Bisbee daily review., 1908-11-20
GREAT THINGS
WORKED WITH
old DOMINION
Long and TireSome Campaign,
With Great Expense, Has
About Ended in Triumph for
Those Who Held On.
tHayden. stone & Coz

tHayden, Stone & COD
Old Dominion has now very nearly
reached the point where it will begir
10 reap the fruit of its long, and wha
must have Seemed to many of It!
stockholders, exceedingly tiresom'
campaign of construction and develop
ment work.
Within the five years or more thai
the present management have beer
in control, the following things have
been accomplished:
"a Surface equipment has beer
constructed. including one of the best
smelters IN the southwest, represent
ing cost of between $500, coo and
$4,000. 200.
(2) The underground workings
have been carried through the oxi
died zone. and large bodies OF ore,
running high in sulphur, have been
developed at a depth Of 10000 feet.
80 Two entirely distinct ore
bodies, one east and the other west of
the main ore body, have been opened
up. These have not as yet figured at
all in the company's production, but
each promises-in time-to rival the
main body.
ground mining has been changed from
vein" drifts to "foot-wall'' drifts.
This may sound rather technical to
the average reader, but it Simply
means that the company's expense in
ings, and probably in tramming its
ore. will be much less than hitherto.
The general plan of the manage
ment is to establish main thorough
fares of transportation on levels
three or four hundred feet apart.
These win be furnished with electric
hauIage. and the ore on the iHCr
mediate levels will either be hoiSl d,
or drd3ped to these main channels.
When it is stated that the Old DO
minion bodies cover an extreme
length of some 5000 feet, 1t will be
appreciated that some system of
cheap transportation underground is
imperative.
(5) A comprehensive campaign
against the heavy flow OF water has
been formulated. The water has al
ready been much reduced, and should
be still further diminished, upon the
completion of the dam.
.-.sl61---The conway has made l'seif
very nearly indspendent OF imDorted
ores. As against a smefSrC Charge,
which-at times-has been composed
almost exclusively of foreign ores,
and uu to two years ago han never
been less than 35 per cent foreign
ore, the company is today using only
is per cent of these imported ores in
its entire furnace charge.
Save for the issuance of $4,000
shares, netting 100000, all this has
been ACCOMPLISHED out of net earn
ings. Henceforth, the only extra ex-
pense will be the regular development
work of putting additional reserves
in sight against the current extrac-
ton, and of taking care of com
parativeIy small flow of water.
Now that the location and dip of
the several ore bodies has been pretty
definitely determined. the amount Of
dead work, yhicf-at times-has
been large. will be greatly reduced.
As intimated above, there are three
distinct ore bodies. covering total
length of some 1900 feet. OF these
the central body has been-up to this
time-the only source of production.
This has been developed, and is mined
TO-DAY on practically every level from
the 5tfl to the 18th. 1t was at the lat
ter point that the cross-cut, about a
year ago, showed a width of 80 feet of
10 taer cent ore, and subsequent de-
velopments indicate that this body
continues 70 the 10th level
The western ore body has been
opened on the 10tn, 18th and on the
14th levels. On the 10th and nth,
the ore is high grade oxide; on the
f4th IL is high g f'de sulphide, recent
ASSAYS showing Is per cent in block
No 2.
The eastern ore body shows COP
per glance and native copper, with
only a small proportion of sulphur:
also good silver values. Altogether,
there are now seven points CT extrac-
ton; two places in the eastern body,
and on the 10th. 11th, II and 14.h
levels of the main ore body.
Allowing Old Dominion a nroduc-
ton from its own mines OF 32,1J0.G99
pounds annually iand IL Is only ON
the copper from its own miTsrs that
it makes any money!. and assuming a
cos tot IL cents pound, which
should be obtained by the end of the
year, If Il has not already been roach
ed. the comDany should earn $500 per
share on accent copper. $500 yer
share on 1e-cent copper, $3.50 on s.
cent copper, and $3.50 on 20-cent COP
per.
II Is this very rapid increase in the
earnings on a rising metal market
that explains the comparatively high
selling Price of this stock and gives
it considerable possibilities, even at
this level