Bisbee daily review., 1915-11-21

over nulnDeI CT Cldluln anu many determined upon and made a purchase from prospeotcc named Batchelder. This today forms the backbone of the Mascot property. other claims being later acquired. This purchase, the first acquisition of copper property by Mir. McCauley was in November, 1905.
 One M55's Efforts.
 Development of d gold or silver pro position may at tines be done cheaply \ Pay dirt may run from the grass roots down" It ia some times termed poor mans game" The develop ment of copper prospect into a cop per mine, is a rich mans game" long and patient development and a large outlay are essential Time, money and energy, rightly directed are ab- solutely necessary to make a copper mine. This was the project that T. N. McCauley faced and entered upon. Although the Mascot Copper Company was formed in July, 1907, T. N. Me Cauley supported the Mascot from his own pocket for the first four years following its purchase Almost di- rcctly after the incorporation of the . mining company came the panic of . 1907. followed by business depression | and accompanied by the drop in cop . per prices that made so many copper . propositions that had come into or . were coming into existence. unprohta. 1. bie. Thus 1t came about that Mir. Me Cauley had to finance the development . until better business conditions camc !. in 1909
 The Mascot Copper Company was capitalized ct Sl5,00O,OOO shares being of a par value of $lo. Up to the pres c1t time however, only S1O,OO0,00O Of this stock has been issued, third Of the stock remaining at present in tho treasury.
 Eevcr Received Salary
 President McCauley since the for nation of the Mascot Company. has never drawn one cent Of salary. He has shown his confidence in the prop erty first by investing his own money in it and then ty devoting his time ! his energy and his business ability to ] its interest witt cut pay. He is re-. ported to have stated that he will oc- 1 ccpt no salary for his services until
 he has placed ;h2 company on divi-
 dond paying basis and the sharehold. CTS have begun Co realize profits upon their investments
 ] One feature Cf the policy of the
 company insisted upon is the manage ment Of President McCauley is that the balance in the treasury has never fbeen permitted tJ fall below S1OO OOO. This enabled tho company always to pay cash for it. purchases, it gave shareholders confidence in and re-.
 spect for the management, if enabled
 better contracts for machinery and equipment to be made Generally it
 was good business policy.
 ] Differing from many mining com
 panies in the development stage, the
 Mascot has always carried cash in
 bank to not less than S10O,0O0, has : never had to as'- for banking fayors or credit, has never given any notes or other paper in payment Of obliga- tions and wherever possible has taken
 advantage Of anv and every discount
 obtainable upon contracts or purchas-
 es for immediate cash
 2 Ten Y-ars Work
 r It has taken ten years to make a mine of the Ma7cot property. Now the mine is made, is the verdict of all 3 those who visit the property go l through it's workings and learn of the a ore in sight or blocked out It is just 8 undertaking systematic and regular - shipments The mine is in its infancy X so is the camp and SO is the district Q Just so at one time was Bisbee and q e has taken thirty years to develop tho . mines of the Warren District to theil n present great production
 t For the past ton years t has beer r. known all through Cochise County tha "a there was a little coterie of men work q ing out a copper project up at Dol }. Cabezas They were working quietll
 and unosteptatio,s sly but they worket d steadily and con stently. There wa t no blare of trur' pets, no blatant an pc IhhAANNAltuln hA nlNah lN9NlAas J ha ,t quiet, systematic work.
 IT It was learned that ore was beini l- hauled from Dos Cabezas to Willco IS where platform was erected adia d cent to the railroad from which th e ore was freightod to the Fl Pas n smelters for trec ment Next it wa it learned that auto trucks had been 1T ,t stalled and were making regular trips .e Then it was sail that the mine ha .e been developed sufficiently to warran n- the building of a railway and the aI m nouncoment was quickly followed b .g the engagement e experts to surve le ithe proposed Inc and attend to th )s preliminary and engineering worl ig Soon advertisements for laborers al ld pcared construction work was starte il- and it was only 2 few months latC mt that the copper spike was driven an re ithe railroad oprhed for traffic. of connection with such opening can he the confident auolunccment that ti lg mine was made ady to make regul' gl shipments and ha passed from devC as opment into Che actual and acti' be producing stage
 an It has been lted conservative