Daily Arizona silver belt., 1909-11-14
B|sBEE COMPANY |s OPERATING ON
 BIG SCALE
Recent Data Regarding the Superior & Pittsburg
 Mining Company

BOSTON, Mass, November 13.-- Trippe, Thompson & Co.,, have issued the following statement of a recent in vestigation of the properties of the Su- perior & Pittsburg Mining company, with properties at Bisbee.
 Authorized capitalization 2,000,000 shares, par $l0, $20,000,000; outstand ing, 1,50O,000 shares, par $l0, $l5,000,- 900; in treasury, 500,0O0 shares, par $l0, $5,000,000.
 The Superior & Pittsburg Copper company was formed June 30, 1906, ands is merger of the Calumet & Pitts burg Mining company, the Pittsburg < Duluth Mining company and the Lake Superior & Pittsburg Mining company.
 The company's holdings consist of 1854 acres of well located ground at Bisbee, Ariz,, south of the town and adjoining the Copper Queen and CaIu- met X Arizona properties.
 The property developed by three principal shafts-the Hoatson, 1,575 feet deep; the Junction, 1,555 feet, and the Cole, 1,450 feet. Two other shafts are located on the company's terri. tory, namely, the Briggs and the Cong don, whose ores are worked from the Cole shaft.
 The ores, like those of the adjoin- ing Copper Queen and Calumet X Ari. zona properties are of a smelling na- ture and are smelted direct. The aver. age is probably from five to six per cent copper.
 On account of the dip of the ore bodies, the Superior & Pittsburg re- quires deep shafts. A great deal of water is encountered in the workings, necessitating large and complete pump ing plants. As an example of the amount of water handled at the prop erty, it may be stated that during Feb. ruary, 3,770 gallons per minute were pumped for twenty.four hours per day In four years the water has been per manently lowered nearly 300 feet. The pumping, timbering and great depth of the workings on this property add materially to the operating cost.
 The Superior X Pittsburg property has not reached such a high state of as the adjoining Calu- met & Arizona. The question apparent. ly is, will the big Bisbee ore bodies con tinue their permanency into the Super for & Pittsburg property, particularly to the Briggs and the Junction ground9
 The company has large amount of good development territory.
 No figures are given in the annual report as to the tonnage of ore in re- serve. In this connection we quote the management as follows Our present rate of production shows a material in. crease over last year, and with the fav- oiable ground we are opening contin ually adding to our ore reserves, there is every reason to expect continued increase in the production,
 The properties in the Bisbee camp rarely carry ahead large reserves, as the ore is soft and requires heavy in crease if exposed.
 The ores from the Superior & Pitts burg property are treated at the Cal umet & Arizona's s shelter, located at Douglas, Ariz., 25 miles from the mine. The plant is of 2,000 tons daily capac- ity and is used jointly by these two companies
 During the year the company pro duced 23,294, ,259 pounds of fine copper and $121,29S was obtained from gold and silver. The average price received for copper was l2.94S cents per pound and the cost of production for the year was 12.32 cents per pound. Total operating expenses, including all items, amounted to $2,S23,313
 The production of copper for 1908 shows an increase over 1907 of 12,321,- S06 pounds.
 The company's balance sheet for 1908 shows accounts and notes payable of $l,695,775, with quick assets amount ing to $1,2l6, ,193,. leaving an excess of liabilities over assets of $479,5S2.