The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-04-19
DETAILS Of BIG
COPPER DEALS
What the MaCNeiIl- PenrOSe-
lacking Combine Has Ac-
quired in Arizona.
SALT LAKE LOSES JACKLING
MINES TO BE HANDLED ON UTAH
COPPER LINES.

Following the telephone news from
Los Angeles Monday last to the effect
that the MacNeiH-P demonstrating COM
binatiOn had just concluded the purchase
of the Ray and Cavanaugh copper
mines in Pinal county, Arizona, come
further details Of the transaction by mail
that viii be OF special interest TO the
mining fraternity here. In addition to
the names Of the big Utah Copper COM
pany official mentioned, it is noted that
Robert D. Grant, formerly of Butte and
inns city, and now president of the Amer
ican Mines * Exploration company, with
headquarters at Los Angeles, and Philip
Nlseman. manager of the same company,
are included in the list of purchasers.
Published accounts of the big 5000 600
zeal bring the information that two COM
panles are TO be formed to operate the
properties, both corporations to be CON
Irotled by the same men. and that the
ella Copper company will be the name
of the company to operate the Cavanaugh
mines
Quite a number of the most prominent
mining engineers and big operators of the
country are Identified with the mammoth
undertaking and it is apparent from the
story told in the Los Angeles Examiner
that both Charles VI. MacNeill, president
ana u. Z. Jaekling, general manager of
the Otdh Copper company, have decided
10 make Los Angeles their home i'm the
near future In its account of this fe;.-
ture OF the business and its interview
viii MI MdCNrlli concerning the char
acter of the properties, those connected
with the deal and plans for the future
the Examiner says:
lacking to Leave Here.
Official announcement of the purchase
or the Arizona mines was made by the
three gentlemen yesterday after their re-
tern from the properties. and fifteen
minutes later Mr.. MacNeil, who is a
ti-milliOnaire, laughingly Offered 10
match his business associate, Mr. Jack
ling, who had declared his intention of
coming to Los Angeles to live to see
whether Mr. lacking would change his
mind and go to Colorado or both would
come 30 Los Angeles to make their future
homes.
Mr.. Jackling declined to accent the
challenge, for he said he had already
made his plans and Mould not change
them.
Then / guess I'll have TO move to Los
Angeles also without having had the sat
lSfaction OF trying to match YOU
laughed Mr.. MacNeiII.
Big Men in the Deal.
The taking over of the big copper prop
critics IN Arizona by Mr. MacNeil and
his associates is one of the largest mining
deals that has been cOnsummated in the
southwest for many years. Interested in
the enterprise are number OF the stock
holders of the American Smelling & Re
inning company. the chief owners of the
Utah Copper company, several of the Of
u
REFINING company, A. Chester Beatty
chief engineer of the Guggenheim FIX
ploratiO> company William p. Durham
Seeley w. Mudd Philip WiSeman and
Robert d. Grant. well known mining op-
orators and engineers Of Los Angeles
Mr.. Durham engineered the transaction
which finally resulted in the closing of
the deal Numerous reports have beep
recently circulated relative TO the sale of
the Ray and Cavanaugh properties and
the names of the Guggenheims and
Lewissohns have always been connected
with these rumOTs.
Great Deposits of Copper.
I know many reports have been cir
CdVanaugh mines.' said Mr.. MacNeiI
yesterday. but the facts are now made
public for the first time. Associated with
MIR. Aldrich, Mr.. lacking and myself are
interests in Utah, Colorado. New York
London and Los Angeles The properties
are located six miles north of Kelvin on
the new main line of the Santa Fe in
Pin6I county, Arizona and only a short
distance from the ella river. They cover
nearly 900 acres of pOrphyry contain
ing a blanket vein or deposit of disseu1-
mated chalcocite. having a known thick
ness of $50 TO 800 feet. We believe the
properties are the most promising conner
mines in the country today and we will
expend several millions of dollars in de-
Veloping them
Mill Like Utah Copper.
I'VE have organized two companies
among ourselves TO handle the properties
These companies are controlled by the
same syndicate the officers of both be-
ing the same. Mr.. Aldrich IS the presi-
dent, am vice president, Z. P. Stove of
Colorado Springs secretary and treas
Urer. The directorate will be composed
of MessrS. Aldrich, MacNeil. Spencer
Penrose, Philip Wiseman, Seeley w.
Mudd, Charles H. Cutting, John Amman
and j. G. Gordon. We expect to greatly
enlarge the mill capacity and will prob
ably eventually have a mill as large as
the big one we are operating now on the
Utah Copper company property. Los An
geles VIII be our base of operations and
we expect to establish headquarters here.
This will be convenient, as the new Wick
enburg cutoff on the Santa Re will bring
that section OF Arizona in close touch
with this city"