Weekly Arizona journal-miner., 1904-09-14
4 MINING DEAL
 CONSUMMATED In St. Louis for 0ri-
 ental Group.
Two Million Dollar Corporation Takes Over Property and
 Will Develop It.

St. Louis, Mo-, Sept. 8.-(Specia Correspondence. "A mining deal ha! just been negotiated in St. Louis by which the Oriental group of copper mines, located in the Cave Creek dis trict, north of Phoenix, became the property of the Oriental Copper com pany, of Arizona, at the head oi which is N. M Clemons, of St. Louis, a brother-in-law of Howard Gould, the New York millionaire rail road man. Associated with MT. Clemons, are other capitalists of St. Louis and Arizona, among the Ari- zona men being Emil Gang and W. T. Smith, of Phoenix.
 The Oriental group, which consists of eleven claims and a mill site, was located by A. s. Mills, of Arizona, and by him sold to the company for handsome cash consideration and a goodly sized block of stock. The deal, which has been pending for sev- eral months, was presented for Mir. Mills by T. J. Wolfey, formerly of Arizona, but now with the Globe Democrat, of this city.
 The Oriental Copper company, of Arizona, is capitalized at S2,OO0, 900, fully paid and all subscribed. It is likely, however, that most of the stock will be placed in the treasury to be sold to investors who may desire to become identified with the prop erty. Ample funds, though, are in hand to fully develop the Oriental mines and erect smelters. It is the purpose of the company to make of the property one Of the great copper producers of the world, the engineers s report npon which the sale was made showing that there is Sl,0O0, 900 worth of copper ore in sight with a reason able prospect of many times as much in the lower depths. Work will begin at once.
 Articles of incorporation will be filed in Phoenix this week. A signifi- crant clause in the articles is one pro- viding for the construction, equip ment and operation of railroads and the location of town sites. Consider ing the personnel of the Oriental Cop per company this may mean that an- other great railway system is prepal- ing to compete for the growing busi- ness of Arizona.
 At a meeting held in Missouri Pacific building the following Board of Directors was elected: N. M. Clemons, Emil Gang, W. T. Smith. E. B. Lane, s. P. Weller, F. W. Ireland, Hon. Sim T. Price, T. J. Wolfiey and A. s. Mills.
 The board elected officers as fol- lows: N. M. Clemons, president; E. B. Lane, first vice president; Emil Gang, second vice president; T. J. Wolfey, secretary and treasurer; Hon. Sim T. Price, general counsel for; A. s. Mills, superintendent.
 Besides those named, Geo. O. Rogers of Geo. O. Rogers & Co.,, the we'll known bond and stock firm of St. Louis, is heavily interested in the enterprise. E. B. Lane, the first vice president is assistant general freight agent ot the Missouri Pacific railway and F. w. Ireland is secretary of the same system, while S. P. Weller for a long time occupied a confidential position with the Missouri Pacific road. Hon. Sim T. Price, the general counsellor, is a corporation lawyer, we'll known throughout the Missis- sippi valley, but a man whose name in St. Louis is a synonym of honesty. 1 The other directors are we'll known to l the people of Arizona. The main office will be located in l Phoenix, but there will be a branch l office in St. Louis. Other branches may later be established in Chicago, | New York, Boston and Berlin.