Deming graphic., 1920-02-10
THE REPUBLIC NINE SOLD
TO EMPIRE ZINC COMPANY

AnOtncr Important mine uchf WIS
completed this week when the Empire
Zinc Co. purchased the entire capital
stock Of the Republic Mining x Mill
ing Co. oe Hanover, at $1.25 per share.
This brings the amount paid for the
mine 10 Just over half million dol
lars. As the stock was issued at 10
cents a share, the owners can be con-
sldered very fortunate. The purchas-
ers are taking small chances on buying
the mine. however, as there Is ore
blocked out worth considerably more
than n million dollars and a great deal
OF probably valuable ground which has
not yet been prospected.
The Republic Co was represented In
the negotiations BY It's president o..
Wiser, and the Empire Zinc Co. by its
attorney, Judge Stimson, and its west
ern manager, Cony Brown OF Socorro.
The property transferred consists OF
two groups and a single claim all lying
close 10 the Hanover property OF the
Empire Zinc Co. mt Hanover. There Is
the welch group containing 30 acres
the Abrahamson group containing III
acres and the Silver Dollar containing
II acres.
The property Is opened by three
shafts and to depth Of 200 feet. All
these shafts are In ore. The out
standing feature of the mine was n
huge body of high grade zine ore which
was encountered In drift ON the 100
foot level OF the No. ! shaft and about
30 feet from the shaft. During the
operations under President and Man
ager Wiser In 1918. S10S,S67 wGrth
OF this ore was mined and shipped
with n total operating expense OF
500, ,95555. Operations In 1919 further
exposed this particular body and op
erations on the No. 3 shaft indicate
the extension OF the body to that dis
tance.
History Of the Company
The Republic Mining 4 Milling Co
Twas organized several years ago by
NJ. S. Nord of Deming and associates
They did not have sufficient capita
and In 1916 accepted an offer, made
by w. ii. Janney and associates %
Hurley. to eXpend total OF Sl5,OO'
In further developing he property II
consideration Of 15uOO0 shares of tn
stock. Forty-fOur thousand shares q
stock were sold at this time at II
cents share, pro rata to all stock
holders, TO add to the funds for de
velopment. After this a further blocl
of 10000 shares were sold at 30 cent
n share and still later block OF 2O,W
shares were sold at the same price.
! Under the new management vfgoT
!, ous policy of development went Int
3 effect. At the end OF 1917 II had CON
a pleted total Of $40 feet Of new dc
q yelopment work, Of which 465 fee
were In ore. In the report issued n
: the end of 1917 the company estimate
n body of ore, not quite fully deve
. oped. approxlmating $4,000 tons, whic
n would run 1914 per cent zinc. sec
4 ond body of ore had been enterc
which was estimated to contain 25,OO
n tons Of ore running % per cent zin'
Il on the 200 foot level an ore body ha
II been opened for distance Of 10 fec
= with II per cent ore. The total OF d'
y veloped and reasonably sure ore at tina
7 time was estimated at 10000 tons wit
n an average mineral content ot ID p,
cent zinc.
These estimates were largely carrie
out by the next years operations, fC
while less than $1,000 worth of ol
was taken out In 1917 total OF col
sidernbly over a hundred thousand do
lars worth was taken out In 10l
y The amount extracted in 1919 WI
about half Of this, mining having bee
-
n, reduced because Of low prices tor Il
III metal.
L The stockholders Of the company nj
.. largely Deming people or people wi
o. have lived In Hurley. Some stock
n held in silver City. The officers
III the company are: o. Wiser, presiden
Is :. 4. Munroe, vice-president, Mexico
+. n Trotter, vice-president, Hurle!
u. W. Boise, secretary, Hurley; f.
Foulks. treasurer, Deming; A. c. Pete
II son. director, Deming; J. Il. Joubel
director, Hurley; B. II. Ives, directc
Of albuquerque; l. l.. Wright directC
ar Silver City.
IN A good deal of the credit for d
m success OF the Republic is due to n
as 10. Wiser, who has been manager 4
the greater part Of the reorganiz'
m company's existence, and to w.
Is Janney. who was one Of the first to
ID alize the possibilities OF the mine.
or Silver City Enterprise.
nj FTOUR DROPS FIFTY