Arizona republican., 1918-03-18
RAY S|LvER-LEAD MAKESPAYMENT O\
 LEAD PROPERTIES

The final payment due on the option on the Haley and Souffrien lead prop critics near Ray has just been made by the Ray Silver-Lead Mining company, in which company a number of Phoenix residents, including J. F.. Rowlands, John H. Page, A. W. Lautz, Joseph Cassou. Dr. R. C. Fowler and Dr. R. w. Craig, are interested. Other large stock interests are held by parties in New York and there are many stock holders in Douglas, Tucson, Nogales, Hayden and Ray. John K. Erskine. Jr., of New York was in Phoenix this week and accompanied by the president of the company. Capt. William McDer- mott, of Tucson, several Phoenix stock holders and Supt. Jim Pollard, of Ray, made a trip to the mine. Upon their return MT. Erskine and others stated that the present showing is far beyond expectations.
 While the property of the mining company consists of 47 claims, small number of which are fractional, the de- velopment work is practically all upon claims in the original Haley and Souf- frien group and the ore extracted to date has been from the Cincinnati and Gladstone clims thereof. Thus the final payment to the old owners, who had located these claims, beginning in the year 1SS6, now places the title to this most valuable property in the Ray Silver-Lead Mining company. The capital stock of the company is s1.500,- 900. par value s1.00. of which 72S,S05 shares have been issued.
 From June 1917, to December 1, 1917, work at the mine had consisted princi- pally Of shipping ore. During this per- Tod 62 cars of ore were shipped, con- taining total of 2,111.11 dry tons. Af- ter the shelter deductions were made, the company received payment for 764, ,245.9 pounds of lead, 4,9O0.52 ounces Of silver and 146.15 ounces of gold. Af- ter all smelter and freight charges had been deducted, the company received from the 62 carloads the net amount of sS9,6sO.o7. These shipments were all from new ore bodies developed by the present company. the previous ore re- serves devloped by the original owners not having been touched to date.
 Beginning in December, 1917. mora effort was directed towards develop ment and equipment and less extrac- tlon or ore took place. Small gasoline nolstS were erected at the Cincinnati ana Gladstone shafts, these shafts were sunk an additional fifty feet each and well tlmbered throughout and the de- velopment work was continued from such lower levels. Considerable ore wa a shipped from development work. but the plan was to get the two mine Worklngs in such condition that the costs of all operations would be greatly reduced.
 It was stated that the examination
 or the mine showed that it's condition
 IS much better than ever before and
 tlal the latest develoDment work had exposed and proved large bodies of
 high grade sand carbonate lead ore. If
 is conservatively estimated that inc
 three months development work to
 March l had resulted in the amount of
 ore In sight being increased by an ad .
 ditlonal 1,5pO tons. The net cost of de- l Veloping this additional ore was ap-
 proximately $10,000. The ore in the
 Gladstone on the 100-foot level occurs on contact between the limestone
 and the quartzite and the work at
 present is being driven in both direc-
 tions on this contact. The large ore
 body in the Cincinnati occurs in a fis-
 sure in the limestone, with several
 cross fractures now appearing. At the
 bottom Of the Cincinnati shaft diorite dyke has entered the quartzites. but a
 drl1t from this level has been driven
 under the ore body, which has now
 been followed on its incline din to with
 in twenty feet of the level of the drift
 Thus the further development of thf
 ore body and extraction therefrom will
 now De made from the lower level. I,
 IS conservatively estimated that there
 IS now in sight in these two mine
 workings 10000 tons of ore and esti.
 mates place the amount of "probable
 ore" at 30,O00 tons.
 Production was increased the first oj
 March, improved pack train facilitje. 1. naVlng been secured and considerabl, ore having accumulated from the ex. traction from development work. Ship. inents are continuing this month at tn, Tate or carload every other day anc : the average grade is expected to bt apove 23 per cent lead The net re. ceipts rom this months shipment, VIII more than pay all costs of devel. . oplnent york as well as the total min ing and transportation expense. How ever. it is proposed that deveIopmen work should be continued at a faste rate and at greater cost than can h, done rom profits from ore shipments . In addition to following the presen , new ore bodies, develeSment of the ol, ore bodies in the old Gladstone work lngs and in the Silver Cloud claiu , should be prosecuted vigorously, As
 the main fault fracture can undoubted , " be prospected to advantage at addi tlonal places on these claims.
 such development might not includ sinking the Cincinnati shaft on in, dyke through the quartzite, but thi
 should be done as soon as possible i, } order to be reaching the depth at whicl , copper ore may be expected to be en
 countered. There is some copper show Ing in the Cincinnati ore bodies. but m l commercial copper ore is supposed fl
 exist in the upper limestone formation l AS this property is located in the wei 3 developed and large producing Ra, ? mining district it's future will h : watched with great interest.
 } Do not walt till tomorrow-phon,
 that WANT AID. to The Republica I and dispose of, or get what you wan, NOTICE OF BOND ELECTION Pursuant to resolution of the Boar