Weekly journal-miner., 1916-05-31


 for a number of years past the most important branch of the local mining industry, has of late assumed unpre- ccdented proportions both as to out put of ore and number of operating properties. This satisfactory condl- ton is reflection of the copper mar ket. where sales of the metal are be- ing booked at the hign rates thar have prevailed for some time past un- der conditions which indicate an ad- vance in price.
 Trend of Opinion.
 The concensus of opinion among copper factors is that the copper market is now in such an impregnablc position that sentimental influence cannot affect it. Suppdementing the large purchases of copper by the war ring nations of Europe comes the an nouncement of the United States army and navy departments that stocks of munitions are to be materi- ally increased; which means that the various government arsenals IS well as private contractors will shortly be ill the market for copper, thereby giv- ing additional impetus to the already enormous demand.
 Spurs Mining Effort.
 The conditions cited bespeak addi- tional prosperity for Yavapai's cop per mining industry and broader market at higher prices for her cop per issues. The long sustained pres ent price level of copper has resulted in the resumption of work at proper ties long idle and a quickening of the copper mining industry in all sections of the county. This in turn has been followed by an awakened interest in and demand for Yavapai county cop per stocks in general. In fact, there never before has been so wide and general a demand for the latter.
 San Francisco In Line.
 San Francisco, for instance, where heretofore mining stock transactions were confined to the gold and silver issues of California and Nevada, re gently for the first time gave official recognition to copper issue by call ing the shares of the Boston & Je- rome Copper Company on the floor of its stock exchange. The stock is in demand at around 50 cents per share. is an active trader and IS grow ing in popularity. The company's property adjoins holdings of the fam ous United Verde Company at Je- rome, is to be aggressively developed and has promising showing of orc. Mining operations are in abeyance pending the installation of a Eew and more powerful plant of machinery.
 Michigan Represented.
 Representative copper and banking interests Of the Lake Superior copper field are directing the. affairs of the Jerome Victor Extension Copper Company, owner of the Haynes group of claims adjoining holdings of the United Verde Company on the south. This mine equipment is being over hauled preparatory to unwatering the shaft-l, 200 feet deep-and resuming lateral work in the ore bodies. No work had until recently been done on the property since the early part oi 1914, when the former owner-Hay- mes Copper Company-ccased opera tions owing to lack of funds.
 New York Interested.
 Jerome Victor Extension shares are to be listed on the Boston and New York curbs with a view to al fording the subscribers to the initial allotment of 100000 shares an active market for their stock. This allot- ment was oversubscribed within a few hours at its par value of Sl per sharl by New York. Boston and Calumet Mich, copper interests. In face oi the demands at the points mentioned, the management reserved q block oi 10000 shares for distribution in Pres colt. Jerome and elsewhere ir Yava- pal county. The demand tor the stock is increasing in this section and is based upon the location of the property and the mining knowledge ot the men back of the company.
 A Spectacular Stunt.
 The most spectacular as well as the most important happening attach ing of late to the copper mining in dustry Of Yavapai county is the rec ord established by the United Verde Extension Mining Company. better known hcreabouts as the Little Daisy whose holdings adjoin the United Verde mine, Senator Clark's copper bonanza in the Jerome field. The shares of the United Verde Extension Company have advanced in price from 25 cents to as high as S2S per share in less than two years, and arc now selling at around S27 per share Within that period the property has been developed from q prospect into one of the worlds most valuable cop per mines. The high grade ore ir this remarkably rich mine carries ar average of 30 per cent copper and tho second class ore an average ol l5 peI t-erlf -pnper fr tia fou