Los Angeles herald., 1907-12-22

also believe that all promotion stock
should lie pooled until the property is
upon a paying basis and not be per-
mitted to embarrass those who have pur-
chased treasury stock in good faith l
am now working with committee from
the chamber upon the framing of such
a bill as Is above outlined, and those
mining men that 1 have spoken to on the
subject express themselves as heartily in
favor of law of this kind. If, in the
past so per cent of the receipts from
stock sales had been religiously used
for development purposes, what scene
Of activity would not this wealthy south
western mining country of ours have be-
come anC what a tremendously different
physical aspect would 1t not now present!
Center of Mining Region
AS is -.r ,wn the fond hope of the
chamber is to see Los Angeles become
the prosperous center of vast and pros
porous mining region. 1t might not be
amiss for me to mention a few of the
districts composing the rich country trib-
utary to our city.
Arizona is probably doing more devel-
opment work at the present time than
any other division Of the southwestern
mineral region. more especially. perhaps,
off from Amboy through Parker to
wickenbtrgs This is opening up won
derful country which has only hereto
fore been held back by lack ca transpor-
tation facilities.i AS the pay ore carries
both gold and copper, 1t makes this
region a very attractive proposition.
There are more than 200 properties in
operation within a radius of thirty miles
of the Needles alone. This is all trib-
utary to Los Angeles.
Searchligh. is one of the oldest mining
districts in Nevada. In Searchlight
proper there are forty-one developed
properties all hut six of which are now
actively engaged in production of bull
lion or development. Present estimates
show approximately $4,000 to $4,000 per
month in payrools. The production is
difficult to estimate. as practically all of
the companies are close corporations and
few, If any, public statements are given
out. Gasoline and distiNate are used for
fuel and this is practically all purchased
in Los Angeles. In fact, all supplies and
machinery for the camps in this vicinity
are procured here and the value of this
business to Los Angeles is estimated as
being upward of half a million dollars
per year. Searchlight is now in direct
touch, via the Santa Fe railroad, with
our city.
Phoebe and Ely: The railroad built
from Caliente to Phoebe, twenty-six
miles, has tapped one of the most won
derful mineral belts in the world in sill
YER and lead. Here there are many miles
of development work performed years
ago. The camps are now working full
blast, as the ore is very profitable and
in great demand at the smelters for the
fux. 1t will be but short time before
Ely. with all its great resources, will be
tied to Los Angeles by the railroad and,
being virtually in the same territory, it
will bring vast amount of business to
our doors.
Big Mining Camps
Goldfield and Tonopah it seems hardly
necessary to comment upon, as their pro-
drction under fair circumstances is too
well known. The troubles they have
been through would have completely de-
stroyed any ordinary mining camp, but
with their fabulously rich properties,
they win be able again soon to place
themselves in the front ranks. Let us
hope that they will then be permitted to