Arizona weekly journal-miner., 1901-10-09

Tuesday another rich strike was made at Gro Grande. This time or the extension of the Gro Grande and several hundred feet to the north and up the mountain. The strike was made in the tunnel now in about twenty-five feet and the ore being oi the same character as the wonderful body of ore on the 100 foot level ol the main shaft. Samples taken out from the face of the tunnel Tuesday banned about S100, and Mir. Upton exhibited some very handsome speci- mems of that ore that can be dupli- eated in the main workings,-Wi enburg News Herald.
 The new shaft being sunk on the Tombstone mines has attained a depth of about 450 feet and is being sunk as rapidly as three eight-hom shifts can make their way to the GOV eted goal-the 600 foot level, where water will be encountered and the ore body penetrated. When the water shall have been reached stations will be cut out at intervals of 100 feet and system of pumps installed, after which the mine may be said to have been opened up; systematic ex- ploitation will be inauguarated and a large force of men employed. The boiler, mammoth piece of machin- cry, of 500 horse power, and weighing 45,OO0 pounds, has been ordered and will be on the ground in the near flu ture. The pumps that have been specially constructed for this work two in number a capacity of HOO gallons per minute. There are two station pumps of a capacity of $50 gallons per minute each, five sink ing pumps of a normal capacity of 600 gallons per minute with capa- bility of being pushed up to 1000 gallons per minute. The station pump is triple expansion condensing, and is the most powerful yet brought into this territory.
 Senator Clark still adheres to the belief that it is not the evidence ol wisdom to declare dividends too large and too often. During the first six months of last year the United Verde Copper Co. of Arizona paid semi monthly dividends of 50 cents per share. That was pretty good, yet it hardly seemed prOportiOnate to the reputation of So great property The semi-monthly dividend was thereupon raised to 75 cents a share and continued at that rate during the second six months of last year. As there are 300,000 shares of capital stock, that meant a disbursement al the rate of S5,4OO,000 a year in divi. dends. But at a meeting of the di rectors last December it was decided to confine the dividends to 75 cents 8 month instead of two dividends . month of D cents. That is the amount the company has been paying in monthly dividends since last Janu ary, cutting down the amount from S5,4OO,OO0 to S2,700,0O0 a year. Il any one has the temerity to ask, why has the United Verde Go. done this the only possible answer will be: GC and ask Senator Clark. After all there can be no question but that Senator Clark has acted as he con sidered best; there were other inter ests to take care of. The United Verde, as a tOtaliiy, is practically all his own; if therefore. he has chosen tC make the dividends 75 cents a month per share instead of 75 cents semi monthly, he is rakinS the greatest personal sacrifice; in the meantime other stockholders may possess theil souls in patience in the full belle. that what is denied them now will bt made up to them in full measure hereafter. All that Senator Clark is doing is to lay up a lot of cash, wbicl he may call upon in railroad emer gency-Ex.