Arizona republican., 1909-03-24
READY FOR
BUSINESS
Plan Of Work Of The New Gold
Companies
SAL0ME HILLSIDE G. N. Co.
1t Will Sell Small Amount of
Stock-Owners Will Work
Arizona Northern Group
as a Close Corporation--No
Stock For Sale.

terday in the organization of the COM
pany which win work the bonanza
claims in the Salome country and
which will be composed of the men
named yesterday as the buyers of the
property Nor does the matter longer
concern the public except in respect
Of the news interest attending the
company's fortunes in development
and the incidental effect on surround
ing property for the property is to be
worked as a close corporation. The
men will pay the expense OF develop
ment themselves and pocket their
profits or bear their losses as the case
may be. The result of development
however will be eagerly watched by
the public on account of its general
bearing on the mining industry in that
section. The company has not even
been named yet nor has its capital
stock been fixed and the public don't
care much for it can't get in anyway.
The reason this organization was not
further advanced yesterday was
through the fact that the gentlemen
were busy perfecting the organization
OF the Salome Hillside Gold Mining
company which is composed Of the
same men with one exception. and
which property they were compelled
to buy TO secure the bonanza or Ari-
zona Northern group. and for WITCH
as announced. they paid between thirty
and forty thousand dollars. over half
cash. The capitalization of this COM
pany has been placed at 100000
shares, par value 81. and a limited
amount Of it. not to exceed 1000
shares and probably less. will be Of
fered to subscribers, starting at ten
cents. 1t is the purpose Of the COM
pany to hold this sale as near a close
corporation as possible for the COM
pany believes the formation and ore
conditions are equally as good as on
the Arizona Northern. except Of course
the fact that the Glory hole was un-
covered on the latter property The
group consists Of the Hillside claim
and the North Hillside. South Hillside
and East Hillside. four claims in all.
the original Hillside end line being not
far from the Arizona Northern end
line and on the same lead The only
difference is that the Glory hole is
known to contain an indefinite amount
of ready money.
OF the proceeds of any stock that
may be sold in the Salome Hillside
company. 70 per cent win go toward
paying for the property and 25 per
cent into the treasury for operating
expenses. 1t is the desire of the COM |
pany to let in those who want to take |
a small chance with them. on a prac- |
tically even basis with them, raising |
enough by the stock sale to pay for |
the proportion of the mine owned by
the stock buyers with their own mon
ey, as they have had 10 pay for the |
rest Of It and when this is done they
have confidence that the property will |
take care of itself. possibly in the end |
proving as big a bonanza as the other
As for the Arizona Northern they hap
pen to have enough money to swing |
the deal themselves, are willing 10 |
take their chances on il, and have n |
little Of the marvellous returns in
sight and propose to hang on to that |
much anyhow in full faith that there |
is plenty more. They feel sure of two |
good mines, win take one on their-own |
account and help the public with the |
other.
Inc fTtSiutHl oI lile company is L
John w. Sharpe. well known in Ari-
zOna as a successful operator in large |
and the man who yesterday |
sold the big Florence canal property |
and got the money for it. The vice |
president is David Shear of Warren. |
Pa. man OF means who is not a |
mining operator but has unlimited |
in the gentlemen he has as
sociated with and says he is willing to /
invest on their judgment and his own |
observation. The secretary is T.. A. |
Goodrich of the Southwestern Realty |
company of this city. and the treasurer
is George NJ. Hahn. a banker, fruit
grower. and large land holder of this
valley. well known to everybody. All /
Of them are gentlemen OF high repute
and business integrity as well as men
Of successful undertaking who have
the means to back up any enterprise
they associate themselves with
President Sharpe. FitZ- Mac and
Dick Wick Hall leave this morning for
Salome. the first named to look over
the situation carefully and start the
active development Of the properties,
Fitz- Mac to make exhaustive reports
on both properties for the companies /
and Mr.. Hall who placed the properties |
with these companies as general guide /
and to provide facilities for camp ex-
istence and inspection and to give
them the benefit of his wide expert /
ence and general information in re-