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title: 'Bisbee daily review. (Bisbee, Ariz.) 1901-1971, January 17, 1906, Page PAGE TWO, Image 2',
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ut BlSfcKE DAILY REVIEW. BISBEE, ARIZONA, WEDNESDAY MORNING, JANUARY 17, 1906.
'WARREN AT $14.75 THE FEATURE
OF THE DAY.
"CAP. Fell Off a Point Junction and
Denn Moved Slowly East Butte In
Demand at $9.50 Buyers Disappear,
ed From Market on Offering of Few
(By Frank J. Graf.)
T Bisbee. Jan. 16.
We had a Tery erratic market today
ripening with strong bids and no ot
ters, leading one to believe that the
day would he a good one for local
Stocks. However, to the contrary,
the market was eo sensitive that as
Soon as a few selling orders were plac
ed on the marke there were no buyers,
&n,d the market bare.
The principal feature in today's mar
ket was Warren. The demand for
this stock was good, and none was of
fered under $14.75. A few shares
."were bought early in the morning at
$14.50, but late tonight we arc still In
the market for a good block at $14.75.
Calumet & Pittsburg fell off and
Cculd have been bought up at $38,
.'while yesterday you could not get It
tinder $39. A few sales were made
In Junction at $2S and in Denn at $25.
Keweenaw held firm at $17.50, while
East Butte was in demand at $9.50.
Slack Mountain had been offered at
$15, with no takers. North Butte
Sold at $91, and closed at $90.
Of late It looks as though our mar
ket was getting more sensitive than
ever, and at times an order to buy a
few hundred shares will start the mar
ket on the advance, and on the Other
hand a few hundred shares offered on.
the market has a tendency to depress
the same. This, however, does not
effect the value of stocks and we
'.frcnld advise buyers to take advantage
Cf all theso sudden declines and pick
up on the advance.
Biabee and Miscellaneous.
CfcA. ?i2i oo;
C. & P.
North Batte 00 001
3enn 24 00
Blk. Mtn 14 75
'American 17 60j
Wolverine 6 50
East Butte 9 50
Boston and NewWork Markets.
Amal. - $113 25
Am. Sgar 151 00
A. T. 8. r. S5 62
'A. S. fc R. Co 168 12
B. R. T. . 90 75
Colo. Fuel & Iron . C9 12
Erie Ry 50 25
L.&N. 154 C2
Mo.Pac 104 25
N. Y. Cent 153 75
Rock Island 23 S
Rock Island (Pfd.) C2 25
So. Pac CS 62
SL Paul Ry. IS 55
TC.C.l. I'l M
JtJ.P., ir.7 0Q
U.S. Steel 4 7
.US. Steel (Pfd.) 109 M
Allouez 43 75
Gretne Con -9 87
Shannon 5 ?7
O'd Dom 40 00
popper Range M 15
f- REVIVAL OF AN OLD MINE
" "W. W. Ward, who has been spending
Several days In the city returned last
evening to his home at Tucson. Mr.
Ward is one of those principally In
tel ested In the reopening of operations
On the Southern Bell mine which is
located about forty-five miles out from
Tucson. Tio property was worked
Ircm 1885 to 1897 by A. H. Fellows and
later tied up in litigation In connec
tion with the administration of his es
tate, he having died in the last year
named. On the 29th of December
the estate was closed and Mr. Ward
Interested Philadelphia capital In the
pioperty. There are seven patented
claims in the group the principal work
having been done on the Southern Bell
Claim. All that will be necessary to
resume operations Is the possible re
.tlmbering of tho main shaft and in-
Stalling some new machinery although ',
the old, stamp mill will be used, 'rwo
and a half miles of new pipe line will
have been completed by the middle
of April. J. Knox Oorbett and Ros
00 Dale are other Arizonans interest
ed in the property.
There .has been some little decline
la Shannon this week, due to scatter
ed selling by disgusted holders who
feel that they can make more money
1b other stocks.
We believe that the vicissitudes of
the company are things of tho past;
that while we do not anticipate any
big advance in the stock, or any big
-Earnings, we do think that at the pres
et low prico there is very little risk
In purchasing it, as the company is
-flolng moderately well, reducing JLj
bonded indebtedness annually and In
'tereaslEg Its plant and cash resources.
We understand that the new ob
Terter will be blown In the 2oth ot tWls
5J LA BUFA MINE.
t "nk George, of La Bufa mine, was
3 tb lty last evening from Hermceil-
Jo, -earoute to Douglas. He states
Jthkl Ia Bufa is getting richer every
Bay, and that Hs silver ore is makias
Bteadllr higher values as depth is at-
laise the workings.
