Bisbee daily review., 1913-06-10
RAY COPPER Is
 B|G PROPERTY
Under Splendid Management It IS Now Producing at Rate of Fifty Million Pounds of Copper Annual iy, Says Expert.

Thompson, Towle G Co. recently issued a report on Ray Consolidated made ay tleir representative E. N Skinner after q personal inspection of the property. from .9hiCh We taEs the following:
 Ray Consolidated the first of the CountTy's large underground pOrrhy ries to be equipped and placed on a producing basis exceeding 5000 tons daily output, after several year of un- tiring effort is now coming into its own Few realize what an enormous undertaking it sto prepare one or these minss for a production Ot from 5000 to 10000 tons Of ore per day. One i sapt to draw conclusions tCo hastily and compare the time neces- sary 10 bring about these results with certain of the steam shovel proper ue-a comparison which greatly fay' OTIS the Opencut mine, but one which should in no way detract from the more slowly developed underground
 porphyry when ultimate production and earnings are considered. The bulk Of this great work has been accom-
 plished and from now on steady jmnroysreDt in Rays operations should be noted until al the close of this year the mine should be in 7csitiou to suDuly the entire requre-
 nrnts fthe mill
 The average grade o fore treated ny the mill at present is about Ia ner cent and on this an extraction of around 66 1-2 per cent is obtained IT will be recalled that Ray in 1912 made a higher extraction than this
 the average for the year 6S,21S per car+ As explained above, this re
 duction is due entirly to th carbon
 otes in the ores. condition which sborId improve raridly. On the Ray Central ore an extraction of Sl per cent is made.
 Ii is believed that an average
 grade ore If say or 21 per ceh1 which allows for slight diminntloh
 ip mining from the average or the re sarvas that a T2 to 73 ner cent eN- traction will be possible. On the treat
 ,nent of 2. .O00 tons of ore per day, this ,-o,,ld he equivalent 70 an annual re Gned rroductiou of T7.OO0.000 lbs. as cunning s5O actual working days and o, m ooo tons to ss .O00. 900 lbs ! Ray at the present time IS turnlhs o,+ at the rate of 54.5000.Oo6 lbs or i refined conper per annUm- The COS. of nroducing this cooper per Dohn' | ;s now A shade urder9 cents. Al l9 Y" cents for the metal. This indicates tLat inc cornranv is now earning a inc rate Of S2sO0.0OO per annum O. i So 20 per share.
 The ontput of the mine possibly bv fall. Or before the close Of the vear at the latest 5000 tons per day. finder these conditions corresponds | ing reduction in cost should be made and au SIC figure attained. Ihis world represent earnings of So.4r9-09o
 or 1s1-2c conner. or s7.40 ner snare '. efha intention of the manage
 mon, to bring Rays output up tc
 1o o00 tons ryf ore per day and unoer tbese conditions it is confidently eh- rac+ed that costs will De reduced 10 s1-Ac ner pound. On the above meta conditions employed this would lnoi- cate earnings of $6.35e.O00 per annum or nearly s4. .40 per share.
 Tn looking ever the property one is greatly impressed with the organ izatior and thoroughness of opera
 ion and great credit is reflected on
 inc management In aceomnlisainP suCh wonderful results in so short
 period of time.