Daily Arizona silver belt., December 18, 1908, Page Page Four, Image 4

About Daily Arizona silver belt. (Globe, Gila County, Ariz.) 1906-1929

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DAILY ARIZONA' SILVER BELT
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Mines and Market
TUFTS TALK MUSES
III
ilET
ft J DISILLUSIONMENT OF SPECULA-
TIVE TRADERS IN OHIO
CLUB SPEECH.
LEADERS GO OFF 1 TO 3 POINTS
"WORST EEACTION SINCE MAINE
ELECTION METALS HOLD
TO GOOD PRI0E8.
llf it. 'RW YORK'. T)ncomhcr 17. Tbcro
rt ' ": r ' : . . .
was tho sharpest DrcaK in prices oi
I...!. (A.lnn .1iiilt I. no nnAl.rrrtfl 4IVlfn
3 I..1- 11... I nAn fnllnu.inif illA ATo
si . . rt i i c? ..i.:..m
' election in ocpicmuur. ofuiau
'"$ holdings being shaken out of -weakened
jxisitions were thrown on tho market at
concessions which gavo tho appearance
'of semi-demoralization.
Tho most significant fuaturo was not
tho volume of liquidation, which was
'not unusually heavy,- but tho otal
abandonment of support of tho market,
-which held prices rigid against reac
tionary influences for tho greater part
of tho tirao throughout tho year's great
liso. That policy was thrown asido to-
4 day.,
Acuto weakness in American Smelt
ing shares and other companies in tho
metal trade found a special explanation
Lin tho critical attitude displayed by
members of tho ways and means com
mittee of ttho house toward tho duty on
.lead ore.
Reports of unBtablo conditions in the
copper market and of production far
outrunning amounts going into con
4 sumption wero contributory causes
which pulled down Amalgamated Cop
per, along with Smelting stocks. Tho
weakness was not limited by any re-
. stricted field, tho list of affected securi
tics spreading gradually and with in
creasing effect. Tho remarks of the
tA president-elect at tho dinner o ino unio
society scqmca to oo jcgarueu as urB
. ing disillusionment-to some, speculative
, clement, which dwelt on futuro inlrau
, nity to be enjoyed by corporations as
1 n tho motive for advancing prices.
'Tho cheapening of prices amounted
td' from one to three po'uts for prac
tically all stocks dealt in.
fJ Bonds irregular.
I ' METAL MARKET
NEW YORK, December 17. Tin was
sFeady'in London, spot closing at 132,
c-i 2s,-Cd; futures at 133, 10s. Tho lo-
y cal market was dull; spot 2S.90 to 29.15.
"'Copper advanced in tho English mar-
v kct. Spot 62, 123, Cd; iuturcs, 63,
f 10s. Locally, unsettled. Lake, 14.25
to 14.37V1-; electrolytic, 14 to 14.12 Vi;
casting, 13.87 to 14.
f -Lead was unchanced at 13, Cs, 9d n
London, and 4.20 to 4.25 in tho local
market.
VSpelter was. unchanged in both mar
kets, closing at 20, 13s in London, and
"at 5.10 to 5.15 locally.
Locallv iron was unchanced. '
Silver 43 3-8; Mexican 'dollars 45.
OEAIN MARKET.
CHICAGO, December 17. Wheat
closed weak, almost at the bottom. May
105 7-8 to 100, July 97 3-4 to 97 7-8.
Corn was weak. Final quotations,
May CO 3-4; July CO 3-4 to CO 7-8.
Oats closed 1-4 and 1-S to 1-2 below
yesterday. May closed at 51 3-4, July
at 40 5-8.
" . CLOSING STOCK
QUOTATIONS
(Dy J. A
Wilson)
78.87 ....
...... 81.12
127.50
... 47.75 . .....
Amalgamated ....'
American Smelting ..
American Sugar
Anaconda ..-.. ,..
Arizona Comcrcial ..
Arizona-Michigan
Atlantic
"ArizjK)
"Black Mountain
Boston Con. ..
Butto Coalition
Butto Balaklava
Butto & London
'Calumet & Arizona....
Centennial ...
Chomung
Copper Range .
Cumberland Ely ... ,.
Colo. Fuel & Iron
Cactus (Sub.)
