Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1912-09-26
DOUGLAS TO GET
SHATTUCK ORE
Product of Mine VIII BE
Treated by Contract at
Reduction Plant
in Douglas
GOOD NEWS RECEIVED

That the Shattuck VIII not 81 once
! construct a smelter at Douglas. but
| has let 70 one of the big mining com
panies owning smelters at Douglas
1 the contract for smelling the ore out
1 put OF the Shattuck, was rews re
! we'd In the city yesterday by private
4 telegram from Chicago, where a meet
/ ing of the Shattuck board Of directors
was held to consider the propositions
made by the Copper Queen company
/ and the Calumet and Arizona Mining
/ company.
The local officers were advised that
| the proposition that was accepted was
/ favorable to the Shattuck.' which is
| locally interpreted to mean that the
I directors of the Shattuck considered
/ that the terms of the contract made
| il better business to have their ore
smelted than to smelt It themselves.
Contract is Awarded
While IL may be definitely stated
! that the contract was awarded TO
| either the Calumet and Arizona or to
the Copper Queen, it may not be
stated which company got the con-
| tract
| Captain Greenway was at Chicago.
/
las. of the Phelps Dodge interests,
/ was out of the city also. w. B. Cob
ring. mine superintendent of the C.
and A. stated that he had not been
! advised OF the letting of the contract
| by the Shattuck. s. W. French, gen.
/ eral manager of the Copper Queen
mining company. also stated, over the
| telephone from Douglas. that he had
/ heard nothing Of it.
/ Proposition Accepted
| The message received in Bisbee
/ stated that a proposition favorable 10
I the Shattuck had been accepted and
| that the shipping of ore would be-
| gin Immediately" As the c. and A.
| smelling plant at Douglas is with
| ont sampling facilities, it is assumed
! by many that the Copper Queens
/ proposition was accepted. The c. and
/ A. smelter will not be completed I'M
/ Ill next August.
/ The information received at the Of
/ fee of L. J. Overlook was TO the ef-
/ feet that the C and AS proposition
was accepted, but official confirmation
at the c. and A. general office here
| could not be obtained.
I At the Shattuck Office here ii was
stated that the force nov employed
| on development work at the mine
numbering 100. would be raised to
approximatel 300 miners, and snip
ping of ore would start at once.
Dividend to Be Declared
/ An interesting report circulated
| soon after the receipt of advices FROM
| Chicago was that Shattuck would de.
! clare n dividend on October l, that
at least a portion of the smelter re-
| serve fund would be distributed to
stockholders in dividends. The last
dividend by Shattuck was declared
] in February of last year.
| No definite adyices TO the erect
that the Shattuck had abandoned its
| smelter plans were received, but the
| inference that II has seems to be JUS
! tifable. Ii was generally known that
the purpose of the meeting at Chicago
Yesterday was 10 let contracts for the
! construction Of a smelter at Doug
las with the alternative Of accepting
/ a smelling proposition from one OF
the two mining companies owning
! shelters at Douglas.
Market Responsive
The news of the smelling agree
/ mHnt mad ldNOIdDlo NASNt vi -
Boston market, the stock advancing
to % ~.
The announcement o. resumption
of active mining operation at the
Shattuck mine will have good effect
on business of the district, and one
of the immediate benefits will be the
Increasing o. the company's pay roll
to 300 men or more.
Profit is Material
/ II is figured that, mining 4OO tons
of s per cent copper ore, the Shattuck
would earn profits amounting to ST.,
971, 900 year. Il is conservatiyely
estimated that Shattuck will be able
TO mine copper at eight cents per
pound. or twelve dollars per ton
AT seventeen cents per pound. Shat.
tuck's eight per cent ore is worth
1 $3.50 gross per ton, leaving a profit
of $3.50 per ton over and above the
cost of production Mining 400 tons
per day. Shattuck would earn Tor its
stockholders s.. 400 per day. or ST.
a71 900 per year equivalent to a divi-
dend of IS per share per year and
surplus OF 1921 900.