Bisbee daily review., 1908-12-20

pose between now and March. as auel that date the country's affrfrs wiz be under the direction of a man who wln be able to understand that s50,09o,- 00e annually of copper and silver pro ductiOn is worth more to the country at large than the product of $40O,oUU worth of farms; and that 10000 min CTS and smelter employees whose wages average over $100 per month deserve some more consideration thai 500 to 1000 farm laborers who work for $35 to $50 per month. If the cop per industry referred to were to be swept away, the value of the farms would shrink about 90 per cent, as the farmers wilo are making the pro test find their market in the copper mining and smelling cities.
 Holders of AmaIgamated stocx should not worry about the smoke nuisance or the threats of it's fnvesti- gation. There is only one side to this controversy, and it will be settled right. Amalgamated stock is worth S100, and I think it win sell at that price next year. Early this year | repeatedly predicted that Amalgamal- ed would sell up to $50 in 1908, and the prediction has come true, notwith- standing that dividends have not been. up to expectations. Next year the company win pay at least S4 per share, and I think S5 or S6. On reaction Amalgamatej should be bought TOT speculation, and also for investment 4 mining engineer who has spent considerable portion Of his life in the southwest, expresses surprise that the stocks of old Dominion and companies holding surrounding properties al Globe are enjoying such remarkabfe market popularity while Greene Cana nea is selling so low. He says: remember that in 1886 Old Dominion
 was producing copper and was con
 sidered one of the richest mines m
 the country. Since that time 1t has
 produced hundreds of millions Ui pounds, and has been the scene of the
 expenditure of very large sums ol
 money, but to date it has distributed
 less than Sl,OOo,000 in dividends al
 told I figure that the Old Dominion
 and otaer immediately adjacent prop
 critics. have a market valuation of ap
 proXimateIy $3o. .00G, 900, and that then
 production, all of which goes througt
 the Old Dominion smelter, is only 35,
 though only about 10 years old, dis
 bursed a total of $7,450,5S0 in diyl
 dends. which probably reIFesents
 more than one-half the money Wmct
 has gone into the several properties
 that now make up the Greene Cana
 nea.
 Although the Greene Cananea com
 many owns over 60,0O0 acres of min
 eral lands and has, three or four of thE
 worlds largest deposits of copper ort
 deyelouged. In addition to these, there are on it's property several large gos
 san outcrops under which no develop
 ment work has been done, but Wh1ci unauestionably are the caHpings O very valuable ore bodies. The man agement is one of the strongest min ing and business organizations to b' found in any copper district. Th' smelting plant has been rebuilt, al
 of the furnaces being new. Whel everything is in shape for full vol [ ume of operations, each of these fui naces will put out approximately | OOO, 900 pounds of copper monthly, sa! 60. .OOO 900 pounds annually, and tn , cost should not exceed 10 cents be | ' a 15-cent copper market this will giv the company earnings of S4,5Oo,oO annually, of S1S0 per share for it
 capital stock; but it will by no mean !, represent the limitation of this con , pany's productive capacity. What I have said does not meal
 that I am not believer in Old DomiT i, lion, Arizona Commercial and the othe mines at Globe. They are among tn richest copper mines in the world; bu notwithstanding this, the Old DomiI
 ion, under what must be classed a i very good management, has signall : failed to make a reputation as a l earner of profits. l. sekns to me tha I the stock market is discounting tn
 future possibilities of the Globe mine |. very much mere rapidly than is wal Q ranted, while it Is very plainly oye
 looking not only the future but tn q present value of Greene Cananea. = is quite probable that the nam : Greene, just now very unpopular, ma
 be partly responsible for the very lo'
 selling price of Greene Canane :, stock"
 The engineer I have quoted owe y l. looks the fact that the $7,500,O00 ma ket valuation of Arizona Commerci' and Superior & Boston is predicate U !, on the development of new ore bodie of great value from Which there hs 5 been as yet only a very little coppt s' produced. On the other hand, Green s Cananea has millions of tons of ol 's ready for stoping in the Cananea ID l luth and other mines from wh1c lt thare is practically no present outpu v feel that Greene Cananea stock " very safe speculative investment, le is not likely to sell much, any, D U low S11, and I think 1t will be wort ,, twice it's present price within yei !. CT two.
 -o7---