Bisbee daily review., 1912-10-10
OLD DOMINION
/. HAS RICH ORE
Six Feet 0f tS PC. Cent
Copper on Sixteen HIM
dred: Promising to
{. & A. Property
THE GREENE-CANANEA

Recent advices in Bosfo., ere TO the
effect that tho strike at TIE Old no
mirion on the 1900 foot ievel is oEen-
ing up very Wen and at last acc2uats
six feet Of ore was exposed aaatyirE
ISf, corner.
The new ore is located IN the
eastern portion Of the mine in the
United Globe ground ana $ - the
deepest workings Of the Old Domia-
ION property The ore & dirert
smelting and Of excellent graIe re.
ing higher than that On the 18th
level above. Owing 70 is char.ic.
Ter which is chalcopyrite and : 'r.
mite, the indications are tha. = u
show perman nco with dapth
The possibilities OF TINS gr)lnd
viii re seen when il is aiate5 that
the nearest workings are located 90
feet above. while in depth AM for
approximately one nile 10 the cast
ward the ground is unprecedented.
The indications are that n this poT-
ton of rhe mine the Old noairion
Co. will develop an important ore
body and one which viii add lerse-
~ to the properry'a reserves 7.
may be said that che Ee.f develop
ment is regarded as one OF tn most
important which has taken U'arc at
the mines in years
Calumet & Arizona.
At the property held IN len Cnjicn
by Calumet g. Arizona. ~ "iiles
south Of ella. known as the New Cor
nelia. about half OF t7e ariH ex.
nloratior necessary to test II thor.
cushly has been cowpleted. The drill
work continues steadily aU4 in ad-
dition. pits and shafts are being
sunk 10 check up the drilling aroalv
done. The deposit consists C ccp.
per carhonates 70 a depth II about
20 feet, and below that ~ indef,ite
depth Of copper sulphides, bot. cir
donates and sulphides running about
Pc copper. None Of the test pits
have gCt down 10 the ssilpEide. II
ii is possible to work the orr prof
.tably ald enough volume is 1rovrl
up, the proposition wouij be o,e-.
ated as an enormous s-aar shovel
enterprise, which il is st2red by en-.
sineers would be the cheapest for
handling the undertaking u tic.
world The values are satisfactory.
say Cav q Suursis. and Inc vnulo
issue hinges On tonnage ard treat
ment
Greene. Cananea, /
There has besn some s=rol- buv-
ing Of Green Canauea this week.
which was apparently based Oh the
belief that the stock is cheap IN viuE
Of the earning power ana dividend
basis II is understood that a art
erly dividend of % cents viii ne lie.
clared toward the end of this ~ nth,
which win place this stock on b sis
of annual dividends of 81 per Shrss
as against The fifty cent Tcr auuu'n
basis that has been in force II IS
learned that the Mexican trouIlrs
have at no time interfereC With the
operation Of the mines ami smcltCr
and thai shipments TO the United
States we're delayed for only few
davs
1t is understood that the OUTPUT
in September was about tho same
rs in August when il was tGE4.nfsi
lbs. The company is treating the
Miami concentrates. aside frCil lis
own production, but as The -nncC1-
trates are fed directly into the con
verters and do not 90 through the
shelters the only interference with
the Greene Cananea mines output
is in the converter capacity ard this
is being remedied by additional fur
naces, bringing the capacity up to a
monthly production of 6.10G Oo0 lbs.
for the Greene Canauea without m
Guiding the Miami concentrates.
It is believed that with Ru output
of 100000 lbs. monthly The Greene
Cananea can earn better than 50 per
share for the stock and On the pres
ent outIUt OF 4,0OO,0 GOO lbs per
month the earnings are unde rstoNl
to be in the neighborhoOd of $50
per share. a dividend rate OF 81 per
annum would, therefore. b a con-