The Florence tribune., 1899-12-16

other copper companies hoated this year, believe that this is about the best of them. I think it will prove so. Your directors have been careful to select good officers to take charge of the various departments at the mine i, and I have pleasure in saying that we have lately engaged Mir. Truman, who has had great experience, and has late ly been at the Mountain Copper Mines, to go out as manager of our property. He is well-known to Mir. Alexander Hill, our consulting engineer, and think, with the two working together, that we should get the mines put into shipshape order shortly As regards special settlement for the shares- this will be applied for, and there will be no difficulty about getdng it ss aoon as the final call has been paid. I wiil now read the
 LATEST TELEGRAM RECEIVED FROM MR.
 HILL.
 He Prospects of mines are extremely good; ore improves as development progresses Ray: A shaft is being sunk; ore is improving Tribunal, Humboldt: A shaft 45 1t. deep; striking ore; convinced have very large supplies of orc. Mill run ming well"-that is the small mi re- ferred to in the prospectus. Since the company wars formed am sorry to say there was a breakdown in the ma chinery, but, apparently, it has now been set in order and is running well, and, I believe, at fair profit. "Fuel very scarce all difficulties can be over come. Following portions of machinery already ordered-hGuling engine, To- comotive, cars, rails, air-compressor, 200 tons concentrating plant. The above costs s30,000. Serious delay has taken place in delivery of machinery. Rails have just arrived; hope mill will be running by May. Railway is in course of construction have completed portion of road-bed. Every prospect of Southern Pacific building railway to Riverside; this district attracting attention. Butte Montana representa- tive coming to take the bond of neigh pouring property" That shows the value of the district. The Butte Montana Co. have already Q good mine, and their representative is fossicking about to see fl he can get hold of property near us. Mexican labor is plentiful in the neighborhood. Com slider the properties are under-estiu- ated That means, gentlemen, that you have got your property very cheap ly. and think it is an eminently satis- factory feature. fApplause.) I will now call upon MT. Gordon to address you, and to explain, by means of the map, the situation of this company's mines.
 A DIRECTOR WHO HAS VISITED THE PRoP-
 ERTY.
 Mir. J. Gordon Gordon (director): Gentlemen, as one of the directors of the Globe Minerals Co.,, who were the vendors of this property, went out to see it last Nov. and spent some time there with Mir. Hill. I went over the place pretty carefully on that occasion. Of course, it was on the examination we then made, and on some prospect ing work which I ordered to be done, that the property was developed suffi- ciently to be sold to the present com pany. l can only say, to begin with. that l thoroughly confirm what MT. Hill has stated in his report. All the surface observations we made then are place where we could go underground was at the Ray Mine itself, and even there the old workings, which had not been carried out in very systematic manner, had to a large extent fallen in, and we could not see much. How ever, we got some assays, and those assays are now being confirmed and the ore as we go down in depth is im- proving, which is not an uncommon feature in good mines. The point that should like to dwell upon for a. little with your permission is this the ore everywhere, so far az we have found t, is what is called B concen- trating ore; that is to say, it consists of rich experiencing minerals, such as oxides, carbonates, and grey sul. phide-the latter containing, when pure, about 75 per cent of metallic copper. These various minerals are fairly evenly distributed through soft, friable vein matter. The lode matter is thus easily mined, which is very favorable feature; and this formation seems to go to form the Ray mine, marked No. 19on the map, through No. 13 and Mo-. Il right up through Nos. and 8, and it has been found in the Sharkev, which is not numbered and the Humboldt, to which reference is made in the telegram. It seems tc be, as far as onec can tell from the sur.