The copper era., 1910-12-23
Continued from first page.

Dick Lakeman, manager Of the Missabe- Morenci Development com pany, is working two shifts on their properties west of Morenci.
 Col. A. Lafave shipped Saturday from the "Wonderful Mine" a 94O- ton car of ore to the Fl Paso shelter The colonel has 200 sacks of ore ready for the next shipment, which will be ready in a few days. This mine has many thousand tons of shipping ore blocked out, which the colonel is talk ing down and turning into coin of the realm.
 Geo. Stevens, the miner, was down from the Copper King Monday, where he has a contract from the New Eng land people on assessment work. Geo. says he will ship several carloads of ore from his own properties shortly after the first of the year. Geo. is one of the best miners of the district and bespeaks for the coming year one of the best the district has ever had.
 ONE HUNDRED MEN MORE.
 B. F. Arnold, who returned Tues day from Carlisle, where he has fn- ished his assessment work, reports that great activity in mining circles in the Mayfower district is being car ried on. At the Peaks about thirty men are at work and on the first of the year the force will, be increated by a hundred more. Arrangements have been made to move a 10-stamp mill from Lordsburg to the proper ties, but awaiting a meeting of the board of directors, this proposition has not been carried out. It is the opinion of at least two of the board who are on the ground, that a new 40- stamp mill be better adapted to han dle the output of the mines. New boarding houses and store buildings are now being erected, while several carloads of lumber are on the side track at York station, which is being hauled out by three big teams daily.
 Steve Corley is working force of men on his group, while at Pine Cienega there is number of men at work.
 At Carlisle there is little doing, though MT. Carlisle stated 1t is un- derstood that the Alabama mine would start up with big force short ly after the first of the year.
 This part of Greenlee county prom ises to be a leading factor in the prosperity of the southwest in the early future.
 THE BISBEE MERGER.
 made of the terms upon which super for & Pittsburg will be merged with Calumet & Arizona. The capital stock of the latter will be increased from 100000 shares to 65O,OOO shares and the new stock will be offered for Superior & Pittsburg stock on the basis of one share of Calumet for each 34 shares of Superior, provided a majority of the stock of the latter is deposited for exchange before April 1 next. In the event that a majority of the stock is deposited, the merger will be e.completed, but prior thereto dividends will be paid to the Superior & Pittsburg stockholders equal in the aggregate to the total amount of dividends paid to the stockholders of Calumet & Arizona between August 1910 and April l, 1911. The acquisition of the entire outstanding capital of Superior will absorb 42S, 900 shares of the proposed 45O 1000 shares increase in Calumet & Arizona's capital, leaving 21,5OO shares in the treasury to be used for such needs as may arise later.
 The announcement of the above arrangement proved to be the signal for a four point decline in Calumet & Arizona to 46, which was a good deal of surprise to the financial community, which had expected in stead a marked improvement in the market position of Superior & Pitts burg. On the basis of SI3 for the lat ter, Calumet SC Arizona would have a theoretical value of S45 a share so that in view of the failure of Super for to respond to the terms of the proposed merger. it was inevitable that Calumet & Arizona should un- dergo d decline from its recent price of 52 In other words, if the mountain did not come to Mahomet, 1t had to go to the mountain.
 
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