The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-28

maps across the entire property, is nov
projected by the Old Colony manage
ment. This tunnel will be a great thing
for the Mayfower as well as the Ole
Colony, as from 1t the best points at
which TO Iocate Shafts on the Mayfow-
er can be quite accurately determined.
President Fay has great faith in the Old
Colony and Mayflower properties
/ There is considerable Mahala mining
stock heresbouts and the latest from
| the property give promise of dividends
before long. The company sunk a
winze from the second level TO a large
ore body below, which is now being
worked. The winZe Will be connected
with shaft from the surface that will
be double compartment and greatly
facilitate and cheaper the expense az
hoisting the ore. An upraise from the
new ore has penetrated the old body
OF ore from beyond the cave-in of a
year ago. and rock is being taken out
from that again. The new ore body
has been penetrated with diamond
drills and shows width of at least
10 feet, and depth OF 120 feet. 1t
runs diagonally across the property
ABOUT 300 feet On a conservative es-
body.
The old Phoenix copper mine in
heWeenan Co, Mich, is to be revived
me mine was first opened in 1874. and
the company was reorganized several
.Iines The stock has sold as high az
slE.Vv ana as low as 80 cents per share
assessments aggregating 1891, 800 have
oeen levied. Although a large AMOUNT
OF copper was taken from the mine. on
1877. f-'''VV' AZ
Supt Howard of Fortuna writes that
ne expects to be able to put the mines
on q permanent dividend basis bv JuIy
a adl tnat the mines should produce SOS. :
Voo per month net, with the 20 stamns
running fun time This, he SAYS. will
ADMIT OF dividends at the rate of 5 per
cent quarterly and carry S100, 900 per
ahhum 10 surplus account. Action on
me company's application 10 list the
pected be taken this week.
Albany, y. Y, March 27.-The Amer
lean Telephone and Telegraph Compa-
ny Oh New York city today certified to
me secretary of state an increase of its
capital stock from So, 900. 900 to s75. 900 :
VOU. The amount of cash actually maid
IN is 100000, and the debts and Iiabil-
itles amount to 1902 1856. The certificates
u JOlAii 11uQSOQ. { w
Amory, Henry S. Howe. Melville Es-
lesion and Edward ]. Hall, directors Of
the company.
New York, March 27.-The 4. &
Castlron Pipe Company has completed
It's organization, and the company has
formally assumed control of its prom
critics. The company is capitalized for
tSO,OOO,OOO, equally divided between
common and preferred stock. Col.
Gates Hoyt represents the Rockefeller
interests, who are among the largest
stockholders. The following officers
have been elected; President, A. a
Overholt; vice president, A. F, Gala
han; secretary, B. F. Haughan; treas
urer, George B. Hayes. President
Overholt is chairman Of the National
Foundry and Pipe Works, limited
Scottdale, Pa Mr.. Callahan has for
many years been connected with the
management of Dennis, Long & Co,
Louisville.
New York, March 27.-The coasolida-
ton OF Clay Sewer Pipe COMPANIES.
embracing important interests in Ohio.
Pennsylvania and New York, was to-
day contaminated. It involves a. pur-
chase OF over fifty plants owing their
own clay beds. The amount of money
connected with the deal is about $40
900, 900. Over so per cent has been I'M
derwritten by the local interests of the
various plants.