Arizona weekly citizen., 1885-10-24
LID. Reymert Mining Company.

Tho or0anizatiou of the J. ID. Key inert Mining Company Is now complete and all arrangements for the present and future working of this celebrated uroup of mines consummAted. The dl- reotory is composed of the following named gentlemen: Mir. Samuel Foster, Dr- E. J. Fraser, George Laws, San Francisco; D. T. ElmOre, J. ID. Key n,e-t Piual. ArIzona. The directors have elected the following officers for the ensuing year: J. ID: Key inert, President; Samuel Foster, Vice Presl- dent; J. W. Pew, Secretary, and ID. l. Elmore, General Superintendent.
 There are 100000 shares Cf stock, the oar value of which Is SlOO-each making an organization based on R value ot SlO,- 0OO. 900 if the stock should ever reach us par value. Of thls stock MT. J. ID. hey- inert holds 7O,OOO shares, ID. T. Elmore, 10000 and the remaining 2O,OOO are or fered for sale to the publle at S5 per share, the proceeds of the sale of the lat ter to be used to purchase machinery and deyelOpe the mines, and nearly all of which are virtually sold st that prlce, The stock is not to be listed on the San Francisco stock board, and all the stock is to be fully pald up and not to be assessed, the parties interested De- lieyiDg that 1t is a sure and permanent investment and one that they Will not have to manipulate On tue board m or der to get their money back or reap large returns from.
 Messrs. Samuel Foster and ID. T. FL more were app pointed committee oftwo by the board of directors to look at sew eral mills in the Territory that have been offered to the company at largely reduced price and to report on the same, The company have placed a force ot men at work at Willow Spring, on the RenaciO mill site, developing the water supply, enlsrging the tanks so as Co furnish a sufficient amount to run ILL stamp mill to be erected, but the power used will be l25 horse, which IS enough to run 40 stamps Is necessary. They are also excavating for the mill site and making adobes for the residence and office of the general superintendent and | buildings to be occupied by the engl neers and mechanics employed n the erection of the mill and running the same.
 On Monday a large and exceedingly rich strike was made m the south drlf from the bottom of the leo foot shaft ou the Europe. The drift IS in sOutl about 9 feet and shows a body of Or' four feet wide, two of which Is very rich carrying native and horn silver IT larg, quantities. There are nearly twenty toni of ore on the damp that Is estimated, by those who are perfectly familiar with 1t that will average over S2OO to the ton The ore IS a chocolate colOred spar The whole drift IS Tn ore. The nortl drift from the level IS in fourteen feet all in good ore. The vein was crOss-cuI here to a distance of 40 feet to the west and If feet to the east. where the foot wall was encountered, most of which work Is all in good ore. The hanging wall. which Is the only wall yet found, Il what IS called schist. slate. The com. pany propose running the drifts a dis tarce of 100 feet each way on the Vein from the bottom of the shaft, 90 6s tC place the mine in a position Co stOpt out enough ore above to keep the mil fully supplied, after which the shaft WIl be sunk down another 100 feet, when the above described work will be re peated.