Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1907-11-23
FAY-CANANEA Is
ENLARGING
HOLDINGS
| through Transfer Or ConSoiiii-
dation Becomes Owner of
498 PertenenCiaS and viii
Push Work Soon As Possible

BY q transfer, termed . eonsolda-
ton. the Fay-Cananea company be
comes the owner OF 49S pertenencias
OF copper bearing property of the
Cananea Eastern company, situated on
the southwestern slope OF the Ajo
mountains. The new owners will be
kin Ot,55T ss;sil5ii., - e. !:e.:.-Aiata ~
ture, as soon as the action OF the di,
rectors in selling has been approved
| by the stockholders at their meet
ings, says the Cananea Herald.
1t has been known for some time
that deal for the property was on,
but up to today nothing could be
learned from an authentic source.
This morning an interview was had
with two OF the officers of the out
going corporation in which the news
Of the transfer was confirmed.
On Friday Of this week a meeting Of
the stockholders in the American cor
poratiOn will be held and on Saturday
the stockholders Of the Mexican cor
poration will gather, the object of
both being the same, the ratification
OF the deal
When asked this morning as to the
price paid by the buyers for the prop
erty Secretary Tenancy stated that it
could be considered more as a CONSOLE
dation than a purchase.
The Cananea Eastern has been
known for some time as one of the
most promising among the younger
properties of the section. About 1000
feet Of work, mostly in tunnels, has
been done to this time, one body Of
III
been shipped, showing an average of
10 per cent. It is believed that the
Fay Cananea has added materially to
the value Of its properties by acquir,
| ing this group Of claims.
During the past few weeks the Fay
Cananea, taking advantage Of the dull
ness, has acquired two good properties
one OF them being the DOrotea, the
other being the one present under dis
cussion. Just what lines the operation
Of the newly acquired property will
| take cannot be discovered but active
| development work will be started al
once upon the ratification OF the deal
According TO q visitor in Douglas
the other day who had just come from
| that part Of tle country and was post
| ed in what was doing in the mining
! industry there, the new sIoelter Of the
| American Smelter & Refining com,
lpany, which has been under course OF
construction at Chihuahua for the past
| two years, is at last completed and
will be blown in and active operations
commenced before the first Of the year
The construction Of this smelter mas
Ibeen held up for various reasons, pTin
! ciDaIly on account Of delays in re-
ceiying the building material necessary
! for its construction. Another reason
was the fact that the company has not
| been able in the past to make arrange
iments for q sufficient fuel supply &c
run at full capacity and it was not
| deemed advisable to rush the cOnstruc
ton and then lay idle for lack Of fuel
The smClter which has just been fin
! isned is a complete modern and up to
Idate plant. and has a daily capacity OF
! 500 tons, and the American Smelling
! & Refining company has sufficient ore
on hand to keep it running at full ca
pacity from the start.
The starting up Of this smelter at
this time is in keeping with the re-
| cent statements Of the company Off
cials that no suspension Of the enter
prises Of the company in Mexico was
contemplated.