Arizona republican., 1908-03-10
ENTHUSIASTIC MEETING
 OCTAVE STOCKHOLDERS
Reports Submitted Showing the Very Prosperous Condition and the Bril- liant Outlook for the Future of the Big Mine

The annual meeting of the stock holders of the octave Mining Company was held yesterday at 10 a. m. at the Hotel Adams in Phoenix. A large number of prominent stockholders were present. The total number of shares represented in person and by proxy was l,653,136, cut of a total number of shares of 1.750,000. The meeting was a very enthusiastic one and most encouraging from d mining standpoint. The reports of the presi- dent, secretary and treasurer were unanimously adopted and approved by the stockholders.
 The treasurer's report showed that the company had no outstanding in- debtedness of any kind whatsoever. very flattering and propitious condi- tion. It also showed that there was cash in the treasury and gold bullion | in transit to the bank and mint to the amount of $55.991.17; that the compa- | ny obtained a rebate of $15.000 by an- ticipating the full payment of prop erty by ten months time; that the company paid twO-thirds of 1 per cent dividend on the outstanding stock from May the goth, 1907 to oct. 20th. 1907. and a monthly dividend of 3-4 of per cent on the par value of the stock was paid from Nov. 20th up to and including February 2Oth 1908. By unanimous resolution the fiscal agents of the company, viz: C. E.. Miesse and Frank Little, composing the firm of C. F. Miesse and Co. of  for the honorable able and success ful manner in which they handled the treasury stock of the company; for their having saved the company sl5.00O in the purchase price of its property by paying the balance due, in full. ten months ahead of the contract time and for the high finan- cial standing these gentlemen have given the octave company which they represent.
 Mir Hum. the vice-president of the company, was also commended by resolution for the zeal and good judg- ment he displayed in administering the affairs of the company and for the de- velopment of the properties 10 such a high standard of efficiency and sue cess.
 The following general invoice of the properties owned by the Octave Mining Company was submitted Buildings. consisting of mill
 building. power house.
 hoisting buildings. ma
 chine shop. blacksmith
 shop. assay and cleanup
 rooms. warehouse rooms.
 27 dwelling houses. board
 ing house and attachm'ts,
 bunk rooms. commercial
 store building. the stamp
 mill with its machinery
 and attachments. includ-
 ing , large boilers. steam
 and electrical engines. air compressor. air receiver.
 the cyanide plant com
 plete and appurtenances
 thereto; all other appar-
 tus and paraphernalia
 connected with the assay
 and cleanup rooms of re-
 duction department: ma
 chinery. tools, mining
 cars, air drills. steel. with
 the miles of track, air and water lines. steam and electrical pumps. and ap-
 pliances of all descrip-
 tions: horses, wagons and
 corrals at octave and Congress Junction; oil
 tanks. etc, both at Oc- tave and Congress June tion: O. an estimated
 value of ...............$ 462,OOOOO The old water system com-
 prising miles of pipe line. reservoir. fire plugs.
 and other apparatus for fire protection .......... 3S,OOOOO Estimated value of entire water system, including water developed from the mine and to be utilized as an asset of the company for mining and milling
 purposes ......... ...... 25O.OOOOO Estimated cost Of under ground improvements in mine ........ ........... sOO,OOOOO Value of ore blocked out and referred to in report of W. w. Lewis in the older workings of the mine. 16S,O00 tons esti- 1 mated at sS a ton .... 1914. .00O.00 | Estimated value of ore blocked out and exposed through the new develop ment work, from tunnel level, the Star shaft, the
 Joker shaft and from shaft No. 3, in the 18th. 14th, 18th, 16th. 17th and
 18th levels. 100000 tons, at $S per ton. Gt is to be
 noted that assays from all these workings have shown returns that would
 indicate the average ore
 should be estimated at not less than $l5 per ton. in stead of SS per ton) ..y. S00.000.00 | Eighteen mineral claims of
 the company O. an esti-
 mated value, not includ-
 ing underground work.
 ings... .......t. ...... 5OO.OOO.OO The octave Commercial Co.
 store stands as follows:
 On June the 1st. when the
 Octave Mining Co. ob-
 tained possession of this
 store, stock of goods on
 hand was invoiced at about $11.00O: it now in- voices $15,000. In addi-
 tion to this invoice there
 is cash on hand $1.294.77. g., .I,, 4I