Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-07-07
ON BIC
MINING PROPERTY
FINALLY TAKEN
Eastern Capitalists Enter Def
mite Negotiations for I'M
p0rtant Interests in White
Oaks District,

SPECIAL coHREspoNoEHcE 70 MORNING JOURNAL
Carrzozo. y. NJ. July 5-The ne
gotiations looking To the taking over
Of the principal mining interests in
the White oaks district, which have
been under consideration for several
months, We're brought to a positive
deal last week when w NJ. Mcdonald
and Thos. y. Stanton. representative
eastern capital. took an option on the
Wilson properties, the Old Abe group.
the Harrison group, the North and
South Homestakes, the stevens claim
and number of adjoining proper
ties.
Aside from the first cost of the
properties involved i'm the transac-
ton and which the gentlemen who
have made the deal decline to state,
the new company plans campaign
of Improvement and development
which will mean an outlay of more
than a half million dollars. A power
plant Will he built from which the
current viii be transmitted To the
machinery.-ne and up-to-date--
which viii be- installed for the treat
ment OF the ore II is now the inten-
ton of the new company To locate
this power plant at some point on the
line of the southwestern, which Will
not be FOR from the mines al White
Oaks This power plant becomes nee
essary a in the deal concluded the
Wildcat company did not include their
recently instituted power plant with
Which they are furnishing power and
lights for CanZo2o and the mines at
Nogal and Parsons.
Experienced Mining Men.
Aroesrg NtrDonaId and stanton The
,,enti.,,., y.bo bo,,e heeu WORKING ON
thf, doal eo, eei.arol months mast have
in ~ nast r,ointainoa rbeir head
,,i,,,ters',,t RI poe From, Which noint
tho, have worked in Tho MINING busi-
,1.s ,,t,,ts 4, era,ind co,th A,ner
Ia tt,rdnel,,,,t No .sn,,tbvgegt ana tho
,.ostor,, ,,o,.tio,, ~ tbie ronntrv Ver,
o,iatl,. ala tbe, obtain q small claim
~ tbo Danter IF thege MI claims N
whit. oal,s fo, tho nurnoso ~ heine.
y, ~. osa,,nd sneci,oans of tba ore
,,''.. -, 49,. NJ. ,trI,on,ta III, IN
Tou. Vorl ana other aaetern noints
and shoy,, 40 some NJ MS aconaint-
.gnCas ,,ho wore i'm !, nosition ~ mr.
MIN NIX ,a,oss.r,. funds In devalon
H.. mimi
one difficulty he faced was that. to
interest men of large means he did
NOT have "a sufficient expanse Of ore
producing dirt ON his return he sue
cecded In getting other properties.
ana tre eastern parties then sent
Richard Wightman out to look over
the rield and make his renort His
raport was good but stiU there were
too few claims to meet the reauire-
ments of the proposed company. 1t
was then that the proposition was
forfoulated to take the matter M with
the priucipal mine owners ond opera
t,rs 4, thie district which was done.
with the result that all We're at last
willing to give the companv an option
ON their properties.
Naturally time will be REQUIRED to
finally close ND the numerous agree
ir,nts invoIvinp as they a. So many
pronerties and interests. bur as an
eyideuce that the entire transaction is
hona fida several thousand dollars
,ver. naid over to the White oaks mine
nu,nors as denosits ON the options
iaken Mr. Wiebtmau has again re-
turned "a his associates in the east
win - raa1 nronositiou -one which
means M. handling Of q laree aropp
If ,,,i,ee' ,,,, n lar0e scale
U.ou I.,,o,,.,, n,a,,o,.,ics
r,,i. ',,,.'','tt,'', iII.,d.s. III tho
~ Y "'la", w" $3.50 -.
"eli- u'l cup ~ 0P. 10 ~ ,.N,,,,,
Iuou"l"lH. A''oH5
az 'He u'u ~, 'u uer,,tt
property oi JUG Jun M"
ana Whteh mas Piu1"'eu oNVI q IN"
.l"h "uli"Is ~ SUI oi' a"u .Iao q
-haIl Gown ,oVV leT'' me ma c,ll, isu''
5IouP ~ W'itu az Wy W. i-"uE T p'.,r
,1i''le Nsli, MA o'iI,"., e anu -
hopes cialN's' SUM- vi mem WI ~