Weekly Arizona journal-miner., 1904-04-06
REPORT ID THE STOCKHOLDERS
 OF GREAT PECK MINE COMP ASll
Detailed Information Concerning Present Con dition of Property and the Operations
 Covering the Past Year.

and the last 50 feet of water was
 raised in three and half days.
 From the 1st of April the working
 force at the mine will be reduced one
 third, as it is the intention of the manager to turn over the 300 and the
 $50 foot levels to Ieasers, while this
 company prepares to sink its new
 working shaft and establish new ma
 chinery. As fast as new ground is
 opened the leasers will commence
 operations. All three of the veins,
 the Great Peck, the Occident, and
 the Orient, which lay but few feet
 apart, are today operated by leasers.
 The ore extracted sustains the old
 reputation of this property; some of
 the ore is very rich. In fact, so rich,
 that local smelters are reluctant about
 buying the same and suggestions have
 been made that the Peck ore be ship
 ped direct to Fl Paso or Denver. At
 the depth of $50 feet, which is the
 point to which we have succeeded in
 lowering the water, there the vein is
 found to be strong, the walls wide apart and perfect, and ore shows at
 every point of virgin ground. But
 down to the 300 foot level and for a
 distance of about 400 feet along the
 vein, the Peck mine is a she'll to the surface; but virgin ground with
 Aattering ore prospects, shows every
 where outside of this worked area. Just below the 300 foot level a stope
 has been opened that new leasers may
 be employed therein, from which the old foreman of the Peck mine, now employed as a leaser upon the Peck, extracted a great deal of ore that ran nearly S5OO0 per ton. In the imme- diate vicinity of this stope there is virgin ground showing a strong lead. Leasers have applied for this territory and the same have been granted.
 The mine is now fairly we'll equip ped for it's immediate needs, but it will only be short time before more machinery will h-ve to be placed on the property. There are at present two steam hoists on the mine, one on the Peck and the other on the Occi- dent, and aside from the general sur face plant, there is no underground machinery other than the pumping plant. But now that the mine has been exported at the $50 foot level and such a satisfactory showing is made, it is believed that this mine is worthy of the proposed installation of modern and effective appliances; and it is pro- posed during the next year to take up and resume the operations commenced by Hayward and Hobart, shortly after their purchase of the mine, in their determination to properly de- velop the property, and which devel- opment was halted by the sudden in- hux of water and the burning down of the shaft house.
 The Great Peck stamp mill, which cost $50, 900, has been found to be in not as bad state of repair as was anticipated, and we are i'm proving the same at a cost of approxi- mately $500. This mill is one Iof the best of it's kind, and in it, under con- 1itions today, low grade ore can be worked for 8 per ton. The bullion record of this mill has been large and the bars of bullion ran 99 fine. But the richer ores of the Peck mine had best be shipped to smelters, for it is stated in Governor FremOnt's report To the secretary of the interior, that
 in a run of 100 tons of this high grade ore, the tailing loss was practically .36, OOO.
 Of late the market for mining se- surities has been so limited that little effort has been made to dispose of our treasury shares, which are placed be- lore the public as a strictly develop nent investment, and consequently Ire brought in competition with min
 ng stocks of other companies who make greater promises than we can meet. But now that ye have shown that the Peck mine at
 he depth of $50 feet is strong and worthy of effort and every indication points to continuous strength deep ,r down, it is our intention to place iome of our treasury stock at B per ,hare that fund may be obtained to further equip this property and dem lnstrate its ore possibilities and to continue the operation of the mine to
 he full depth of at least 100 feet. In taking this position as to the price )f our stock, we feel justified in the belief that ultimately the profits from
 his mine will prove very remunera- i've, and in placing this value upon ,ur shares we have a basis upon which o speculate as to the ultimate value lf the same. The Great Peck mine is not an unknown property, but it has world wide reputation and has made record of s3, GOO, 900, extracted under 'ery adverse circumstances, and it is consistent today with the result of our ecent developments, to believe that here is still a great future ahead of his mine In fact, the existence of hese three veins, each containing .ieh ore, gives a basis for the expert heOry that there will be an amalga- nation of these veins at 1000 feet in lepth, and while many large sums are ylaced upon the fUtur5 value of the treat Peck property, we do not care ourselves to set any limit of value lpOn this mine or it's shares until an- ,ther years work has been done upon he property, for in the opinion of en- ,ineers, the greatest wealth of this Peek mine will be found lbout 1000 feet deep. Sufficient to ay that the gentlemen who owns a arge control of our stock, has such that he and others have 'oted to waive their righs to profits .or two years, that the mine may be ully equipped and dseloped, eveD with the proceeds of the property that might be termed ~uef nrofts As far