Bisbee daily review., 1907-01-11
.DEhN-AR|zONA CO PROGRAMMED
 AT DULUTH
New Mining Company Formed, but Particulars of Apportion- ment Not Made PubIic-Mr. PattiSon'S Great Success.

Word was received in the city yes terday to the effect that the Denn-Ari- zona Development Company, which has been commanding the attention of the entire district for several weeks past on account of the finding of a large and rich ore body in a section of the district until that time un- proved, has been reorganized into a mining company, and the Warren Dis triet would soon have another pro- ducing property on its already long list.
 The first intimation of a reorgani- zation came on Wednesday from Du- luth, but the report could not be sub stantiated. Early yesterday morning the report again became persistent, and along towards noon the first di- rect an dpositive news was received from Duluth, through the local brok- craze offices.
 The advice states that the mining company has been capitalized at s3,- 800, ,000-350, 900 shares of stock with par value of s10.
 Just what the apportionment for the stock will be can not be ascertained, as the directors of the company have not as yet made any statement, so that all rumors along that line are nothing more than speculation based on the probable manner of dividing up the new stock.
 When seen last evening and asked concerning the matter, Superintendent Pattison said:
 Tt is true that the reorganization has been decided upon, but as yet have not received any definite infor- nation as to just what the aTyortion- ment will be-"
 The Denn-Arizona Development Company was organized under the laws of the Territory of Arizona about nineteen months ago, with capitali- zation of S750, ,e00-divided into 75. 1000 shares with a par value of $10. This stock was issued and up-to-date only S5, or half the par value, has been paid on 1t.
 The full import of the above state ment becomes apparent, when one con siders that with only half of the capi- talization paid in, and $100,000 of that expended in purchasing property, this company has become ready to reor- ganize into a mining company, and enter it's property in the class of pro uuCluS ulHeS-
 At the present time the shaft on the Denn property has been sunk HOO feet; drift has been driven very near ly 300 feet; a cross-cut has been run more than 300 feet; valuable pumps have been installed; one of the finest plants of machinery in the district has been erected on the ground; valuable ore has been found in a large body; and there is still money in the treas ury.
 To any one acquainted with the cost of mining, and the conditions under which it is prosecuted in this district. the above statement is prima facie evidence of the fact that Superinten- dent B. M. Pattissn, although very young man, has proved his right to be classed among mining men of great ability.
 Up to the present time Pattison's was founded on the won derful success he met with in the de- velopment of the Shattuck-Arizona property, but the development of the Denn was a much more difficult task than the former. He has put both properties in the class of producers with less money than any other con- pany in the history of the Warren Dis trict.