Bisbee daily review., 1921-05-22

before the ore was found.
 The original issue of 200. 900 shares proved ample for the needs of the company. Of the original nine. those concerned in the earlier promotion. Graham bought farm near Lansing: one engaged in the brokerage busi- ness and failed in that enterprise: :: two are dead The change into min ing company from a development organization was made on the basis of increase of five to one.
 First Dividend in 1903
 The initial dividend was paid in 1903 q 250-ton shelter having been completed, and this was later in creased to 500 tons daily Now there is an entirely new shelter of much larger capacity and of more flexible kind. The ores in the Irish Mag claim from the 75O-foot level to the 1.057-foot averaged between 12 and 15 per cent copper, and from the Irish Mag claim alone more than 5000 900 have been paid in dividends.
 Many of the miners in Calumet and Bisbee bought stock. putting their earnings into it. so that between TOO and 800 of them finally held shares. and still hold them, as they have all ways had great faith in the manage ment and believed they would get all that came out of the ground. There
 
 the last dividend was paid in March. 1921. these being scattered all over the world
 Other Propertie Bought In
 Later there were other properties brought into Calumet & Arizona as their value was made by develop ments. so that today the company has several thousand acres in it's. min eral land holdings The old Irish Mag claim from which such a great record was made, has been practical ly worked out although there is some leasing done and some ore continues to be mined It gave fine account of itself and justified the purchase price Of half a million which it re- turned more than thirty times. Of the properties lately acquired all of them have merit. and of the list June tion has thus far proved the most valuable. This property was lined up principally by Thomas Collins and it's taking over was one of the best bargains the parent company has made. Mir. Collius is one of the di- rectors of Calumet & Arizona.
 Captain w. B. Mershon, of Saginaw and director in Calumet & Arizona. was attracted to the Bisbee camp in 1903 he being of the opinion that all the good things had not as yet been found He bought the Worlds Fair group of claims from Lem Shattuck, and called it the Saginaw Develop. ment company, later combining this with the American group under the title of "American-Saginaw making about 1,70O acres in all. Mershon. Collins and Powell were officers and managers and the property was final ly bought by Calumet & Arizona pay lt This great lot Of lands has not as yet been explored excepting at one loca- tion where a shaft was sunk, con- meeting with the Denn-Arizona shaft at the 900-foot level. A diamond drill hole was put down 2,60O feet and was bottomed in lime at the finish Un- doubtedly the copper deposits of the Risbee series will be found extending into this territory. as they are mak- ing in that direction, and each year finds mining brought closer to this area. In days to come the American Saginaw purchase will be found as valuable as others and doing it's full share to hold up the production of copper of this company.