Arizona republican., 1909-04-16

indefinite. It is understood that Hall & Holman will proceed with the Cow boy lease and it is also understood that Dick Hall, who has been prepar ing to exploit another lease owned by a company he was instrumental in or ganiZing. known as the Hillside Bon anZa, will probably abandon the prop osition. His reason, given yesterday. was. that while he has orders for con siderable stock and a goodly quantity of money in the bank to pay for it, he does not feel justified in issuing the stock and using this money under the conditions as they now are He has sufficient stock sold to probably run development work for three months, which is not a long enough time to carry the project through to a profit taking basis. If the fluke on the Arizona Northern property should slacken public interest, so no more stock could be sold and he would not able to make a desirable showing to those who have already placed their orders for stock. Therefore. unless conditions clear up, so he feels justi fled in going ahead, he will return the money to those who have sent it to him having confidence in his proj- ect. and give up the enterprise. He desires, above all things, to keep his reputation clear in connection with the project. as he has done to date in respect of everything said or done per taining to the big strike
 Confidence Unshaken.
 It will be regrettable if the public
 
 gold fields. merely because the syn dicate has dropped the Arizona North ern. The Republican sought diligent- ly to secure the unvarnished facts in the case yesterday. and heard much from those having knowledge of both sides of the negotiations. aud it is be- lieved that the statements above made are correct in every way. The Re publican has tried to give its readers the facts all the time in regard to the gold news, and if any incorrect state ment has been made to date. this newspaper has not been apprised of it. The strike was genuine. has made good as far as exploited, and it is be- lieved that faith in the gold prospects of that section should remain unshak- en in everybody's mind. The gold is there. The only question is, Who will dig it. and who will furnish the money to dig it? and business complications. unfortunately. surround every develop ing enterprise, especially that of min ing.
 These incidents. while delaying de- velOpment of the bonanza group. per haps. should in no way affect the de- velopment of the many other good properties in the district. and will only hasten the development of the Hill side. Nobody but the syndicate and the locatOrs were concerned in the Glory Hole. and the mining world gen orally will watch with eager interest the exploitation of many other fine prospects known to exist in that vii cinity.
 Plans of Owners.
 Messrs. Griffin and Algier called at The Republican office last night and stated that it is their purpose to at once resume possession of the prop erty and work it for the best that's in them. They believe they are in a po- sition to raise what money will be necessary, and it is their intention to II pCttu to SIiOW tilt WOTlO lUdl lue mine is a bigger one than anybody yet has even conceived it to be. Mir. Algier will leave for the mine this morning.
 The gentlemen also stated that their dealings with the syndicate had left no hard feelings. They still think Phoenix is all right, and their reia- tions with the syndicate are still ! It was a mere difference of l business judgment between the two | parties to the deal. If the syndicate elected to give sup the game. it was its privilege to do so. They believe the Phoenix men made a mistake and | that their own future prosperity will | it.
 Another thing that deterred the syn dicate in its project and that also | holds Dick Hall in doubt. is the fact | that during the next three or four | months development will have to be | slower than at any other time of the | year, or than in any other year. and | this is the particular year when the | most rapid work should be done es- pecially in the case of the syndicate, | which was faced with such heavy pay ments almost in the beginning. Dur | ing the present summer the work will | be largely in the open. not being yet | A night shift cannot be | worked. for there are no accommoda- | ions available for day sleeping, nor |