The Story of the Calumet & Arizona Mining Co.

(from Chronicling America)

When Kipling wrote his famous

poem “IF” he must have had the pioneer miners in mind when he penned

that third stanza “If you can make one heap bf all your winnings and risk it on one turn of pitch and toss and lose and start again at your beginnings.

And never breathe a word about your loss. If you can force your heart and nerve and sinew. To serve your turn long after they are gone. And so hold on when there is nothing in you except the will which says to them hold on.

Tours is the earth and everything thats in it And what is more you’ll be a man my son.”

 

The men who discovered, financed, and developed the Calumet and Arizona mine took part of the earth and everything in it and proved themselves men at all stages of the game. Many of their operations were looked upon as sheer madness by experienced mining men of the district but Captain Hoatson and his associates; Gordon R Campbell, T F Cole, Geo Tener, and a half dozen others possessed the courage of their convictions and once they started to operate the jibes charges and croakings of the skeptics simply spurred them on to greater endeavor. They took a chance in buying the property which had been offered to one of the largest mining corporations in Arizona and turned down as being too much of a risk.

They took a chance in financing the proposition when thru rumors that the property was valueless many original subscribers failed in their- payments and others who paid accusing them of dishonesty. They paid back over 400,000 of the original promotion stock. They took a chance in following up THE MOHAVE COUNTY MINER and OUR MINERAL WEALTH their conviction that the ore bodies extended to the south and east of the Copper Queen discoveries by sinking a shaft 1300 feet before a pound of ore was struck and all the time were subject to adverse criticism from men who not only accused them of insanity but denounced them as stock jobbers and thieves.

 

When Captain Hoatson against whom the brunt of the criticism was leveled was charged with dishonesty and the fleecing of the stockholders he remarked,” Some day the mine itself will reply to the charges”, and the record to date of over 46000000 paid in dividends to shareholders who stuck is an eloquent and convincing answer.

 

In 1899 the Lake Superior and Western Development Company was formed to develop mining property in Arizona and John Graham who had worked in the Copper Queen mine was sent to Bisbee to make a survey of properties and conditions A short time later Captain Hoatson an experienced copper miner who had been successful in the Calumet Michigan and other fields was also sent to Bisbee and became interested in property adjoining the Copper Queen mine.

(The title was owned by the Costello group and the title to which at that time was in dispute. So, )Hoatson returned to Calumet and with the aid of Mr Charles Briggs the president of the development organization succeeded in raising 190000 for the purchase of Bisbee property and accompanied by Gordon R Campbell a young attorney acting as legal advisor for the development corporation went to Bisbee to start netgotiations for the purchase of the Costello group (property). After many delays negotiating which Costello received his title from the courts and according to an old agreement offered his property to the Copper Queen interests who refused to pay, asked for an option (that) was secured by J Hoatson who agreed to pay the full amount before the end of the year. The financing proved to be a difficult task. The people of Calumet were skeptical and it became necessary for Hoatson to enlist the aid of other mining men amongst whom was T F Cole then managing the mines of the United States Steel Corporation who in turn interested George Tener of Pittsburg both of whom aided financially. Costello extended the option for a year and the money was secured.

A shaft was immediately sunk and in February 1901 at a depth of 750 feet a drift of 170 feet found the ore which proved to be of a fine quality. The Calumet and Arizona Mining Co was then organized the change from a development organization into a mining corporation being made on the basis of increase five to one.

The initial dividend was paid in 1903 and from that time on the record of the company has been one of their latest acquisitions the Junction shaft is proving another big earning property. Other developments have been the purchase of 40000p0 In bonds of the New Cornelia Copper Company and the expansion into the Ajo field of mines. Practically 10 per cent of the 8000 shareholders are miners employed on the property whose faith in the company is leaping a rich reward.

The most cordial relations have always existed between the employers to make working conditions safe and agreeable.

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