Weekly journal-miner. [volume] (Prescott, Ariz.) 1908-1929, 1910-04-06
MINE IS
BOUGHT BY
YOUNG

for tl50,000, and will start work on
the 1st Of April in the development
Of entirely now workings and ex.
poets TO again put this famous old
property in the producing class, says
the Phoenix Republican. The old
pumps, though drawn, are stili on the
ground and tho twenty-stamp mill,
he thinks, can DO put In working
shape again for $500. A new hoist
will be installed over the new shaft
that will be sunk, but whether II will
be operated by steam or electricity IL
not yet determined. The Roosevelt
transmission line almost crosses the
property and II prope, arrangements
can be made the Mammoth may soon
become q patron Of the valley far.
mers, through the government, a. .
consumer Of electricity. II that IL not
feasible steam can be generated as
cheap and probably cheaper than II
was fifteen years ago, when the mine
was being worked nc a magnificent
profit.
Mr.. Young said last night that he
has had the requirement Of this
property in mind for more than
year. II was brought 70 his atten-
ton by II. NJ. Lewis, who lived in
Mesa City. during the days Of tho
former working of the mine, who
knows personally Of its value. Since
then Mr.. Young has been quietly In.
vestig eating on hs own account. Prsc-
ticslly everybody he talked to, ex-
ccpt Mr.. Lewis, knocked the property.
Same said n was worked OUT Others
said II would cost too much TO re-
hsbilitate Il. Still others said Il
could not be bought for what II Ia
worth In its present condition. Most
everybody talked discoursgingly Of
II except Mr.. Lewis. Then Mr.. Youns
looked at IL himSelf and studied the
formation carefully. He does not pre-
tend to know everything, but he
thinks he knows few things about
rocks. lie has seen lots Of them In
Arizona. The GoldHeld rocks look
good to him.
The next move was to verify Mr.
Lewis stories of the former opera
tions and product. The latter wa
easily learned from the mine record
and the bank records In San Fran
cisco and Denver. He found a full
veriRcation Of Mr.. Lewis statement
that the former owner and operate
told him personally that the mine ha'
produced t57l, 900 in gold during tn
short time 1t was worked. II 10 ais
known that Malcolm McLeiseh too
over 12s,0OO out Of the tsilings an
that approximately 100000 worth 0
tailings were washedaway. Bsnkin
ON his own Judgment and that q
Mr.. Lewis, Mr.. Young decided to bu
the property.
1t belonged originally TO Charles
Wsll Of Denver, who, with his so
opsrated il during the period Of Y
success. The tragic daath Of the u
and the advanced age Of Mr.. Hal
kept him from trying TO work Il
! mine further, and finally he die
leaving the property 20 his tv
daughters, one Of whom, Mrs. MINI
Hall Perry, 10 the administrator
9 Since deciding to buy II, Mr.. You
has been negotiating with the ow
>, ers and playing checkers with thr
eastern groups Of investors, all
o whom have been trying TO get no
Of the property. Mr.. Young 81
9, ceeded and he thinks he made
good investment. II Is his own pl
d ject, solely, for the present at lea
and will not be stocked. He p
= poses to spend his own money ~ 10
as 1t lasts, and then 60 and get so
IL one to help him, IL he needs he
II II il a winner, IL win be his 20
: fortune or good Judgment. II be To-
Il will be his own white elepha
2 and he will take his medicine.
Mr.. Lewis says he IL not concerr
- In the transaction, only to the ext
Of getting Mr.. Young interested.
~ only wishes he had money enough
no might Be. His chief purpose ID
o., SEQ operating again q property he
always believed valuable, for the q
IL will do its owners and the e.
munity of Mesa City, his forI
ks home. During tho days Of Goldael
prosperity, the Mammoth mine wa
big thing for Mesa City. During
bio lean years in the valley the ID
money In circulation In Mesa {
les came mostly from GoldAeld, WI