Weekly journal-miner., 1917-01-17
FAITH BACKED BY MONEY IS
 JUSTIFIED
CONSOLIDATED ARIZONA ENTITLED TO PLACE WITH BIG PRODUCERS OF THE STATE.

of the Consolidated Arizona Smelling
 Company, the smelter Of which is To-
 cated at Humboldt. is given in
 Hughes & Dier's Weekly Market
 Forecast, Philadelphia, as follows: ! This company was incorporated
 under Maine laws in December of | 1908, taking over the properties of
 the Consolidated Arizona Smelling Co.,, organized two years previously,
 and the Arizona Smelling Co.,, organ
 ized in 1905.
 Its experience since incorporation has been stormy, and F. $. Hooley
 has more than once been forced to take the reins and carry the company
 along single handed until new head
 way could be mustered. The first | Consolidated Arizona Smelling Go.
 went quickly on the rocks, and the
 current company looked many times
 as though it would follow suit.
 The company has an authorized
 capital of l,850,OO0 shares, par S, which written in another way means So, o,250.000 of which l,6OO shares are issued, or SSOOO,OOO. There also was issued S966.0O0 income bonds, bearing 5 per cent interest, when it was earn ed, and maturing in l939, and S250,OO0 first mortgage bonds. The company dragged out these bond payments, even to the interest, over a number of years, and only recently was en- abled to start interest payments on them.
 A Story of Infinite Faith.
 To really tell the story of Consoli- dated Arizona one must first of all say that were 1t not for the infinite faith of F. s. Hooley and associates in the property there would be no story to tell of Consolidated Arizona today. Blue streaks, becoming con stantly bluer, faced the management, yet they hung on, and the present ratio of success is this reward for their perseverance and faith in the properties.
 The management held tightly to its l. 400 acres of territory located in Humboldt, Arizona Locally the properties are known as the DeSoto and Blue Bell mines Though more or less developed over period of more than ten years the real opening up of these two properties did not begin to help the Consolidated Ari- zona until two years ago. They are today considered two of the most rom'sing properties in the entire State of Arizona.
 These two mines are thought today to have about 100000 tons of ore rnG l. rlN v,n . reported that the properties contain ed about 3O0.0O0 tons of ore, and later in the year the figure was given out at S00,000 tons. To this there has since been added enough to bring the re- serves to 100000 tons Meanwhile the company has been extracting ore, showing splendid profit, which profits for 1ol6 are estimated at not less than Sl,000,0O0.
 The story of Consolidated Arizona is amplified in the following: For the first six months of last year the com pany outputted only 100000 pounds | of copper. By the time September | had rolled around the producing was up to 100000 pounds for the single | month. At the years end it was esti- | mated as on a basis of 2.0000O0 | pounds a month. For 1917 the Con- | solidated Arizona is expected to pro duce at least 25,000,OO0 pounds of 1 copper
 This plainly is a remarkable ex- hibit for a property that only few i years back was considered hopeless. | There are therefore other coppers | with remarkable records besides Unit ed Verde Extension and Magma Cop per. Consolidated Arizona should be | added to the list
 1917 Should Make the Property.
 From whatever angle one may look at the situation the year 1917 should be d big one for Consolidated Ari- zona. In the year the company should output enough copper to more than double the total of its bonded debt in its record of earnings. It should raise enough besides the money for its bonds to pay for a new and com plete milling plant, which was de- stroyed by fire only a few short of the earnings of 1917 to enlarge its plant. and after all this begin dividends on its stock.
 If copper prices hold anywhere iear the current level of quotations md there is every indication that they will - then Consolidated Arizona ! hould roll up earnings that should ' trike the S2,500,000 level, which ( would mean at least S1 share avail l lble for stockholders in the way of dividends.
 Consolidated Arizona has a smeIt- ng plant that can handle about 2,000,- I % pounds of copper monthly. The ( liant is now working on Consolidated S Arizona ores and the ores Of the Unit $ d Verde Extension, and when the 1 Extension builds its own smeiter and | hereby discontinues the shipments to a he Consolidated Arizona it is figured i hat the latter will by that time have | rought its own outpu; 10 the point fl 'here the entire plant will be neces- u ary for the ores from the DcSoto il nd Blue Bell mines. a This, in brief, is the story of Con t Arizona and in a small s leasure the prospect for the future is a utlined. From a hopeless proposi- O on, and with its stock selling around n 5c share, the company has placed h