37.00
.... 2.00
16.50
...... 1.37
2.87
15.75
.. 26.25
1425
Z". AO
11C.00
33.50
23.00
37.50
2.06
17.00
1.50
3.00
16.00
26.50
15.00
.45
117.00
34.00
21.00
79.00
7.S7
78.50
7.75
37.50
.CO
Phone 1741
J. A. WILSON
Stock and Share Broker
Office Martin BIdg.
Quotation Service Hourly Direct'from Boston
New York Correspondents: Hayden, Stone & Co.
Listed securities handled on substantial margins
50 per cent advances made on listed securities
Enquire for terms.
List your local stqcks.with.me.
jr
3.75 3.87
Davis Daly
East Butto
Erie Railway i
El Capitan (Sub.)
Franklin ., ...
First National Copper,
uiobe consolidated
Goldfield Con
Qrccno-Cnnauen .
Hancock ...... ,'......,...
Helvotia
Inspiration
.Keystone .
Keweenaw
L. S & A.,.r..v
in. 'if oso ...
Miami .
Missouri Pacific
Michigan
Mohawk
National Mining Exp,
Jfovnun Con.
Nevada Utah
Nipissine
North IJutto
Ojibway
Old Dominion
Orphan a....
Quincy
Raven
Reading
Itock Island
Santa Fo Mining..
Shannon .
Southern Pacific
Superior Copper ...
Superior & Boston
Superior & Pittsburg
Tamarack . -
Trinity -...
Tonopah Nov.
Union Pacific
Utnh Copper .
U. S. Steel, common...
U. S. Steel, pfd
Utah Cons
Yukon Gold
Ora Cobro .
Pinto Copper . .- -
Market News
Tho slight recovery in stocks toward
tho close of Wednesday's session proved
to bo only the Tcsult of profit taking
by a portion of th? professional short
intorcst, and soon after tho opening
yesterday on tho New Yorl: exchange
tho selling movement was resumed and
nided by various rumors of a discour
aging character!! the decline became
goneral and toward the close of the
day's trading, precipitate. Tho losses
in many active issues wero quite severe
and support seemed to bo entirely lack
ing. Whilo tho declino may extend
somewhat farther, wo believe that tho
best dividend paying stocks .should, bo
bought at the present level.
Tho annual statement of tho Union
Pacific railroad, published last week,
mado a surprisingly strong showing
both in gross and net earnings and in
the increase in value or assets hehl in
the treasury. Since last December
these assets have increased in valuo
over $70,000,000. Tho statement is nil
tho more remarkable in that it covers
the period of panic and tho business
depression which followed. It affor.ds
striking evidence of the remarkable
business conditions prevailing in the.
west, where in many sections the vol
umes of trado is showing an increase
over tho high point of 1907. Tho agri
cultural sections have apparently suf
fered less from the business depression
during tho past twelvemonth than any
other part of tho country, and the
abundant crops it has harvested, which
it has been able to ir-r!:tt at unusually
satisfactory prvo-, lse iiastencd tho
business reenv'y taat is now extending
to all classes of industry.
The citizens' of Butte and other Mon'
tana towns, whose existenco depends
upon the business of the copper mines
and smelters arc holding mass-meetings
to p?o'tcst against tho action of Presi
dent Roosovelt in the smoke nuisance
matter. Tho president has directed tho
attorney general to send an expert to
Anaconda at once to make a thorough
investigation of tho damage resulting
to farmers and to standing timber by
tho operation of the smelters, and the
effects that would follow to the people
of Anaconda by tho closing down of
the works. Tho citizens of theso towns
claim that all -the damago that could
possibly bo inflicted in thp smoke area
has already beon done, and interfer
ence by the gournmcnt now would
provo of no benefit to tho national for
est reserves. Tho timber values of tho
entire area affected by the smelter
smoke would not equal the wages paid
to men who would bo thrown out of
work, for a single week, as other smelt
ers in Montana ill also bo involved if
tho policy of tho president regarding
tho preservation of the national forests
is carried out.
Job. II. Hamill has opened offices
over tho postofiico. Hours: 10 to 11:30
a. m. and 1:30 to 4 p. m.
