Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-09-04
FIVE MILLION
DOLLAR COMPANY
The Nevada Douglas Copper
Company Finally Launched
In This City Today.
J. D. WOOD IS PRESIDENT.
New Corporation Has Acquired Doug
las Mine Located Near YER
ingtOn, Nevada.

The final detils in connection with
the purchase OF the Douglas mine at
Yerlneton. Nevada, by salt Lake and
eastern parties were arranged today
and, as a result Of this, the articles
OF incorporation OF the Neyada-Douglas
Copper company were filed IN the
county and state offices in this city this
afternoon. The company has a capital
stock Of 100000 shares Of the par value
ofs5 each, Out AT the whole capiializa-
ton, $50. 900 shares have been issued. The
roster OF officers contains the names Of
several prominent Salt Lake mining
men. The papers filed show that j. d.
Wood Of this city has been named as
president; Frank j. Haggenbarth, vice
president, Walter C.. Orem, secretary
and treasurer who with a. J. Orem
and 4. r. Hastings Of Boston, Wind
sor " Rice and a. +. kimball Of Salt
Lake and Arthur l.. Pearce Of London,
England. are directors. An executive
committee. which viii have the direct
management Of the mine, has been
named and consists of Frank J. Hagen
bsrth. Walter G.. Orem and Arthur. l..
Pearce.
The Douglas company has aculred
a group of Is lode mining claims sit
uated IN the Mason Valley mining dis
iriot, and. in addition, valuable water
rights and power sites,
The Douglas mine is said by those
who have seen II. 10 contain a remark
able showing Of copper ore. and 1t was
only taken up after an exhaustive
sampllng OF the mine By experts who
stand high IN their profession. 1t was
resampled not long ago by j. d. Wood,
and corps OF assistants, after assay
ing li9 samples in all, which were oh
tained from the various surface and
underground workings, an average Of
better than 6 per cent copper was the
result. When II is considered that this
investigation covered almost every sur
face opening on the property the find.
ings were really unusual.
Il could scarcely believe the reports
on this property sent me by Mr.. Hag.
enbarth and Mr.. Orem," said President
Wood today Just prior TO my return
from Europe What mean by that Is,
! was afraid a mistake had beex made
somewhere. 50 few days after'Teach.
ing home, | took the train for the west
with several men with me and we gave
the mine just about as thorough sam
ping as anyone could. The result was
even better than the previous sam
ping. So | concluded the property
was worth buying and negotiations to
that end were carried out"
The Douglas property was located
about five or six years ago by II. 4.
Miller, n well known mine operator OF
HALEY. Idaho and is situated near the
Lugwig mine now one OF Nevadas
most important copper producers.
The launching OF the new Douglas
company means the early construction
OF a branch line OF railroad from Wa
huska. a station about 30 miles south
~ Hazen. where the Nevada & Cali !
fornia road leaves the main line OF the
Southern Pacific The company viii |
also arrange for the construction Of |
smelling and power plants IN the near
future. Steam shoyels viii undoubt- |
eddy play AZ inpprtspt part IN the OPP |
Grafton Of the Douglas mine In the fu- |
ture and there is every reason 10 be-
leve that II will become a producer u |
in the mining world