Weekly journal-miner., 1916-05-10
MICHIGAN MEN BUY COPPER
 PROPERTY
NEW JEROME VICTOR EX- TENSION COMPANY TO DEVELOP FORMER HAY MES HOLDINGS.
(From Thursdays Daily.l (By William P. De WolD

(By William P. De WolD
 Capital for investment in Yavapa county mines and prospects has o late become available in increasing amounts. The East, Middle West Pacific Coast, Great Lakes section anC the South are financially interested II the mines of this county and are rep resented on the ground by mining engineers of acknowledged ability anC repute These men are favorably i'm pressed with the ore-yielding possi bilities of Yavapai county, and, as : class, hold the conviction that tht mining industry of this section offer: financial opportunities on more di versified scale than elsewhere. IT corroboration of that opinion they point out the fact that not alone golC and silver are being mined here al large profit, but also tungsten, lead copper and zinc.
 Prominent among those who have of late invested heavily in the mines here is a syndicate of Michigan men most of whom are prominently iden tiied with the great copper mining and banking interests of Calumet Backed by ample capital and having at its command the services of mining engineers who have made good the rich copper fields of the Great Lakes section, this syndicate has entered the local field with the intention of en- gazing extensively in mining copper. Its initial venture has been made in the Verde district, but it is understood the taking over of property there is to be followed in due course by in vestme-ts in copper propositions else where in Yavapai county.
 Michigan Men Incorporate.
 The property purchased by the Michigan people was formerly con troled by the Haynes Copper Com pany. It comprises eight claims, ad- joining holdings of the famous Unit ed Verde, and was located by Chris Harryhausen at the time he was un- derground superintendent of the United Verde mine. The new owners of the Haynes group have incorporat- cd the Jerome-Victor Extension Cop per Company for its development and will list its shares on the New York and Boston curbs. The company Is capitalized for 100000 non-assess- able shares of par value of Sl each. The initial authorized issue of 200000 shares was offered to the public yes terday, and was oversubscribed within few hours al par. The stock is very popular in Prescott, Jerome and throughout the Southwest in general So popular in fact, that it is now being traded in locally at an appreciable advance above par The foregoing facts are mentioned as being indicat- i've Of the faith the people of Yavapai county have in the company and its copper holdings.
 The officers and directors of the Jerome-Victor Extension Copper Company are prominently identified with the mining and banking interests of Michigan and orc amply able to give the corporation the necessary f. nancial backing. James T. Fisher, president, is cashier of the State Savings Bank of Larium, Mich; Brainard Avery, vice-president, is a member of the law firm Of Avery & Whiting, of New York City; ]. B. Patton, secretary, Is cashier of the First National Bank of Larium, Mich; J. P. Petermann, treasurer, is presi- dent Of the State Savings Bank of Calumet. The before mentioned, to- gether with A. H. Floeter, A. r. Heidkamp and D. r. Printz. compose lilG NIL lS NlllNi mining engineer of the Mohawk & Wolverine Copper companies; Mir. Heidkamp is vice-president of the Citizens National Bank of Houghton, Mich. and Mir. Printz is a prominent manufacturer of leather goods at Reading, Pa.
 Development Plans.
 Development plans so far as out lined have in view the working of the property on an extended scale. To that end the old main-working shaft. located approximately 1000 feet from the four accompaniment shaft of the United Verde Company, is to be i'm nediately unwatered so that the com pany's engineers may make a thor ough examination of the ore bodies and lay out the lateral work which is to supplement that done to a depth Of l-2OO feet during the Haynes regi' me. whose period of activity ended in 1914 owing to a lack of funds Since