Arizona weekly journal-miner., 1899-09-13


 never resumed work since the suit was decided, although 1t was favor able to the company. The lessess will ignore the old workings and will sink . new shaft at least 2J0 feet deep and perhaps deeper.
 B. H. Gray is in town snd is very much elAted over another important strike which he and Ed. Block have just made in the First Home mine on Big Bug creek. This strike vas made in shaft No. 2, 75 feet below surface and $50 feet south of shaft No. l. An ore chute of a shipping grade was discovered in shaft No. l some time ago by MT. Gray, and he has sunk on 1t to a depth of 2l0 feet with very satisfactory results. One very remarkable feature about this property is the fact that the ore is continuous. No barren places in the vein has as yet been found and there is always ore in the workings either of 6 shipping grade or a mill grade, none of 1t so low but what It will pay . profit in milling. Two hund- red tons were shipped to Denver and to Fl Paso, TeXas, smeltsrs, out Oi the first ore chute which was found on the property and none of il ran lees than $40 per ton in car load lots. The new ore chute just found n shaft No. ? consists of two feet Of ore which averages $40 per ton in gold, silver and lead, without any sorting and with but very little sort ing it runs up to S65. Copper is also making its appearance in the ore which IS a new feature and IS likely to increase as depth IS at tained. The First Home mine is one of those large strong contact Assure veins between slate and porphyry which has all indications of per manency. Since the Arizona East ern & Montana smelter has begun buying ore it has caused a great deal of activity on Big Bug and new strikes are almost of daily occur renee. The fact of having handy market for ores is going to revolu- tionize mining in Northern Arizona. Ore which runs SIS to $20 per ton with fair percentage of lead and with the present smelting facilities is a good paying product.
 The Cobre Grande Copper com pany which started out SO auspiei- ously, has a prospect now of becom- ing entAngled in endless litigation. The announcement was recently made that J. H. Costello had se cured control of two thirds of the stock of the company. It now seems that there was a string attached to it. The Jerome News gives the fol lowing version of the transaction: ''Mr. Mitchell first secured bond on the mine for a certain sum. He then organized the Cobre Grsnde company and proceeded to the de yelopment of the claim. In this work the company naturally got m to debt before returns could be ex- pected. It is said they owed their employees, many of whom were Mexicans, somewhere in the neigL- borhood of $lO,OO0 Needing tbe money and fearing results if matters were delayed, Mir. Mitchell and the other stockholders agreed with MT. Costello that they would put shares of the company's stock, amounting to more than s controlling interest, in the Phenix National Bank in es- crow. to be taken ut by NIT. Costello in three different installmeDts on the deposit of S2.50 per share. NIT. Costello for his part was to assume the indebtedness of the mine to the laborers. The stock was placed m escrow and MT. Costello raised SlO,- OOO and paid of the MeXicans. lie then goes to New York and arranges for the sale of a sufficient number of shares at a greatly advanced price to pay of the $10O00 indebtedness be had assumed and still retain a controlling interest in the mine which cost him practically nothing. Meanwhile Mitchell and associates secured money enough from l.. Ed ward Addicks of New Jersey to pay of the original indebtedness them selves, aud as above noted, have mo- tifed the bank that they have with drawn their shares from the pool in the agreement with NIT. Costello. IL may lead to litigation m which some nice legal points will be brought out.
 The JoURSAL-MINER editor recently visited the Groom creek section and WAS somewhat surprised at the ac- tivity shown in mining there. The district has really been only pros pected on the surface but gives promise, with development, of open ing up some of the richest mines m the county. On account of only having a limited time to spend there, only 8 few properties could be visited while information concerning other properties in particular and the district in general was obtained from the parties visited. The deep est workings in the district are sad to be on the Empire mine owned and being operated by pr. HendIyx. He has sunk to depth of 300 feet and the best ore in the mine has been found at this depth and the vein also shows up stronger there than nearer the surface. Away up towards the summit of Spruce noun tain Charles Behm was found occu- pying a cabin, only recently com pieted on the Uncle Joe mine, and 1 be is preparing to go to work on this property, as well as four or i've other claims in the vicinity in which he ownes an interest. The Uncle ] I b.f, 65 feet dean and has