Daily Arizona silver belt., 1907-04-11
GIVES INTERVIEW
 0N OLD DOMINION
President Smith Tells of Progress Made in Globe, Upon Return from Visit to the Mines-Tells of Proposed I'm provements at the Shelter.
The Boston Financial News says:

fTeSiuent tHarleS oIlltH OI tne Oiu Dominion company, who has just re- turned this morning from his regular quarterly trip eff inspection to the com panys s property at Globe, Ariz., says;
 "The recent discovery on the 14th level of the Old Dominion mine speaks for itself. It is one of the most re- markable discoveries that has ever been made in the southwest or in this coun- try anywhere.
 ''Tbe second crosscut at the l4th level has reached the hanging wall, as has been reported. The first crosscut has been stopped where it is because it was not far enough over to come fully into the vein, while the third erosscut was just getting into the high grade ore when l left the property.
 ''The vein directly above the l4th level was almost entirely barren. 1t consisted of broken quartz, mixed with gravel and broken rock, and is what the miners call chicken feed.
 'There was of course some good ground opened in the shaft at the l,200- foot level.
 'At this time it is interesting to note that the geological surveys report of the Globe camp stated that the Old Dominion below the 18th level would run into lean sulphides. Great stress was laid on this report in past times.
 "There is no part of the l4th level as far as opened that does not run bet ter than the same ground on the levels above.
 Considering the general condition of the property, it may be said that the Old Dominion is now nearly back to the place it occupied one year ago be- fore the damage that was done to it by fire aGd flood.
 ''Of course We have not opened the rich ore bodies which are known to exist in the west end of the property aad we will not do so until shaft c is equipped as a pumping shaft.
 ''The water at the property is being handled easily and economically.
 ''The best opinion now is to the eff feet that the flow comes from PinaI creek and that it can be easily con trolled.
 ''it is expected that shaft c will be equipped some time this summer, and just as soon as it is equipped the de- velopment of the ore bodies in the west end will be resumed.
 "The Old Dominion mine is doing exceeding well, It is producing at the present something like 25,000 tons of ore per month, which is to say 900 tons a day. This does not include what comes from the United Globe and the Continental, which are shipping steadily to the property.
 "When the present shaft was con structcd it was generally considered that it was much too large for the needs of the company and that the company would have to grow up to it's capacity Now it is taxed to it's utmost 10 meet the eompany's needs.
 "The grade of ore that the company is handling is gradually increasing. No ore has been stoped from the 14th level as the company is just now cutting the stopes and getting its sets. When the company begins to get ore from this level there should be a marked in- crease in grade
 It is expected that No. , furnace will be in operation by June l. The company has decided to hold the con struetion of reverberatory furnace in abeyance for the present and to go ahead with the construction of sixth jacket just as soon as the fifth one is completed.
 "The erection of the sixth furnace will necessitate the addition of more stack capacity, as the fifth furnace will use up all the capacity that the company has in that line. The cree tion of new stack would provide for the reverberatory furnace as well as the new jacket"
 President Smith said that the papers in the southwest had quoted him as say ing that the Old Dominion would pay a dividend in June, but that he had never made such a statement. He said
 ." No official action has been taken on the matter of dividend, and it has not been officially discussed by the d- | rectOrs. It may be said, however, that the company is expected to pay sub stantial dividends during the present year.
 "The property should he in a posi- tion to pay dividend, if the directors see fit, by July l. .'
 President Smith also said that at the time the Lee, Higginson & Go. op- tion was in force that the 14th level | crescent was 100 feet from the shaft | and going through barren ground. The fact that the ground just above was of | an unfavorable character, he thought, was the determining factor in causing those interests to turn their option down.
 In view of the fact of the present discoveries, the Phelps Dodge people are inclined to regard the fact that the company found the vein further away than they had expected as especially The lowest portions of the