Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1910-06-03
ARlzoHA-MoRENci
COPPER COMPANY
IL. and NJ. JournaD

This company. with a capital OF
$4,000 600. divided into 1000 .00o
perferred shares Of IS each. and
100000 common shares of 50 each.
is being promoted in London for
sale of 100000 perferred shares Of
treasury stock at 21s. per share
Out of the proceeds from these
shares. which are being offered BIZ
the lifton-Morenci Syndicate. Ltd.
the company viii be provided with
funds for the construction of the
plant referred TO in the prospectus
and for working capital. The direc-
tors of the Arizona Morinci Copper
Company include Ex-Senators J. 3.
McCreary. J. p. Jones and S. W
Dorsey. besides several former
Government officials.
According to the prospectus. the
company owns over 1000 acres IN
the recognized and proved copper
bearing zone of the Clifton Morenci
district of Arizona" As to ore de-
velopments. it is said: ~On the pro-
perties belonging to the company.
the surface condition. oCtcrops and
geological features are exactly the
same as those on The other mines of
the district, ard the underground
workings show similar indications
From most of these claims orc has
been taken from near the surface
where it was easily obtained. These
workings, in conjunction with the
later developments. point to the
existence of enormous ore bodies be-
low. The openings show oxide and
carbonate ores at or near the sar-
face, and in the lower levels the an
DERIVING sulphides typical OF the dis
trict The surface enriched oxidized
ores can be relied upon to furnish
an average of Z per cent. copper or
better. and the sulphides 2 IL to
: per cent. Most OF the mines were
worked only for the high-grade OK
ides OF 10 to u per cent. copper.
which led 10 a most irregular de-
velopment of the ore bodies. Con
sequently, any exact estimate OF
ore as blocked out is not practicable,
but the amount OF ore available is
estimated, on a most conservative
BASIS. at over 100000 tons a.
present"
However. the company apparently
does not consider il necessary "a
develope its ore bodies so as to
make an exact estimate practicable
inasmuch as it proceeds TO outline
its plans for concentrating mill 81
20OO tons daily capacity and smeit
ing works OF 1000 tons daily cap
acity. Prospective investors are then
given an estimate that a smeltery OF
1000 tons daily capacity should
yield conservativeiy 24,e00.0OO ID
of copper per annum at a cost OF
10 per h., delivered at New York
A table beginning at Is IL G. for
/ copper. and running up to zoe. pei
ID. shows the average profit to b
expected. and it IS stated il blacl
/ letters that by Increasing the daily
output to 1000 tons smelted. these
/ earnings would be doubted" Finally
a table shows the beautiful divi
dends that have been paid by Cal
dmet G Hecla. Boston & Montana
Anaconda. United Verde, ct al.
1t is stated that the properties o
| the company have been subjected
to very careful examinations By
four engineers OF Clifton. Ariz.. ans
two Of New York. but NOTHING
special as to their reports is re
peated in the advertisement before
us.
The Acknowledgement Copper Com
pany appears 10 be the successes
OF the Copper Mines Of Arizona
Ltd, which issued a prospectus il
1903. The earlier prospectus ais
referred to the reports Of a list o
engineers. but included only that o
| }. o. Baylor. of Clifton, Ariz. who f.
entitled assistant engineer. tn
Copper Mines Company Of Arizona
Ltd" Mr.. Baylor talks about elegan
| asseys, early shipments. shows o
/ copper ore. Ixtension Of proved ore
bodies Of which there is no reason
able doubt. admirable tunnel sites
etc. with a cheerful vagueness, bu
he fails 10 mention any blocks o
ore that may be regarded as proved
Mr.. Baylor's report was Of July
1909