Daily Arizona silver belt., 1910-05-22
Mineral Farm Group Bonded to Eastern Men on Sat
 isfactory Plan
STOCKHOLDERS MAY
 GET CASH OR STOCK
Reports from Property Do Great Credit to Past
 Management

The taking of an option on the Min eral Farm property, consisting of twen- ty-one claims, located about three miles northeast of Globe, indicates that with in short time Globe district will have another strong group of operators en- gagged in development work.
 At meeting of the stockholders of the Globe Mining company, held in Globe May 19, an option on the prop erty was given to w. A. Canode, act ing as representative of a number of capitalists residing in Chicago and vic inity. The purchase price named in the option is $500,000, distributed in payments over period of five years. The first and second payments fall due August l, 1910 and January l, 1911, respectively, and October first 1911, is set as the date of the third payment, amounting to $35,000. All the subse- quent payments are to be made in cash.
 It is provided in the option that the purchasers shall begin development work on the property by January |, 1911, and that within year from that date they shall expend at least $l00,- 900 in operations to thoroughly pros pect the property. Judge J. F. Hecht man, of Globe, president of the Globe Mining company, states that it is ap- parently the plan of the new owners to begin operating very soon.
 By an agreement embodied in the option, the stockholders of the Globe Mining company may receive for their stock either cash or stock iii a new cor poration to be organized by the pur- chasers. In the latter event, four shares of the Globe Mining company stock will be received in exchange for one share of stock in the new corpora ton, with the proviso that all trans fers shall be made on par value basis.
 The Globe Mining company was or ganized under the laws of Arizona, with capital of $2,500,000, with stock at one dollar par. The organization of the company was effected chiefly through the efforts of Judge J. F. Hechtman of this city, who, in the past, acting in the capacity of president, has been in charge locally of the company s affairs The other officers are s. J. Collier, vice president; F. B. Walker, treasurer; and R. F. Griffis, secretary. MT. Collier and MT. Walker reside in Moline, Illinois, and MT. Grifis lives in Chicago. The directors, nearly all of whom live in Chicago or northern H. inois, are Walt M. DeKalb, George l.. Beach, M. A. Paterson, L. E. West and R. S. Jamison, who lives in Deadwood, South Dakota. The board of directors includes, also, the officers of the com- pany, mentioned above.
 If location and surface showings count for anything, the Mineral Farm should, with proper development, be- come a paying producer. The property is located adjoining the Old Dominion, United Globe, Globe Consolidated and Superior & Globe claims Adjacent to the Mineral Farm on the southeast are the Yuma, O 'Dougherty and Big John ny, all three of them claims from which the Phelps-Dodge interests have ex- tracted much ore.
 The surface of the Globe Mining company's property is marked by many large dykes or faults, exhibiting in out croppings a great deal of iron and hay ing a northeasterly and southwesterly trend. Specimens broken from these outcrOppings have been proven to carry both silver and copper, but as must be expected, the copper values have been greatly leached and consequently the discovery of ore in any appreciable quantities cannot be expected until ex- ploration is done at a greater depth