Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1911-01-16

'li lilcii ltSStE prices Noulu itdN
! tn he expected unless a still NOR
summary curtailment could he en-
forced
Increased Capitalization
The Live Oak Development com
pany win increase it's capitalization
from $500. OO0 To $1,000. 900 at a spe
cial meeting of stockholders to b,
held at Bisbee on January a. accord.
ing Ia a statement just issued by Vic,
President H. II. Hovland. The addi-
tiOnal stock will not be sold at once
but will be dispoced. of as the money
is needed for. current development
operations. Fifty thousand shares oi
the par value of SO will comprise the
increase in capitalization. but In,
price at which the new stock will De
offered present shareholders has not
been decided upon.
II is understood here that the Bos-
ton firm of Hayden. Stone K Co. will
underwrite the entire issue. That
company recently had an engineer
examine the Live Oak property.
The statement of Mr.. Rowland
which bears the date of January /
states that the estimate tonnage of
developed ore at the Live Oak is
100000 tons and partially developed
3.0O0.000 tons with an average copper
assay of 2.25 per cent. which is con-
sidered by local persons familiar with
Live Oak developments. as very con-
sentative.
The issuance of the statement at
this time indicates that il is not the
intention of the officials of the COM
pany To reOrganiZe into a mining
company for at least a year. or until
such time as market conditions win
have improved. The general impress
sion locally is that when it does re-
organize the Guggenheims will he in
control of the company. as well as
of the Inspiration company.
The financial statement accompany
ing the one just issued shows that
the company has expended a total Of
1902 PSI 81. leaving a balance on hand
January l. of S9S.219.S1. The next
payment on the property due Deem
Der next. amounts To $10.SO0 and
the final payment Of s377.00O is due
one year from that date.
Twin Buttes Improvement
Approximately 100000 will be
spent in developing the Twin Buttes
mine during the present year to
bring it To a point where great pro-
duction will he possible. according
to President Michael Earle Of the
Twin Buttes Mining company. Thus
il is expected that 1911 will prove
the biggest year in the history Of
Twin Buttes' development since its
inception. says the Tucson Citizen.
Extensive sinking and drifting will
be done and considerable additions
will he made to the machinery equip
ment at the mine A new air COM
pressOr will be installed. New boil
ers and a larger engine will also be
secured. For the present the force
of men at work at the property
-. will not be materially
increased
Relative To smelter. rumors Of
which in connection with Twin
Buttes have been somewhat frequent
Is circulated President Earle stated
that the company has N view two
propositions-first. that of the Ari-
IONA Consolidated Smelling and Min
ing company. and. second. the Wa
ters proposition. of which mention
was made i'm Mr. Earle's recent re-
port To the stockholders.
For the present. at least. We will
continue our shipments Of the ore.
To 1900 tons per month.
tn the FL PasO smelter." he said.
we are not thinking Of erecting
smelter for ourselves.
The occasion for Mr.. Earle's pres
ant visit To Tucson is the annual
meeting O stockholders and direct
lrs, which will be held here next
Before the meeting takes
place the Milwaukee interests are
expected To arrive. They comprise
ormer Mayor David s. Rose. Robert
Shephen II. HOff. j. W.
Barber President Meyer Of the Mey-
n Boot and Shoe company. Mr.
Sampel Adler. and DR..
Warren Il. Hill. one or more Of
hese may send proxies
Mr.. Earle expects In spend about
hree weeks here. So much does he
njoy the Tucson winter climate