Arizona republican., 1908-01-05
LOS ANGELES MAN
BOOSTING ARIZONA
Visit of E. A. Jones, Formerly of Pres
colt and Phoenix, Now in Realty and
Mining Business.

+. A. Jones OF the real estate and
mining agency of Choate, Jones *
Stumpf, of Los Angeles, was a Phoenix
visitor yesterday and expected to leave
this morning for Prescott and vicinity
on mining business. Mr.. Jones will be
remembered as the former general
freight and passenger agent OF the s.
+. 7. & p. railroad company, with
headquarters in Prescott. though
frequent visitor in Phoenix
'The firm with which he is connected
was formerly W. A. Choate & Co. and
was engaged mainly in real estate I'M
Ill Mr.. Jones connection was estab-
lished. and he has been chiefly in
charge of the mining feature Of the
business. Mr.. Jones says that they
have been very successful thus far
both in realty and mining. They fl
naced a placer mining project on Kern
river and they are now engaged in
financing the Peacock mine which is
about three-quarters of a mile from
the railroad in Yavapai county, being
the nearest station. The property is
opened up to a depth OF over POO feet
and is a promising one. The ore car
ries good values in gold and silver
both.
Mr.. Jones says that from what he
gathers here. the people seem to have
the impression that Los Angeles has
been pretty badly tied up. He says
the conditions nave evidently been
exaggerated. 1t is true the city has
been on a scrip basis and is vet to a
large extent, though the banks are
gradually taking up the scrip and put
ting more real money in circulation
But there never has been a time that
person who had something on which
to demand it. could not get sufficient
cash for necessities. The banks to be
safe would not pay il out if they
Thought the patrons merely wanted 10
spend it locally where scrip would an
swer just as well, or if they thought
it was wanted for boarding or to sent
out OF the country. But says Mr.
Jones. whenever there was a large
business transaction, a realty deal for
instance or other large investment and
the money was needed to consummate
il the buyer could always realize on
his paper. There was some inconyen-
fence but no suffering due to the use
of the paper. except that it naturally
was not a good business stimulant.
There has been a great influx of
tourists TO the coast the present win
ter and they have come not entirely
for health or recreation. but for in
vestment and many have bought heav-
fly in orange land and in lands in the
San Joaquin Valley.
Los Angeles has in the past few
months become quite a mining center.
Unfortunately il was the market place
for a vast amount Of worthless stock
and the city developed a sort Of Ne
vada fever. with the result that the
Californians loaded no heavily on Wild
cat stocks. Most OF these OF course
possess little value now and the most
Of the transactions were made among
people who preferred gambling to in
vestment. They bought. not to help
develop a mine. but TO sell the stock
again shortly at an advance The
more careful investors. men who
sought to buy mines rather than
stocks. still possess level heads. but
the bursting Of the Nevada bubble, or
at least the punching of holes into it.
has had the effect of turning the at
tention of real investors to Arizona
rather than to Nevada. Mr.. Jones says
business man in Arizona mines now
than he has at any tine during the
last six months.
The company with which he is con-
nected he says has issued a great deal
OF literature and has always urged
possible investors to not only buy
Arizona stock but TO first go to Ari-
IONA and personally look over the
T.
Arizona company has good connections
in Los Angeles and he believes will
make a success OF its project. He has
also heard a great deal about the Car
rigan property in western Arizona and
understands it is being well exploited.
The Carrigan company also has capa-
ole and energetic connections in Los
Angeles. Mr.. Jones company is in
terested in a group adjoining the Car
rigan mines.