Bisbee daily review., 1908-07-24
\ BIC TASK
 ACCOMPLISHED
 Al CANANEA
What Closing Down of Big So-
 nora Camp Meant and Re- construction That Was Suc- cessfully Undertaken There.
4Rosfon News Rnrean

After shut down of eight months the Greene-Cananea company has re stunned the producing Of copper. The closing down of this property has kept about 90, ,009, 900 pounds of copper from the market but it was product that could not have been produced at a pro it on l2Is-cent copper. IL took some. courage 10 close down the Greene properties, discharge 10 GOO employees and practically close up city of zo,- 900 inhabitants. which took place when the Greene-Cananea properties ceased producing Immediately foi- lowing this action. Dr. Ricketts set about to reconstruct the entire prepo- sition, eliminate many of the objection able features snd build up new min ing industry The mines of the Greene sEsananea Copper company are of enoT- nous account but under years of in significanf mining. caYe-ins and fires, 4he properties were not in position to meet requirements of the manage ment as to the tonnage of ore, which would cost sufficiently high prices to make unprofitable The properties have been great wonders of the cop per mining world. mining area Of 23Ja miles, having about forty miles of underground workings, with right main working shafts, the properties all connected by a private railroad sys- item of eleven miles and thirty miles Of wagon roads, with the concenITators, roasting plants smelters. which make that of the nearby Copper Queen and the Anaconda at Butte look small in comparison Millions of dollars were reckIessly expended, millions of tons of high grade ore gutted from the mines and millions paid in unearned dividends This was the situation when Thomas F. Cole and John D. RFan became interested in the Cana nea- With prospect of year of fligh-priced copper they could readJust the Greene Consolidated proposition in connection with the undeyeloped -Cananea Central and Cananea Duluth, which they acquired, which would Jus tify capitalization of 2,50O,0o0 shares of stock for the Greene-Cananea com many. In order to eliminate Colonel Greene they willingly paid him SEQ per share for his stock. Before they were able to bring about the desired changes, however, the panic came and with it the upset of the entire copper situation. In order conserve the s,ompauy's resources while the read 5ustment was taking place, the proper flies were shut down and while the financial atmosphere was in process oi clearing Dr. Ricketts and his staff tool off their coats and set about to bring order out of cnaos. They have sue ceeded. They have completely rebuilt fhe old smelter plants instead of build ing new one as at first contemplated have remodeIled the concentrating mills, brought about many other i'm movements in the system of handling the ores, have opened new mines ant .reopened old ones, and now that tn' word has been given to resume th' Cole Ryan management will place th' property on a producing basis Of 50 GOO. coo pounds of copper per annun with less than half the number of mel formerly employed. Dr. Tickets eA presses confidence in the ability | produce Cananea copper at 10 cent sper pound, sold Phelps, Dodge an company, who have large investment in the shares of this company, like wise express belief in Dr. Rickett ability to do this It is the presen pIan of the management to so operat fhe properties that eventually tn Greene-Cananea will produce 100000
 % pounds of copper per annum at
 cost of 10 cents per pound, and whe
 that time comes stockholders ma
 again expect to received dividends.