Bisbee daily review., 1918-02-24

on" the Little Daisey (as the local men knew the United Verde Exten- sion company. he was not wealthy man. as wealth is considered now adays. To be sure, he beionSed to the Douglas Family" which meant that he was of the blood royal from a mining standpoint But he WIS a younger son. and. though he had been getting and earning oig money he was salaried man, and he knew that it was up to him to get hold of some thing of his own in order to make himself really felt in the world of ! finances and mining
 In Yavapai county. and in many i parts of the mining and investment world. when people speak of Doug | las new they refer to James s. Douglas. the younger son. And. in variably they speak of him with ad- miratiOn as a man who made god. and as he grew fourc it possible 10 , take pleasure ir making fortures for his friends and those who stood by ! him when success was problematical This thing alone singles him out as distinctive personality. since the rule in exploitation. especially in mining. has been for the big men lon the inside" to buy ap the stork of all the little folk who haven't the means of posting themselves before the actual value of the property could become known. and. if necessary. to shake them out" by some device. Instead of doing this. Douglas made it . point to advise his friends. and among them were many of the workmen on the property, warning them to hold when. by word. he could have secured their stock for himself at q fraction of what he knew its value to be.
 AS a consequence the stock of the United Verde Extension company is widely scattered among many small holders in Arizona and California.
 It was in 1912 that NIT. Douglas de- cided to finance the Little Daisy. He undertook the work at the suggestion of Maj. A. J. Pickrell. another man who is thoroughly familiar with Ya- vapai possibilities.
 At this time many knowit-alls grinned deriSively at Douglas "fOol- ishness.- But he had confidence in his property. He put his money and told his friends about 1t. He appealed particularly to veteran mining men and engineers of his acquaintance. They had confidence in him and his knowledge of mines. and they banked on his confidence and backed him strongly. Among those who helped him in the innitial financing of the property were John K Tener Of Pittsburg. George and James Douglas and his brother Walter. James HOat- son of the Calumet & Arizona com pany, John c. Greenway. and a score of others equally familiar with Ari- zona's mining history.
 Under the management of Mir. Douglas things began to hum on the United Verde Extension. One Of his first moves was to bring in David Morgan as superintendent Mir Nor gan was at the time in the employ of Frank M. Murphy He and Mir Doug las had worked together for many years. and they knew each others methods thoroughly.
 Douglas and John K. Tener rut up an initial $s5.0O0. They thcn raised $20O.O00 more among their friends They later raised another S50.O00 by selling 50.000 shares of stock at Sl per share. This was used up turing the summer Of 1914 Then Or. Doug las and Mir. Tener advanced the com pany S25.0O0 personally. since the company had to have the money. ana they did not want to ask their friends for more.
 In he meantime a brlnch of the Santa Fe from Cedar Gslde 70 the new town of Clarkdale put tSs prop erty into direct broad gauge s0nnec- ton with the outside world This was a big advantage. It reduced the cost of supplies and insured a much lower cost of getting the cres to mar ket when (and lF) they were Nund
 This when tand lFl were beginning to loom up very large. The Arkansas and Arizona people to tue north Of the United Verde had quit work after spending over $60O,O0O in sinking l600-foo. shaft. The Hull interests to the south and west of the United Verde were unable to get more none ey and had abandoned work on the Hull and Cleopatra properties. The Haynes property (later the Jerome Victor Extension and now the Vest United Verde. is just south Of the Little Daisey. The mana cement osI this property were unable 70 raise the money necessary to pay tLe'r cr-ren, bills and the company was forced into bankruptcy.
 On every side were properties at a standstil for lack Of coin. On mines where hundreds of thousands of dol lars had been spent in absolute good faith the showing was not sufficient to enable the promoters to get more backing.
 And the Little Daisy was one of the also rans." But Jim" Douglas really believed it was different What Is of more i'm