Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1907-12-26
IRON ORE IS
IN FAVOR Of +.
THE CONTRACT
Ridicules Idea of North Butte's
Absorption BY Amalgamated
and Thinks Well of the.
Smelling Contract.

This is the season for the market
! bears. 1t has been for some time
past. We have had q word or two to
say on the subject In another column
OF this issue OF iron ore. The bears
I have been remarkably active this fall
and winter, and have had much very
profitable sport They have circu-
lated all manner u rumors concern
ing the copper mines. market and flu
ture. and have pretty badly brighten.
ed large number of people. Thev
are still at 1t.
The latest one sent out is to the e.
feet that the Amalgamated Copper
company is to absorb North Butte.
taking live shares of the latter ror
one of Amalgamated. On the pres
ent value of the stocks this would be
allowing sic for each North Butte
share.
The statehent would be so ridicu-
lous as to deserve no attention from
US we're it not for the fact that We
have received many letters this weeK
asking If there is any truth In the rr-
NOR. People have been SO wrought
up over the recent furry in the mar
ket that many of them seem to have
lost all reasoning power, or conf
dence in mankind, or something, and
While we cannot help feeling that any
person OF ordinary common sense
could see the absurdity of such a
statement as the one we have refer
red to, we will make the denial out OIL
respect to their disturbed feeling
and we do it entirely unofficially.
Anyone must see that it would be
fFR., ant " fntw- -. n.
make any such sacrifice of its suocA
as the one advertised To place a
velue of $40 per share on stock worth
500. would certainly be a great in
justice. To reduce ii 90 per cent
from its present ridiculously low
price in the share market would be
murder.
Just what share AmaIgamatea
owns in North Butte we do not know,
but we know some of the leading
men in the North Butte organization,
and we are satisfied that any trade
which might be made between Anal
gamated and North Butte is held by
many influential mea who also pos
sess shares in Amalgamated and |
North Butte would only be done upon |
an equitable basis. UnquestionapIy |
North Butte is held by many influen-
tial men who also possess shares in !
Amalgamated and North Butte lead |
ing interests are friendly, even unto
intimacy. North Butte has its ores
smelted in the Washoe smelters OF
Amalgamated, and has a very favor
able iong-term contract. So favor
able is it that North Butte could hard
ly afford to erect and operate a
smelter of its own. North Butte ores
are high grade, and AmalganIareo
wants them to assist in the reduction
of other ores not so high in copper
and iron. They assist in the treat !
ment of some of the low grade ores
OF the Amalgamated mines and pc
cause of their physical characterize
les North Butte is favored with
very low charge for having its ores
treated We know about the ores for
we have talked with the Washoe
smelter superintendent about them.
He tells us the North Butte output IS
the best in all the Butte district, and
that fully 80 per cent Of the outpu.
OF he mine is of the high grade
class. He should know. Besides we
get IL from the mine MANAGEMENT. so
we think we have this pretty well
verified.
We read sometimes in Eastern pa
pers that do a lot of mining and
smelling, and advising, all on paper,
that North Butte is badly handicap
ped because it has no smelter. We
know better. Had North Butte a
smelter it would have to look about
for ores to mix with its rich output
in order to make the most favorable
smelling charge. 1t would need tae
leaner ores just as Anaalgamated de-
sires the richer. The reader. need
not worry over the charge of the
Eastern brokers that North Butte is
getting the worst of it because it
does no smelt its own ores
North Butte, during times when its
shaft is out of commission, uses one
of Amalgamated's shafts located
close by. The two companies work