Arizona republican., 1911-03-02
RAY CENTRAL STOCK
 0N THE DOWN GRADE PHllADELPHIANS SEEM TO BE SCARED ABOUT SOMETHING. A Few Remarks On the People Who Made 1t Business To Op-
 pose Mergers.

| Philadelphia holders of Ray Central
 still continue to hand the stock out
 freely. under the reasoning that it is
 better to take $1i4 pr $1h than soc 1 or less. The stock was sold down to
 Sl 5-16 last week by New York houses. but rallied again to s1ia. after liqui-
 dation had temporarily ceased It is understood that New York interests ! dislike the alleged misrepresentation
 contained in the official statement that the experts report showed G. | 5OO,000 tons of ore in sight when ac-
 tual figures were 5.OO0.OOO tons of
 positive ore and 1.5OOOOO tons of probable ore. says the Copper Curb
 and Mining Outlook.
 As certain erstwhile New York in terests have put it. Ray Central is a | good little mine" but that is all 1 It is further felt that the buyers of the s100O0O worth of bonds recently
 sold knew what they were doing. and 1 that they will ultimately protect their i equity in the property. if the worst comes to the worst, by buying the property in under foreclosure pro- ceedings. As these bonds netted the
 company $50 on every S100 sold. and | as only S2OO,0OO worth was sold, the property would be cheap at the price paid for them. namely, S160.OOO. The chief trouble with Ray Central | is that all it's future is in sight. and
 as it is hemmed in on all sides by either unfriendly interests. or proper ties that have no ore. there is no chance for it~to consolidate profitably.
 It is believed here that local inter
 ests recently elected to the boars will resign after they have attended
 one meeting and have learned for | themselves just what is what. At the Property
 There is renewed activity in the
 neighborhood of the Ray Central
 mines since the visit of the New York
 officials last week. and the outlook i is good for considerable development work to be done on that property this year says the Ray Copper Camp. Mir Earling. who has been with the 1 Boston & Superior at Globe. has been made engineer in charge. while Frank Probert will be consulting engineer and will be consulting engineer and will make monthly visits to the prop erty.
 H H. Mcdonald is the superin- tcndent in charge, and MT. Rawlings has been sent down from Phoenix to do the stenographic work at the of flee
 Work is now in progress on the first. second and fourth levels under ground. and second drill has been set to work at the Calumet claim. The drill hole is now down 100 feet and good results are predicted.
 Wealth of La Pax
 The Goodman ledge on the Colo rado river slope of the Domes yield ed mill run of S16.OOO a few weeks ago. The Goodman is one of the several lodges that are supposed to have supplied the millions in placer wealth that made the city of La Paz a city of 10000 souls in the early sixties. It was formerly known as the Ravenna mine, and was owned at - one time by Tom Goodman, whence the present name.
 For couple of decades mining men have contended that the rich placer gulches that were worked by Spaniards at a profit even before the advent of the Anglo-SaXon were supplied with their auriferous store by ledges in the Domes. but the pres cnt working of the Goodman is the first intelligent and systematic at