Bisbee daily review., 1912-05-05
CANANEA MINING NEWS

CANANEA, Son, Mex, May g.
The mining industry is beginning to
show the effects of the present polit-
ical situation in Mexico. this week
there being added two more proper
ties to the list Of the idle, La Cobrlzt
and Manhattan exploration companies.
Throughout the state. especially in
the southeastern portion and certain
sections IN the central part, many
properties now idle are small oncsaud
the number. OF men thrown out of
employment is not large at any one
camp. However, if conditions become
worse it is not amisS to predict that
almost all the larger concerns in $50
lated portions of the state will be fore
ed to discontinue operations. Railroad
operations badly crippled, but trains
are now operated as far south as
San Bias, Sinaloa. Should the road
below Empalme be interfered with
to any great exten. all the properties
on the Yaqui river will be forced to
close down.
The most important announcement
Of the week is the proposed re-crgani-
cation OF the Calumet x Sonora Of
Cananea Mining company, which is
TO be brought about in the near fu-
turc. According TO adviCes from Du-
luth. at a stockholders meeting at
Duluth recently, the proposition Of J.
1 y. PerCiYal was accepted A new COM
I pdny will be organized with d capitali-
latiOn Of 2j0,GJ0 shares at a par
value OF $40 per share The stock OF
the old company, amounting to 60,oDO
shares, will he retired, one and d halt
shares Of the new stock 10 be OK
changed for one OF the old. Fifty
thousand shares 20 into the treasury
and the remaining 10000 shares will
be disposed OF at 81 per share, the
cid stockholders being alioE ed to pur-
chase 20 per cent at the price, the
( reorganizers taking care OF the bal
ance. This will bring in $4,000. and
/ $4,000 OF this will be placed in the
! treasury and the remainder used 10
lpay OFT the Indebtedness OF the old
company.
H. is rumored in Cananea, that the
prime mover in the reorganization
lplars is Henry 3. Hovland Of Duluth,
who was here about a month ago look
/ ing into the affairs OF the concern.
.
/ carefully accompanied by an expert
1t was planned by the old com
pauy to discontinue operations on
May first, but the decision arrived at
las mentioned in the foregoing, II was
decided that the operations continue
OH the same scale as during the pre-
yious month. Word was received here
to the effect that work would con
-,
operations. Both the tHet and dr.
mills are operating steadily, but no
lnew mining work Is bein, done as
there is q sufficient amount OF ore
broken TO run the mills for some time
to come, At least until January next.
With new blood III the &. and s d
successful operation OF the properly
is predicted.
The annual meeting Of tho North
ITigre company is scheduled for May
& at III Paso. At this meeting it Is
respected that steps viii be taken
for the resuming OF operations at the
property OF the company, which adj
Joins the famous III Tigrc property,
abO II 20 miles southeast OF Douglas
Ariz Machinery will necessarily BE-
installed before any additional work
can be done at the property TO ans
/, great extent, aud this viii probably
} be ordered AT TIE meeting.
The Manhattan Exploration com
= pany, which has been operating q prop
erty on the Yaqui river, near. Ala
. mos. in the district of that name
cessed .oIMratioifS on May nrst unit
such time th8t conditions alloWel
: RESUMPTION,
ba9PbFiza Mining company, which
; has ,behD. operating copper proper
) ty northwest OF Carlo for tho pas
few years. has closed down the mines
. and all other work ceased. no more
. work will be Gene until things arish
themselves. President Emery of h'
company recently returned from :