Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1907-02-26

full exploitation with the means at
hand. The property was capitalized at
the very minimum I'm the beginning.
5000. 900. and the capital stock may be
doubled and still leave the mine at a
minimum capitalization. for it is now
well developed In the upper levels, has
been producing for year or two and II
is expected viii continue to do 50. II
has not. however. reached the .divi-
dend basis expected from this small
investment and il is believed that a
larger plan Of operations will be the
quickest and best way to secure that
result.
When the shaft was sunk to the 500
level q large water supply was en-
countered and 81 was believed an Un-
failing one. for It was then during the
dryest season the country has ever
known. year ago this supply began
to wane: rather the larger operations
required more water. which was not
forthcoming and though the mill still
operates it cannot run full time. II
is the belief of the management that
by further development along the vein
on the 500 level plenty Of water will
be found. The mill has for n long
time paid for operation and some de-
velopment. but if there was water
enough to run il all the time It would
pay more. There is also n vast guam
tity of lower grade ore blocked out that
with a larger mill, running continu
ously. could be worked to profit,
which now has TO be left for future
consideration. And with a larger mill
and plenty of water. a larger working
shaft would be needed.
The mill is giving excellent satisfac-
ton so far as It can be utilized but to
enlarge It. to sink a new shaft and 10
develop water. will require more CAPT
tai than the present little mill can fur
nish, though il had been the hope Of
the management that il might do so.
Another thing is that the best loca-
ton for a new and larger shaft can
not well be decided upon until there is
further exploration Of the lower levels.
for when this shaft is sunk it should
be with an eve to the future The plan
Of development outlined by Mr. Moore.
is to drift on the 500 level opening
up an unfailing supply OF water and
at the same time locating the ore
bodies at that depth. then uprising TO
the surface at the point decided upon for
the new shaft. Later the new shaft
can be sunk still deeper and a mill Of
larger size be constructed when the
development warrants it,
It is his purpose therefore to add
5000. 600 to the treasury stock. the sale
OF which. or part OF il. will furnish the
money for this work Offering ii first
to the present stockholders. or such
part of il as they may care to buy.
Just what plan will be adopted has not
been fully decided upon nor will it be
until a visit OF George a. TreadwelL
the president of the company. who is
expected here shortly. He was to have
met Mr.. Moore here but was delayed
by business matters in old Mexico.
As indicated above, there is a little
disappointment that the mine is not
now on a dividend basis. as It surely
would have been had there been plenty
Of water. But the mine itself in re-
spect Of ore bodies looks more flatter-
ing all the time and the doubling of
the capitalization of a property that
has been producing constantly for a
year or two is deemed not only safe