Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-12-26

he found the lode before ~ leit or
was killed, n no sunk several shafts
Of ten feet OF 40 on il and these filed
up In time with gravel But Mr..
Smith got To hunting Tor them and
digging them Out. lie has located five
claims end 30 md on the lode, on
one known by the name of ella Mon
atcr he has sunk a new shaft and
there is geld from the gravel down.
Mr. Sanford Robinson, secretary of
the Stceplc Rock Development com
pauy. and in charge OF the property Of
that company In Grant county. recent
~ made u thorough examination OF
the new discovery. He found a true
assure vein in what is known as birds
eye prophyry from i've to six feet
wide, going down vertically a dis
lance of fourteen feet So far. with
smooth walls IKE glass. with four or
i've foct Of weather and iron stained
quartz on top. from which, from the
surface down he could pm gold, ana
he saw then bclOv a HllphiGc ore MI
ms the vein from wall To wall ON
one wall there is siN to eight inches
of soft grey sulphitc which cam be
shoNclcd out, and on the other, which
is the hanging wnll, an inch ot tale
like stun, or Kougc Since making the
hnd Mr.. smith has taken out and ship
ped four tons of the surface quartz To
III Paso. and the smclter returns give
him S12f35 to the ton and ncttcd him
We 500. 90 per ton The district has
wood and water IN abundance. The
tart.. .lAg4,tfgYeH Ia .t.ItF. ....st..t. ,,lfFg
from the Mogollon road. Tho ore has
no base metals, containing only gold.
silver, iron ana sulphur. IT is under
stood that the intention is 20 SIM a
new SHAFT ana abandon the present
one In the bed OF the creek MT
Smith has disposed OF a haif interest
Ia the property 20 the Fraser brothers
ana A.. \, Ncwhouse OF the Twin
Peaks Mining company and has also
given an option to the same parties
for the remaining half. which Il is
understood win be at oncc taken up.
ana Mr. Robinson proposes to under
take the DEVELOPMENT ct the property. /
Santa Rita.
\ recent market lettor issued 10y
Hayden, stone g company has the
following to say relative to the chino
Copper company;
Al the time OF the formation OF the
chino Copper company il WIS the de-
Sire of the bankers for tho company.
owing to the partial development OF
the property. To make the issue az the
lowest possible price and one that
would not show amy pront 10 the for
mer owners ana make their profits de-
pendent upon the Development oi the
property. To accomplish this cquita-
bly, tho former Interests were given
options ia the unissued treasury shares
par, the price al which the stock
was then issurcd These options ran
Tor "a period of one To two years. The /
Development ui the ground has been
So ruUid and satisfactory that the COM 5
IL now ordering the immediate
construction OF the 250e-mill. and
should be entering the ranks OF prof. !
duccrs in a period OF about IA year.
Instead of requiring the company 10
issue amy bonds for the purpose OF I
Tor this equipment. thc holdors e
NJ the option were $50 gratincd az the 81
"t me property that. be- J
'nuso ot their barge contingent stock :
utcrcsts therein, they agreed with
managemont 10 Immediately eN- 3
'rcisc their options. thus cauccliing !.
.ny outstanding options whatever. and ID
nus paying into the company xi.sss.-
which. with the present money =
N hand. will give the company aii The ,
unds which II desires DURING the !,
OF present construction.
Many people have been somewhat :
10 purchase an interest Ia !
b. shares during the last few months. n
1 spite OF is favorable development. =
Wing 10 the uncertainty OF these Oh.
n with this feature out of the =
we look to see a very satisfactor, lp
Improvement In the values OF the nj
iarc-. with the company free Of any N
'nded irdebtel ncss ana amply D,
nauccd. Len
WE HANDLE a ZINE LINE OF "a
resi- AND CANNED FRUITS ~