Bisbee daily review., 1907-11-13
'COCHISE COUNTY
AMERICAN BOY CLAIMS.
lTncson Starl

(Tucson Star.)
 W. V. Elliott. superintendent of the Wiessell Copper Mining & Milling company, offices St. Louis. Mo. and Casa Grande. Ariz., was in the city yesterday to secure about 200 feet of rails for installation at plant, two miles from Toltec, a station on the Southern Pacific nine miles east of Casa Grande. Mir. Elliott secured the necessary rails from the Tucson Rapid Transit company.
 Last February Mir. Elliott, who ran for sheriff of Pinal county in the fall of 1902. sold the American Boy claims, near Toltee, to the Vessels company for neat sum and was retained as superintendent He comes to Tucson frequently for supplies.
 Speaking of the property, Mir. FL liott said that the main shalt was down IA feet in quartz, ryolite, etc, the principal ores being in schist. He said he intended to bring assays in but as he failed to do so he would send them 10 Tucson. He has ten men at work and is enthusiastic over the fu- ture of the American Boy claims
 Referring to other properties in the Casa Grande district, Mir. Elliott said the Vekol, a wonder of former days in silver production to the extent of over a million dollars, had only been -ouehed, as yet the ledge had not Deeu encountered. and that with capital ,o Q the work great results wouiu U. ne outcome.
 fhere has been thirty-two miles ol It was unnecessary to explain. Mir IT11f,fE to the American Boy camp.
 There is some inclination to as cribe the changed condition in the metal market to manipulation. Such, however, it is said Is not true The principal cause for the sudden change in the metal situation was the 12-cent price, which was below the cost of production for a good portion of the accumulated stocks.
 Estimates as to the amount of these stocks varied from 150,O00,000 to 225,- 0o0,000 pounds. The latter figure was probably nearer correct The Ameri- can Metal company and the Vogelstein agency. representing about 300.000, 900 pounds Of annual copper production, did not accumulate much. As both these agencies purchased their copper as produced by the companies they represent, it was necessary that they sell their product, and they sold at the best obtainable prices, while the United Metals Selling company and Phelps. Dodge and company "held the umbrella"
 When the price reached the 12-cent mark, H. R. Morton and company, who are the London representatives of the American Metal company, organized a syndicate to purchase large amount Of copper speculatively.
 Having an accumulation of consid- erably over 100000, 900 pounds of cop per. the United Metals Selling inter- ests were willing to listen to anybody in position to relieve them of part of their load, which was unwieldy in tight money market. The result was the sale of number of million pounds of copper at Il S-4 cents, the lowest price on this movement.
 This buying started other purchas- CTS, and while 1t is quite possible that the accumulation has not been com pletely absorbed, what copper remains in the hands of the copper interests is held by the United Metals Selling com
 
 pany and they arc probably satisfied to hold what they have for the pres ent, in view of the great reduction in production.
 This restriction is likely to create among copper consum- CTS before many months, for, while possibly 50 per cent of the recent for ! eign purchases was speculative. this copper will not come back to this coun- try and many of Ihe American con- sumers have only partially covered their requirements.
 Fifteen cents is bid for consider ! able amount of copper by certain con sumers. but stocks at present are in such position that there is no in on the part of the Metals i oSfHHS EItrI CoUS JU UE5pUSts UI any cup f,>- =e-faer IEIo ra=...