Bisbee daily review., 1909-04-13
]. MINING, SHELTERS AND STOCK QUOTATIONS
ARIZONA EASILY LEADS
 IN COPPER PRODUCTION

100000 pounds, I should judge. This. of course. is taking exports into con sideration, as well as domestic con sumption. On the whole, then, the market is no worse off than it was at the first of the year. though a power ful element has apparently gained control and put prices lower than is warranted by conditions in general
 Phelps Dodge Stock Listed.
 There have been listed on the New York Stock Exchange shares of the Phelps-Dodge Company, Inc, to value of S44. .934, GOO out of the capital stock of $50 ,00O. .O00. The remaipder. $64 800, will be listed on notice of is suance in exchange for outstanding stocks of the subsidiary companies.
 Phelps-D Dodge Dividend.
 The American Metal Market, New York. says: Tn declaring an initial dividend of 1-2 per cent on the S50.- OOO. .0O0 capital stock of Phelps, Dodge & Co, Inc, directors were guided en- tirely by the earnings for the current quarter which will end March 3lst. No designation as to whether future payments will be at quarterly or semi annual intervals was made. To pay the $250 per share inst authorized s1 .25O, 900 will be required to make disbursements on the 500, 900 shares of capital stock. There have as yet been no public transactions in the new Phelps. Dodge & Co, Inc, stock. although we hear quotations of l5O bid and 200 asked. The new stock now stands in the names of about 15O persons. and aside from being held by members of the former firm of Phelps, Dodge & Co. and allied interests, is owned by employees of the company
 who were given an opportunity to take I'D S1 GOO. 900 of the new stock at a fixed price. One of the bylaws
 provides that neither Phelps, Dodge Co. Inc. nor any of its subsidiaries shall speculate in the firms securi ties
 Arizona Commercial.
 In his report of operations at the Arizona Commercial, Globe district, Arizona. President Amster says: During the year ended December 31, 1908, we spent S15S,605 for develop ment and exploration of the mines, SPA ,093 for equipment and construc- ton and s16,501 on the railroad, or a total of s194, 200 for improvements" !" Mir. Paine of Boston Options. A rumor is current in Butte. Mon tana, that Mir w A. Paine of Boston who is largely interested in Lake Su- perior copper properties, has an op- ton on HOO 900 shares of common stock of the Pittsburg and Montana Copper Co. at S2.50 a share. Mir. H. V. Winchell, mining engineer, former ly on the staff of the Amalgamated Copper Co, recently reported on tho property. It is stated that the Pitts burg & Montana company will be merged into the East Butte.
 Ray-keIvin District.
 As learned through report from Phoenix, Arizona, papers have been
 recorded in Florence. Pinal county,
 Arizona, consummating a deal made l three months ago when Adolph Lew | isohn, of New York, acquired the prop erty of the Kelvin Calumet Mine | company in the Ray-Kelvin district, ! Pinal county. for $2,0O0,000. Terms are that $500 900 is to be spent in de velopment in the next year, the bal | ance of the price to be paid if the property develops as specified. This | is the ground on which the Ray Cen l tral was organized by the Lewisohns