CADENA BE COIRE HAKES
ALLEGED THAT OFFICERS LOOT-
ED THE COMPANY.
Suit Brought to Compel Return to
Treasury of Stock Taken Without
Payment Other Allegations of
Crookedness Are Made Treasury Is
Depleted of Stock.
Alleging that Cadena de Cobre Min
ing company stock to the amount of
$551,600 shares, values at $1 per
share, was fraudulently issued to the
first officers of the company, the Ca
dena de Cobre Mining company, of this
city, has brought fault against Ernest
R. Hughes, president of the company.
W. M. Hcnnessy, Albert E. Zeh, James
E. Klnsey, Mary Klnsey, Daniel Hen
nessy, John Fitzgerald and William
0"Nel to have the stock they now
In the petition, which was filed at
Tombstone yesterday, it ia alleged that
the defendants were the first officers
of the company when it was organized
In 1904. A million shares was issued
as treasury stock to be sold, the mon
ey derived to bo used in developing the
property in Sonora. It is claimed that
while officers of the company the de
fendants issued to themsehes 7S.500
shares each of this stock, for which
no money was paid Into the treasury.
This transaction, it is claimed, was re
cently discovered. ej'te discovery
was made when it was found that no
more treasury stock was available for
sale. The company is praying that
the stock of this treasury Issue which
Is now held by the defendants be can
celled. Attorney Nell has been re
tained by the plaintiff.
The Cadena de Cobre Mining Com
pany is an incorporated concern, hav
ing been organized and Incorporated
December 24, 1904. Its properties are
In the Sahuanpa district, state of So
nora. The company owns about 250
pertenencias. The stock is at present
selling for 75 cents a share. About
200 stockholders in the company live
In Bisbee ani are backing the suit
brought by the ex-officers. Ernest E.
Hughes, present president of the com
pany, was an officer in the company
when the alleged fraudulent transfer
was made. Successors to the other
defendants were elected at a meeting
shares each of this stock, for which
In addition to the alleged Irregulari
ties in the issuance of the stock other
Irregularities were charged and litiga
tion threatened regarding ihem prior
to the recent annual meeting of the
company. At this meeting transfer
was made to the company of titles to
several parcels of mineral lands In
cluded In the 250 acres now held. Ti
tle to these parcels bad presumably
been with the company all the time,
but investigation brought to light the
fact that Individuals of the official
family of the company held them. "Un
der threat of litigation the 'transfers
to the company were secured. Presi
dent Hughes assisted in bringing about
this termination, and a the annual
meeting of the company his work and
that of other officials of the company
during the last six months, during
which a new set of officials were in
charge was highly commondci The
sense c ihe meeting was that lie nev.
organization 0 ahead with develop
ment work at the property, and to se
cure money for this the directors were
authorized to sell remaining treasury
stock. The outcome was finding, as
above related, that the issue of treas
ury stock was exhausted.
PINAL MINING ACTIVITY
A New Concentrator for the Big Lead
Mining 5- Smelting Comoany.
W. B. Twitchell, general manager of
the Big Lead Mining and Smelting
rajitinanr near Kelvin was In the citv
yesterday arranging for machinery for '
a 100 ton concentrating plant wnicn
will be put up as soon as possible.
Seme publication was made a short
time ago of the operations of the Kel
vin Reduction company. This com
pany is operating on leased property
of the Big Lead Mining and Smelting
company. It will be remembered
that the Kelvin Reduction company
had just Installed and set in motion
the Macintosh leaching process which
was working more satisfactorily than
the management had ever darci hope
Speaking of it yesterday Mr. Twitch
ell said that, the longer the process is
tnea me more apparent it is mat a
new era has come In the reduction of
ores. At present though the process
If not In operation but It will be In
the course of a week. It wa3 found
necessary to remodel the foundation
for the rollers It had been made of
brick, but after a run of a few days it
was found that the brick was crumb
ling under the tremendous vibration.
It was then decided to remove the
brick and replace it with cement. That
has already been done but it will take
nearly a week longer for the cement
to harden sufficiently.
Mr. Twitchell is a brother of Col.
Twitchell of Las "Vegas, 7J. M., who
was the recipient of a letter from Col.
Roosevelt in September, 1900, in
which be expressed the friendliest
feeling for New Mexico and promieed
to render ail the assistance possible
in the effort of its citizens to break
into the ftisterhood of states because
he believed at that time that New
Mexico was amply entitled to state-
EL TIGRE CASE.
Judge Richardson was in the city
last evening enroute to Douglas from!
