Weekly journal-miner., 1916-07-19

the Commercial mine-shipping 100 tons of copper oxides daily - the Loma Prieta, showing 70 feet Of chal- copyrite in its shaft - the Schuber Copper. the Copper Hill, and the Nc Nulty & Mcbride holdings, all of which appear to be in line for produc- ton after the necessary amount of development has been done. Copper Basin is directly tributary to Prescott and is considered to be the most promising copper ore section in YaT- apai county, aside from the famous Verde district. R. NJ. Martin, owner of the C. B. s. is said to have one O. the best copper ore showings in the basin, and this opinion has been strengthened by disclosures in the old workings which were recently cleaned out and placed in working order
 Block Out Large Tonnage.
 Six hundred thousand tons of ore is blocked out on the ,400-foot level of the United Verde Extension mine. A careful sampling of this large ton mage shows that it averages about l6 Ter cent copper to the ton. It has been developed by about 2,000 feet q lateral work and by two upraises of 100 feet. A winze is being sunk near the center of this ore body, the ob- jective being a depth of 200 feet. The management has in view the sinking of a new double-compartment shaft to be used exclusively for hoisting ore. Upon completion of this shaft and of the winze before referred to, the shaft on the company's Edith claim will be sunk to the sulphide ore area.
 Approximately 1000 tons of ore carrying an average of 20 per cert copper is being shipped to smeltcT each month from the Verde Exten- sion property. The new profits there from for several months past have been about S35O,OOO per month. The company has cash on hand totaling S7o3 3,SS272, and has due 1t from ore shipments approximately Sl,OOO,OO0, making a grand total of Sl,793,SS2.72. Despite this large reserve, it has been decided to accumulate an even larger surplus for the purpose of developing the mine and building a shelter for the reduction of the com pany's ores. Quarterly dividends oi 90 cents per share will, however, not be affected by this decision.
 Hull Copper Deal
 Save for minor details the deal is practically closed whereby c. w. Hui transfers his mining holdings in tho Verde district to the Clark interests. One million dollars is said to be the amount involved, and, iR considera- ton therefor, Hull turns over his ih- dividual holdings and likewise his controlling interests in the Hull Cop per, Consolidated King, Columbia and Cleopatra Mining companies. Deeds have already been issued transferring Hulrs individual holdings to the Clarks, and passing to them of his controlling interests in the companies mentioned is said to be assured. in fact it is probable the deal will hay, been closed before these dispatches are in type.
 It is not, however, so certain thal the United Verde Copper Company as such, will take over a controlling interest in the Hull corporations :,s soon as the pending litigation is set tied, reports to the contrary, notwith- standing. From apparently authentic sources of information, 1t is asccr- tained that Charles w. Clark, son oi former United States Senator w. A ! Clark, owner of the United Verde mine, will soon take over Hull's shares, as trustee. He will then be come the controlling stockholder and will replace Hull in the pending liti- gation. When matters are finally ad indicated by the courts, the Hull Copper, Columbia, Cleopatra and Con solidated King will be rc-financed ;n, 1 dependently to the United Verde Company. Ultimately, however, the properties will doubtless become . part of the United Verde estate.
 Mill Nears Completion.
 August 1st is the date set for start ing the oil-fotation mill of the Stod dard Reduction Company, designed for treatment of the ores Of the Cop per Queen Gold and Stoddard Mine: Companies. Development of bott mines is underway and is being push ed by three shifts of miners.
 c. c .Lemon of London, England