Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-06-15
treasure Mexican


the Guanahuato development Company,
Incorporated I'm New Jersey, controls
the Pinguico mines and the Mexican
1t is capitalized at s3.000.0o0 and pays
per cent per annum on its preferred
stock. And then there are the Guiana
huato Reduction and Mines Company
and others.
The Real del Monte Pachuca Mining
Company is another valuable property,
which has its chief offices I'm Boston This
COMPANY bought the old Real del Monte
mine in 100; and since that time its stock
holders have put almost $4.e0o1p into
the new plant and in development work
They PAID up the last Of their assess
ments in 1907 and since then they have
received. Up to July. 1870 almost four and
one-halc million dollars In dividends.
The mine Is one famous in Mexico It's
original owner was a mule drive. who
obtained possession OF II almost 30
wears ago. 1t proved to be bonanza.
and within half century II yielded more
than 81 ooOooO In gold. Its ownership
made the mule driver rich. he became
noted for his extravagances. and gave the
King OF Spain several warships fully
equipped. He owned the nine until
about 1900. when river burst into IL
flooding the works
twenty years. when an English company
took hold and the stock rose in value so
that single shares OF $500 sold In the
open market for $4,000. The demand
was such that the company went bank
rupt. and the property was finally sold
for $4,000. Shortly after that another
bonanza was uncovered, and within few
years over $40. 900 600 worth OF metal was
taken out. All OF this was by the oid
patio process The Boston company has
introduced modern machinery. and IL
now using stamp mills with cyanide
plant.
And then there is the San Toy Min
ing Company, incorporated in Maine.
with offices in Pittsburgh. which owns
valuable mines in chihuahua produce
ing silver and lead. That company did
about a mile and half of underground
work in 1910 and during that year pro-
duced more than $4,000 ounces OF sill
yer and a million and one-half pounds
Of lead. 1t is capitalized at $1,000 600
Another comapny is the Rio Plata Min
ing Company. located in the same state.
which has a capital or s2.00eOo0 and fs
paying per cent dividends. The Pro-
prietary Mining Company OF America
has an authorized capital of 100000
and has large interests IN Guanahuato.
and the Mines Company OF America has
capitalization of 100000 and 10
There is a great deal of United States
money invested in copper properties
The largest organization OF this kind
Is the Greene Cananea. which has an
authorized capitalization Of sso,0oo,oo0.
OF this. s50,o0o.ooo was for the pur-
chase OF the Greene Consolidated Cop
per Company and the Cananea Central
Copper Company, and the other SlO.-
100000 was left in the treasury. me
copper properties owned by this COM
pany are very extensive. Tney aaRe
tains, which are filled with minerals
and which have enormous veins OF cop
per, one Of the tunnels OF the Csnanea
mine having a vein thirty rect wioe:
men and it's monthly pay roll Is hum
dreds Of thousands Of dollars. It's min
eral output IL said to be about 5000
tons Of ore per day and in 1910 II pro-
duced more than 100000 pounds or
copper.
Another big copper company is the
Moctezuma Incorporated in West Virginia.
with an office in New York. This company
has thirty-eight mining claims In sonora.
comprising about 900 acres. 1t has lately
opened the Pelaris mine. mineralzed
body oval in shape which has been tested
down to the 1OO-foot level. It is LOO feet
in diameter from north to south and 200
feet from east to west 1t is being mined
through a tunnel five miles in length
which has railroad tracks to take out the
ore. 1t is now yielding from 1.500 to 1000
tons a day Of 3 per cent copper and II
has a power plant Of 1000 horsepower
which gives the electric current for the
mill and the mines. This company has
a capitalization of $3O0,000, all owned
by the Phelps-Dodge Company. In 1904
it paid 20 per cent. in 1905 "a per cent and
in 1910 IS per cent. 1t has already paid
more In dividends than the amount OF its
authorized capitalization.
And then Americans own the Pacific
Mining and Smelling Company, which has
large copper properties and also smeiters
They own the Mexican Metals Company.
whose Office is in Boston and which has
thousands OF acres of land in the state or
Sonora and also the Mexican Metallurgi-
cal Company which is capitalized at ST.
OOO, 900 and has mines of copper and lead
as well as a smelter at San Luis Potosi.
with a capacity Of 10000 tons of ore
monthly.
In addition to these are American in
vestments In oil lands, including some
which pay big dividends. and they have
great number Of other mining companies
with capitalizations which vary in size.
Some of them are paying big money ana
some quite the reverse.
FRANK G.. CARPENTER.