Weekly journal-miner., 1909-11-17
BIsBEE COMPANY IS oPER-
 ATTNG ON BIG SCALE

BOSTON, Mass, Nov. 10.-Tripp, Thomson & Co. of Broad street, New York; capitalization: Authorized, 2 100000 shares par $1O, $20,O00,OO0; outstanding, 1,5OO,OOO shares par, s1o, $15, 100000; in treasury, 5O0,O0O shares par $1O, $5,OOO,OOO.
 The Superior & Pittsburg Copper company was formed June 30, 1906, and is a merger of the Calumet & Pittsburg Mining company, the Pitts burg & 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 Calu- met & Arizona properties.
 The property developed by three principal shafts-the Hoatson, 1,575 feet deep; the Junction, 1,555 feet, and the Cole, 1,45O feet. Two other shafts are located on the company s territory, namely, the Briggs and the Congdon, whose ores are worked from the Cole shaft.
 The ores, like those of the adjoin- ing Copper Queen and Calumet & Arizona properties are of a smelting nature and are smelter direct. The average 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 February, 3,770 gallons per minute were pumped for 24 hours per day. In four years the water has been per manently lowered nearly 800 feet. The pumping, timbering and great depth of the workings on this prop erty add materially to the operating cost.
 The Superior & Pittsburg property has not reached such a high state of development as the adjoining Calumet & Arizona. The question apparently is, will the big Bisbee ore bodies continue their permanency into the Superior & Pittsburg territory, par ticularly to the Briggs and the Junction groundf
 The company has a large amount of good development territory.
 No figures are given in the an nual report as to the tonnage of ore in reserve. In this connection we quote the management as follows: "Our present rate of production shows a material increase over last year, and with the favorable ground we are opening continually adding to our ore reserves, there is every reason to expect a continued increase in the production"
 The properties in the Bisbee camp rarely carry ahead large reserves, as the ore is soft and requires heavy if exposed.
 The ores from the Superior 6 Pitts burg property are treated at the Calumet & Arizona's smelter, located at Douglas, Ariz., 25 miles from the mine. The plant is of 2,000 tons daily capacity and is used jointly by these two companies.
 During the year the company pro- duced 21,294, ,259 pounds of fine cop per and $121,29s was obtained from gold and silver. The average price received for copper was 12.94s cents per pound and the cost of production for the year was 12.32 cents per pound. Total operating expenses, in- eluding all items, amounted to $2,- S23, ,3i3.
 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 pay able of $1,695,775, with quick assets amounting to $1,216,193, leaving an excess of liabilities over assets of s479, ,5S2.