Bisbee daily review., 1907-02-09
[. 8A. DIVIDENDS E LARGEST OF
 RECORD
Being First Dividend of Year, Stockholders May Expect S20 Per Share in 1907- History of Company

Announcement was received in Bis bee yesterday to the effect that une next regular dividend of the Calumet x Arizona Mining company would be at the rate of $500 per snare payable March goth. Books will be closed on March l. This is the biggest regular quarterly dividend ever paid by the company and being the first dividend during 1907. should be taken to mean that stockholders may reasonably eX- pect Calumet & Arizona stock to pay them twenty dollars per share in divl- dends during the year.
 At this rate of dividend, the Calu- net & Arizona stock is easily worth s2O0.0O per share and no doubt will be quoted at that figure before the close of the week The Calumet & Arizona has a capitalization Of two hundred thousand shares issued Of par value of ten dollars each and the stock in this company is now selling for approximately twenty times its original capitalization.
 The Calumet & Arizona is one of the wonderful mining companies of the world. It has not been more than six years ago when the first pick was stuck into the ground on the Iirisn Mag shaft. and before any sign Of copper had been discovered, the money in the treasury was practically exhausted. Then came financial as sistance from the steel crowd in Pitts burg; the prospecting shaft was con tinued and within the next few hun dred feet of work the Calumet & Ari zona had proven its merit and one oi the richest mines of the district was a reality. The dividend of $500 per share which has just been declared calls for a disbursement of a million dollars.
 With one or two possible exceptions no mine in the United States is pro ducing copper at so low cost as the Calumet & Arizona. Last years report showed the costs to run to al most seven cents a pound. When the report for this fiscal year is out the costs should be shown at six cents 2 pound.
 The mine is producing better than 5.e00,O00 pounds monthly which, at the present prices of the metal. should ret the stockholders s6o0,00 pel onth- The company expects to hayz
 5ixth stack in it's smelting plant al
 iglas in operation this summer.
 management is carrying its
 lting construction work along ai
 fly as the new stacks can be se
 from the manufacturers, and i
 nply a question of time when tht
 lth stack will be ordered. Tht
 mt smelting capacity is proTin:
 lerfulIy efficient in the bulk o
 handled and results attained.
 ew mines in the country have
 ord for raPidity of development
 pacity for dividends and opening
 future mining. that the Calumet Ariona shows. Within the past yea the mine has shown new ore bodie that have a value of close to $10,000 900 on claims which were of no knowI merit when the original mine wa placed on a paying basis. The Irisl Mag claim, which has already pait the shareholders millions in returns is today showing more ore opening than ever before in the history of tn mine. It has surprised the official in this, for they countsd on seeir, the end of the known reserves yea ago.
 The ore bodies in the Buckeye and through the two Senator claims ar continuing to develop a richness hith eI-to unobserved in this camp, no even excepting the famous Queen or' bodies. The ore is now shown clos to the Gibraltar claim. Calumet { Arizona also owns two claims whicl have not been touched as yet, tn, Hope and Wagner. They are belnl Proven by the Shatsuck and Superio & Pittsburg. and some day may b' valuable
 The management is pursuing pol icy in regard to the ore bodies whicl may be subject of some criticism With the present high metal pr1ce the production is not being forced ant the rich ore bodies are left untouched the directors believing that these va uable assets can be utilized to main tain the present or better dividend rates when the price of copper i, down as low as IA cents.
 The company is paying $5 quarterly and has a surplus of S5,000 900. If th, metal price should break the compan, could use these rich ore bodies, anC maintain the S5 quarterly dividend record without an effort.
 MARKET GOSSIP.