Bisbee daily review., 1909-07-08
.ALVARADO'S FAMOUS
 PALMIlLA MINE

Probably the most widely advertised silver mine in the world has been the Palmilla mine in the Parral mining district, largely because of the eXtrav- agances and eccentricities of its own CT Peter Alvarado, who at one time offered to pay the national debt of Mexico.
 In the eight years that Alvarado worked this mine, it is estimated that he took out s30,000,000 gross value of ores and yet two years ago he had given away sormuch money and dissipated his fortune to such an ex' tent that he was unable to meet his debts and was obliged to part with his famous mine. His willingness to dispose of his property was due to his inability to handle the water which came in in large volume at a depth of about 600 feet. The property passed to an American syndicate, headed by A. J. McQuatters of Dallas, Texas, president of the McQuatters Co, prominent engineers and contract ors who have been building large wa ter works throughout Mexico. There Is also a large Boston ownership in the property.
 
 nent has been getting the property in shape for a large production. This work has occasioned the installation of large pumps, electric hoisting. ma cninery, retimbering of shafts, build ing of new three compartment shaft. building of a working tunnel HOO feet through the mountain, tapping the
 .'erground workings at depth of 730 feet below the collar of the shaft and saving that distance in the lift of both ore and water: sinking the shafts to a depth Of 200 feet below the Alvarado workings where, by means of drifts and crosscut, 200 feet of virgin ground has been opened. The bottom of the mine has been diamond drilled for depth of 225 feet and has given an indic.ed ore tonnage there of between 900.000 and 100000 tons of high grade milling ore in addition to which there is between 500.000 and 500 900 tons of milling ore in the up. per level left by Alvarado and on the
 ,nrtacs already mined.
 The public is given an opportunity tC become interested in this property though the offer of 100000 shares of Alvarado Consolidated Mines Co. stock
 
 Company stock for each share of Al zarado.) for $5 per share. the proceeds from this public offering going to pay for 1000 ton mill.
 The entire issue of stock has been underwritten by responsible parties under which agreement the under writer's take all the stock not sub scribed for by the public. The sub 1 scription list will be opened on July and will be closed on the following day.
 1 The Aivarado Consolidated Minei Co. has a strong board of directors in cluding besides President McQuatters F. DumaresQ, retired partner of Bos tons prominent department store Jordan, Marsh & Co, Timothy E. Hop kins a retired woolen manufacturer ol Danielson, Conn, vice-president ol the Federal Trust Co. of Boston James I. Long. president and general manager of the Parral ( Durango R R.. Mexico. William H. Harrison, presi dent of the State National Bank of Fort Worth. Texas, Juan A. Creel president of the Banco- Minero, Chi huahua. Mexico. Thamas S. Shepard of Chihuahua. Mexico who has been associated with President McQuatters , in large Mexican Government cop tracts. and J. R. Schermerhorn of Easi Orange. N. J. who has been associated for . number of years with Thomas E Edison.