Weekly journal-miner., 1917-03-28
JEROME VERDE IS READY ID
 START DRIFT
1050 FOOT LEVEL HAS BEEN REACHED, EQUAL TO 14OO IN LITTLE DAISY AND EAST AND WEST DRIFTS TO START PROMPTLY.
(From Sundays daiiy.)

the l,050-foot level, and further sink ing will be discontinued, as this depth is equivalent to the 400 level of the United Verde Extension A stump is now being made, and after a station has been cut, drifting will start east and west. It is estimated that the east drift will be run 600 feet in order to tap the ore body which it is be- lieved, will be the extension of that | found in the Little Daisy. As upwards of ten feet daily can be made it is | figured that about 60 days must elapse | before determination can be made of the ground east of the Columbia shaft Through typographical error in Fri days Journal-Miner, the quantity of stock under option by the U. V. Ex- tention was made to read 100000 in stead of 100000 shares.
 | The smaller Jerome companies arc in friendly but fcverish rivalry to be the first to make the first great strike of orc. This partly explains the haste with which some traces of orc have been reported unofficially by wire from Jerome as strikes. C. NJ. Gar rison, vice-president of the Calumet & Jerome, spoke of this on his return to New York from visit to the proper tics of his company. "Thc Jerome Verde" he said, thought they had struck the great body but upon closer examination it was found to be mere ly heavy trace such as has already been found in the shaft of the Calu met & Jerome The probabilities of the Calumet & Jerome striking the United Verde and United Verde Ex- | tension ore bodies arc conceded by engineers affiliated with the larger companies as we'll as the staff of the Calumet & Jerome.
 l "Thc thrcc-compartmcnt shaft IS being sunk under the most careful | guidance to assure the best results. !, John L. Raubcr, who personally su- pcrintcnded the sinking of the United Verde Extension shafts up to his en- trance into the Calumet & Jerome believes that during the month of May he will have attained sufficient depth to warrant crosscutting toward the Verde Extension property where the vein is expected to be located. The ! Calumet & Jerome shaft has opened a body of water which is flowing from the direction of the United Verde property, and the engineers have cx- | pressed the opinion that the flow is indicative of the presence of the fault or vein a' fr~thcr depth. Enormous 0vnlT- have been installed to handle the water and the work is still being pushed 24 hours per day. The ground staff of the United Verde Extension also states that the orc body of their property seem to run toward the Calumet 6; Jerome line"
 Jones & Baker, in their weekly news letter arc publishing a special detailed report on Consolidated Ari- zona:
 ''Thc development of a big copper property requires tine," says the re- port, and this has been the case with Consolidated Arizona: the 1916 rec ord, however, lifts it out of the class of prospects and with further in crease in equipment and rapidly mounting ore reserves, the company is expected to take its place with the leading copper producers of the coun- try. Earnings this year should be greater than last. and an carly divi- dcnd is a possibility, all combining to make present market prices spcculat ivcly attractive"
 Arkansas X Arizona, one of the Je- rome issues. is attracting attention because of the report that the cross cut to the northeast may cut orc at any shot. During the last period of excitement in the Jerome issues Ar kansas x Arizona sold as high as Szs. but since that time it has reacted to below SO cents.
 The Financial Review, the weekly publication of the brokerage firm of Coleman & Rcitzc. contains an article l in the current issue. entitled: "Is 50- cent Copper Likcly?"
 The conservatives are not antici | pating a 50-ccnt quotation for copper. the article says, but in case copper | famine develops the price might go that high.
 The metal output from mines in Arizona in lol6 had a record total l value of nearly $203,OO0O00, as com- pared with S90.S06,346 for 1915, ac- Cordiue to thc estimate of Victor C