El Paso herald. (El Paso, Tex.) 1901-1931, 1912-07-13
MINING NEWS
CHARLES s. Smith BUYS arizona
COMMERCIAL MINE FOR 100000
New Company to Develop
Property; Development Is
Pushed on Inspiration.

company was sold by the receiver,
Charles r Rawlins, at a public sale
on the court house steps in Globe on
June II, to Charles S. Smith. president
of the new Arizona Commercial Min
ing company who bid 100000 for the
property, his bid being the only one
offered The sum represents the par
value of the bonds of the old com
pany, to be exchanged for stock IN
the new company. This IS virtually
the final step IL the reorganization
of the Arizona Commercial copper
company. The new Arizona CONNER
Cial Mining company IS Incorporated
under the laws of Maine with q cap
italization of 100000 shares, par value
S. of which 100000 shares Will De
given TO the holders Of the S1,OOU'eVU
bonds of the old company, l2O,OOV
shares will De exchanged for the 12O,-
600 shares Of the old company upon
the payment of So per share, which
money is now in the hands Of trust
company, and 10000 VIII remain III
the treasury. The treasury stock IS
under option at s. per share to the
parties that financed the reorganlza-
ton After the money expended by
the receiver for the Development of the
DrODertv during his receiYerShip, and
the underwriting, trust company, re-
ownership and other expenses have
been deducted, there will be nearly
S3OO. 600 left in the treasury for the
future Development work.
Regarding future development pres
ident Smith says. Equipment IOr
hosting from a depth of 1000 feet mas
been ordered for the Copper Hill shaft
and I hope to see it erected and IN
operation within 80 days. The double
drum steam hoist at the Eureka SHAFT
Will be moved to the Copper Hill smart
and will be electrically equipped and
the air compressor at the former shafI
will be moved to the Old Dominion
power house. An air line and cleo
trio power line viii be built to the
shaft from the Old Dominion power
air than we could obtain by having
our own steam plant. In the mean
time we will continue retImberlnS ana
charging the shaft with our present
equipment and Will be oulI9lhg Nne
new head frame. The railroad VIII De
leased to the Old Dominion company
under some equitable arrangement
whereby they viii haul our ore and
freight as with their railroad equip
ment and repair shop, they can oper-
ate il much mere cheaply than we
could.
After the shaft has been equipped
we will begin aggressive mining ana
development work on the SeVeral !
veins. We believe that the vein which
has thus far been worked is a con-
tinuatiOn Of the Old Dominion VEN |
and experience IN the Ola DOMINION /
and GRAY mines leads US to DeIleFe !
that good bodies of ore will be found. /
The ground has been pretty wen
stopped out above the 4th level put !
think considerable ore viii De Iounu /
between the 4th and Sth levels, the I
latter beine, the lowest level to which /
the old workings extended we eA-
pect to find our best ore however a.
2 depth of from 1000 to 1900 feet
The other veins Will be explored at
various levels Profitable ore has
been taken from the adjoining United
Globe mine within few hundred Ieet
of our end line, and l beneEe Ihat 2
similar ore will be found within our
lines. The 4th level is now connected !
with the Sd level Of the Gray smart 4
of the United Globe mine and arrange
ments will be made with the Cnlleu 4
Globe company to make further con-
nections at greater depth to comply 4
with the new line inspection law !
which states that more than one /
means OF egress shall be pro'lueo LoI 4
men engaged in stoplng operations
'The arrangement will also give ven
tilation to both mines and shoul9s :,
prove economical to both companies
Development Work Pushed.
The main west shaft of Inspiration 1
is 10 feet deep and go
ing down at the rate OF over i've
feet a day The main east smart mas ;
inst been started. a head frame - I
beine. erected and p n. p FalrDanks- {
Morse gasoline hoist installed Lhc
Scorpion shaft was sunk III feet laSl 4
month. Sinking of the two Live OAK
shafts continues and number two VIII
he finished in q few days after which /
4be deyeIopment of the Live Oak ore /
bodv will be started On the lnsplr-
alton ore body, the first haulaSe lever /
is being oDened up 90 feet below the
tunnel level Is faces being worked |
A large number of raises are DelhS /
driven above the tunnel leNel m
creased compressor capacity, the To-
tai being now $500 subic feet OF free
no nor e.
crease in underground development
work. the total for June being oFSr
. 700 feet. It IS estimated that To-
OOO, 600 tons Of ore are eXIr1CIaOIe
new wagon road IS being built from
the mine to the mill site l i miles
distant. Development work IS pens
rushed faster than CONSTRUCTION tHc
be finished by the time the mine can
be made ready 10 produce Inc only
important construction work yet
started is that of the pumping sta
lion on Pinal creek
Engineering Society Meets.
The first regular meeting Of the
Miami Engineering society at winch
papers were read and discussed, was
held this week The society mas
about 80 members, consisting OF the
technical staff of the Miami copper
COMPANY General manager B. -
GOttsberger is president, and mill
superintendent Z. ". Solomon, vice
president of the new society, Whlcn
has been formed for the purpose OF
giving its members an understanding :
of the work being done outside OF
their own departments thus broaden
ING their knowledge of mine operation
Meetings will be held monthly at
which papers prepared by the mem
bers Will be read and discussed
Churn Drilling Continues.
Churn drilling continues steadily at
the Southwestern Miami and fair
progress is being made Holes 6, q
and s. are $50 $50, and $40 feet deep
and are all in the schlst
formation Hole No 3, which Is being /
drilled Jointly with Live Oak and the
Barney Group, is $50 feet deep in the
same formation None of the holes
nave vet reached ore.
Churn drill No. ? of the South Live
oak Development company has been
started in the granite formation at
point of about 500 feet westerly from
hole No l which has just been dis
continued at a depth Of SIS feet. The
new hole is now over 10 feet deep
in iron stained granite
Arranges to Ship Ore.
John Gibson, superintendent Of the
Independence mine, II miles south
vest of Miami. being operated by the
Mining company, IS IN
for the !