Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1889-12-02
SANTA Re COPPER COMPANY,
Some Inside Facts About Its Manage
ment and Its Splendid Prospects

Hon. Jay A. Hubbell, late president of
the Santa Fe Copper company, made q
statement recently to q representative Of
the Boston Transcript which contains
some inside information of local interest
regarding affairs at San Pedro. Some ex.
tracts from this statement are appended,
and in connection Herewith it may be
said that Mr.. Lewissohn and two other
gentlemen practically take charge of the
company, and they may take the stock Off
the market eventually. Mr.. John Stan
ton, of the Atlantic & Central Milling
company, OF Michigan, it is further stated,
may become prominently interested. In
fact it is probable that ere this the stock
has been wholly taken out of the eastern
market, for now here in the latest issue of
the Mining and Engineering journal is it
found quoted. Mr.. Hnbbell said
"The company got into position where
it needed more funds to carry out its
work OF putting the mine into the best
possible condition to produce copper at Il
profit Stronger backing, also, was need
ed. 1t was suggested by the friends of
the company that some effort be made
toward economy at the Boston office.
as we'll as elsewhere. Mr.. Leonhard
LeNissohn expressed his willingness to
make advances to the company, and
suggested that ii it were agreeable to all
parli' s, he would be president without
Il salary, and he also would furnish Office
rooms in New York free Of rent This
proposition was accepted, and therefore
willingly resigned the presidency Mr..
Lewissohn and his friends, un Ter the
arrangement, will put money enough
into the enterprise to make it a success.
they are closely identified with the COM
pany by having a large interest in it,
The .uipment will all be in place bv the
l st of December, AID will enable the
umpany to reduce the cost Of produc-
ton, so as to make a profit with copper
at 10 cents. The mine has never looked
so we'll as it does now, and when work
is begun again, about December / , there
will he from three to four months over
supply on hand ready for treatment,
Viii h has been developed by the open
ing work which has been going on.
by the LIST of February connections
will he completed at the new develop
ments at the Apex mine, where a large
deposit OF decomposed iron ore has been
OPP ned, averaging about IS per ton gold
and 3 per cent copper. This deposit
is very thick and cross-cut has heen
made for distance of about 80 ieet.
which will give breast for stopping or
taking out ore in sufficiently large guam
titles to warrant any estimates for ore
supply in the future. On the hanging
wall of the deposit there are large seams
of rich copper ore. Ground is opening by
shafts and tunnels by which the company
can draw ore from four mines, all of
which are as valuable as the White mine
from which we have been producing cop
per. With little more money now and
careful MANAGEMENT the Santa Fe will be-
come very large producer of copper
matte, averaging 40 per cent fine cop
per, and gold matte averaging 5000 per
ton. The gold ore is mostly iron and fur
nishes just the flnx needed in smelling
the copper. Formerly it has cost the
company 81 per ton for iron huxing, but
now the Santa Fe can furnish its own
iron and deliver it at the smeter for 81 80 |
per ton, besides the iron containing gold |
at the rate OF IS per ton.