Bisbee daily review., 1910-01-23
TAXES LARGE CASH SUPPLY
 ID DEVELOP
Horace Stevens Says a Million or 1.-Two Has to Be Spent in Lake Superior District to Get Results.

BOSTON. Jan. 22.-Horace J. Stev.
 ems of Houghton. Mich. now in Bos-
 ton says:
 l Tn the present copper boom ihe
 Lake Superior district is engaging
 more attention than for perhaps 70 years past Ontonagon eodnt {.
 which was very unpopular with both
 investors and specuiators for many
 years. seems to be coming into it's
 oSn again, tue primarily to the phe. 1 nomenal showing al the Lake mine,
 aided by the rich conglonleraoc dIiH core recently secured at tine Indiana. ''It shcu'd be borne in mind that if all the work done in actual mining s two generations past in the Lake
 Superior district had been devoted solely to exploration. the distric.
 would not yet be prospected. In many respects the Lake Superior copper field Is the greatest mineral field in the world. There is nc other mining district that begins to com pare with the Lake Superior field in the number and size of possible orr bodies
 ''In a crcss section of the Kewee- naw trap belt of the Lake Superior district. there are approximately 300 trap beds-oid lava flows. each Cf which has an immense amygdaloida. upper portion commonly called 'amys. daloid in the Lake district. In addi- ton there are about 90 intercalated beds of congicmerate yielding total Of upwards of soc anygdaloid and conglomera;e stratified beds any une Of which may carry copper in worka- be quantities at some point.
 Tt is for this reason that the srani- children of the present generation will be exploring the La6e Superior district and finding new mines in old properties IL is because of this succession of strata that il has been possible to make the most successful mines oi the past decade from prop critics thoroughly discredited in the past
 The Lake mine, now the sensa- tional Lake Superior succoi1, was one Of the greatests failures ever known less than tbirt wears age. when in the hands of an Englisl company. The Ahmeek was a dis credited prospect for a generation.
 The Centennial mine was a fail ure on the Calumet conglomerate and not a success on the Osceola amygdaloid. yet is doing fairly well on the Kearsage amygdaloid.
 'It should be borne in mind, espe- ciallv by some of the nOvices in cop Der mining speculation and invest ! ment. that it requires an average ot ! about five years and an average oi i at Ieasts s1,000.oQ0 to make a pront- able mine in the Lake district. 't freouently is the case that s2.0Oo,oh0 i is required instead of SI.o0o.00o. and | it unfortunately happens at times that l g.. .e0O. 900 honestly expended, fails 70 | make paying mine.
 "Comparing the present copper eN- | citement with the great copper Loom I of II years ago, the most impressive i fact is the very great increase in pub 1 lie interest. There are 10 people n | the United States interested in cop per shares today where there was one eleven years aga
 ~As to the future course of the eoi, | Ter market. I believe that the metsi situation is fundamentally sound, and look for much better conditions in | the copper trade for several years 10 l come than haze existed for three years past. |
 As to the market situation. l be- heve that higher prices are incvitaois' and the poorer stocks will be taKel i a-ong with the good ones. but the ni2a 1 ghO buys in a copper boom only | uch stocks as he is willing to cary l on the down turn in case be over i stays the market is the man who H:h be safe .whiie the chap who is caush- with A Ynenagerie on his hands In the 1 breas that must come inevitably at some time will find trouble, as ever heso-e in disposing of his eats and 1 dogs
 q have advised my friends snons | the Boston brokerage firms to demana and exact increased margins. Thes. customers vili rise and call them Messed for 70 doing"