Arizona republican., 1895-08-10
SOLD FOR $40,OO0.
The Handsome Price Paid For
 a Mine.
Only Partially Developed But Enough to ProvefThat
 It Was Rich.

From the Prescott Journal-Miner.
 Brief mention has heretofore been made in these columns of the sale of the Planet and Saturn mines in Fools qulch, between 7 the Congress and Yarnell's mines. The sale is one which deserves more than passing notice, as it is rather remarkable inIts character. Among the numerous miners and pros- pectors who quit Colorado on account of the depression in silver, and who drift ed into Arizona in search of gold, was Henry L. Scott. After prospecting our hills and mountain sides for some time. prospects in Fools gulch, and on July 20. 1894, put up monuments covering four claims, two of which were named Planet and Saturn respectively. Before he had done much work on these claims another man, W. A. Clark, an old Arizona miner, formerly of Tomb stone, came across the same claims and found some very rich ore on them. Finding them already located he began a search for the locator and after ind ing h1m secured bond on the pro- perties for $lO, GOO in October 1894.
 Associated with MT. Clark were Carl Holzschue, 6 bookkeeper at the Con- gress mine, and Captain B. F. Coy. These three started at once on the development of the property, and sank a shaft 125 feet deep with several levels, crosscuts and open cuts, showing up 8 fine property. On Monday last they closed deal with Boston parties for the sale of two claims for $40, ,000 cash down, the original locator and each party interested in the bond pocketing the snug little sum of $10,- GOO. 55 L ~
 The purchasers have incorporated under the laws of Arizona. under the name of the Planet-Sat turn Mining com- pany, the incorporators of which are c. Everett Clark. William H. Sayward, Edward D. Peters and William A. Clark.
 Dr. Edward D. Peters, one of the best known mining experts in the country who is one of the incorporatoIs, has been appointed general manager of the company, while William A. Clark has been appointed local superintendent and will have immediate supervision oi the mine. These gentlemen propose to develop the mine in systematic man ner before erecting any machinery fol the reduction of the ore, and will sink the shafts 900 feet apart to the depth O 500 and will then connect them at the bottom by level, and other levels will also be run at convenient distances from each shaft in both directions.
 The claims are located in the same kind of mineral dyke that the cele brated Congress mine is situated, ant appearances indicate that they nigh be on the same lead as it is. The aver age width of the ledge, as far as opened up, is about the same as that of the Congress, about four feet.
 The latest discovery in these claims is the outcroppings of what appears tt be large. and what is certainly yer. rich ore body from the surface. It i two feet wide and the ore is decom posed oxidized iron, the lowest assa! value of which is $175 per ton, and as says have been obtained running wa. up into the thousands. With the intel ligent management which is assured b, the experienced gentlemen in charge o the property, these claims promise tt develop into large dividend paying one at no very distant day in the future.