The copper era., 1901-09-26
MINES AND MINING.

and Tuesday in town on business for his company. MT. Molder and N. L. | Jenkins were the original locators of 1 twenty-one claims about two miles | from Morenci and one mile from Eagle creek. These claims are joined by properties Of both the Arizona and De-
 troit Mining companies, and are most favorably situated. For the purpose of
 assisting the development of the prop erty, The Home Copper company
 was organized few months ago, with
 the following officers: John VeltOn,
 president; Dr. Tuthill, vice president;
 R. H. Waugh, secretary and treasurer; and F. O. Garrett, De Loeb and \. L.. Jenkins, with the president and vice
 president as directors. The company
 was incorporated with a capital stock of s5OO,OOO, with shares at Sl.00
 Two hundred and fifty thousand shares
 were put in the treasury for develop ment purposes and like amount was turned over to the former owners Of the property in payment in full there fore. Thirty thousand shares were put on the market and at once taken by Morenci people. The money re- ceived from the sale of this stock has been used in developing the property, and it is doubtful if-a,Setter showing can be made on any gr9up in the dis trict. All of the claims show ore, but most of the money has been expended on the Hobson, Peacock and Game Cock. The Hobson has a tunnel in l35 feet. a shaft down 59 feet, crosscut 30 feet and winze feet. The cross cut shows 20 foot ledge of ore, some of which assays g per cent in copper. The Peacock has shaft 160 feet deep, a crosscut 45 feet at the 115 foot level. Much open work has also been done on the surface of the Peacock. The bot tom of the shaft is in ledge matter, with frequent stringers all the way down of glance, assaying from 4 to 50 per cent copper, s2 in gold and s14 in silver. The ground is soft and Mir. MOlder expects to soon cut large body of rich ore. In doing development amount of ore has been taken out which will run 40 per cent in copper. This ore occurs in stringers which will surely lead to large bodies of rich ore if followed down. The Rumble Bee and the Strayhorse are also showing we'll for the amount of work done on them. The Home com pany is we'll named, as it is composed of home people, all of whom have every confidence in the property, and also in its management. Every dollar of money received from the sale l of treasury stock goes into the develop ment of the property. The superin- MT. Molder, has refused to ac- cept pay for his services. The com pany expects to soon place block of lO,O0O shares of treasury stock on the 1 market at 50 cents per share. after cents. The amount Of treasury stock | 1n hand is 200, ,000 shares which will be ample to develop the property and also to build mill on Eagle Creek, where the company has mill-site. with plen- ty of water for all purposes. This com pany deserves the encouragement of | home people as it certainly has most 1 property. and is under con- :ervative and honest management. Mr. Garrett, one of the directors of the company, will leave this week on d visit to his old home, where he will 1 give few of his friends the chance to cone in on an equal footing with the ] home people. Mir. Garrett is a reliable | and will make only con- statements in regard to the | 
 The Fl Paso Industrial Record shows | ! most remarkable degree of stupidity | in the following:
 The Phelps Dodge people have given it out that they do not intend to build | a shelter at Fl Paso or near Fl Paso. | Then, will they please state for what possible reason they are building their !
 
 railway business, as they have repeat | edly announced. With little reason able thought one can see that these i people do intend to build shelter | here, and possibly a refining plant also l for the manufacture of copper wire, etc. ! When the company was asking for right of way through Fl Paso, its rep through the public press, stated that they were going to spend several hundred thousand dollars in Fl Paso. What on, if not smelter and 
 Phelps-Dodge X Co. are building a railroad into Fl Paso because it gives them direct connection with all Of the trunk lines of the Southwest. They are building railroads only to protect their business of mining. Their smelt ing and refining plant will be located at the new town of Douglas, where d great abundance of pure water has been secured. and where there is ample room not only for smelting plant, but for all other purposes as we'll. Will the Record please tell us why Phelps bod ge & Co. should haul ores and concentrates to Fl Paso for smelting when they have such favorable location for works of that kind within sight of their mines?
 Gaileyyille, the old camp to the southwest of here. which has been