Los Angeles herald., 1907-02-04
ARIZONA COPPER
GROUP BOUGHT
SECURED BY ENGLISH AND
FRENCH CAPITALISTS
Details Of the Negotiations Success.
fully Closed Through ex-senator
Dorsey, the Cecil Rhodes Of
the Golden West

Details of the big deal in mining
property in Arizona, negotiated by ex-
Senator Dorsey of Los Angeles are
at hand. The 100 fine claims in the
Clifton -Morenci, purchased by the Ari-
zona Amalgamated Copper company,
formed by English and French capital
lists, will be developed on an extensive
scale.
Commenting on the sale of the prop
erty the Clifton Era states that the
group of claims are in the heart OF the
mineral belt, but while many or the
mines have been worked for years and
have large ore bodies ready for stop
ing, the management realizes that 1t
will be necessary to spend from two
to three million dollars in the pur-
chase price, in development and equip
ment of the property and the erection
of a modern plant for treating and
smelling the ores.
The company has been most for
tunate in securing a millsite on the
rolling hills midway between Clifton
and Morenci, which will be near the
Morenc Southern railroad, and in close
proximity to the proposed Htgh-L1ne
railroad of the shannon company. The
millsite is about 500 feet above the
Frisco river from which it will pump
| it's water supply. This is considered
only a moderate lift in this district, as
the water for the three concentrating
plants and the smelter at Morenci is
elevated about 1900 feet. The canyons
below the millsite will afford ample
storage capacity for the tailings for
many years to come. This is most
| important matter, as suits have been
| instituted against some of the older
| Il Nivn.r thntr fli
| into the river, from which point they
are carried by the flood waters onto
the farms along the Gila river. The
altitude Of the millsite above the river
will render it a comparatively easy
matter to build a railroad to the mines
on a leve, above the flood waters of
Chase creek, which must be reckoned
with in the future.
Strong Financing Company
The company will be mainly financed
bv Hudson's Consolidated, Limited, of
London, which for years past has been
| operating in mines in Africa and AUS
tralia with phenomenal success. Two
directors of this company, Charles
Grimwade, F. r. G. S., and K. Martin,
visited the properties and expressed
themselves as greatly surprised at the
amount of development work shown on
some of the mines They had eX-
pected to find only string OF pros
poets, but instead they found many
mines upon which work had been sys-
tematically prosecuted for many years.
| Their company has been pioneer in
bringing about many successful ANAL
carnations in various sections of the
mining world. The present demand
for copper recently attracted their at
tention to Arizona. The company's
chief consulting engineer, Mr.. Poor
| o ~ nf
Jury, London, is now on the ground
and is making an exhaustive report of
the various properties which the COM
pany has taken over and is now de-
veloping. Colonel Catlin, one of the
best known mining engineers of New
York, is also examining the property
for New York and Boston investors.
These engineers will form combina-
tion of ideas for the opening and de-
velopment of the property, and for
treating the ores, etc.
Great Results Expected
On some of the claims parties inter-
ested In the formation of the COM
pany have been prosecuting work for
the past six months, but their plan of
amalgamating such large number
of claims was kept so we'll from the
public that but few men in the district
| knew there was deal on, hence 1t
came as a surprise, and enabled the
company to secure their holdings at a
most reasonable figure. However, the
people of the district generally well
come this amalgamation as they rea-
lize that a pronounced success, except
| in rare cases, can only be had by
company with large capital.
| The English gentlemen were simply
astounded that such promising and
valuable properties could be had in
such an old, successful district, but,
as they stated, the same conditions ex-
listed in the Kimberley district of Africa,
until that wizard of financial genius,
Cecil Rhodes, amalgamated the district
under one management, and then by
the judicious expenditure of money de-
veloped the greatest diamond fields in
the world.
BY their large holdings they will be
enabled to secure a variety of ores,
which is of great advantage in smelt-
ing.
In an interview Senator Dorsey
stated that both himself and asso-
ciates realized that 1t will require the
expenditure of several million dollars
to put this property upon a paying
basis, but there will be no lack OF
money to bring their plans to sue
cessful termination. They enter the
district with the knowledge that it will
not only be necessary to develop and
equip their mines, but also to build
railroads to connect their plants and
mines.