Los Angeles herald., 1905-09-03
DOUGLAS, LACEY G. CO.

DOUGLAS, LACEY 6 co.
- Some Of the most gigantic under
takings. of mine development and oil
production in California and elsewhere
on the Pacific coast are directly the
work of the celebrated firm of Douglas,
Lacey q Co. one of the richest and
of New York city. Some of these in
yestments have been made through
Major ii. M. Russell of Los Angeles,
fairs for this seaboard. 1t has been
due to Major Russells efforts that this
well Known firm of bankers and bro
kers mas been as successful, perhaps,
as any other Investment enterprise do
ing business here. 1t was at his sug-
gestion that Douglas, Lacey & Co. first
became Interested in the great possi-
btlities offered in the development of
the resources of the southwest. Under
his advice and direction the concern
is now engaging in the development
ana operation of large number of
mining and oil properties which extend
from Alaska to Mexico. One of the
greatest of all the enterprises in which
Douglas, Lacey e. Co. are largely inter-
ested in this state is the Union Con
sol1dated OIL company. organized Janu-
ary %, 1901, This concern commenced
work with a capital OF $4,000, 900, and
is now considered the successful COM
petltor of any company doing business
in the west. The Union Consolidated
flrst acquired tract of land in Sespe
wells, the monthly production approx
imating 5000 barrels. Following this
there was organized the Union Consoli-
da dated &c, >, X Reifi4ing +. company, and their
refining constitute one of the largest
industries in this section of the coun-
try. This consolidation marked an
other milestone in the development of
southern California resources, mas
much as 1T was directly responsible for
releasi 1g the people of this section
hn han Of Il at,
bordering on the trust idea. At every
point in the great battle of competition
the Union Consolidated people have met
competition fairly and squarely and
their success has been no less a victory
for the people of the state, who. under
the oppressive methods employed by
the big trust, could not long have en-
dured. And so much to the credit of
Major Russell. Another of the large
enterprises undertaken by Major Rus
sell and those interested with him was
the recent organization of the Alamo
Lower California. A horsepower
plant is now in course of construction
at this point, which is to be operated
by electricity. the power being gener-
ated from fuel gas. This plant is being
built for the purpose of operating diff
which there are four corporations doing
business on a very large scale. The
property owned by Major Russell and
others will be operated entirely by
electric power. The system being in
stalled is known as the Loomis Petit
bone system of gas power, and the
American Corliss gas engines are being
throughout With With Westing 9i ghouse sS"'peeo ejec-
trio machinery. The new mill will have
a capacity of $50 tons per day. The
Alamo Power and Milling company is
separate. and distinct from the other
corporations i'm which Major Russell is
interested. Its organization was per
fected for the purpose of giving the
different mines in the district N nm
tion cheap power and milling. The
new, plant is inclosed in a handsome
steel building, ,5Ox100 feet, which is two
stories in height. The structural work
was done by the LlewelIyns of Los An
geles., and the, building has been com
pleted. The plant will probably be the
finest of it's kind in Mexico. Ma jor
Russell, with his usual progressiven SIS
and the deep interest he feels in the
progress and growth of Los Angeles
has purchased nearly all of the ma
terial for the Mexican plant here. He is
operating a store there for the benefit
of his employees the supplies for which
Notwithstanding that in some instances
he might buy to better advantage else
where. With all of Major Russells
vast holdings he never loses sight of
ment work of Southern California, and
right now he is engaged in building a
railroad from Hueneme to Oxnard
which has been Incorporated under the
name of the Bakersfield & Ventura
Railway company. The line will cover
a territory extending over 125 miles,
land in all California. That it will be
a great benefit to the entire state, and
particularly to those owning property
In the counties through which it passes.
says the new road will be operating
before another year rolls around. A
portion Of the road is already
one of the most conspicuous
figures in the mining. history of the
west. His career and the events which
connection with the splendid results
now achieved, form an interesting
story, too lengthy for detail in this
brief article. They reveal in him the
characteristics of great faith and cour-
age, comprehensive knowledge of the
resourceful nature of the country, deep
properly directed effort, man of great
will power and patience, a typical cap
tain of industry. Major Russell is a
native m of New York s stSte e A At the
in 1868, and thence engaged in the
practical work of. mining. He was in
the .Leadville mining rush in 1873. was
in Gunnison county in 1879, and for a
number of years he mined and pros
pected in various parts of Nevada, Ari-
zona and New Mexico, in all these
of the business by hard work In 1887
Major Russell and associates from Los
Angeles located a large number of gold
mining claims in Alamo camp, Lower
California, and upon these organized
the Aurora Consolidated Gold Mining
company. Among these properties
were the Aurora and Sterling groups of
mines. This is the. first property in
which he interested the firm of Douglas,
Lacey &c Co. Such has been the success
of the, venture. that, the first dividend
paid shortly after the organization, in
january, 1901, amounted to 40 per cent,
and the continued dividends make it an
inyestment of great profit, Major Rus
sell, following the success of this en-
terprise, organized the Yiznaga Mining
company under the auspices of the same
IN, and this, also, is a rich invest
nea+ The Haslemere Mining and Mill
ms 7mpany, organized with capital
Dt 1t' 900, is another of the big en-
rerpr'-eg promoted by Major Russell
rHd his 'ciates. The property is
..aHd ip t's mining district, Kern
ing of sixteen full
h.cn 7cte0d over two miles
.a COURSE Re vein. Work of
.au. A" $50 Aca IS at this point
O. ...lrHin scala Tor Russells
60 Ii,