The copper era and Morenci leader., 1919-03-28
SHANNON COPPER
 ID LIMBO OF PAST
MINING COMPANY PASSES OUT OF EXISTENCE WITH A CLEAN RECORD.

 IS announces the passing of the Shannon Copper company of Arizona into the limbo of the departed min ing companies that have left their mark and memory, too often not comfortably, but in this instance with credit and with a profitable career honorably closed behind it.
 The story of it's passing is outlined in the following announcement of the preparations for the disposal of the plant and remaining assets of the concern: --.-.-
 Both the mine and the shelter of the Shannon Copper company have been closed down. Since the middle of last year it has been increasingly difficult for the company to make both ends meet and some members of the board advocated immediate suspension of operations. The Met calf property petered out The newly purchased mine, the Yeager, has not proved up to expectations and Shan non had to face the inevitable.
 The Yaeger mine cost $75 5000, which with the $125,000 spent on it's development represents final in- vestment of $2OO, ,0OO. At one time it looked as though at least this sum
  lieved now that anything like $200,- GOO in ore values can be produced.
 ''At the signing of the armistice Shannon was caught with 3,000,000 pounds of copper on hand. The com pany succeeded in disposfng of 1,00O,- GOO pounds of this metal during January at 19 IA cents per pound. Since that time, however the price has steadily declined until at 15 cents per pound Shannon stands shrink age in metal inventory (carried at the government price of 26 cents per poundD of $22O,OO0. This with the loss of nearly cents taken on the 100000 pounds sold amounts to ap- proXimately S3OO,OO0 and wipes out the company's working capital. | Need Special Treatment.
 shannon possesses a very large acreage in the Clifton-Morenci-Met calf district of Arizona which con tains oxidized and semi-oxidized ores that some day may be amenable to profitable treatment. But as yet no system or treatment either of 'he ore or their tailings that is commercially eXpedient has been devised.
 Informal discussions have been ! Eeld with view to the sale of the Shannon outfit. property, equipment and all, to the Arizona Copper com pany. This company is contiguous producer owned entirely by English interests. Its main office is in Edin- burgh. Scotland. No price has yet been mentioned, but the Arizona Cop per people have had their engineers inspecting Shannon's mines and smelter and there is a possibility that a sale may be effected ''
 Biref as is this survey of the end ing of the career of this property, it's beginning carried with it a romantic and important developm ent. A former resident of Butte began his climb to success from the start that was gain ed through the earlier promotion of the Shannon mine. This individual was William B. Thompson, now one of New York city's multi-millionaires
 Moves to Helena.
 In 1894 MT. Thompson moved from I,utte to Helena and opened a small real estate and coal and lumber busi ness in the lobby of the Helena post office. Here he accomplished a mod est business, handling lumber ant fuel and making some real estate an6 mining ventures.
 Some time during the fall of 1S9; George Schroeder of Denver, Col, ar rived in Helena to see Edwin Hotter a sen of A. M. Hotter, who had beer classmate of Schroeder's at Colum bia college. Possibly William B
 Thompson had known Schroeder be fore this time but during the visi F Schroeder revealed the purpose of hi
 visit to be the securing of aGditiona capital to develop a property that h' had examined shortly prior to tha time that had been turned dow1 . against his earnest recommends tion
 to the people for whom he had frs examined it.
 This property was the Shannol mine, and after a series of interview < Schroeder succeeded in interestin; , Edwin Hotter, Thompson and som others who with himself raised tn $ sun of $40,OOO with which to take 1T !. the Shannon property.
 l Enters Shannon Syndicate. l Mr. Thompson sold out his littl T lumber and fuel business, and wit v some assistance from the Thompso, - estate and his brothers in Butte be f came member of the Shannon syr l. dicate.
 - Among the younger set of Helena g social life at this time was Mis- Gertrude Hickman, daughter c
 former State Treasurer D. O. Hicl T man, who was belle of the city g It was at a dance at the old Electri l. Light hall that William B Thompso l. met Miss Hickman, and thereafter e fast and impulsive courtship resulte n in a surprise marriage to many Wh . had not expected it so quickly. A Il any rate, with his mind made up e strike out into Arizona fields but l. few days elapsed before MT and MT. V William B. Thompson were on thei e way to Clifton. Mrs. William B Il ;Thompson is now the mistress of tn a great Thompson estate and home o u tue Hudson, where has been gathere l. tOeether a veritable treasure house C beautiful works of art and beaut!