Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1906-12-21
CORONA QUEEN
GROUP SOLD
London Capitalists
Bought Rich Cop
per Property
LINCOLN COUNTY
To velop Mines in Gallinas
Mountains Greatly Pleas
cd With Prospect.

gest mining deals consummated in
New Mexico in recent years was
closed his afternoon in Santa Fe. The
properly involved is the copper mines
in the northwestern part of Lincoln
County in the Gallinas Mountains
known as the Corona Queen group.
While The consideration is not made
public it is understood to run into six
or seven figures. Hon II. L. Church
man. Hon Oscar Seligman and Colo
nel H. Harry Meyers, IL trio of capital
lists from London, are the names Of
the new owners.
Ex-Governor Otero and Colonel Prich-
ard Interested.
Ex-Governor Miguel A. Otero and
Colonel George w. Prichard, through
whom the negotiations for the transfer
were made, returned last evening
from The mines. They were accom-
panied by the three Englishmen, who
pronounced the mines the best that
they had ever seen, and more than
had been represented to them. They
were surprised at the vast extent of
ore that the superficial development
work had disclosed. Colonel Meyers
who is interested in copper mines at
Butte, Montana, remarked this after
noon that the mines would easily be
worth Sl0,O00000 If located near
Butte.
The English gentlemen were in.
duced to come to New Mexico at the
solicit ion of Ex-Governor Otero who
became acquainted with them on his
recent trip to Europe, He advised
them rot only to come to New Mexi-
co to look over the Territory but also
to examine the mining properties for
an Investment. They were finally pre-
vailed ur1p to come and the purchase
OF the 'arona Queen group of copper
mines III the uaiillas Mountains is the
result.
Il had this mining property which
they have just purchased in view
when | first spoke to them eX-Gov-
ernor Otero stated this afternoon to
a reporter OF the New Mexican. The
gentlemen examined the mines and
pronounced them to be even better
than | had represented them. 1t re.
ouired but short time to close the
sale of the property once they were
on the ground. am not at liberty to
state what the figures are but can
say that they are entirely satisfactory
to all concerned.
viii Begin Work of Development
in Near Future.
"The gentlemen inform me that
they will begin work shortly and have
force of at least one hundred men
employed in putting up the necessary
buildings and opening up the property
The development will go on in sys
tematic manner, blocking out the ore
and leaving it in place. When the
mines are thoroughly opened it will
be time enough to put in machinery.
This transfer means a good deal
| for the future of New Mexico | have
| no doubt that with the capital which
these gentlemen will put into the en-
terprise they will be able 10 demon
strate to the world that New Mexico
is a first class mining country lacking
only the necessary calital to develop
its mines.
Company VIII Be Organized to DeveI
op Property.
"a company will he organized at
once. | am unable TO state as yet
what the capital will be as that is tc
be determined later after the organiza
ton is perfected and the officers elect
ed Colonel Prichard will act as attor
ney for the company in this country
while Mr. Churchman will be the at
torney . 4 managing director in Eur
ope"
The Englishmen who are behind this
new enterprise are all wealthy anC
well known in the financial world. Mr.
Churchman is one of the leading at
torneys of London, Mr. Seligman is
brother of the Seligman Brothers
bankers of London, and of the family
of ]. and w. Seligman and Company
bankers of New York Mr.. Meyers II
a mining expert who has large inter
ests at Butte, and also In Wyoming.
The trio will leave tonight. Messrs
Churchman and Meyers will proceed
east. and Mr.. Seligman will go to Seat
tie, Washington.
The latter will join his wife a
Seattle who went there from New
I York. They will be the guests Of rela