New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-04
GREENE GOLD COMPANY PLANS.
Activity in Stock Due to Nearness of Compile
tion of Plant.

Col w C. Greene. who so successfully devel-
oped the Greene Consolidated Copper Company,
making 1t the third largest producer Of copper in
the world and putting II a bi-monthly divi
dend basis. has recently brought out the Greene
Consolidated Gold Company. whose property con-
sists OF series of placer mines covering the bed
and adjacent lands of the Santo Domingo River
in the District of Magdalena, State of Sonora. Mex
leo. The property includes strip OF land fifteen
miles long situated a short distance southwest Of
Cananes where the great mines and reineries of
the Greene Consolidated Copper Company To-
Gated.
The santo Domingo River IS permanent stream.
and is the basin for the drainage OF a region OF
100 miles either side. which region is filed with
mountains of volcanic origin, containing innumera-
BILE gold lodges, and the disintegration of which
through the ages has washed down, cutting out
the bed of the Santo Domingo River in some places
100 feet deep, and thus forming there immense
placer deposits 10 co deep in this bed.
This is the district in which Gems. Miles and
Lawton in 1886 hunted the Apache chief Geronimo.
Here the Spaniards. after the conquest of Mexico,
searched for the gold OF the Aztecs, and from here
the treasures of the Montezumas supposed to
have come. The old Spanish workings and their
houses are still to be the banks of the
Santo Domingo River.
The continued activity in the stock OF the Greene
Consolidated Gold Company last week Is attributa-
Bile to information from the company's mines that
the installation OF their large plants nearing
completion. One-half started up during the last
few days and the remaining half is nearly
completed that it is expected to be running by
December 10.
The plants of the Greene Consolidated Copper
Company and those OF the Greene Consolidated
Gold Company are both controlled and managed by
the same men and the interests and
practical illustrations OF the possibilities Of
cessfuI mining when legitimately conducted by ex-
perienced mining men.
The output OF the Greene Consolidated Copper
Company now has value OF S1.000.01O per month.
with a net profit in excess OF s35o0o0 per month.
With the completion of the plant OF the Greene
Consolidated Gold Company during the coming
month this company will then be treating from
four to six thousand tons of placer gold bearing
gravel per day and with it net profit of least
$4,000 per month at the start is looked for. AL
this is TO be done its capitalization OF S. O000 COO
Treasury stock was sold last March at par-slo
per share-for equipment purposes; about 5000
shares still remaining in the treasury. No more
of this treasury stock will be sold at present,
that already disposed of has furnished all funds
CURED for present needs
The company claims that these placer deposits
can be worked fo- 100 years and not be exhausted
The property of the company is very extensive,
and together with the plant. is entirely paid for.
There is no bonded debt or preferred stock. Not
having been hampered by lack of money, the
pany has been enabled to obtain the lowest cash
prices for its equipment. and has rushed it's de-
velounnert rapidly at the smallest possible cost.
The friends Of the company state that II will be
on a dividend basis in December of this year. after
which time it is believed, dividends will be con-
tinuous.
The directors are all well known capitalists.
practical and successful mining and business nlea.
and every assurance is given that the property is
and will be handled efficiently and econoIni-
caIly by tire same management that has made the
Greene Consolidated Copper what it is to-day
Evening Mall