Arizona republican., 1902-01-11

eastern SharperS and companies com posed of men who had no standing in the communities where they were sup posed to be operating, but whose real operations were conducted in hand somely fitted up offices, probably in the eastern cities, and the money of in vestors never expended in proper and judicious development of mines of any merit, and in most cases probably none of it was ever put into the ground at all.
 If these Navapai county companies above mentioned have expended on an average of 5000 apiece during the time they have been developing their prop critics it means that $100.0O0 has been put into development work on twenty promising claims in the past few months and probably not dollar Of this money has been wasted or injudi- ciously spent. It means that employ ment has been given to q good many miners. and merchants have had the benefit Of the trade for miners sup plies. provisions, machinery. etc. A hundred two stockholders in each company have invested from $25 to $500 apiece and contributed that much to- ward opening up mines that will prob ably be on dividend paying basis within comparative short time.
 
 for years, in some instances. have been put into circulation and all these little amounts. placed together in one fund. afford the means Of accomplishing good to the community and profit to the in Vestors.
 Over at Jerome is the Venture Hill Mining company. A few men who owned good claims but were without the necessary money to open them up i,,+ tiCn and placed d certain portion of treasury stock on the market for the purpose or raising money to develop the mines. They have driven what is known as the Socrates tunnel in a dis tance of 535 feet at this time and are in an iron and lime formatio which is a cappins over copper deposits in this line of mineral. When they have sunk a winze through this formation and tn sufficient depth there is no question but what a strong ledge of copper bearing ore will be reached.
 The McCabe Extension Gold Mining company. which is operating at Mo Cabe. in Big Bug district. iS an the same line of mineral as the great Me Cabe, Gladstone and other paying mines. They incorporated and through the sale of development stock to both local and eastern investors they have been enabled tO equip the mines with a splendid steam hcistinG plant and have attained depth on their main shaft of over 200 feet.
 Tine Mountain Side Mining company is composed of Clinton, Iowa. men and is under the management of George Upton of the now famous Orc Grandc mine near Wickeaburg. The property is located on Rich Hill, at stanton. and considerable development has been ac- complished by adits. or tunnels, run into that famous mountain. The Iowa people have also erected q stamp mill on a patented claim known as the Lil- Han. and development stock is now on the market in the east to carry on the work of opening mp the claims that compose the group.
 The Leviathan Gold Mining company is composed of Phoenix people. who own the Maximillian group, the loca- tions being on one Of the strongest gold veins in Yavapai county. The outcrop and surface indications, with the val ues that are obtained by SamplinE, give every reason to believe that with sufficient ca pital to develop, these mines will rival the Congress and Octave. and
 indeed they are on the same line of mineral and with even stronger sur face showings. This company also has secured the original Leviathau mine from Mrs. Clark Churchill. and it may be that several hundred people. who will have subscribed to the develop ment stock. will shortly enjoy the fruits of their investments. and that divt- dends will be distributed among quite q number of people. instead of going into the pockets of q handful of c2pi- talists. as is of course the case where a handful of capitalists put up all the
 .1gasa. NsfNN critics on q dividend paying basis.
 The Little Jessie mine, near the Me Cabe. has produced s75O.OO0 in high grade gold ore. yet at this time the Little Jessie Mines company has been incorporated and is offering stock for sale for the purpose of developing other properties in the group. to explore the virgin ground in the old mines. to equip the property with large reduction works so that the immense reserves of low grade ores can be treated at a profit.
 The Empire Extension Gold Mining company owns the ground immedi- ateIy adjoining the now famous EE,- pipe mine Other producers surround the property. but the development work was done on them by companies composed of few men of means-close corporations. The EmDire Extension company has sold enough development stock to purchase and erect q steam hoistiuE plant. buildings and the neces- saTy equipment to do extensive eXplor- ation of the mines. The shaft is finely timbered. double compartment, a splen- did water works has been constructed and road built to the shaft house from the Groom creek road. In the | bottom of the shaft. now down some thing over 100 feet; there is seven feet