P. O. Box 1367
?r- '.v"
... 9.25 9.50
.. 3325
. .. .... 1.00
10.00 10.50
f... 7.37 7.50
..... 7.75 S.00
7.87 8.00
10.87 11.00
.,: 1.50 12.00
4.50 4.C2
1 Ti
.... .... . .. y WU
' 1.00
v 5.00 5.12
...,..f v..'. .... 5.75
- :.;...-.,.. u.ei: ..;
.. 12.50 12.75
.. C3.25
13.37 13.75
CS.00 08.25
CI .02
ih 7 m nn
2.75 . 2.S7
10.25 10.37
81.75 82.25
13.00 13.50
55.75 56.25
. 93.00 95.00
89 .90
13S.S7
.. ? 22.75
. 2.37 2.50
. 16.75 17.00
119.75
32.00 33.00
17.25 17.50
17.15 17.50
sn.nn sn nn
... 16.50 17.00
... 6.50 0.87
...180.12
... 44.75 45.25
. 53.00
...110.50
... 41.50 45.00
... 4.50 4.62,
.. . .25
20
ttlfil DETAILS OF
E
MERGER
ALL THED3 GREAT MINING COM
PANIES TO BE CONSOLI
DATED AND LISTED.
CAPITAL STOCK WILL BE $50,000,-
000 NEED MONEY FOR
DEVELOPMENT.
Later advices regarding tho great
Phelps-Dodgo mcrgor, mention of which
was recently made in tho Silver Belt,
are In hand from tho cast and aro to
tho effect that Phelps, Dodgo & Co.'s
cxtensivo mining properties, now sopi
aratoly organizod as tho Copper Queen
Consolidated Mining company, Mocto
zuma Copper company, Detroit Copper
Mining company, and Stag Canon Fuel
company, will bo merged into a new
corporation to be designated Phelps,
Dodge & Co., Inc. Tho prcsont firm of
Phelps, Dodgo & Co. will bo dissolved.
It is proposed that tho capital stock
bo $50,000,000, divided into shares of
$100 each, which shall be used as fol-
For purchase of Copper Queen Con
solidated Mining company at' $135 for
each $10 share; Moctezuraa Copper com
pany shares to bo tnken at $307 9-13
for each $10 share, the Detroit Copper
company shares at $150 for each $25
share, and the Stag Canon Fuel com
pany shares at $800 for each $100 share.
For future issue by Phelps, Dodge &
Co., Inc., stock to tho valuo of $5,000,.
000 will bo held. Applications wrill bo
mado to list the stock on tho New York
or Boston stock exchange.
Tho firm of Phelps, Dodgo & Co. will
transfer its metal selling business to
the new corporation, which will sell tho
copper from all tho mines for which
tho firm has acted as selling agents in
both domestic and foreign markets. Tho
new corporation will havo nine direc
tors. On November 1, last, tho invest
ments in the plants to be taken over by
the corporation, exclusive of tho mines,
aggregated $2S,949,739.
Tho plan for tho transfer of tho prop
erties to the proposed corporation was
prepared by tho partners of Phelps,
Dodge & Co., who aro James Douglas,
Cleveland II. Dodge, Arthur Curtiss
James, James McLean, William Church
Osborn, E. Hay ward Perry, William I).
Van VIeck, Cornelius R. Agnew, Walter
P. Iliiss and George Notman.
A largo portion of tho company's
property is undeveloped and there is as
much ore in sight at tho copper mines
as at any other timo in the past. In
tho past five years the Copper Queen
company produced 291,595,087 poundli
of copper; for the 'same period tho Moc
tczuma company yielded 53,S58,751
pounds and for the same time tho De
troit Copper mine gave forth 80,217,
889 pound. The Stag Canon Fuel com
pany is conditioned for an annual pro
duction of 20,000 tons of coal per
month. Thp investment in this plant
is $3,226,4S3, exclusivo of the mines,
which arc in the Dawson coal fields, in
New Meixco, nnd which were purchased
in 1905 in order to assure tho metal
industries of ample supplies of coal
and coke.
A telegram to J. A. Wilson, the lo
cal stock broker, from Haydon, 3tono
& Co., of New York, was received yes
terday, stating that tho par valuo of
tho btock in the merged Phelps-Dodge
company is $100, and that none of the
stock will bo put on tho market for
sale. This telcgarm was in answer to a
query made by Mr. Wilson.
SUPERIOR&BOSTDN
IKE FIE SUMS
Second Annual Report to Stockholders
Property Already Self Sustaining and
Will Undoubtedly Become a Largo
Producer and Dividend Payer.
The Superior 4 Boston Copper com
pany has issued its second anuul re
port to stockholders, for tho fiscal year
ended Soptember 30, 1908.
