Arizona republican., 1910-10-30
NEW INTERESTS MAY
 GET RAY CENTRAL
Property Believed to Be Able to Show
 Good Tonnage of Commercial Ore.

While official notice is still lacking, the impression prevails generally that it is but question of a few days be- fore the formal notice will be sent by the General Development company to the Ray Central Copper company ex- pressing their conclusion not to exer- else the option of taking up the re- mainder of the Ray Central company bonds, which privilege they have held for over a year Those who watch this market carefully are of the opinion that this is probably the best thing that can happen in favor of this security, as if the ore Is there irrespective of the problems and difficulties of mining 1t, no doubt is entertained but what sat- isfactory connections can be made with other mining interests who may be willing to identify themselves with this much mooted piece of ground, says the New York Mining Age.
 The directors of the General Develop ment company are known to have had several conference during the week and while no one seems to be privi- legged to ascertain what transpired at these sessions, the belief is almost unanimous that it was decided to fol- low out the recommendations made by the consulting engineer of this com pany. and not to exercise the outstand- ing option. At the present writing it looks as if no valid reason will be of fered why this option will not be taken up and stockholders will apparently have to feel satisfied over the nega- tive answer that this organization will have reached in regard to this piece of ground.
 The market of this stock during the week has been considerably improved, due perhaps to the appreciation by some people that the property would soon become what might be termed a free agent with its control laying in the street, open to be purchased by anyone that would care to take 1t up. From it's low point of s1A, the stock has sold up to SIS. Transactions have been large and for the week have prob ably been in excess of 100000 shares. Most of the selling of which any trace could be made, has come from Phila- deIphia, and it is figured that over TO- 900 shares of stock were dumped on this market from that city.
 It is also figured that this stock cost the owners all the way from 8 a share upward. so the loss entailed in this sale foots up quite a pretty penny. On the other hand someone has been buying this stock but whOsOever these interests may be, they have kept their hand con- cealed by market manipulation. The result is that none of the brokers who are familiar with this security can throw any light on who the probable purchasers may be, or if they know | they refuse to tell.
 . Engineer Talks of Mine.
 The only new light that was thrown on this piece of ground during the week came from a statement of loca | engineer who is not interested in the property one way or the other anG who while admitting that the property Is mine. still claims that its profit able operation is flooded by a number of problems that will have to be solved He states for instance. that most o1 the ore developed to date has come from that portion of the property that is below Mineral creek, rendering il easily flooded when the proverbial tor rental rains attack this portion of Ari- zona He admits at the same time tha these conclusions can all be solved a some future date.
 At Ray Central the only work whicf has been going on recently has beer the operation of small mill. which ha: been testing the ore from the pOrphyrN mine No underground development ha: been in progress for some time, an sufficient ore can be taken out tC supply the testing plant. One drill ha: been operating on surface development Although the Ray Central property contains a fair tonnage of porphyrN ore, several physical conditions con front the management in the actual op- eration of the mine. The most far reaching of these is the fact that tn, greater part of the developed tonnage lies directly under the bed of Minera 1 creek, and the extraction of the ore b! caving will be a difficult matter, ow ing to the possibility of floods, whicl are very severe in the southwest. method of overcoming this objection would be to drive tunnel and deflec the stream from above the property This, however, would be costly. In ad dition to the possibility of surfac floods, the stream undoubtedly has considerable underflow. Another seri ous problem, which confronts the Ra, Central company is the inadverten construction of a townsite and tn selling of lots directly above the or
 bodies. Probably these two problems
 together with the limited possibilitie
 for the development of low-grade orc
 had much to do with the General De
 velopment relinquishing a recent op
 tion. The Ray Central property is
 consolidation with the Ray ConsOlidat
 ed. which company could leave the de
 veloped tonnage as an asset to b
 mined in later years. All these prob
 lems however should be solved at
 future date.