Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-03-22
INTEREST IN
lEADv|LLE is
MAIN FEATURE
Calumet & Arizona Directors
Allow Option to Expire Con-
tray to the Expectation of
Everybody.

The feature of the past week in th9
local mining situation has been the
meeting of the Calumet & Arizona III
rectors and their determination noL
TO take advantage of the option which
they held on the Leadville property.
Cleveland H. Dodge, member of the
Phe1ps-Dodge Company also arrived
in the district yesterday on a trip of
inspection, but made no announce
ment, further than what he had al
ready seen had pleased him very
much
For some time past it had been ru-
mored that the group of claims al
Leadville which was under course of
development by the Calumet & Ari-
zona Company had proved to be a
wonderfully rich property, and that
there was no doubt of the taking up
of the option. This opinion was fur
Their strengthened by the passing Of
the regular quarterly dividend of the
C. G. A. at the regular meeting held
in the east a few weeks ago.
Early in the week some of the di-
rectors arrived here from the east
and on Thursday Thomas F. Cole and
Charles Briggs arrived at Douglas,
from which point the former made a
trip Immediately to the LeaovIile
property, where, It is understood, ne
was joined by William Kemp, the
well known mining expert, A thor
ough examination was made, and the
party then came on to Bisbee.
On Friday morning meeting Of the
directors was held, at the conclusion
of which a statement vas given out
by Mr.. Briggs, president Of the COM
pany, that it had been decided not
to take up the option on the Leadville
property, as the ore body which hao
been encountered lad proved dis
appointing. He said further that no
action had been taken in regard TO
the payment of Quarterly dividend.
The Calumet & Arizona still has a
number of properties under bond in
Pima and Pinal counties, the most
promising of which, according to the
statements of one of the directors.
being that located at Mammoth. The
option on this property does not ex-
pire until January 1 of next year
when it will undoubtedly be taken
up.
At tae Copper Queen properties
there has been no material change
during this week. Progress is being
made steadily on the changing over
of the system Of hosting, the ores,
and the new power house will be
ready to put into commission within
comparatively short time. The
grade for the new railroad spur to the
Sacramento shaft, through which all
OF the ores will be hoisted under the
new system. has been completed, and
the rails will be placed within short
| time.
A great deal of development wnrk
and prospecting are also going on in
the Copper Queen properties, normal
production being maintained with
very little effort from the great bodies
Of ore already blocked out. There
has been no material change in the
| formation at the Uncle Sam shaft,
which has been sunk to depth of
I 22o feet.
REPRESENTATIVES of a number of
big machinery houses have been IN
| Douglas during the week preparing
their bids on the ShattucE-Arizona
smelter. which will be constructed al
| that point as soon as a decision on
the bids is made and the contract
let.
At the mine the Shattuck is going
ahead with a reduced force of men
deyoting most of the attention to de
velopment work in new ground, and
the blocking out of the already known
ore bodies.
I At the Denn-Arizona diamond drill
operations are going on from the 1,l0l
level.
The smaller properties are also go
ing ahead with development work.
The price of copper has held firm
during the week and has been in
creased about half cent a pound
since last week. This has been thu
second week since there was de
cline in the price of copper and while
the advance has been only by eighths
still it is encouraging to know tina
1.-THE market has shown such strength
as 1t has. While stocks were showiDt
strength as the beginning Of tn
week. during the past few days the,
have been falling off some.
During the week there has been n
, material change in the number O
men working in the mines. The pre-
ducing companies are maintaining
| somewhat increased force over IN
! number of men at work at the Oeg:r
, ming of the year. II Is expected tina
the force of men in the mines will b
increased. however, as the price Q
! copper advances and as the addition
/; al reduction facilities are provided q
4 Douglas.