Bisbee daily review., 1908-02-08
SIERRA CONSOLIDATED
 MAY BE REVIVED
Receiver For Property E rom New York Expresses Con-
 fidenCe in Outlook.
Albuquerque Journal.)

Eugene H. Wilson, one of the best known authorities on mining and cor poration law in New York, arrived in Albuquerque yesterday and spent sev- eral hours here, leaving at midnight for Hillsboro, where he goes to take charge of the properties of the Sierra Consolidated Gold. Mining company, which was sent into the hands of re- ceivers last week when former Sen ator Warner Miller, of Herkimer, New York, went down as result of the financial stringencE. The court in West Virginia, under whose laws the Sierra Consolidated was organized, and where the bond holders brought the proceeding for a receiver, appoint ed Mir Wilson receiver, and he is now on his way to take charge of the properties. He is accompanied by J. J. May, superintendent of the prop him in the work
 Mir Wilson takes a very hopeful view of the affairs of the Sierra Con solidated. He says with confidence that the properties are sound, that they are not seriously involved, that they will be reopened and beyond a doubt will be made to pay.
 The properties of the Sierra Con. solidated include the famous old Snake mine, one of the famous pro ducers of the Hillsboro district.
 Tt is my opinion that the difficult | ties of the Sierra Consolidated will soon be straightened out" said MT. Wilson to the Morning Journal last night. T am very familiar with the district, having been interested for some years in the development of the Ready Pay property adjoining the Sierra Consolidated holdings. Our property is now running two Hunting ! ton mills full force, and is turning ont sixty tons of ore day.
 There can be no question of the worth of the Sierra Consolidated prop critics. The oil Snake mine has been an established producer for many years. Tnere was no cause for the receivership for this company, aside i from the financial depression and the inability to get money to meet bond ed indebtedness. More than $200,000 ] has been expended in equipping the property and the mills are standing ready to run, even the electric light globes being in place. Of $150,000 in contracts, a little less than S7,000 remains unpaid. It was the mapllity to get ready money to meet a forth coming bond obligation which forced the receiyership action. l expect tc get to work pumping the water ouf of the mine at once, and We hope t6 begin operations shortly. I think there is no question of the future o the property and that it's troubles vii shortly be at an end"
 T have always had the greatest faith in the Hillsboro distrlcT ever since my first visit there, when I be came interested in the Ready PaJ mine. It has been an expensive prop erty in development, and I have beer instrumental in bringing some $50, 900 into the district for investment which shows my faith. The result are now beginning to appear. Int district has been unfortunate; jus when it has been about to get tn kind of development 1t needs, in ; word, to get fair show, along come some incident such as this one to giv' it black eye. But this can not las forever and the values are there"
 Much of the prejudice against Nev Mexico mining properties has disap peared from the mind of the easterl investor. Five years ago to present l; mining proposition in New Meico brought forth smile of derision. Nov it is at least sure of serious attention and within ten years I look for a de velopment in this territory as far reaching as that which has occurred in Arizona"