Weekly journal-miner., 1916-06-07
GREEN MONSTER PROGRESS E
 REPORTED
LETTER TO STOCKHOLM FRS SUBMITTED BY THE DIRECTORS YESTERDAY 3oO,00O SHARES UNISSUED
Special Correspondence.

Special Correspondence.
 JEROME. May 3O.-In letter is sued the stockholders of the Green Monster Mining Co.,. from Jerome. Tuesday of this week. the following ;s submitted by the directors:
 The recent issue and sale of 700.- 600 shares of the stock of your com pany was a complete success and the issue was very largely oyersubscribed. The proceeds of this sale ar available for the extensive work contemplated in the development of what IS one ot the largest mining properties in the Jerome district.
 "At the present time there is more than S5O0O00 in the treasury and as it is impossible to fully develop this great work within period of months the major portion of the treasury funds has been placed on deposit witr strong banking institutions in Ari- zona and Texas. on certificates of de posit bearing I per cent interest. and the income derived from these d. posits. amounting to about SlS,OOO per annum. is much more than sufficient to take care Of the overhead expense of your company and will provide q considerable increase Of cash capital.
 There are 3O0.0G0 shares of the capital stock of your company un- issued
 Work Of development is being done on two promising claims Of th2 Green Monster group. the Cliff and the Revenue
 Owing to the complex geological conditions encountered, it has been deemed wise to make a thorough eX- ploration of these properties before attempting to sink a shaft. in order to determine the most scientific an l economical method of uncovering ;he ores which are confidently expected to be found at depth.
 "Ore assaying about SC per ton has already been found near the surface in the Cliff workings, and low grade ore is encountered in the Cliff ana Green Monster tunnels.
 Advantage Is being taken of some Of the old workings on the property and while they are not available for use at great depth, yet they are oi material benefit in saving time an ] money and with the new work being done on them. will be useful in the development for several hundred feet in depth.
 "A most promising outcrop on tse Revenue claim. more than 800 feet ir length and about % feet in width. is being developed and by extending 9 short tunnel nearby for about 300 feet, the outcrop will be reached at depth Of nearly POO feet. thus determining the advisability of sinking deeper.
 "On the Badger claim by driving q tunnel from the old workings. con ncction will be made with the inclinc'l winze of the Brookshire claim and develop that property at considerable depth At present it Is impossible to further develop the ore in sight in the Brookshire on account of the wat CT in the old inclined winze but as this new tunnel from the Ba1ge- claim will intersect it at lower level ii will be an easy matter to dewater the old workings and explore the orc body said 10 be at the bottom of the incline
 Tt is intended to begin work al once on the promising outcrops or the Amazon claim and should thcv prove up to expectations, deep shat will be sunk and cross-cuts driven a; depth to intersect the ore bodies.
 "A very complete geological report on your property accompanies the let ter and it is the intention of the di rectors to keep the stockholders fully informed from time to time. of the work accomplished and contemplated 10 the end that they may be in close touch with the development of their property
 The directors of the company are: Neill E. Bailey. Thomas Taylor. Dave Morgan, w. A. Drake and W. <. Hur,bcrt