Show THE TUCSON ARIZONA COPPER the arhe details of the big transaction by which john F cowan of salt lake and his associates took over the crepin group or of twenty three claims located near tucson arizona were completed early in the month the new organization known as the tucson arizona copper company has already started work on the ground and from information from there it is consi considered deed altogether probable that mr cowan has secured another big producer it is stated that within a few weeks the company will commence shipments on an extensive scale of ore carrying values of from 4 to 6 per cent copper and about 5 in silver to the ton the development work done by the former owners A E crepin scott crismon and alex rossie consisted mainly of open cuts on the western portion of the group they had shipped twenty or more carloads from there netting around 25 a ton in addition to the open cut work a shaft had been put down on a lean part of the vein where higher grade ore was found than in the surface workings the ore shipped from this portion of the mine would net at least 5 more to the ton at present price of metals than at that time the new company is opening up the east end of the property approximately two miles easterly from where the ore was shipped A particularly good showing has been found here where feet of open cut work has opened ore of a much better grade than that in the west workings A shaft is now going down in the east showing at the rate of from three to five feet a aay only one shift working present indications are that the company will open an oreTa ody at about feet depth which will average from 6 to 10 per cent copper and compare well in size with any of the well known arizona properties at the same depth the company has already auto trucks superintendent asher cowan has had a gang of men imen building a a road to red rock twenty miles from the mine and he hopes to have the machines hauling ore by the middle of the month the authorized capitalization of the tucson arizona copper company is shares par value 1 each of which were issued and placed in the treasury for development the company has placed shares of this on the market the firm of lovewell company of salt lake which is f financing inan cing the proposition states that some ot of the best known men in this city have agreed to serve on the board of directors with john F cowan who has been named as managing director these include judge william H king united states senator elect john M hayes secretary of the utah copper company and E A culbertson president of the national bank of the republic |