Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1903-02-07
Mines and Minerals
Of Arizona
RECENT MINING DEAL
Mineral Belt Mine Sold to a Newly
Formed Company.
ACKNOWLEDGEMENTS.

A deal recently consummated. and in
fact but just announced locally marks
a notable success for one of the sew
eral companies organized for purely de-
velopment purposes in the exploitation
of Arizona mining prospects. The Ari-
iona Development Company is an or
ganization of capitalists. mostly resi-
dents of Philadelphia. but under the
management Of DR.. o. L. Geer of Mar
tinez, Arizona, a few miles from the
famous Congress mine. 1t was the pur-
rose OF the company, and it has been
steadfastly adhered to during the two
years or more OF its life. to furnish
its MANAGE sufficient money to develop
various prospects with the ultimate
idea not OF operating properties itself,
but of proving them and selling them
20 others who wanted promising prop
critics. Money was spent quite liberaiy
therefore on Il half dozen or more pros
poets which the company secured. ana
several Of them have shown up wei.
One group is known as the Mineral Bet
ard lies in the southeastern part o.
Yuma county. After spending S25.O
in its development it has been pro
nounced a proved mine and sold to i
company organized for its purchase.
known as the Harqua Hala Mining ana
Milling company, for $3.50 900. a profit
OF over 100000 is therefore available
for the development Of it's otner mold
ings, on some of which ii very reason
ably hopes to achieve similar successes
The new owners OF the Mineral Belt,
the Harqua Hala NJ. & NJ. Co. are
largely share owners also in the deveI-
Cpment company, but others are inter
ested with them and the company Is Il
separate and distinct organiza ton. DR.
Gcer is q stOCkholder, and is retained
as manager of the new company also
Sufficient stock has been subscribed to
equip the mine with a twenty-five
stamp mill and continue its develop
ment The deeds have been recorded,
and IL is expected that the construction
of the mill will be entered upon within
thirty days. The property is on the
desert n long distance from the rail-
road, Congress being the nearest point.
But recently there has been much talk
Of a branch Of the S. =. z. K 2. through
that section. Should assurance be re-
ceived that a road will be built there
within six months. cheaper rreignts
would be an incentive for the company
TO wait before beginning mill ccnstruc-
ton. The company claims to have 2CO-
GOO tons of ore in sight, $1,000 tons or
which have been sampled, going better
than s25.
Another property owned by the De
velopment company is the Squaw nine
in this county. about eight miles this
side OF Mineral Belt shaft was re-
Gently sunk 100 feet deep upon it and
. crosscut run into the dixie or ore lode
a distance OF 60 feet. An engineer has
reported that this dixie is at least 500
1 feet wide. Within it are various lodges
Of high grade ore Of various widths
The Arizona Gold Company OF Mar
tinez. Arizona. IS another one that DR..
; Geer has recently formed, as an enter
prise Of his own, though he has asso-
ciated with HIM several well known
and reputable Arizona mining and bust
/ ness men as directors of his company.
namely J. c. Herndon, Charles O.
| Matthews. NJ. G. Burns, w. A. Clark
and George II. Cook. The company
owns the Oregon and Gilt Edge groups
/ Of claims in the same section described
| above. in the northwest corner OF this
county. The company is capitalized for
a million and a half. two-thirds of the
stock being in the treasury. Sufficient
of it has been placed to insure system
/ atic development.