Arizona republican., 1908-08-31
REORGANIZATION OF
 CENTRAL N. & D. GO.
The Two Queens Mines Management Changed and Plans Maturing For Resumption of Work.

The directors of the Central Mining I and Development company held a | meeting in Phoenix on Saturday at which new officers were elected, onlS | one of the former officers being re- tained. That is c. G. Werner, the vice president a resident of Winkelman | and an officer of the company from its | organization. The company itself is better known under the name of the ! 1.-TWO Queens" a local appellation and | the name of one of the claims of the 1 company on which marvelously rich | ore was encountered in the croppings. 1 The newly elected president and 1 treasurer of the company is Irwin Jor- | dan of Kansas City and the secretary | ! is V. K Heimberg of Kansas City. | The board of directors is composed of the above named except the secretary l and the following named: T. B. Enochs of Kansas City. James McGee of Flor ence. sheriff of Pinal county and Dr. ed the F. G. Angeny of Phoenix. The | former president and general manager Judge s. H. Snider and Frank Horn who has served the company as fiscal agent, both retire from official con I retain their stock interests. President Jordan in an interview
 said the conduct of the property is to be on quite different. lines and if it is possible he hopes to make the man Il agement more successful, though the | transformation from one management T to another seems to have been har- | moniously conducted Judge Snider . I,- nj inter- ests in Pinal county to which he will
 devote himself. MT. Horn has several
 other large projects on hand and is not
 in a position to give this the atten-
 ton it requires or to undertake the
 new line of procedure 1t IS believed
 will be necessary to achieve success.
 It is the purpose of the management
 says MT. Jordan to secure an expe-
 rienced miner as soon as the right man
 can be found, who also has the eXecu-
 tive ability and necessary recommend
 ations, and place him in charge at the
 mine ot hasten it's development with
 all possible rapidity. With well direct | ed work it is believed that compara- l lively small amount of further deVel-
 opment, added to what has been ac-
 complished. will expose a large body
 of high grade ore.
 The present No f shaft is down 265 feet and a crosscut has been run from
 the bottom of it, through an eight foot
 vein of which four feet is good ore and
 the other four feet a highly mineral
 ized formation. This work it is believ-
 ed has been jidiciously done and it is planned now to drift along this vein
 for about 75 feet when it is expected there will be encountered a large body
 of ore. indicated by the junction of
 numerous veins on the surface oTer that point.
 The prosecution of development
 work of course depends mainly on the , financial resources of the company and some inquiry was made concerning it,i fiscal affairs. MT. Jordan said the s company has no large amount of mon p ey on hand but has sufficient for inn
 mediate necessities and the beginning
 of a persistent campaign of develop 5 ment work. If he can secure the co operation of the present stockholders
 feels that there will be little difficulty 1 experienced in securing the money the
 ly the value of it's property or demcn- ' strate to the satisfaction of all that there is no mine there, that the signs II have all failed and everybody has been mistaken. He has personally giVeE the
 property a thorough examination and -' satisfied himself that the values gre II there All that is necessary is to dig them out. The property has been worked in only a desultory manner e since midsummer but he expects at an early date to start work again and
 gradually increase the force to twenty e five or thirty men.
 II Concerning finances. the company t now has several thousand stockhold-
 CTS. Mir Horn conducted a very sue II cessful campaign in disposing of tho u stock and all was going smoothly unti E. the panic last fall when the company u lost a considerable sum in the failure u of Kansas City banks This rathel q disheartened some stockholders who r failed to complete payment on stock T. bought and of course tied things UT ' so the market for the stock was tenn e porarily destroyed. Personally he say: y. that though he has followed the busi u ness of a broker very successfully ht u has not engaged in large general flo y tations after the manner in which th' IS Two Queens has been handled an'
 which would doubtless have been sue cessful only for the unexpected inter y ference of the panic. He is fully con It. vinced of the value of the property an' d believes that he can interest sufficierf lu new capital to carry the enterpris
 through successfully, if the presen S' stockholders will give him their sup De port and cooperation.