Arizona republican., 1909-02-11

c. Denton of Bouse are in the city on business connected with the Ari- zona Bouse company that is just now the sensational mining project in western Arizona. The company s property, when the AriZona-Bouse Co, was formed, consisted of seven and a half claims owned without en- cumbrance and a bond on the Little Butte mine bought of MT. Bouse and associates, on which s2S,0O0 in cash has been paid. One feature of the business of Mr Meyer here, is to make another payment of s2,50O on the Little Butte and which will make the payments about $2,OOO ahead of the contract agreements. The other half of the fractional claim men, tioned above the Manipulator, was owned by s. E. Vermilyea of Los Angeles and has since been bought by the Arizona Bouse Co. so it now has eight full claims for which the titles are now being recorded in Yuma and will soon be on exhibition to those interested. It is the purpose of the company to keep ahead of the payments on the Little Butte Butte which it considers a wonder full little mine and at no distant day will have a title to that also.
 MT. Meyer is not merely taking the initiatory degree in mine exploitation for he has been successfully operat- ing for ten years past in Montana, Mexico, Colorado, California and Ari- zona. He. was interested in and fi- nanced the Jerome Verde, formerly the Verde Queen, a property that went right along doing business all | through the panic and is now operat- ing quite successfully, and is well equipped with machinery. He is the head of the firm of J. F. Meyer & O., whose office is in the Pacific Savings Bank in Los Angeles. The same firm financed the Standard mine at Gina, Cal, which was also operated all through the panic, though shipping was discontinued by reason of the closing of the shelter. MT. Meyer has had a great deal of experience in mine financing and has been most successful in his eff forts but said yesterday that he nev- CT saw a proposition that appealed to him as the Little Butte did when he looked it over He says his ex- VIII Dt Olll llldl of most stock selling projects in this respect at least, that the company is organized for only 2,000,000 shares and one-half the stock goes into the treasury. None of the treasury stock proceeds will be used to pay for the mine. Eight claims are already own ed, fully paid by the company and as mentioned a large part of the Lit tie Butte has been made and the rest of it will be made outside the treas ury stock proceeds. He says there is sufficient ore available right now Of dependable values, to, more than pay for the mine. Of the proceeds of the stock sale, he says, fully 70 per cent, perhaps more, will go into develop ment and not to exceed thirty per cent will be used in promotion ex- penses. The proceeds of the ore may be used to pay for the mine, and will be if necessary. Tn thus speaking he is not dealing in matters merely theoretical, for the company has al- ready shipped some ore that returned a net profit of between S700 and $500 per car and expects''t ito ship at least car a week from now on for a while and later about two cars a day. To facilitate this the company is now negotiating for the building of a railroad spur from the A. & c. track to the mine, distance of only about 2,000 feet.
 J. c. Denton, who has been oper- ating largely in the Bouse district, and who placed this property with MT. Meyer, Is superintendent and has f,,T oh nf Mr Tlan- ton and MT. Meyer expects while here to purchase a hoist and ten or twelve horsepower plant, to be erect ed at once on the Little Butte shaft which is only 50 feet deep, though they believe is a well proved mine, all the development of the group be- ing along the same mineral bearing formation. They are now working only ten men one shift a day but a- soon as the hoist is secured they will increase to three shifts, sink the Little Butte as fast as possible and throw out the ore regardless for they have plenty of good shipping ore and want to turn it into money. It is the nearest to a grass roots propo- sition that MT. Meyer ever come across and at the same time is To- cated almost within speaking distance of the railroad and about four miles from Bouse It is the fact that the property can be paid for from the proceeds of the smelter and that it is sufficiently developed to begin cash ing these ores that makes it such a fine proposition.
 The Manipulator shaft which is on the claim, the other half of which has just been bought, is down 225 feet and is in water. That will be an asset rather than a disadvantage in that section, but the shaft cannot be operated until pumps are secured, all of which will follow in due sea son. Notwithstanding water has been encountered the sulphide zone has not yet been penetrated though it may be near at hand. While it is a copper proposition the ore all carries from s1 to s3 gold, some of it samp- ling up into the pictures. A hoist will be put on the Manipulator also little later. The Little Butte shows good ore all the way down. There is a fine showing of iron and one smell
 ter is offering to work the ores for the copper values free, for the sake of the flux.
 Concerning the sale of stock in this property, it has been mentioned be-
 fore in this newspaper that 140,00