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Show ilGIHS TO TAKE CCIiiSTOCK-FHOEfilX Big Deal in Famous Nevada Mining1 Property Is Offi- j cially Announced. j i IS LARGE PRODUCER1 I Jesse Knight to Head the Reorganization as President Presi-dent of Company. '- The Comstock-Phoenlx Mining company, com-pany, with properties located In SMx-Mlle SMx-Mlle canyon, about a mile below Virginia City, Nov., is to bo reorganized tills month, with the Knight Interests of rrovo ami Salt Lake in control. Official statement to this effect was made yesterday yes-terday in a letter sent out by the firm of Dern & Thomas, brokers, who are , handling a portion of the stock. The Knight interests have been for many years actively trlentitied with or in j control of many of the paying mines of T'tah and the west, anions them the Hamburg of Nevada., the Beck Tunnel, Colorado and Iron Blossom of Tintic. Directorate Announced. It is stated that the company will be Incorporated for 1,huu,hii) shares of the par value of $1 each. Jesse Knight ifi to ; be president. George H. Drysdale. vice president and general manager; Ivester Mangum, secretary and treasurer, the other directors to be Louis Oarkhur.st a.nd F. M. Manson of Reno, general manager man-ager of the Western Ore Purchasing company of Nevada and the Utah Ore Sampling company of Salt Lake. Mr. Drysdale, who has for some time had the management of the property, is especially especial-ly fitted for the position that he will retain, re-tain, as in the early days of the development develop-ment be worked there as a miner for the llrst owners," later secured a lease and hond and succeeded in bringing the mine to a showing that the big men who are now to take over the control became interested. in-terested. Ore and Equipment. The character of the ore in the Coin-stock Coin-stock -Phoenix is free gold, with black sulphides. It Is stated that there is a vast amount of low-grade ore, with some high grade running as high as $u00 per Ion. while the shipping grade of. the ore averages better than $100 per ton. Sixteen Six-teen tons of ore are ready at the mine for shipment that will average $300 per ton, according to Information received here. Tiie property Is electrically equipped, has power drills, an Incline train and a compressor on the 400-foot level. The main shaft is down 650 feet and the property is further developed by a 500-foot tunnel and winze. The Jeom-pany Jeom-pany Is now mining on an east-west fis-mrr fis-mrr which is striking directly toward the heart of the Consolidated California-Virginia California-Virginia stope. |