Bisbee daily review., 1916-09-03
MANY MINE FAILURES
 NJ FAIR CRITERION
Continued From Page D

from the standpoint of the other company just cited.
 We have in mind another com pany, not incorporated. composed of very wealthy men experienced in the mining business, who are continually on the still hunt for good mining properties. They will not consider a prospect. but only a mine with a developed tonnage, and while unlike the other company we have just mentioned. they have no operating organization. they have the means for equipping a property that is sui fering form lack of or poor equip ment and inadequate working capi- tai and making from a mediocre property a big success. as they have recently done in one instance in British Columbia. The men in this aggregation say: "Why should We go through the worry and mental an guish of developing a prospect when we do not have to-" So that by this aggregation also. prospects. no matter how allurinc, will not be con sidered.
 The Gold Road. a revamped old producer; the Miami; made from prospect into a big mine: and the Hedlye. a re-equipped and enlarged producing mine turned into a big div idend payer. are specific examples of the results of the respective policies enumerated
 More prominent than any of these three companies is the JacklinG-Hay- den-Stone group, which mp to now has made a speciality tof handling only propositions of enormous size that are of such low grade that only operations of great magnitude can be made to pay. The Utah Copper, Ray. Chino and Alaska Gold are too familiar to need further mention.
 Of course, when a company lets it be known that it is in the market for mining propositions. it is sure to be deluged with all sorts and kinds. comparatively large number of which will probably in any event, not withstand a rigid office examina- tion. However. owing to the different policies of the companies, the number of rejections that they make, of the propositions, submitted. is not an in dex of the value of the propositions considered. It shows not that there are no good mining propositions to be had, but only that the particular kind Of proposition to fit their specified re- quirements was in the minority.
 New mines are being found con tinually and developed into big sue cesses. The most shining examples recently have been the Interstate Callahan, now the third largest zinc producer in the world; the United Eastern, the new banner property of the Oatman gold mining district in Arizona; the Mascot zinc mine, in Tennessee; the White Pine copper, in Michigan; the Magma, the Common wealth, and finally, the United Verde Extension, all in Arizona, the last perhaps the least well known of any, but one of the most striking copper discoveries of the period
 The Plymouth Consolidated. in California, an old mine for a long time dormant, has been made into a successful mine by Bewick, Moreing X O., which company has now taken over the Eureka mine. also in Cali fOrnia, and expects to bring it to the raninf of cra1ngrft,1 nxnInraf;An hA New Cornelia, at Aio, Ariz., is com paratively recent acquisition of an other mine, which promises big sue cess, as does also the Burro Noun tain, being developed by Phelps Dodge at Tyrone, N. NJ. The Mata- hambre copper mine in Cuba. the Yukon Colds new operations in Cali fornia and in Iditarod. Alaska, the TonOpah Mining Company's acqui- sition of placers in Colorado and many others come to mind of new mines found and developed of old ones. failures. rejuvenated and made profitable. The number of eXplora- ton companies mentioned is not by any means a full list but merely typi- cal
 Not only is the field of opportunity not barren. but there is a marked need of an exploration company for the handling of comparatively small properties. There is always a large number of such promising prospects held by men who need capital, but who cannot interest the larger com panies that disdain small scale opera tions. The propositions either need a moderate amount of capital to put them on a producing basis or req soHable fund 10 develop them to Q stage where they will be attractive to some of the larger exploration com panies Then to bring them before these larger companies would also be a proper function of this exploitation company of the new type suggested