El Paso herald. (El Paso, Tex.) 1901-1931, 1912-02-21
WITHWI WnW
D0yBIE61GAPITAL
Southwestern Miami VIII
Push Explorations on
a Large Scale.

Globe, Ariz.. Feb. 21.-At the annual
meeting Of the stockholders of the
Southwestern Miami Development com
pany. held in Globe it was voted to
increase the capitalization from $4,000
shares to 100000 shares, par value So.
The increase of $4,000 shares was taken
by William A. Paine. OF the firm Of
Paine, Weber & Co, of Boston, and
associates, at 81 per share for 81 paid
in stock which, with the money re-
ceiyed from the recent call OF 81 per
share on $4,000 shares viii give over
S2O0, 600 for payments on the property
and for its Development. There are
now issued and outstanding $1,000
shares OF full paid stock, and $4,000
shares Of 81 paid stock upon which 50
per share can still be called, giving an
additional $3.50, 200 should il become
necessary.
1t is proposed to purchase Two addi-
tional chUrn drills making three IN
all, and continue the aggressive explor-
alton Of the property. 1t is estimated
that the money now on hand viii be
sufficient to meet the payments on the
property, purchase the additional
equipment, and operate the three churn
drills for nearly two years. or until
January /, 1914.
The officers OF the company are:
President George 4. Ruez, banker and
broker, Ishpeming5 Mich; vice presi-
QG4AAa T. AAChNEhEAa VICE pAGrA~AI-AA u
the Copper Range Consolidated com
pany: secretary and treasurer, Robert
II. Gross, president Of the East Butte
Copper Mining company The above
with the following make up the board
OF directors. ThOs s. Dee, OF Paine,
Weber & Co, Boston, Mass; d. T.
Kennedy, Boston, Mass; Geo. J. Mas,
Negaunee, Mich; and H 3. HoVlancs
Duluth, Mimi. formerly president OF
the Live Oak Development Co, and now
q director of the Inspiration Consoil-
dated Copper company.
Live Oak Enlargement Starts
The enlargement OF No. shaft at
the Live Oak from two TO three com
partments has been started Jack Nc
Ivor has the contract for the work ana
has hired some u the best miners OF
the district The shaft is 92S feet deep
and viii be enlarged by raiginE from
four or five different points It Is eX-
pected that the work will be flnlsneo
in about two and a half months IN
the meantime a double-drum MOIST ana
two $50 II. p. boilers Will be erected
and DEVELOPMENT Of the ore body from
this shaft viii be resumed as soon as
the shaft work is finished. DeEetoP
ment is now in progress from No
shaft near the eastern end of the prop
erty- n. E Mccarthy IS superinteno-
The churn drill hole that is being
drilled in the bottom OF the 400 smart
on the Barney group, under option 20
the Lewisohns, has passed out OF me
schist into dacite and Is now over egv
feet below the collar OF the shaft T.
q. Tinker is superintendent
work on Dam Progressing.
Work is progressing on the water
supply dam for the Inspiration Con-
soiidated concentration and tests are
stin being conducted by J. n CalloW
in the experimental mill trestle ls
being built from the mouth OF the main
tunnel to the site OF the new steer
warehouse
The Miami mine IS producing at the
rate Of over $500 tons per day from tne
400 foot level and development on the
$40 foot level continues Five UNITS OF
fbe coneentrator are in operation In
place OF the rigid rolls, HardingeS
BAH mill is being tried out in one UNIT
and q set OF spring rolls In ano[Rer-
NeaffF SEQ men are employed