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Show MOUSE PEOPLE INHMEH Prominent Mining Man of Salt Lake and New York to Control Property. j MAY HEAD COMPANY ! Big Body of Copper Ore in j Ground Is Awaiting ! Development. Upon the r.ve of hie departure for Fouthero Arizona yesterday J. Jinny ! UacmllLan, minim? operator, announced j that a dral had been closed whereby Samuel Newhousc of Salt Lake and New York, together with Butte- and Boston aBuciatcsr, becomes stronslj' Iden titied with the Majma Superior Copper coni-'. coni-'. i;uny of Arizona- Mr. Newhouse, when ' interviewed regarding his new venture ' In tho mining world, confirmed Mr. Mue-Jiiillan's Mue-Jiiillan's statement that the control of , Iho company, so recently organized, had Leeri taken over by himself and associates. associ-ates. Mr. Newhouse, It Is understood, will be the president of tho organization. Views of Newhouse. In speaking of the Magma Superior property, Mr. Newhouse said: Our property, which, In the main. Is patented, lies immediately south and adjoining what was known in the early history of the Superior amp as the Lako Superior and Ari-y.njyH. Ari-y.njyH. holdings. Tlit-se holdings are now rontrolk-d by the MaKtna Copper Cop-per company, and by settlement of long-standing litigation become a 'ontiguous part of the Magma estate in the Superior district. Aside from liie- tremenciouH ore body opened on the Marma ground at the Li'iil-l'oot level, the company is shipping high-grade high-grade copper ore from thip "l. S. ami A." ground, and at no great distance from the property which we have jui-t acquired. Investigation Satisfies. 1 have been riisirn-Iinetl t go into itw mining enterprises Ml a lirnw when the advanced price, of metals is responsible for innumera hie promotions promo-tions and ventures, hiu the results of our Investigations of the opport Linl-f'r'S Linl-f'r'S offered by Mr. Mannillan In the Mama Clipper company's holdings were such that we could not overlook the chance in develop a. mine. The reports or Walter Harvey Weed, well-known well-known geologist, and others on the district and on properly aside from the great Magma itself court careful care-ful a nd earnest Investigation of the possihillties in that field. Our search brought conclusions that make us rather optimistic regarding the Su-pnor Su-pnor camp. We have confidjiee io. the future of the Magma Superior. Work Is to be energetically proscuted on ths further exploration of the es-iic. es-iic. aii'l, with the development al-V'Hly al-V'Hly accomplished there, our expectation expec-tation b for early satisfactory results aro strong. Price in Six Figures. -Mr. Newhouse said that Ihp. price paid for I he com vol of the company reaches j luto six ligures and is large for a prop- , prty not aln-ady in a producing stage. ' i Tho board of directors of tho company : -will be changed to some extent, and an- nounment is to be made later as to 1 its personnel. 1 "The rc-ent rapid rise in the price of Magma thnres, which carried the issue ! from around $12 to StiO, witli recessions to ?:io and a latr advance to about ?ftO . o hare, bns been responsible for attracting at-tracting marked attention to the Superior district throughout tho mining world. 1 The shoot of ore opened on rho lF.no le'eJ In the Magma, shoiving a width of thirty-one thirty-one feet of 1 1 per cent copper ore, is declared de-clared io he a rival of trie ore body in 1 he I' pi ted Verde Ex i elision of Jerome, Ari.. which proved iho sensation of the mining tlrlJs last year. The fact that the surface Indications in the Superior district are so distinct and easily rend appears to be the magnet mag-net which is attracting mining operators a way from other A rizona copper fields, where geological conditions are more difficult dif-ficult of solution. Mr. Newhouse. latest operator to tako holdings In the district, lias been one of the most picturesque figures in the mining industry during the past thirty years. A number of large 'mining enterprises throughout the western west-ern country hav resulted from his activity ac-tivity and we'd -esta hi (she, ability. His 1 successes have been heralded throughout 1he United States and across the Atlantic Atlan-tic ocean into European financial districts dis-tricts for many years. Mr. Newhouse is ns well known in Boston, New York, jondon and Paris as he is in T"ta.h. where his far-sightedness and enterprise were in preat measure responsible for building Salt Lake from a large town into a beautiful beau-tiful city. The advent of this well-known well-known operator into Superior will add wnother Incentive to that interesting ! field. |