Arizona weekly journal-miner., 1901-10-30
MINES AND MINING.

coke.
 There was a great deal of excite
 ment in Jerome yesterday over |;
 large chunk of native copper brough
 in by Fred Waldun from his claim
 abought eight miles west of Jerome
 the mineral was taken out at a deptf
 of about sixty feet.
 The Penn Gold Mining compan,
 has machinery on the ground at Lynl
 creek for their their third Huntington
 mill and will have it in place soon
 when they will have a crushing capa
 city of 120 tons of ore per day. II
 addition to the mill they are also in
 stalling a new boiler and new hois
 and are sinking a new working shaft
 which is now down so feet. Tn,
 Penn company has scored a greaf
 success in their mining operations or
 Lynx creek as well as in other parts of the county. They have gone about
 the work in a thoroughly systematic
 business manner, and with a persis tency and energy, which coupled with good judgment is bound to succeed.
 The Henrietta Extension company in the Big Bug district has gotten its business shaped up so that a small force of men have been put to work developing the mine. The shaft is seventeen feet deep now and good body of ore has already been en- countered at that depth. The mem bers of the company have great faith in the success of the enterprise.
 The Merchants Mining company is meeting with a ready sale for its stock. Applications are coming right along from the east for stock in good sized blocks. This company has a mine to start in with, while capital is needed for further development of the property.
 The Old Dominion company of Globe is experimenting with oil for fuel. They will make a thirty days test and if satisfactory, will use it al together. Many of the mining com panies of Arizona are now usIug oil for fuel, and some of them have been using it for year or more, with most satisfactory results. and at a great saving in expense. Cheap fuel means cheaper mining and and larger divi- dends. From present indications it is only question of a few years at the farthest, until all of the com panies in the territory will be using oil for fuel.
 Olaver Augdahl, the well known mining man of Planet, arrived in Kingman Thursday last from Pres colt, accompanied by Oscar H. Knox and E. H. Webb, two mining men. Mir. Augdahl departed for the south yesterday and Messrs. Webb and Knox will follow within a few days. These gentlemen have entered into an agreement with Mir. Augdahl for the purchase of his Planet copper mines and already have two hoisting plants on the way, which will be in stalled on the property. The Planet mines are among the big copper prop critics of the Bill Williams Fork coun- try.-Mohave Miner.
 The Benson Press, of Cochise county, comes to the front with the following: There is a farmer in this county who raised a good crop de- spite the severe drouth early in the summer. He says the way he did it was that he planted potatoes, corn and onions together, and the strength of the onions brought tears to the eyes of the potatoes in such quanti ties that the ground was kept moist and big crop was raised. We never thought Sam Stanton would tell such Stories.
 The property formerly owned by the Jerome Copper company-the Winningham group - has finally passed under the control of Mir. Hull, who had a mortgage on the property and took it by foreclosure. To fur ther explore the property he organ ized the Cleopatra Mining company, who, with the complete power plant for mining, is in an excellent position to develop the property rapidly and without any delay in getting in drills, etc. The treatment accorded old stockholders of the Jerome Copper company by MT. Hull is more liberal than any we know of yet accorded stockholders of defunct concerns. To those who had invested heavily in the Jerome stock he let in the new organization by their assuming an ob- ligation to pay him their proportion of the mortgage. This made the new stock to Jerome Copper company cheap, the price being only fraction of that paid by the new investors. Such liberal treatment in affairs of business is one of the reasons why c.. W. Bull numbers so many his friends.-Reporter.
 Capital will not take the initiative in seeking investment of any kind-it must be persuaded of the possibility of returns. The promoter of what soever enterprise will make great mistake if he plans on money coming to him upon the announcement of his undertaking. The Northwestern Mining News says that it means hard work and it means intelligent work to secure capital. The men who pos sess money are not fools, nor are they willing to hand over their funds for investment without some idea of getting good interest. Further than this, capital is timid until assured of the safety of an investment, but once interested and convinced of the pros poets of good returns, it will go to the end. \ great many promoters, and especially of mining enterprises, make mistakes by trying to get money before convincing possessors of capital of the possibility of the pro ject. If you can convince men of money that they can make money by taking hold of your scheme, you may rest assured they will be willing to do it-for there is no man who likes to make money more than one who has made it. Nor is it neces- sary that the promoter have capital himself. If he has an intelli- gent idea of how money can make money he can find some one who will listen to him. And there are two ways of promoting one to interest ca anital fOr a reasonable consideration