the Calumet & Hecla the bread and butter end was a big considera- tion and following the policy that made the mine successful from the start a cash reserve was quickly ac- cumulated. Under present conditions the management is devoting more at tenticn to development and getting ready for big production later on and less to the present production of coD- per and the making Of profits.
 Work is being pushed especially on shaft 2. which is sinking as rapidly as there was any reason to believe that it would. The lode ought to be reached by the, middle of the coming | summer if there is no let up during l the heavy winter months. The rock | in the present openings Is as rich as it ever was.