Arizona republican., 1905-03-03

may be, by the fact that the guaranteeing or bond issuing com pany. the company that already has the accumulated guarantee resources, has previously given the mine, stock and management the most careful in spection that it in turn may not be | taking an unbusiness-like chance. Tn other words the guarantee company makes an inspection more thorough than the average investor could do, and does so at considerable expense, that it, having a recognized financial standing, may stand between the in- vestor and any otherwise possible loss. That, briefly, is the plan upon which the Climax Mining company is now of fering 5O,000 shares of its treasury stock for sale at par in blocks of not less than fifty shares, each fifty shares being backed by a gold bond of the Granite Securities Co.,. of Los An geles, and the bonds of which company are secured by the full paid certificates of the Realty Syndicate whose assets are over S11.00O.0 900. The investor in the Climax company's stock has some thing more than a prospect on which to base his hopes for the mining com pany has an enterprise sufficiently ad- vanced to have a demonstrated value; or something tangible for the guaran- tee company to base its faith upon.
 The property is situated in the Has sayampa mining district, fourteen miles southwest of Prescott and con- sists of twelve claims on which much exploration work has been done re- sulting in the development of good ore bodies and the demonstration of the existence of still other ore bodies of great value. There is a we'll equipped mill and camp buildings upon the ground and the mill since September 1904. has paid running expenses of the property and for the installation of some new machinery, the proceeds having exceeded over $9,0OO in that time. There is everything on the ground in point of equipment, for sue cessful and continued operation and what is needed now is more extensive development. It is for this purpose the company is issuing this block of stock. which is one-fourth of the 2O0,0O0 shares of first preferred stock in the treasury. Not to exceed five per cent of this stock has been thus for sold, including valid outstanding contracts for sale of stock, so it is virtually the beginning of the enterprise. The prop erty is entirely free from debt and the proceeds of all sales are to be used in the development, increase and better ment of the property. There is also in the treasury, of the 1,5O0, 900 shares of the total capitalization, 25O,OO0 shares of second preferred and 550,0O shares of common stock, making an entire treasury reserve of a mill lion shares.
 For the details of the development on the property to date, its geology,
 
 investors should send to the company's officers for prospectus and literature giving full account together with maps, cross section diagrams and photo graphic view of the camp buildings and mill. That there is something to show is evidenced by the mint certif- cates showing the production of 5000 in gold since last September.
 The president and general manager of the Climax company is Lewis Wolf ley, for many years resident of Ari- zona and formerly governor of the ter rftory. Mining has been his principal business and he is favorably known among mining men of the southwest. Phoenix has been his home for long time, though his business headquarters are now the company's office at Pres-- colt. The vice president is Ray Hill OL ACoCObls Ol NIlC f1lll ware Go. The secretary and treasurer is M. E. Spaulding, formerly Phoenix banker, and other directors are E. $. Wright, treasurer of Yavapai county; R. A. Talbot, painter, and M. Agard, wheelwright, all we'll known Prescott business men, whose standing may easily be ascertained by any who are interested and who are not now ac- quainted with them.
 The company has outlined develop ment work estimated to cost $26, 800 and which can be practically accom- plished with the proceeds Of the sale of this stock issue. It is believed by the company that dividends will begin to be paid on the preferred stock on the completion of only a small part of the work. It is further believed that on and after completing all the work outlined dividends will be paid on all the stock and that all this work may