Bisbee daily review., 1908-04-05
B|SBEE MINES
SHOWING UP
IN GOOD SHAPE
The Enlargement of Calumet &
Arizona Smelter is Being
Pushed - Copper Queen
Completes Extension,

The principal interest during the
week has been cehtered on the Calu-
met and Arizona and Superior and
Pittsburg properties. because of the
receipt OF annual reports of these
two companies and the publication of
a. synopsis of the information con-
Itained in them. The reports should
Sc sufficient to strengthen confidence
in these companies as they are shown
to be in excellent condition. The re-
port of the c. and A.. made by Presi-
dent Briggs. shows that notwithstand-
ing copper was sold by his company
in the month of last November at
Sl2y4S the average price received Tor
the copper output last year was a lit
tie over IS cents per pound. The
highest price was received in the
month OF June last when the price of
copper was S25.e2.
Early in the week tire was a num-
Der of men discontinued in the prop
critics of the Superior and Pittsburg;
just how many is not known but the
reports indicate that the force in
these properties was cut more than
one hundred men. The cause for THIS
action may be found in the report
of General Manager Powell, who says
undertaken by the Superior and Pitts
burg last year has been practically
completed. Whether this is the true
cause of the layoff or not, it is known
that enormous bodies of ore have
been developed in the Hoatson shaft.
Until the smelling capacity of the c.
and A smelter has been increased it
is likely that development work will
not be pushed in these mines, be-
cause of the large bodies of ore al
ready blocked out
Calumet and Arizona and Superior
and Pittsburg have suffered decline
on the stock board this week, along
with the other favorite coppers. The
c. and A. dividend of only 81 per
share for the quarter. as against a
quarterly dividend of $50 last fall,
may have had something to do with
the lowering of the stock price.
Concerning the C. and A. dividend
Iron Ore has this to say:
Calumet and Arizona has dec1aI ed
a dividend of $1.00 per share payable
the 25th of the coming month. 1t
had been thought by many that the
dividend would be passed, following
the practice of many of the copper
producing concerns, but the directors,
at meeting held in Bisbee this week,
decided to make the above distribu-
ton, which can easily be done.
Calumet and Arizona has been as
sisting Superior and Pittsburg, loan
ing this concern large sums. 1t has
other investments, and besides has a
considerable stock of unsold copper
as well as cash in its treasury. 1t
is in splendid shape financially, and
physically. Its mine never looked so
well in reserves of high grade ores.
1t has made some very fine discover
les in the past year and is in condi-
ton to make money very fast when
ever the market asks for metal at fair
price The company can meet any
competition from any quarter. its cost
for making a pound of copper being
very low.
Its loans to Superior and Pitts
burg are well protected. Superior
and Pittsburg is fast reaching point
where it can earn money to pay all
its obligations as well as to pay div
idends to its shareholders. We be-
lieve this will be made apparent
when the annual report of the com
pany is issued, which will be in a
few days"