Bisbee daily review., 1921-05-22


 to the stock refused to take it. hay. ing concluded that they would be rob bed of whatever they might venture. There were those who were busy cir culating stories to the effect that the previously subscribed, fully $4OOOO was paid back by Captain HOatson. and that was on q very low price for each share of the original promotion stock which afterwards was increased greatly in numbers. The action of those who criticised the venture and surrendered their holdings was q great blow to Captain Hoatson, being a direct charge upon his integrity as a man and skill as a miner. but he has lived to see his predictions verified and to know how many of his former townsmen missed golden oppOrtu- nity such as they may never again be privileged to duplicate
 l The Money Was Forthcoming
 The paying back of $40,000 was an act that made the treasury low and caused some misgivings concerning the future. Mir. Briggs was still d friend in need. Captain Hoatson sought T. F. Cole, then managing the mines for the United States Steel Cor | poration and who had a good idea Of mineral values. Mir. Cole secured the | attention of George Tener, of Pitts burg, one of the Oliver steel crowd and asked him to go to Bisbee with l Captain Hoatson to look the property over. Both Cole and Tener aided if nancially. Previously Captain Hoat- son had picked out the spot where the shaft should go down, but when hew ent there on this visit he dis covered it was several hundred feet away from that particular spot and ! would necessitate several hundred feet more sinking to reach the ore for nation as he had figured it It was another blow as it meant a consider able addition of money to put it down to the required level, and money was | scarce. To Tener the shaft was ideal ly located as sunk because it was in | a drift of $50 feet found the ore, the latter being of fine quality. This was in February, 1901. Costello had ex- tended the option a year to aid the miners, due to the presentations of Campbell. Costello was a westerner, and of broad gauge.
 | Plenty of Money Now
 i After the finding of the ore Tener, Cole, Hoatson, Briggs and D'Autre- mont went to Bisbee to take look at it. Cole wired Henry w. Oliver about the find, the latter replying l that his people would take all the | stock if they could get it. They stood | ready. to put in a million or more. Lack of funds was no longer trou- bling. Campbell remained at home to organize the Calumet x Arizona l Mining company. The new organiza- tion was created with 25O.OOO shares, 5O,000 of which were held in the treasury to acquire other lands. Tener. in expressing his ideas of the ore discovery. said to Cole: If you had your old iron ore mine right at the mouth of the furnace you wouldn't have as good a thing as this" Captain Hoatson. to those who had charged. that he and associates were fixing things to trim the inno- cent, felt very badly but to all criti- | cism offered replied that the mine would speak for itself. With a rec ord Of $45.95l.71025 paid to share holders in dividends it has spoken | in no uncertain manner.
 One That Didn't Start in Boston To those who had watched the 1 trend of the copper mining industry | in this country it was a wonderful thing that a copper mining s,enter- | prise could be financed outside of | Boston, as the Hub" was looked up | on as the only place in which such thing could be done. but this new concern was an innovation from | many points of view.
 Captain Hoatson Figured Correctly
 From the outset Captain James Hoatson was certain a great mine would result from the efforts of the 
 ] company. and from the beginning his diagnosis of the mineral formations were absolutely correct. He had an intuition it would prove good, and then his wide experience suggested success. It was because of his cer- tainty that he felt so keenly the crit icisms before referred to-
 Where Good One Was Missed
 I. L. Merrill. who had worked with Captain Hoatson in Butte. was the first general manager. and it was left to him to secure possession of the Lowell claim. The price was s50O,- 900 and Merrill thought it could be had for one-half that. in which he erred, and the Copper Queen captur. ed it and thus secured one of the finest mines in the camp. It was easily worth ten times that Senator Clark of the Tinted Verde had ap