Arizona republican., 1909-05-07

The Octave mine is expecting to re open in a short time. according to all reports, as the power line is about com pleted from the plant on the Hassa- yampa river. And the Alvarado or Fools Gulch' property, which has been closed down for the installation of new machinery is expecting to begin operations at an early date. With
 many of the smaller properties there is much activity, and every indication favors the old Weaver district remain ing in the lead in the territory as a gold producer for many years to come. Mir Morrison's visit to Phoenix at this time is for the purpose of prepar- ing for more extensive development of
 the Southern Yavapai's property. the
 purchase of supplies. hardware, horse and wagon. etc. This company was organized about the first of March. of
 this year. and since then a new shaft
 has been sunk fifty feet on one of the
 principal ledges This shaft is being
 sunk on a vein that measured three
 inches at the surface, while at the pres
 ent depth the width is thirty inches.
 The ore is a white quartz. accompanied
 by hematite of iron and galena, with an average value of about $40 in gold and
 some silver. The stock of this com
 pany is being subscribed mostly by
 Phoenix and Los Angeles people. The
 company is capitalized for $500, 900, par value of stock at $1, and 300,000 shares
 of the stock were placed in the treas
 ury. The company has offered 30,000
 shares at 121a cents, and after this
 block has been subscribed none will be sold at less than 90 cents The prop
 erty is fully paid for. That is, the
 owned the property and organized it
 upon the property. The company al
 ready owns the property and has title
 to it. so that the proceeds of all stock
 sales will go into development. The
 officers of the company are T J. Mor-
 rison. president, in charge of the
 ground as general manager; A. N.
 Peckham. of Providence, R. l.. vice
 president; R A. Watkins, of this city.
 secretary and treasurer These men,
 with H. H. Holbert, mining engineer, of Courtland. and James Mackin, as sociated with Bishop & Co, of Los Angeles. form the board of directors.
 The company now has four men em-
 ployed in development work. Beside
 the fifty foot shaft mentioned above there are numerous open cuts made in
 prospecting and ten foot holes on each
 of the six claims, one of which is
 twenty-acre placer claim. Its use will
 most likely be for a mill site rather
 than for placer mining. The property
 is situated on Antelope Creek, and is
 separated by the creew from Rich Hill,
 the first great gold discovery in that
 part of Arizona, and to whose wealth
 the Weaver district owes its great fame Placer mining has been car ried on there most of the time since the earliest gold discoveries, usually by dry washing, and many are thus en- gagged now The ground has been worked so thoroughly, however, that returns are not large and dependable, though frequently some lucky washer will turn out $20 a day for while, then again run into lean ground. The property this company proposes to ex-
 ploit is chiefly lode formations, be- ! lieved to be the origin in part, of the notable placer deposits. Assays of the company's ore have run all the way 1 from s1Oto $250. $40 being considered a good average.
 The company is not advertising its
 project as any wonderful world beat
 ing. world startling affair, but believes