Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-01-09
SAVANNA COMPANY
MANAGER HAS
RESIGNED
Chief Engineer Stauber Sue
ceedS {, A. Wayne Things
Moving in Grant County Min
ing District.
(sllver city independently

AollNtI OllN independents
The resignation of e. a. Wayne rs
manager of the Savanna Copper COM
pany which has been under considera-
ton by him for a number of months
and which is reported TO have been
sent in several weeks ago, has finally
been accepted by that company, which
has designated ]. j.. Stauber to fill the
vacancy created. Mr.. Wayne a been
the manager of the Savanna company
ever since its organization, and though
he has now relinquished it's manage
ment in order to devote his time ex-
clusively to other business matters in
which he is or will be interested, he
still retains sufficient interest in that
organization, of which he is a large
stakeholder, to make It's success a
matter OF qualification to himself. The
board of directors were not at all anX-
ious to accept his resignation, and only
did so after a considerable correspond
ence on the subject.
/. j. Stauber, the new manager, has
already assumed charge of the COM
pany'S extensive interests in this local
ity. He Is IN expert mining engineer
and came here from Bisbee, Arizona,
about two years ago,a at which place he
was employed on engineering work at
the Shattuck mine. He came here to
accept a position as chief engineer
with the then Copper Gulf Mining
company, and when that company was
merged into the Savanna he continued
in the services of the new organiza-
ton. Mr.. Staube is thoroughly COM
petent to profitably and economically
manage every practical part of the
company's business. and as he is ia
maliar with every detail of the pres
ent and future plans of that organiza-
ton, his appointment, or, rather, pro-
motion to the responsible position he
now has, is not only a much deserved
one, but at the same time when judged
from a purely business standpoint a
very sensible one. He has been at the
scene Of the company's operations at
the Copper Gulf and Comanche camps
in the Burro mountains continuously
for the past two years and had per-
sonal charge of the surveying of much
OF tina company's extensive holdings
preparing the same for United
patent.
Santa Rita.
Matters are moving rapidly in Chino
company affairs these days
Announcement was made last week at
the office of Shove, Aldrich &c COM
of Colorado Springs that the ella
& Ray Copper company and the Chino
company would ~amalgamate
in the near future. The a~malgama-
ton when completed will be one of
the largest corporations of his kind
in the country. A director of the COM
pany also makes the following state
ment:
THE Chino has developed very rap
idly, and we are now prepared to +,
a 2,500-ton mill. We were a
at a loss to now just how we
should finance, this owing to the ex-
Istence of options held by the people
who sold the property. If they had /
determined TO hold those options until
maturity, We should ave been obliged
% issue convertible bonds, which we
lhould have been reluctant to do, as it
would unnecessarily have increased :
he outstanding capital when the I
were converted and the options !,
Exercised. am very glad to state, r
that these interests, in the r
,roadest and most liberal way, agreed a
Immediately to exercise their options i
nd have done so, which financed the e
ompany without the requirement Of
issuance of new securities other
han the exercising of the options. n
This gives the company outstand- =,
1g 100000 shares of stock, and for ~
he 275, zoo shares which We're in the
reasury $1,375,OO0, which brings the
resent working balance UP to quite a c,
tile in excess of $500. 900" "
The properties of the company are
up most favorably under de- s.
eiopment. The churn drilling so far
as disclosed between seven million L
nd eight million tons OF ore. It is Of
lightly higher grade than that of L
lost other properties or disseminated II
re mines, averaging almost two and
ve-tenths per cen A considerable II
Drtion of the ore lies sufficiently near St
lie surface that il will be mined IT
by the open cut or steam ~,
lowell process. -
Sylvanite.
Col. Jim Wicks of Goldfields, New, =
IS closed a deal for the kn~ickerbock- VI