Weekly journal-miner., 1919-05-14
SWASTIKA DEAI. IS CLOSED FOR
 BIG SUM
(From Sundavs OaIIy)

F. w. Wood, President of the Swastika Mines Co.,, has successfully negotiated a deal for that group of silyers, situated in the northern slope Of the Bradshaws and near the famed Peck mine. Negotiations were con cluded on Friday with William Brown, \. Frantz. John Faulkner, and C. E. Baton. all of whom were in the city. and while the considera ton was not given out, it is under stood that a large sum iS involved Frank W. Giroux. who had held a lease and vas operating the property at the time, also figured prominent lv in this transaction Immediately after the ratification of the deal ar tiClcs of incorporation were drawn for the new mining movement. which is to bear the title of the Swastika Silver and Copper Mining Co.,, and officers were tentatively agreed to. to.
 It was also decided to conduct business with close corporation, and interested are the following stockholders: L. \. Frantz. William Brown, F. l.. Garrison, J. 3. Pursell, W. \. Minter. w. F. Deegan of Hunt ington and Charleston, West Vir- ginia, while of Prescott are C. E. Baton and F. w. Giroux. Mir. Cir oux was unanimously rendered the office of General Manager and As sistant Treasurer. his record during past operations of the propterty, his tnoroughness as Q practical miner, and his success when leasing, being undisputable recommendations
 The West Virginians whom this deal is bringing to this section of Arizona arc men Of accredited stand ing, all being highly rated, and are engaged in mining in different sec tions. They are appreciative of their silver interests in this field, and pro pose to operate on a substantial basis ample capital being provided.
 It may be conservatively stated the incoming Swastika will take its place as one of the best equipped financially and otherwise, of the strong organizations in this section. After closing the deal a practical de vclopment programme was author ized.
 The mines are to be equipped with Q modern milling plant. the first unit thereof to be of 5O-tons capacity The reelection process will be decid 6d uJou af;cr a test car load Of the rrassorted product is treated at Den yer. and which is to leave next week. In the meantime shaping up the mine for large development goes ahead, and the lower grade ore already mined will probably be brought to the surface, estimated at about 50,- eco tons. The dumps also contain about 20,0O0 tons. and the aggregate tonnage will be treated by the new plant The hign grade in the lower levels will be shipped, the haul to the swi:chback on the railroad being about one mile. Much ore of a mill ing grade is easily stoped to add to the 7G,OOO tons remaining after ship ping high grade.
 Included in the Swastika group are two of the famous silvers in Arizona, and when originally operated were rated as bonanzas. They are the Black Warrior and Silver Prince. Both were sold in the early 7O's for $60.000 each. the deal being based on the showing at the grass roots, and eight owners were interested. The Black Warrior paid for itself before a depth of 50 feet was reached. while the Silver Prince changed hands ire qucntly, and its production ran into the hundreds of thousands. Subse quently they became involved in liti- gation, when both suspended. In- tervening years witnessed each hold ing as active only at intervals by the leaser of chlorider, and when the Swastika people of about five years ago operated the handicap of 50-cent silver was too heavy. when the leaser again assumed charge to operate as an individual The Prince and the Warrior in all development done since early days reached no greater depth than 800 feet. and at no time since the long ago have either been supported by ample capital, with which success must be had The new company will bring back both old silvers into that rating which they deserve as silver scars above the dollar mark