Weekly journal-miner., 1917-03-28
MAKES OFFER TO BUY
 ROSEMONT COPPER CLAIMS
(From Tuesdays Daily.)

The Calumet & Jerome Copper Company has made a tentative offer to purchase the Rosemont claims of the Roscmont Copper Company, which is owned jointly by Lewisohn Brothers and the General Develop ment Company, controlled by Adolph Lewisohn. Lewisohn Brothers own $ per cent and the Adolph Lewisohn Company owns 45 per cent of the Rosemont Copper Company. The properties arc in the Roscmont dis trict of Pima county and have been steady producers for some time, ship ments being made to outside smclters, the shelter on the property being now too small to take care of the tonnage produced. The offer is to purchase the claims at valuation of $500, 900, payment to be made in Calumet & Jerome shares on the basis of g share The Lewisohus already have an interest though not a controlling one, in the Calumet & Jerome, and the proposal is considered fore runner of a consolidation of all the Arizona interests of the Lewisohns under ono corporation. This would take in several we'll known producers. The Lewisohn Brothers have sent an engineer to the Calumet & Jerome properties and the Calumet & Jerome management will send an engineer to examine the Roscmont.
 
 One of the factors which made the professional element bit uneasy was the announcement that certain Amer ican copper producers had arranged to sell to the government 45,5l0.000 pounds of copper at l6.67 cents a pound, which is less than half the price at which copper metal is now quoted. It was argued that manufac- turcrs of other war supplies follow the example of the copper producers, and that profits on government con tracts might in this way be rather limited
 As far as the copper industry is concerned the sale to the government of 45,5l0,000 pounds will make very little difference in view of the fact that this amount is less than ? per cent of the country's estimated re- nnery output TOT I9l/.
 Yavapai county, in Arizona, the county in which is located the famous Verde mining district, has a total as- scssed value this year of $5S,277I8l. This is an increase of more than Sl2,- 100000 over the previous year. of which amount more than Sll 100000 was added by mines and equipment. New York Telegraph.
 Owing to the high cost of labor and materials the smelter of the United Verde Extension will probably cost 60 to 75 per cent more than 1t would have cost three years ago. To offset this. however. the management IS cx- pecting to make a great saving in freight charges. The company'S bill for railroad freight in l9l6 was S9OO,- 900.
 A drift from the l,640-foot level of the Arkansas &, Arizona is in white iron with traces of copper. The drift from the cast crosScut is also being extended
  Jcromc-Portland's shaft IS nearing the 5OO-foot level Gold Road Bonanza has driftcd more than l50 feet on the vein. and assays have been obtained ranging all the way from S+ to $27.
  Jerome Victor Extension Is getting in additional machinery.
  Green Monster has been improving | in the market since the report was published that Dr. Walter Harvey Weed had been appointed to the di- rectoratc.
 Big Ledge turned reactionary last week and yesterday weakened to $414. The effect of a possible adverse de- cision against the company, in the suit brought against it by Ncstor \. Young and other minority stockhold- CTS, is said to be the depressing factor.