The copper era., 1901-03-14

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was we'll pleased, bat his company di-
rected him 20 examine other proper
ties in the interior of Mexico, which
were most favorably spoken of. Mr..
Riordan complied with the request,
and afterwards examined number of
other properties in various regions Of
the west. ana finally came to the con-
clusion tina; the property offered at
Clifton possessed more merit and offer
ed a safer guarantee for the invest
ment of money than any other section
he had found in all of his travels. In
November of last year he returned TO
Clifton with several noted mining eX-
perts who were busily engaged from
that time until last week in making II
thorough examination and report upon
the property. All reports have been OF
the most favorable character and while
as before stated, but few OF the prop
critics have been developed TO any con-
siderable extent, all are in the mineral
zone, and all show more or less ore.
From the Stevens and Mexican groups
IA considerable amount OF good ore has
been shipped in years past. and several
Of the other properties can be said TO
have passed the stage of uncertainty
and give every indication of opening
up into big mines by sufficient develop
ment.
Some two months ago Mr.. Riordan
was joined by Arson w. Burchard, the
fiscal agent OF the company, who had
power to close the deal. Mr.. Burchard
is not mining man, but is said to be
one of the best financiers and business
men in New York, and while he had
every confidence in the corps of experts
who did their work in thorough and
business-like manner and also in Mr..
and through all the details of the pro.
posed transaction with painstaking
care. after which he announced his
Willingness to close with the owners OF
the property. On Wednesday of last
week the papers were drawn and the
first payment made on the property,
which consists Of the Stevens group OF
% claims, the San Jose, or Alex Nc
Lean group of 26 claims, the Porter,
Wright and Simpson group of 20
claims, and the Mexican group of 1
claims, Owued by l.. Fraisset of New
Hurk. The eXactamount ofthe con-
sideration is not obtainable at the
present time, but is known to be very
close to a quarter of a million dollars.
A large number of citizens are inter
ested in the various groups mentioned
besides those whose names appear
above, but SO far the reporter has been
unable TO secure a full list of them.
The Stevens brothers, |. n. and Chas.
l., and their sister. Mrs. Ramsdell
are the principal owners of the first
group mentioned. They are the orig
inal locators of the property, and from
one OF the claims took out about 100000
worth of ore in the development of the
property. Ben Crawford. Adolph
Young, J. F. Niccolls, Joe McQuary
Apalletto Ascarratti, Manuel Estrada
and number of others also came in
for good sized share Of the total con-
sideration. Messrs. Young and Mic
coils grouped the property, secured the
options on Il part of the property, and
were instrumental in closing the deal,
So far no statements for publication
have been made by Mr.. Riordan or his
associates as to the intentions of the
new owners OF the property, but it is
understood that within short time
the development of the property will
be commenced and pushed with energy.
1t is also understood that the company
VII use only the latest electrical de-
vices and machinery in their mines,
and that rs soon as ore bodies OF suffi-
cient dimensions are uncovered "a plant
will be erected at some point on the
river which will be connected with the
mines by an electrical railroad. If the
plans as suggested To the writer are
carried out it is quite possible that
this new company will spend at least
81, 000.000 in this district within the
next eighteen months. The great
wealth OF the company, added to the
fact that it is one of the largest, If not
the largest, consumers OF copper in the
world, justifies the public in expecting
much. The further fact that the COM
pauy is now paying IL cents per pound
for copper which it can produce from
its own mines and plants at a cost not
to exceed : or cents per pound is also
most convincing reason why the COM
pany will push the development OF its
property with all possible speed.
The fact that this company, backed
by capitalization of 5000, 900, after
searching the continent for mines,
finally located at Clifton. is the bigges-..
possible adyertisemeesss Tor The district.
and indirectly, as we'll as directly, will
be the m, ans OF adding gre, ter pros
perity to L Is section OF tie wost.
For the past few years this district
has ranked third in the output of cop
per in the territory, but it will soon
take second place. and within a few
years it will not only rank first in Ari-
iona, but also first in America and the
world.
News from New York says litigation
in Montana may reduce the output of
copper materially for some time to
rot hot h.af =