Arizona republican., 1909-06-04

l feet some reorganization, increase the | capital stock, acquire some adjacent | property; and perhaps to make some
 change in the name of the corporation.
 President Meyers was asked last
 evening to verify these facts and prac-
 tically did so. He said the deal had
 not advanced to point where the de- | tails could be given out but it is true
 that a controlling interest in the stock has been bargained for by Messrs. Sharpe, King and others and the ar rangement has been so nearly perfect ed that he and Mir. Sharpe are going
 to Bouse today to place MT. Sharpe in
 personal control of. the mine manage
 ment. As to the purchase of more
 property, change of name, capitaliza- ton, etc, those are all things that the
 stockholders must pass upon when
 they assemble and he had no desire to
 speak for them in advance. He said
 though that the proposed change in
 capitalization was modest, merely in
 keeping with the larger plans of the
 men who expect to become the man.
 agers of the property.
 Asked if this transaction meant a
 severance of his interests in the com
 pany MT. Meyers said most certainly
 not On the contrary he was more enthusiastic than ever before and be- gan to recite the facts concerning an open cut recently run some distance from the Little Butte shaft where good shipping ore had been uncovered clear across a vein for the distance of sixty feet, carrying eleven per cent copper ;,, ing he explained that the property had paid it's way thus far by the sale of stock and the ore shipped and is now developed to a point where there is no longer a doubt of the magnitude of the copper deposit. Recently he had ac- quired some adjoining claims that na- urally belong to the same group, so that the diloe, vein or ore zone. what ever one may choose to call 1t for about three miles in length. is now in the company's control The only thing lacking to make it as big as anybody's copper mine is the expenditure of large capital Under his management there had been a clean balance sheet, always money to meet expenses of operation. etc, but now that it has been demon
  there should be "a larger initial invest | ment. He had been able, to secure the | assurance of this by selling sufficient | of the stock of the company and lit- | tie private stock to give the interested | gentlemen the controlling interest ask ed for. Both he and MT. Bishop retain | the major part of their personal hold ings and assert that they consider that | stock under the new management will | be worth more than it is now. even with the larger capitalization. the | amount of which he was not at liberty to disclose.
 Meyers and Bishop copld not retain control and secure the large money they desired to operate with but hay ing such faith in the property they | willingly give up control and Array with the minor stockhold- CTS, believing that it will be more for all in the end. MT. Meyers the suggestion that it might be construed that the company was short Of money and had to make a sale. He insisted that the company lad plenty of money to operate with on It's present plans but it wanted to do bigger things. To illustrate his cheer fulness over the situation it might be said that he acted like boy who had been running a peanut stand success fully as sole proprietor and had avail ed himself of an opportunity to sell 1t for third or minor interest in a big dry goods store.
 It was learned from another source that it is not a case of a new syndicate | formed to swallow up the Arizona Bouse and others. but that the new in- vestors or so-called syndicate had merely bought controlling interest in .he present company and will ask the stockholders to make such amendments 10 the existing charter as will permit he conduct of operations on a larger Icale. Pending the action of the stock holders meeting there will be no stop ping of work at the mine and it is ex- oected that afterward there will be a more active exploitation than ever.
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