Daily Arizona silver belt., 1909-06-11
Mining and Financial News

has recently been set up. The new double drum hoist at the Eureka shaft | is now ready for use It is capable of sinking l,500 feet. Bes des handling the ore from the Arizona Commercial Copper eompany's mines, the new smel, ter will receive shipments from the Su reror $ Boston and possibly from other mines in the vicinity. The mine is now under the capable management of Assistant Manager John
 F. Pemberthy. General Manager ]. w.
 Beune ia now at bis home in Clifton,
 Arizona, where he is general manager
 of the Shannon Copper company. Hel makes frequent visits to the Arizona Commercial Copper company's property | in the Globe district.
 May Earnings of o. D.
 A production of S,Oss,000 pounds of 1 copper for the month of May would in | dicate net earnings by the Old Domin- | ion company for that month of not far from $75,0Oo. The company received
 an average price of l2.sa cents for th.s
 conper and it's COS s for the month were
 under Il cents.
 April costs were also under II cents
 and. on production of 2,s40,000 pounds
 of copper for that month, net earnings
 should have been in excess of S3O,0Oo.
 It requires just $50,000 ger month to
 pay the present iate of dividends.
 Every onec cert advance in the price
 of copper adds $S0,00o per month to
 the ret earnings of the Old Dominion
 company on the present basis of output.
 President Smith anticipates getting costs down 10 flat 10 cent basis be- fore the close of this year, and ii met al prices continue to advance, to in crease production to 3,500,0OO pounds per month at a minimum or 4,000,OO0 pounds at maximum.
 When prices for copper were extreme , ly low, the Old Dominion company pur-
 chased 5G,000 tons of sulphide ores,
 largely from Bisbee. which have nat
 urally shown the company very sat
 isfactory appreciation in value with a , one cent per pound advance in the price
 of copper.
 Superior & Boston At the Superior S Boston mine los men are at work at the Gardner and
 Great Eastern shafts and on the new
 bui. .dings and machinery which the com T pany is batting up.
 Most of the work underground. \ 7 present, is in the Gardner shaft where = crosscut is being made from level o' v 435 feet to the black oxide vein oi
 that section, which lies about 800 feet
 southwest. So far the crosscut hal s' been extended little over 400 feet T The MeGaw shaft is down to depti q of about 400 feet. It will be sunk t' r. the sixth level and then crosscut 95. n feet long will be made between th ( MeGaw shaft and the Great Easteri shaft, which is now 420 feet deep. Fron K the Great Eastern shaft winze is nov d being sunk to strike the Black Hawl 't vein. The winze is down about 16 l. feet and is still on the ore. The winz y VII be put down 50 feet farther an IS then drifting will be begun on the 6O ls foot level in the McGaw shaft. Tn " ore being taken out in developmen al averages per cent copper and run us from 6 10 ounces silver to the ton.
 The foundation for the 150oeubi' nc foot compressor is finished and double Sa drum hoist capable of sinking to l,so TX feet has been shipped and will be Sc ct up and ready to use some time in Aus lo ust.
 It Patchwork ;s now being built for th re boilers which are of Sterling make ns 500 horsepower.
 nd X corrugated iron building, 40 fe' re wide by 100 feet long, is now nearl 's- finished. This will contain we ne equipped machine-shop and sawmii
 The macnine-shop has been fitted, 1t. far, with 2-pipe machines, radiat' w drill. shaver, a lathe and m emer he wheel.
 nd The new office and warehouse bull ng ing was finished several weeks ago. be is 40 feet wide by 50 feet long. lp- The work at the mine is in charge of Superintendent w. F.. Carter, one of u ss- most experienced mining men of Il er- Globe district
 ndj President W. VI. hlce or tne oupci' on & Boston company will visit the mil is-$ in a few days.
 ly. Arizona Michigan he At the Telfair shaft of the Arlzon ka Michigan mine development work
 going rapidly forward under the ab ny direction of Superintendent N. A. N' ed son. The shaft is now down to dep ;tb of 420 feet It is 3-compartme ,u- shaft. About P men are at vol ,e. there. At depth of S95 feet, ha
 diorites were struck with specks of P ialI rite. No water to interfere with | ed work has yet been struck. A statl' ip. was put in on the fourth level. of At the 800 foot level a crosscut W m. be made north and south. This lev on should be reached about July 10. i've 25-horsepower gasoline hoist with sl
 gle drum is now being used in develo ,;ll ment work. General Manager s. ec- Clawson of Los Angeles visited t .he shaft Wednesday.
 ,th A New Flotation