Arizona weekly journal-miner., 1901-04-10
A PROMISING
 PROPERTY.
A Local Company Organized For the Development of a Prospec- tive Bonanza in the
 Chapparal Country.
Considered Safe Investment by Our Own Citizens, Who Have Al- ready Purchased a Large
 Amount of the Stock.

 prosperous than at the present time, and the outlook for increased pros perity never brighter than at present. Outside capital is not only being at tracted for investment, but local cap ital, so far as available. is also seeking investment in mines. A notable in terest of the latter on a large scale is instanced in the operations of F. NJ. Murphy and E. B. Gage of the Con gress mine, who have recently taken bonds and options on a large number of promising claims, which they are actively engaged in developing. Nu merous other instances on a smaller scale could be cited of individual efforts along this line with the most satisfactory results.
 The greatest profits obtained from mining is in the making of mine taking prospect or partially devel- oped mine of promise, and with favor able surroundings, and by opening it up, develop it into a dividend paying property. Of course there is no fixed standard of returns obtained in this operation, but under reasonably favor able conditions the expenditure of every dollar in the development of a mine should be returned from ten to twenty fold. In many cases that can be cited in this section the proportion of increase has been much greater.
 A notable instance of this is that of a property located about eighteen or twenty miles from Prescott, in a prac- tically new and unproven district, with no developed mine nearer than ten or a dozen miles, which, as a pros pect, was bonded about year ago for S30,000, and on which since from S30,- 900 to S50,000 in the way of develop ment work has been expended, and to- day the property could not be bought for less than S1, 100000, if, indeed, that figure wuld be any temptation to its present owners.
 About seventeen years ago the United Verde was sold for less than S30,000, and is now producing over S1,000.000 per month, while S100,000,- 900 would be considered low value of it estimated by its yearly produc ton.
 "A company, composed entirely of citizens of this county, has recently been organized for the development of a property, the conditions for the success of which is extremely favora- ble. It is not claimed or expected by them that they will be able to make another United Verde mine, as up to the present writing there is only one United Verde mine in the world, and while other great mines are being made, the present generation can scarcely hope for its equal. From surface indications, though, as well as from development in adjacent claims, and they are all that mining man can count on, the prospects for sue cess are certainly very fattering for large returns on the amount required for its development.
 The company referred to is the Me Cabe Extension Mining and Milling company, the incorporators being such well known citizens as Dennis A. Burke, ex county treasurer, former member of the legislature, and one of the proprietors of Hotel Burke; Reese NJ. Ling, district attorney; J. P. Dill lon, ex-county assessor; E. G. Wager, a mining man of years of experience, over twenty of them being in this county; J. H. Robinson, clerk of the board of supervisors and a native of this county; D. c. Wood, also well known mining man; Dr. c. W. Woods, the well known physician of Jerome, and J. L. Munds, sheriff of Yavapai county.
 The company is incorporated under the laws of the territory of Arizona, and the stock is on-assessable. The capital stock has been placed at Sl,- 500,000. Of this one-half has been placed in the treasury for sale to pro cure the necessary capital for devel- opment, although it is hoped that it may not be necessary to dispose of more than 100000, or, at the most, 100000 shares, until development has reached a stage when the proceeds of the mine will not only pay all expenses of development, but provide means for the erection of suitable plant for the reduction of the ores. Should their anticipations in this respect be realized, it would result in a decrease of the capitalization, and consequent increase in the values of its shares, in addition to the natural appreciation produced by development.
 The management proposes to con duct the business on strictly business principles and on legitimate mining lines, and no better evidence of the confidence reposed in their integrity in this respect, as well as the faith in the ultimate value of the property, when developed, can be adduced than the fact that they have already dis posed of several thousand shares among our citizens and business men, as high as 5000 shares being taken by a single individual as a business in vestment. This, too, at time when our citizens have not recovered from the effects of the big fire last July. Had it not been for that fire it is safe to say that at least 5000 shares, or probably more, could be disposed among the neighbors of the incoIpor- ators; and this, too, in face of the fact that no more conservative or careful business men can be found anywhere than right here in Prescott.
 That the elements of chance exist, more or less, in mining business must be admitted, but in what business does it not? in this instance it Is reduced to the minimum, as will be seen by a description of the property and its surroundings. The claims owned by the company, three iii number the Henry Clay, George Washington and Blind Girl-are located in Big Rug mining distr.ct, district which ha: nearly a score of mines, more or les: prominent, for their production, ana which is recognized as one of thu highly mineralized districts of tin, county. It i5 located on the sam, ledge or vein as the celebrated Mc rCabe mine, whicn has produced oveI e1. .000,0O0 within the past ten years
 land with probably that much now il