Bisbee daily review., 1911-01-20
MAJORITY FUR BON \ MA
 MERGER

opinions Of holders of Calumet & Arizona and Superior & Pittsburg shares o warrant the prediction that the vote to merge these properties will De practically unanimous. says Iron Ore.
 Those Hho thought one side or the other was getting the better Of the propositioa have concluded that the plan Is about as fair as could be made. 5s not being the easiest thing in sAs world to satisfy holders Of diferezt issues in a trade of this character. But as time has been takea eo look more carefully into all the fsatures of the plan, the share holders have seen that t is about right The fact that the combina- ton will be a fine dividend earner and pzyeT from the outset is pleas ing to many who have waited seY- eraI gears hoping to received some such return from their investment. The sozbined properties will make one e< the strongest copper con cerue la the business, because they will se enabled to make copper at a vrry low price. The ores of these compaaies are rich and they also hold important gold and silver values thas gre a great help in making diyi- deRSs. The combination will effect great saving over the present plan and saving is the keynote of success in sae copper mining and copper making industry. These ores are all es the directsmelting class and they need no assistance from outside mines iR the furnishing of the ele- mencs desired for perfect operation in the stack. They are many econ omies being rracticed in and about these mines and smelters that will be reaected in the report for the present gear.
 The most important feature of these miaes is that they are developing splendidly, with the grade of mineral remainlng high. Calumet & Arizona has always mined ores that averaged well, and it has not skinned on the cream from all the deposits as many compaRtes have done, leaving the lower grades in times when metal prices where high. Calumet & Ari zaua has taken its ores clean as il encountered them. and if anything was left it was the high grades, these being permitted to remain until need ed with leaner ores this providing the enclosing walls were sufficiently stable to permit il. Calumet & Ari zona does not open its ores Ions way ahead of mining because it has been the invariable rule that where ores have been very rich in the Bis bee camp the hanging walls hayt been bad, fr-abIe and inclined t' swell and shut levels up unless mucl work was put into the timbering. & il has been the practice to opel ground only a reasonable way ahea' Of the stoping. Because of thi method there may not have beel so big a tonnage shown in reserve as would be the case with a poryhy ry formation mine where the groun would stand open indefn tely. A any rate the Bonanza Circle peopl no longer worry about the tonnage O ores in sight They have informatio enough to satisfy them that the have a good future. In connectin the several shafts of the group wit one another some long drifts hay been put in, this being fmperativ because of protection to the me and fla securing better ventilation.
 We predict that 1911 will have vi ness 0 great gain in ores develOl ed n the properties that are 500 fo he merged in the Bisbee caml Great ore areas are binS now ente ci in both Calumet & Arizona an Superior & Pittsburg that are certai Co show fine returns in the smelte These ores are high grade, bein Tlcl fh copper anu eSlNs eAAN
 custs no moro to treat the ton rich ground than the ton of lea There should be some very satisfa tory reports for the shareholders the year we have just entered
 Shoald the merger carry, as 1t ce tainIy will, there will be a divider Of 4e cents per share 10 holders the Superior & Pittsburg stock b fore the new merged stock Is issue This will be paid out of the surplV of the Superior & Pittsburg compan Calumet & Arizona will have pa with the outcome than Iron Ore whi' another dividend of $1 per share b fore the time set for the amalgam ton or interests. With two go' ea-ners combined there should something realized in the way of pI fits that stockholders will be nut pleased with.