Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1913-01-26
OPTION IS GIVEN UPON OLD PLACER GROUND

Metal prices is in the east appears tC
have steadied at a price approximate
ly a cent a pound lower than pre-
vailed a short time since. but still al
figure that guarantees profits to the
producer. Electrolytic is still between
10 and 1914 cents per pound in quo.
tations and this price is generally
considered as satisfactory.
That the surplus stock on hand win
be shown TO have increased during
the month OF January is indicated By
the reports that come daily from the
east relative to receipts and 20 ex.
perts. Unless the domestic demand
has increased materially in the month
q further increase in surplus is indi-
Gated in the figures received up to
date. Undoubtedly the war situation
had its eifect on the copper market
abroad and still further and wider
has been the effect of a money strin-
gency in Europe. That stringency
was mentioned in connection with the
loan by the six powers in press re-
ports.
Conditions in Europe could not but
be reflected in the markets In this
country. Export figures for the month
mp 10 this time clearly reflect those
conditions and only the home demand
showing heavy increase could preven,
an increase in the copper surplus.
But the conditions are not considered
AZ all alarming. In the face OF
year OF the greatest production of cop
i'ef in the history of the nation the
reserve stock of copper remained
close to normal II may be that there
will be a still further decline. though
this is not anticipated. yet the air
of confidence among copper producers
has not been disturbed. A continuance
of IL 10 rs cent copper would have
meant quicker awakening TO the op-
pOrtunities for investment in unde |
yeloped copper properties but even al |
lower prices the incentive remains |
though in a diminished extent.
Placer Claims optioned
The most recent deal TO be re |
ported locally is an option upon placer |
claims below Warren owned by eight |
local people. II Is reported that the |
owners Of these claims win receive |
10000 If the deal is consummated. |
Report has il that the option is for
nine months and that the first pay
ment is to be made in July.
The placer ground below Warren 1
has been proven 10 carry good values 1
in gold ard the sole problem is the
washing of the dirt cheapiy enough.
The group reported sold is only one
Of several owned by LEGAL parties.
Much of that country has been taken
up under placer claims and the results
OF the present option are therefore
awaited with more than ordinary in
teTest. II il can be shown that the
gold can be extracted from this dirt
profitably Bisbee can expect a num-
Der OF placer camps close at hand.
Good suIphide Strike.
From the Clumet and Arizona Offices
i is learned that there wss encoun-
tered ia the past week body of sui
phides on the 1900 level OF the HoaI-
son. Thus far they have cut this body
Tor twenty feet. are still in ore and
exploration and development OF il has
Only just started In other develop
nent and exploration work the COM
Dany IS proceeding upon its well liked
ines Of policy and had no further in
to give out.
AT the Junction the work OF con-
,reting is being continued and more
'apid work is being done than at tho
1utset as a result Of the lessons that
nave been learned by experience that
iave taught the best methods.
The Calumet and Arizona company
continues at practically the same pro
iuetion figures this month and Is
hipping close up 20 the capacity OF
he smelter in It's present stage.
Copper Queen Is Busy.
With the new development work ,
hat is in progress, the installation OF
.ew machinery. construction work ,
md preparations for construction ,
and keeping the output OF
he mines up close 20 record figures
he Copper Queen is buster than in
everal years.
Further sinking at two shafts. the
liver Bear and the Sacramento tint ,
'er shaft has progressed steadily .
Turing the week as has the drilling
n the Copper King property and the
development OF the Sacramento por-
hyry country.
IN the porphyry development the i'm
ortance can hardly be over esti !
lated for the proof OF values THnDia. 2
through that character OF rock are .
ertain 70 be Of much value TO the
istriet. Thus far the developments Z
ave been better than were bored for.
was expected TO make this char