The Butte inter mountain., 1903-01-10
CANON CITY AND FLOR
ENCE MINING COMPANY
Colorado Men Will incorporate Under
the Laws Of Arizona a Half-MIion
Dollar Concern, 1t Is Said.

Florence, Colo, Jan. Io.-The Canon
City and Florence Mining company, com
posed OF men of the above two named
towns, has elected the following officers
for the next year: l.. Y. Kahman, presi-
dent; X. l.. Eldred, judge of Fremont
county vice-president; A. II. Davis, sec
retary and treasurer, and A. A. Ireland.
manager and superintendent The follow
ing directors were also chosen: l.. X.
Kahman, NJ. l.. Lewis, A. A. Ireland. X.
l.. Eldred and A. II. Davis.
Since the election of the new officers
and board OF directors the company has
decided to incorporate in the sum of $780,
600 under the laws Of Arizona, the most
OF the companys properties being in the
southwest. Ten thousand shares Of stock
viii be divided among the members of
the company at 10 cents a share. This
money viii be spent in developing the
Arizona mines, known as the Canon City
and Gold Nugget. The ore is richer in
the hrst named property, it running from
$40 to 5000 per ton, although more work
has been executed on the Gold Nugget,
the vein on which is a true fssure. we'll
defined and solid walls.
At the point Of discovery there was
four-inch vein of ore, which at a depth
of twenty-cght feet widened out TO
eighteen inches and assayed from S6s TO
$I75. The same character Of ore has been
disposed in other openings along the
vein, which is said to prove that the
company has a genuine mine OF great
value.
Notwithstanding that the ore body in
the Canon City property has not been
uncovered to any great extent, the min
cral is there and the company will soon
have ample means for further operations.
Both Of the properties carry free gold
and sulphdc ores. Among other mines
owned by this company is one in Old
Mexico for which patent papers will soon
arrive.
The year in the oil field starts out
under the most flattering prospects. Thus
far in the year two very good wells
have been brought in, one by the United
Oil company and the other by the Flor
ence Oil company. AS soon as the pumps
are applied the capacity of each well will
be determined. The United's we'll is
near the Highland cemetery and was
drilled in ground in which this company
many times before set down drills, but,
being unsuccessful, concluded that the
ground was not underlad with petrol
cum, so closed drilling there until the
present, when oil was struck,
The existence of the fluid there proves
the oft-madc statement that the Florence
field has not nearly been prospected, let
alone being developed, SO by sending the
drills near China good oil zone was
tapped. The well of the Florence Con-
solidated Oil company of Cripple Creek
and Florence is expected to be in oil
before the end OF next week. Contractor
Erwin says the oil indications are the
very best The Keystone Oil company,
also a Cripple Creek and Florence con
Germ, has about completed arrangements
for the erection of another derrick and
the drilling Of another we'll.
The gold output for 1909 was ST., ,3oa, $50.
This production will be largely increased
during the coming year. In the first place
the New Monarch will be heavy pro-
ducer of gold ores, while the Resurrection,
which has large deposits of grade
gold material opened up, will also add
materially to the output, now that its
mill is nearly completed. The starting
up this week of the Dolly d. means an
additional tonnage of gold-bearing ma
terial, while the Diamond and several
other properties, including the Gold Basin
and the Forest City, should be heard from
more extensively than last year. Another
property that should add materially to
the gold production is the Ballard, as the
new mill is about completed, and If, as
believed, this cyanide mill handles the
lowgrade gold-bearing material of that
property fine gold concentrate will be
furnished that will assist in running I'D
the gold values.
In looking for additional tonnage max
ers the fact must not be overlooked that
now that the Colorado Fuel & Iron
trouble is over that the steel works at
Pueblo, with their increased capacity, will
be in the market for manganese. Good
manganese will net the miner So a ton,
and there is lots of good manganese iron
disclosed. The bodies in the Catalpa, the
Caribou, the Sixth Street and a few other
downtown properties can furnish a very
nice tonnage, while there are large de-
posits like that in the Cloud City property
which only have to be developed in order
to make steady producers
With the new mills that have been
eddcd during the past five months, like
the Resurrection, the A. Y. and Minnie
and the Ballard, there can be no question
as to the likelihood of increased produc-
tion of low-grade ores. Mining men are
aware of the fact that there Is way TO
handle the low-grade sulphide and siici-
Gus material successfully, and they are
finding out more and more every day how
to handle it.