Daily Los Angeles herald., 1883-10-04
Hidden Wealth Disclosed.

A few weeks since the HERALD con-
tanned an account of the vast richness
of the Ray copper mine, in Ariz in
which many of our citizens are interest
ell, with a statement of its location and
advantages for the reduction OF ore. The
following matter-of fact statement con-
corning this mine we clip from the Ari-
zona Citizen of October lst, which
shows the possibilities and practical
working of the mine, and the names of
the managers of this vast property.
ssThe Ray copper company is incotpor-
ated under the laws of New YORK; with
a capital Of s., ,000, 900; 100000 shares Of
the par value of $40 each, which are
non -assessable. The company has re-
served l25,000 shares as a working
capital, which are sold at not less than
one dollar share, the proceeds of which
has been and is now being used for the
development of the mine and the erec-
ton of machinery. The trustees Of the
company are made up Of some OF the
most substantial and solid men of New
York, and by L. Zeckendorf & Co. of
this city. George H. Sargent of New
York IS President and Lewis Zecken-
dorf is Secretary and Treasurer. The
Ray and sixteen other mines compose
the group. They are situated near
Riverside, in Pinal county. The Ray
company's mines are perhaps the most
favorabiy located of any copper compa-
ny in Arizona, being only five miles
from the Gila river, which insures an
abundant supply of water as well as
wood.
Such well-known mining men as John
Williams, Of the firm of Bisbee, Will
Jams 4 Co., Of San Francisco, and j M.
Haskell, of this city, hive examined
and made reports upon them which are
most favorable. The latter-named gem
tleman reported (Dec. 20, 1882, $40, 900
cubic feet, or $3.50 tons, of ledge matter,
one-sixth Of which he estimated to be
pure copper.
A large force Of men have been en-
ployed in development work during the
past year, and, the management informs
US, with complete success. Most of the
work has been confined to the Ray,
Scorpion and Blk. On the Ray the
tunnel has been extended about so feet,
all in ore. Wine No. has been sunk
100 feet, at which point level is now
being run to connect with winze No. 2.
At so feet level has beep run which
connects with the winze; sinking con-
tinues in both wines. On the 50-foot
level a crosscut was run, disclosing a
perfect hanging wall and showing the
ore body to be about thirty feet wide,
consisting largely of native copper, red
oxide and copper glance, which assays
from 30 to 10 per cent in copper. There
has been absolutely no waste hoisted
from this mine since the new work be-
gan, and to all appearances the ore body
improves in richness. There is sufficient
ore now developed to warrant the ma
chinery necessary to reduce it and keep
a smelter going for two years, with every
indication of continuance. When the
large amount of ore now in sight is taken
into consideration, and the short time it
has taken to develop it, the prospects
for the future are exceedingly promising.
The Blk mine has shaft ITO feet
deep, and drift $50 feet, all in oarbo-
nate ore, Wuicu Will Average hboue 10
per cent. in copper, with a lode from
three TO four feet in width.
The Scorpion has one shaft down 80
feet, and another 100 feet deep, showing
strong vein of copper ore three to four
feet in width, averaging about 20 per
cent. copper. These shafts are con-
nected by drift at q depth of fifty feet,
and will be so connected at 100 feet.
The Ray Copper Company, while its
principal stockholders are in the East, is
nevertheless looked upon as Tucson
enterprise, as our leading business house
brought ii to the notice of Eastern cap
ital, and have taken an active part in
developing the mine and bringing it to
the notice of the public. y
This remarkable mining enterprise
win open field for the trade of this
city, like that which the Comstock
opened to the trade Of San Francisco.
In few days the bullion will be sent
forth freely.