Hermosillo. He stated at the train
that preliminary steps had been taken !
for hearing of El Tigre litigation In
the etate court, and that the case
would probably come up within the
next thirty days. On the train with
him retarning to Douglas was Judge
Half, representing the Kansas City in-
terests in ths litigation.
CONING WITH LARGE
PARTY OF M1CHIGANDERS
MACKENZIE WILL BE IN
CAMP NEXT MONTH
Will Take Visitors Underground and
Let Them Have a Glimpse of Bls
bee's Wonderful Wealth Says Ari
zona Has Many Friends in State
-In a personal letter from Calumet,
Michigan, A. M. MacKenzie, financial
agent for mining companies says In
"I am confident that you believe
that I am with Arizona.heart and soul
In her present fight for single state
hood. The enclosed, clipping from
the Hancock Daily Journal evidences
in part the sentiment of the copper
country men who are financially in
terested in Arizona, and you know
such persons are 'very numerous.
"I know it will bo cheering to your
readers to know that there is a strong
sentiment here in favor of single state
hood for Ari7ona and I can assure
j on that I will at the first opportunity.
gather up all possible evidence of this
sentiment and place It where it will
be most effective for Arizona's wel
fare. "Arizona Is well liked here and I
Michigan people have cause to be
proud of that territory, for though for
bidding in appearance perhaps, to the
uninformed visitors, our people know
kv !tha,t both avo and below
ground. Arizona Is more tban all her
people have claimed for her.
"I expect to bring to Arizona and
Sonera early next month a very large
party of the best class of business men
andrmining men. On this occasion I
intend to have these men go right un
derground and examine the properties
tbey are interested in eo they may
actually know tho facts about them.
The clipping from the Journal re
ferred to by Mr. MacKenzie reads as
"Copper country people who have
large Interests In Arizona Join the
almost unanimous protest of the peo
ple of Arizona against joint statehood
with New Mexico. The objection
should appeal to fair minded men ev
erywhere, andl should block the plans
of politicians to bring Into the union
a new state and a new pair of United
States senators under conditions al
most certain to make the event an In
jury both to tho nation and to tie
people dlrectlly concerned.
"The mere fact that the Arizona
people prefer to remain under the
territorial form of government rather
than accept statehood as a pan of the
same state as New Mexico snouiu
be enough to defeat the statehood
plans of men who have no personal
interest In either territory It seams
clearly out of harmony with the spirit
of democracy that a people should be
forced to accept an alliance that ts
at.horrent to them.
"Nobody knows the southwest bet
ter than Charles F. Lummis and in
bin magazine Out West, he says of
joint statehood: 'There is no argn-
PHITCBAR9, HAfiEN & CO.
Brokers and Promoters
Front Rooms. New Telephone
Bldg., 'Phone 135, Bisbee, Ariz.
The handling of "Bonanza
Circle" and other Curb stocks,
on commission, OUR SPE
CIALTY. Transactions for either buy
ing or selling orders completed
witnout any annoying delays.
Quotations by wire come to
our offices "every little while"
during brokerage hours direct
from Calumet, Michigan the
HUB of the Bonanza Circle
There Was Plenty
The market yesterday was
anything but cfuiet, there being
a goodly amount of trading,
with prices on the -upward
move. It was a good opening
as well as a favorable closing
for the session, and the tenden
cy Is entirely for the better.
P. & D., Keweenaw and C. & P.
were in greater demand than
any of the other stocks, and E.
Butte is also being picked up at
asked prices. The lower pric
ed stocks on the list are being
somewhat neglected for the
presenL A general advance ac
companied by greater activity
is anticipated for at least the
remainder of tho week.
Closing Quotations, Jan. 16.
C. k. A $122 001125: 00
'US.t.V. 52 00
C. & P. 38 00
P. fc D. 27 00
Junction 28 00
N. Butte SO CO
H. Butte 9 501
Keweenaw .... 17 00
"Warren 14 251
Denn - 24 00
Blk. Mtn. . ... 14 00
"vT.'& A, C 60
L.8.tA, 10 00
Cochise ... .... 7 00
Development stock of the
CANANEA-DULUTH and SO-NORA-BONANZA
can be had by making applica
tion at our offices. The former
is being placed at $1.00 per
share and the latter, until Sat
urday evening next, at 60 cents
a -: -;) m
MINERS AND MERCHANTS BANK
CAPITAL - - $50,000 STJKPLUS - - $50,000
A GENERAL BANKING BUSINESS TRANSACTED'!
;U. C. SHATTUC1C,
IDIRECTORSCL. C. Shnttuck:, J M. Muheim, L. J. Overlook.
Jakob SchmU, J. T. Hood.