Readers of the, Silver Belt have beon
kept well informed regarding tho de
velopments on tho Superior, & Boston
property, and thcro is littlo to bo said
that is now, although tho roport should
be highly satisfactory to tho stockhold
ers. President W. O. Rico refers to the
fact that tho first annual roport showed
an indebtedness of $250,000 on tho pur
chase) price of tho company's property
and that this debt has been fully paid;
so that the company is now the (owner
of 45 mining cailms, or approximately
800 acres of mineral land, traversed by
five well defined veins. During tho year
covered by tho roport tho company re
alized $48,341.01 from copper shipped
to the Old Dominion and El Paso smel
ters, a most gratifying shewing, when,
as President Rice says, it is considorcd
that most of thb shipments were mado
whon tho avorago selling prico of cop
per was scarcely better than 121A cents,
and that out of tho proceeds derived
from tho sale of tho oro was deducted
thrco cents per pound for marketing in
addition to tho cxponso- of .transporta
tion and smolting. Tho gross value of
tho oro shipped during October and No
vember was approximately $25,000,
which makes the total for fourteen
months over $73,000.
Tho financial fctntomqnt shows that
tho Superior & -Uoston company had a
balance, on hand Octobor 1, 1903, of
$292,812.70, of which $278,090.11 was
cash, tho remainder 'being made up" of
tro sold, supplies and bills receivable.
Consulting Engineer Frank II. Pro
bort, in his very comprehensive roport,
telta of the physical condition of tho
Surierior & Boston property, of tho de
velopments and improvements nmdo
during tho period under review; and tltt
votOB considerable space to tho Great
Eastern mine tho amount of develop
ment work done, amount and value in
coppor and in silver of tho ore shipped
each month, ctxent arid vnluo of tho
Great Eastern oro body, nnd its possi
bilities at groate Ttlepth. This ore body
is oponed vertically from a point 80
feet above the fourth level to the inter
mediate lovol 50 feet below tho fourth
level, and horizontally 230 feet in
length on the fourth level nnd 320
feet in length on tho lower or intermed
iate level, whilo in width this ono body
averages at least ten feet, and on tho
lower level where stripped is fourteen
feet wide, nnd tho oro higher grade
than on the level above.
Mr. Probert estimates' tho oro in
sight in tho Great Eastern mine at
20,000 tons nnd predicts that every foot
sunk in tho next 100 feet will put an
additional $7,000 on tho gross value of
tho property. Tho valuo of tho oro now
developed in tho Great Eastern mine is
placed at $500,000. Tho oro shipped
to El Pnso in September, which wna un
usually good, averaged 7.24 ounces in
silver to tho ton and 10.01 per cent
copper.
A now three compartment shaft is
being sunk north ,of tho shaft now in
commission to intercept thho Great Eas
tern oro body at a depth of about 950
feet.
In all, 0,374 feet of work had been,
dono on tho Superior & Boston property
at tho date the report was written, and
Mr. Probert says "Whon it is consid
ered that ever)' foot of tho work dono
has given us approximately $100 worth
of ore, tho company has surely reason
to be proud of tho record."
Application for listing tho stock of
the Superior & Boston company on the
Boston stock exchange has been made,
tho State Strcot Trust company having
been appointed registrar, and tho Bos
ton Safe Deposit fc Trust" company,
transfer agent. Engraved certificates
of stock, to conform with the rules of
tho exchange, havo liccn ordered, nnd
when ready for delivery, the present
outstanding certificates will be called
in to be exchanged for the now ones.
INSIST on getting SOLWICO flour,
mincemeat, spices, canned fruits and
vegetables. They are quality goods.
At your grocer.
H
Beauty Hot Blast Coal Heatoi
Your Credit Is
Good Here
o
mSh
You should always remombcr that
most cduga, and cold cures aro consti
pating. Ybt tho niost important thing
to do when you Jfnvo a cold is to move
tho bowels. You cannot promptly cure
a cold until you do this. Kennedy's
Laxativo Cough Syrup stops tho cough
by allaying inflammation of tho throat
and lungs, and it drives tho cold from
tho system by gently moving tho bow
els. Children liko it for it tantes nearly
as good as maplo sugar. Sold by Pal
ace Pharmacy and United Drug Co.
