Bisbee daily review., 1910-09-27
.* MINING, MARKETS, FINANCIAL .*
REPORT OF THE BOARD OF
 DIRECTORS OF SHkTTUCK-AR|z.

line GtOCkuolQCAS OA
 Arizona Copper Company;
 Your board of directors submits the following report:
 Mir. l.. C. Shattuck. our largest stockhoider and a practical mining man of long and varied experlence who is at the head of our property has been plshing development work vigorously during the past year. anu only shipping such ore from tne mine to the smelter as he encoune cred in opening up the property making no attempt at mining out any of the other ore in the mine
 New ore bodies are being constant lv and systematically uncovered, so that the Shattuck ore reserves are being daily added to. making It one of the big mines in the Biseee cainp-
 The property is equipped in hrs- class modern manner to handle l,2oo tons of ore per day whenever the marke, warrants such output. we have about five miles of underground work on the property and over soo.- 900 tons of oxide and sulphide ores airea0y SnONn up dhd sSe SA's N& - ' small area of our zone developed
 At the rate of shipments as made today. it would take over twenty wears to mine out what ore we now have in sight and blocked out as we are only shipping 100 tons per day on an average and it will be kept to that amount until such time ss the price of metal will warrant an increase Prior to July 1st 1910, we mined and shipped from 15O to 200 tons per day. and some months made nearly 100000 pounds of re fined copper. which was as much as the whole territory of Arizona made Tn a year thirty years ago. =. A. B. w. Hodges. a mining ensin- ger and smelter expert, who now re- ceiyes a salary of $50 000.00 per year from the Cerro de Pascc Mining company of Lima Peru. is our con- sulting engineer. He examined our property in January. 1909. and again in November of the same year. He reported to us that between these dates of examination the amount Of ore in sight had increased over sey- entv per cent In July. 1910, he again reports: For the amount of the limited area prospected, you have developed large bodies of ore. l think you have a very valuable mine with present ore bodies in sight Again he writes: You have pros pected only a small portion of your ore bodies and sec far results have been very favorable, and it is my opinion yet have not found the richer oxide bodies yet"
 Walter Harvey Weed and Frank Holman Probert eminent geological and mining engineers of New York City, who examined our property last June, made a very careful and thorough examination for the Boston Stock Exchange report. In conclud- ing this report they say, among other flatter;ng assertions: The Shattuck property possesses real merit: future success assured. The Shattuck mine is now ready for its own reduction plant. It is a solid, safe and sub stantial investment, irrespective Of stock fluctuations and dependent solely on the maintenance or ad- yancement of present meta, prices, intelligent an economical mining. We commend the enterprise as a clean cut mining proposition with it's future assured"
 The foregoing commendation from such able gentlemen in their profes- sion. made from such a substantial and time honored organization as the Boston Stock Exchange. is sure Iy a very nattering recognition of the value of our mine.
 We own the absolute fee of the property. which with equipment and underground development work. is fully paid for and the company has no indebtedness of any nature.
 The report of our treasurer, which follows. will give you clear idea as to the excellent financial condr- tion of our company in our assets the item, Net amount due for ore sold, s433 ,985.71," represents the net amount we will receive from the smelter after they have made their deductions for all smelling selling and refining charges.
 We have on hand today cash and money due us for sales of ore already made, the sum of s6e5, 5,29s.5. which belongs to our stockholders. On July goth. 1910, we paid to our stock holders on initial dividend of $100 per share. or s350, 100000.
 The directors of our company will meet about Sept 27. next to declare dividend number two.
 For the directors.
 THOMAS PARDON, President. Dated August 1st. 1910.
 CATCH DOUBLE COL
 Cost of Property .. .-..
 .S3 022. .50000
 Permanent Equipment Of Mine, Sup
 plies. etc ..-... ..
 I79SS052
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