OUR BRANCH AT LOWELL,
Buying and selling Gopper Stocks is my
exclusive business. That is why I can
give you best service buying or selling
Phone your orders Telephone
"Facts about the Warren District"
Is yours for the asking.
Closing quotations, Jan. 16, 190C.
C. & A. ..r ?1?2 00'
C. & P iS 00 29 00
L. S. & P I 53 00
p. & D 27 00! 2S 00
Junction 2S OOi 29 00
North Butte 89 C0J 90 00
Bern 24 00
Blk. Mtn 11 001 15 00
Warren 1 001 15 00
Warren 14 75
American 20 00
W. & A 6 00i 7 00
Greene 29 25 30 00
Keweenaw ' 18 00
East Butte 9 00) 9 50
went which any scholar of history or
statistics would for a moment proffer
In favor of joint statehood. The only
reason why It is attempted to be per
petrated Is selfish ignorance on one
slue and selfish timidity on the other.'
"New Mexlc- Is i ery far from being
proper material for statehood, either
singly or In ronjunction with a more
favorably situated territory like Ari
zona. If Arizona is not fitted for
statehood alone, It will be far better
lo let her wait until she is, than to
force upon her statehood accompanied
by compulsory association with such
a land as New Mexico.
BROOKS CONSOLIDATED COPPER
13 NEW NAME.
Has Promising Ground in the Ajo
Mountains Reorganization Means
Taking of Active Steps in Matter of
Development Little Done so Far on
At a meeting held last night at the
offices of Pritchard, Hagen & Co., the
Cochise Prospecting, Mining & Devel
opment Co. was reorganized under the
name of the Brooks Consolidated Cop
per Co. Tho latter4 name Is one un
der which the company has perfected
organization In Mexico.
Articles of incorporation of the new
company will be sent to Tombstone
and Phoenix today for record, follow
ing which steps the stockholders of
the company will meet to elect officers
and thereafter to arrange for develop
ment 'work it is proposed to do on the
property. The latter is about thlrt
miles from Cananea. Splendid tvr
face indications abound for large and
rich copper deposits. To the present
time Xho ground has been prospected
only in a small way. Cuts that have
been made, however, on the ledge have
shown copper values at the surface to
extent to give reason for expectation
of rich ore at depth. About 400 acres
are held by the company ia the Ajo
mountains. The ground is pretty veil
known as the BerkoviU property.
Under the articles of incorporation
that have been adopted .the company
is capitalized for one million dot'r.ts in
shares of par value of $1 each. So
far the company Is practically a hold
ing organization composed cf seven
teen members. Following the com
pletion of organization a portion of
the treasury stock will probably be Is
sued for the purpose of securing mon
ey for development.
Monarch Baking Powder is abv
tuleto nnr Ait us Drove it to vou.
We are demonstrating It today and
giving a biscuit cutter win eacn pur
chase of a ono pound can. Come In
and ret a hot tlscuit. Lew ell Com
J. M. MUHBIM,
Is Fully Equipped
FAIR, PHOENIX DECEMBER -4th to 9th
Copper Queen Hotel
WARREN DISTRICT STOCKS
Wired Quotations Received Regularly
Phone ns your order. No. 286
F. O. Building
j' "'' anBaBOBEasniBSBBBBHBaBBa
IfiiNiNG and Power
ENGINES, BOILERS PUMPS.GEARED & FIRST MOTION
HOISTS. AIR COMPRESSORS, DIAMOND TT'tS-
FORGINGS CASTINGS, ETC.,
COMPLETE PLANTS Gold and 8llver Mills, Concentrator
Bjrsr.Ido Plants, Smelting and Converting Plants.
Carl Clausen M. E.
Representative Engineer fort
Wellman-Seaver Morgan Co. Meehan Boiler & Construction C
Hendrle & Bolthoff Mfg. Co. Sturtevanto Mill Co.
Westlnghcueo Elec and Mfg. Ca. Union Iron Works.
ennylvanla Boiler Work. D'Oller Engineering Co, !,
GET OUR ESTIMATES
Was a surprise to the men who lived by candle light,
and the man who was used to coal oil smoke and
smell side-stepped a little when they wanted him to put
in gaa. All of these are now
Hopelessly Behind the Times
We wonld like to explain to you the many advantages
and points of superiority' of
I Over others
Bisbee Improvement Company, -
Copper Queen Hotai Building. Phone 197,
A. C. BilicKe, o. S. Mitchell.
LOS ANQELE3, C .
Central Location, Kxceflagt Accommoautioni, Priee Ketameal.
Can troBi tS. depots, aUo all eiectno exenreloa sad nwrl eaw
toj 4 deer.
J. T. HOOD,
to Handle Anytfc ng In the
C. A. BENNETT. M0r.