Tho old fashioned way of dosing a
weak stomach, or stimulating tho Heart
or Kidnoys is all wrong. Dr. Shoop
firBt pointod out this error. This is
why his prescription Dr. Shoop 'a Re
storative is directed entirely to the
cause of theso ailments tho weak in
side or 'controlling nerves. It isn't no
difficult, says Dr. Shoop, to strengthen
a weak Stomach, Heart or Kidneys, if
ono goes at it correctly. Each insido
or ran lias its controlling or insido
I nerve. Whon theso nerves fail, then
moso organs musi surety iuiiur. iuusu
vital truths aro leading druggistn ev
erywhere to dispense and recommend
Dr. Shoop 's Restorative. Test it a few
days and seel Improvement will prompt
ly and surely follow. Sold by Palace
Pharmacy.
W""'""1" !! " 1 1
Sewing machines for rent at J. P.
McNeil's Furnituro Store, opposite New
Miner's Union building.
Night lunches, Hargett's tamulcs.
Tho Littlo Wonder, next to Morchcad
& Lnnn's.
Prcvcntics, tho new Candy Cold Cure
Tablets, aro said by druggists to have
four special specific advantages over
all other remedies for a cold. First
They contain no Quinino, nothing harsh
or sickening. Second They give al
most instant relief. Third Pleasant
to the taste, liko candy. Fourth A
largo box 18 Provontiys at 25 cents.
Also fino for feverish children. Sold
by Palace Pharmacy.
Phone 751 for coaT, wood and feed.
ay
4tfftvto
nnHR REST Xmas
I JL present is some
f thing for the home
:! and there is nothing
J nicer for the home
- than a Victor or Edi
1? ison machine. They
make home so invit
ing and popular.
Wightman wants
to sell you one.
For the
Lj 1 L) J. jl i
Stoves
Ranges
ron
Furniture
Visit this store and you
will see how easy it
is to save money
J. P. McNeil
New Location....
We havo moved and aro better
prepared than cvor to sell you
CLOTHING, FURNISHING,
, GOODS, SHOES, NOTIONS,
ETC.
Fino new stock Give me a call.
D. Bertoglio
C58 NORTH BROAD STREET.
The White House
BROAD AND CEDAR STREETS
Globe's Leading and Most
Popular Drinking Oafs
Best Liquors and Cigars
and the best general bar service
In the city. A gentlemen's re
sort. Good treatment for alL
Bank Exchange
Restaurant
J. T. LOUIE, Proprietor
Now open in rear of
BANK EXCHANGE SHLOON
Chinese Chop Suey
and Noodles
Meals at All Hours
Open Day aud Night
Guarantee Paint Co.
Compossd of men who know their
business.
We aro tho only firm in the city who
guarantees work and material to be
first class.
If we do not give you satisfaction,
the loss is ours. One trial will convince
you.
We havo the faTiou Stop-All roof
paint, our own make. o will forfeit
$100 for any roof we cannot .stop leak
ing. Cor. Dovcreaux and Cottonwood.
Phone 1525 Box IS.
DE. P. B. CALER
DENTIST
285 N. BBOAD STREET
Over Palace Pharmacy.
Red
uctions
n...
Beds
A Popular Favorite
Is old Santa, be.
causo he is always
making people hap.
py. We do a llttu
In the same liat
ourselves. We
strive to make you
happy 'by supplying
tho best of Dia.
monds, Watches,
Jewelry, etc., it u
possible to get. Just
now our offerings
are especially
pleasing In quality,
variety and price.
There Are many
Christmas gifts u
our collection of
Jowelry and Dia,
monds and you cer
talnly ought to 8ee
them. We suggest
that you call early.
Mindlin Jewelry Co.
Jewelry Manufactured and Repaired
Pinal Dairy
ABSOLUTELY POTBE MILK
Quality and Eichness All Pre-
served In All Milk Cold. Wt
DO NOT BOB THE MTTk
To Make Butter.
Inspection Invited.
Tests Furnished on Bequest.
GIBSON BROS.
Phone 2163. Box 731.
GEORGE HOPE
Registered Stallion
Trotter, Eecord of 2:14.
Stands at Shutc's Barn
PEICE 125.00.
BE, H. A. SCHELL,
Arizona's Leading
Optician,
TUCSON, AEIZOKA
Bend broken glasses to be repaired r
duplicated. Next visit to Globe m
December or January
?i
We Save You Money H
t on Furnishing.
Your Home
Daisy Coal Heater
v
-r- :-