Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1910-01-30

Rumors have been rife in financial
and mining circles during the past
week regarding Calumet & Arizona.
aheie rumors followed immediately
upon the heels OF a drop in Calumet
& Arizona stock. which on the morn
ing OF January "a. mac registered a
decline OF . points for the week
The closing quotation yesterday was
20 IL
During the first para of the month
the &. a A. sold OF 1872 A dec ihe of
30 points within a period Of less than
thirty DAYS was sufficient rcason Tor
much speculation as 10 the cause and
where or.
TIE first rumor 10 strike Bishac
was that Thos. F. Cole and Col. l. W.
Powell were 20 retire from the dirsc-
iorate of the company. Another ro-
rort which gained circulation was a
row between Cole and the Hoatsons
ard that Congdon. a big holder IN The
conn ny. had cast his influence ON
tho side Of tae Hoatsops. Another
lcpar sept aut from Boston stated
trat stockholders werc afraid of un-
torground conditions ia the G.. 4.
ard were getting out
The Review has investigated these
rumors. both locally and in the eas-,
ard has iaiied to have them conhrm
"a in any manner to stamp them WITH
authenticity.
The Review learns that Thos r.
Cole Is {n Florida and Mr.. Congdon
b soiournins in far away Egypt and
Iron Ore of lshpemins. Mich. Is an
tbority for the statement that tnere
T. no truth in the report that the-e
has been a misunderstanding between
the Hoatsons and Tom Cole So far
rs he physical condition OF the G iu-
met &. Arizona and the Superior A.
Pittsburg properties is concerned. a
competent testimons available IS 20
the effect that the situation is better
thal a year ago. 1f here is anythiae
in The rumors % deterioration which
come from Boston and other instant
points. no wen informed person con
nected with the properties here viii
admit IL for a moment
The smelter figures certainly ID
NOS support the declaration that ores
are Ueterins out. and the miners who
work underground. and who might be
expected TO let fall some significant
remarks If the situation were bad
ere saving nothing whatever TO give
he color Of truth 10 the outside re
port
Success al copper mining anywhere
con lists largely Of turning up new oss
bodies as the old ones become small
e., and in this work the companies
rave been very fortunate JUST n3N
the sulphide body al Oliver. on ths
1850 level. has 100000 tons in sight
while il may extend a hundred Zee
further down. The discovery OF or,
bodies like this is q common thin,
in Bisbee and there is a vast exten
Of ground that has not yet been .u
Tor explored Further drifting ant
sinking may bring to light more sen
sational finds than have yet been an
uounced
But the proof Of the pudding Is il
the eating. which means. applied 2,
this particular case. that the proc
Of the ore is in the smelter outpu.
In view OF the fact thai this outpu
HIS dhtIi-tu ABOUT the same 70
months past and has shown a Sigh
increase lately, the alarming report
csn be taken with grain OF salt I
Is the belief OF many who ought q
know that the physical condition c
the Calumet & Arizona properties &
not the real cause Of the current d.
lurbance on the stock market. n
TACT the statement is justified thu
the underground conditions were neve
better
Calumet < Arizona is producing a
the present time at the rate Of abOg
q 10000 pounds of copper per an
mum. and il the present metal marke
affords a profit OF only cents pc
round. the indicated yearly profit.
are equal 10 S5.4G per share on III
companys 100000 shares Dividend
al the rate Of 81 per annum are noy
being declared.
he output Of the Calumet & ~
IONA smeiter which treats che UutDu
OF the Calumet & Arizona and Sups
rior & Pittsburg mines-was. for IN
year 1909, 26.2S4 tons of bullion