Arizona weekly enterprise., 1882-03-11
AN INTERESTING LETTER.
Crude Petroleum as a Cheap
 FEel for Arizona.
NEW YORK Cry. Feb. 24 1882.


 ED. ENTERPRISE: I have not forgotten the fact that I promised to write you when 1 started on my trip east, but ] have been so much engaged up to date that have had but little time to spare from business spent three weeks time in the city of Chicago visiting with my family, who have been in that city for the past eighteen months for the purpose of my children attending school
 I spent one week at LpPorte, Indiana, with the directors of the Specie Paying Gold and Silver Mining Company, which company owns the two mines known as the Specie Paying and Mineral Hill sit hated southeast of Florence fifteen miles. The board of directors and stockholders of said company are well pleased with the present showing of their mining property and the work of development will be pushed forward vigorously as soon as I can return to direct it.---
 I spent some time in the oil re~ions of Pennsylvania, mainly in the interests of the Specie Paying Mining Company My investigation, while in the oil fields and since my arrival here, leads me to the conclusion that crude oil, at present prices, is the cheapest possible fuel that can be used for the reduction of ores, and that the time is not far distant when it will be brought into use for that purpose The experiment. has already been made and with fair success as the result, but there are yet some difficulties to be over come in the manner or mode of applying the oil as fue', but these will certainly be overcome, and when accomplished will certainly prove of very great benefit tu the mining interests of our Territory. Having an abundant supply of oil in Southern California near by us, we will be able to procure 1t delivered along the railroad at very low figures It is safe tc say that if crude petroleum can be ap- piled successfully as a fuel for the reduc- tion of ores, that the cost will be from one-third to one-half less than any fuel now used in the Territory, and this would certainly enable us to work a grade of ores at profit that cannot be worked at present cost of fuel, except at loss.
 Mining matters are considered dull il New York City at this time, winch mean. that non-divldend paying stocks are 10 sought after by the general public as they were one year ago. This market has beer flooded with mining stocks, much O which represented mere mining locations undeveloped and without any adequate provision of funds for developments Other stocks were sold representing mines of considerable value, but which fell ia short of the anticipated value Thu people have been disappointed in thei failure to realize the large dividends tha they had expected to receive They ar therefore Gas the miners say), ''littI, oH' on mining stocks, and the same ma, be said of undeveloped mining claims. I is very difficult to place any such properi, in this market, but not difficult to sell developed mine, provided it will bear in vestigation. It will sell for what it i worth, be its value one hundred thousan, or one million dollars, provided furthe that the party offering such property fo sale have such credentials as will enabI aim to secure the attention of capitalists
 expect to return home to Pinal abou first of April. Yours truly,
 P A. BROWN.