Arizona republican., 1899-04-15
Mines and Mining

1t is not often that new mining COM
panies make their nominal capital
stock too small The tendency Just
now says the Engineering and Mining
Journal, is to put the figure up 10
point very probably out of all pro-
portion to the property. In Utah, now
ever. there has been recently NUMBER
of interpretations with very small NOM
inaL capital stocks; and this is a cur
ious DEVELOPMENT which we do not re-
member seeing anywhere before The
climax is reached in one which we re-
cord elsewhere this week. This COM
pany has a capital stock of $4,000 only,
but the incorporators evidently IN
tend that there shall still be plenty OF
shares to deal in. The number OF
shares is 500 600, the par value being
one cent each Clearly there is a
chance for everyone to invest here'
but there may be difficulty about pay
ing dividends, if they are earned, TO
small holders.
THE LOST GULCH.
A large teaching plant is about to be
erected i'm Lost Gulch. The Black War
rior copper company is building 6,OOO
feet of track to the site for the leach1ng
plant. Several eastern capitalists nave
lately entered this field, and others are
strongly contemplating heavy invest
ments in copper properties. Oppor-
tunities here are evidently becoming
appreciated, and wide extension OF
the mining industry may be looked Tor
in the early future.-Denver Mining
Review.
HANDLING PROSPECTS.
A ''Prospector'' writing from Nogales
to the Los Angeles Mining Review on
the subject OF introducing capital to
prospects, says: A miner has valu-
able prospect. By this 1 mean a good
sized body of good grade ore; also pos
sessing, viewed from a practical stand
point, many other valuable features,
but which the owner, for lack of means
cannot develop. 1t would be unfair for
him to expect the capitalist to pay him
$25, 900 cash, and equally unfair for
the capitalist to expect the miner to
accept $500 for prospect that bids
fair to prove worth four times, or
more the former figure.
Now if the capitalist wants the prop
erty is it not fair to both parties if he
say to the owner: Give me a develop
ment bond for one year with option to
purchase at an agreed sum. as Gin evil
dence OF good faith I will pay you $500
down, 81 900 in six months, balance in
nine and twelve months" or some
similar proposition which would he
mutually fair The question is, should
the capitalist be willing to mike and
the miner willing to consider such a
proposition.
THE RIDENOUR MINES.
w. H. Ferguson left this morning
for the Ridenour mines in Mohave
county to take charge of them as
superintendent. He was accom-
panied by John S. Mcdonald, who
takes the position of foreman of the
mine. He also sent out two twelve
animal freight teams this morning
with over $1,000 worth of supplies
aboard. After their arrival they
will be employed in freighting ore
from the mine to the railroad. The
teams are owned by T. B. Garter
and Steve Jackson of Walnut Grove
Mr. Ferguson also employed a force OF
sixteen miners and just as rapidly as
possible this number will be increased
as lit is his intention to push the de-
Velopment work on the claims as
rapidly as possible. The claims are al
ready fairly well developed and show
up large bodies CT ore. They art
known as the Grand Canyon group anC
are located north of Aubrey on the
Santa Fe Pacific railroad. The Mohave
Miner of last week says that Conard'!
big pack train passed through King
man Thursday last on its way tt
Ridenour's copper mine, north of the
railroad where it will pack ore to the
railroad from the mine. 1t is expected
that carload a day will be shipped
from the mine to the Pueblo
smelter.-Journal Miner.
MINING NOTES.
Mining interests in Cochise county
are still advancing. Nearly ever.
day brings representatives of eastern
capital to this county looking for cop
per and gold properties. The lattel
part of the year will see many now idl'
properties being opened up.
ID. J. Dwyer, superintendent of thu
Helvetia copper mines now being de
yeloped was here today to arrange tn
shipm, ant of machinery to the camp
Six carloads of machinery were re
ceived during the past twenty days
That sent out today being about thu
last to ibe moved by wagon transpor
tation.
M. H. Twomey left this morning TO
various points in Cochise county Wher
he is interested in mining. He Wi
shortly proceed to Boston where n
will complete arrangements for som
extensive work on the Turquoise
which is located near Pearce.
S. B. Connico, a mining man fro1
Kingman, Ariz., is in Los Angeles.
o.: