Arizona republican., 1911-01-02
A GIGANTIC MINING DEAL
Parties Directly Interested Refuse to Confirm Ru- mors That Monster Con solidation of the. Arizona Properties Is Effected.

Reports that a gigantic mining deal as important to Arizona as any ever made has finally been consummated have reached Phoenix from New York and Winkelman. These re- ports are that the Saddle Mountain, LOndOn-Arizon and other adjoining or adjacent copper properties have been consolidated and will be taken over by the Guggenheim interests shortly after the first of the year.
 That the Guggenheims have long had envious eyes upon the Christmas mines, which include the Saddle Mountain, London Arizona. Ball and several other groups, has long been an open secret.
 It is stated at Winkelman that Guggenheim engineers have conduct ed exhaustive investigations of the mines around Christmas and that one of them recently leaked. He de- clared that the Guggenheims had closed a deal for the Saddle Noun tain and London Arizona and before they had completed their negotiations would probably take in several more groups.
 Reports of the time the Guggen- helms will assume control of the property they have secured vary somewhat. It has been understood at Winkelman that the transfer would be on the first of the year but New York advices are that it will be delayed a week or two long CT.
 Elaborate precautions were taken by the capitalists concerned to keep the fact that such a deal was in the air from the public. This was par italy because the prices of Christ mas claims would be sure to rise if it became known that the Guggen- helms were invading that district. Stocks in the Gila Copper Sulphide. LOndOn-AriEona and other companies would go up and that. to the parties engineering the deal would have been undesirable.
 Strenuous efforts have been made on the part of New York mining re- pOrters and mining men to verify the rumors flying so thick and fast. but beyond the fact that such a deal is pending they have been able to learn nothing. The parties most directly interested have steadily refused to give out any statements.
 It is understood that now the Gug- genheims have closed negotiations for all the claims that are essential to their plans. though they tried to get hold of one or two properties whose owners declined to sell for the fig ures offered.
 George B. Chittenden. the original organizer of the Saddle Mountain Mining company. has had something to do with bringing the Guggenheims and the Saddle Mountains present owners together. His son. Horace Chittenden. is taking an active part in arranging the details
 The old Saddle Mountain company was in a bad way when the inter- ests behind the Development Com pany of America. which owns the Congress, Silberbell and Tombstone Consolidated mines. took hold That was about a year ago. the deal be- ing closed in Phoenix The Gila Copper Sulphide company was or ganized to hold the Saddle Mountain
 Development work has been stead ily prosecuted by the new owners. During the year a four compartment shaft has been sunk to a depth of 700 feet and ore much richer than any ever before found on that group has been discovered. The average value of the ore uncovered under the old management was around three per cent, which is about double the average of Ray Consolidated ore. During the Saddle Mountain regime the gross production was SS0O,00O.
 The ore of the Saddle Mountain Loccurs in a formation known as saw tooth porphyry" The ground is un- derHaid with pOrphyry. the surface of which is uneven. like a range of mountains. The ore lies in enOr- nous kidneys between these teeth"