"JEROME - VICTOR EXTENSION ACTIVE ON N. Y. CURB."
"Jerome Victor Extension stock, the latest Jerome copper issue to make its appearance on the New York curb, closed the week at $1 3/8, giving the entire outstanding capitalization a market valuation of about $618,000. Later in the day Chicago reported $1 5/8 bid for a large block of the stock."
"The initial offering of 200,000 shares of Jerome Victor Extension Copper, which was placed in New York, Boston, the middle west, northwestern and southwestern points on May 3, was oversubscribed at $1 a share."
"So far as outlined, the development plans of the Jerome Victor Extension management provide for working the property on an extensive scale. With that object in view, the old main working shaft of the company, located about 1000 feet from the main shaft of the United Verde Copper company, is being unwatered so the company's engineers can make a thorough examination of the ore bodies and plan the lateral work which is to supplement that done to a depth of 1200 feet by the former owners prior to 1914, when operations ceased owing to a lack of funds. The present management begins its campaign of mining activity with a development fund of $200,000, in addition to which it has an efficient plant which cost hundreds of thousands of dollars."
"Of far greater importance than the plant and devlopment work, however, is the location of the company's claims with reference to producing mines, the trend of adjacent deposits of high-grade copper ore, and the recent sensational ore discoveries in the United Verde Extension mine near by."
"The men in control of the Jerome Victor Extension Copper Company are prominently identified with copper mining and banking interests of Michigan and have at their command the services of mining engineers who have made good in the Great Lakes section. It was upon the recommendation of these engineers that they took over by outright purchase the property of the Haynes Copper Company, known as the Harryhausen group, and the property of the Jerome Mines developemnt Company, and incorporated the Jerome Victor Extension Copper Company."
"The new company is capitalized for $1,000,000, divided into shares of a par value of $1. The stock is non-assessable and is to be listed on the Boston and New York curbs. The listing, however, is not for the purpose of securing funds for development work, that object having been attained by the initial sale of stock, but in order that those who subscribed to the initial offering may be afforded an active market for their shares."
"The officers and directors of the company are: James T. Fisher, cashier of the State Savings Bank of Laurium, Mich., president; Brainard Avery, member of the law firm of Avery & Whiting of New York City, vice-president; J. P. Paton, cashier of the First National Bank of Larium, Mich., secretary; and P. P. Petermann, president of the State Savings Bank of Calumet, Mich., treasurer. These officers, together with A. H. Floter, A. F. Heidkamp and D. F. Prinz, compose the directors. Mr. Floter is chief mining engineer for the Mohawk and Wolvering Copper companies; Mr. Heidkamp is vice-president of the Citizens' National Bank of Houghton, Mich., and Mr. Prinz is a prominent manufacturer of leather goods at Reading, Pennsylvania."
"The Jerome Victor Extension Copper company has an authorized capitalization of $1,000,000, divided into shares of a par value of $1, of which 450,000 shares have been issued."
(Jerome News; Friday, June 16, 1916; page 1, column 3.)
The old Haynes Copper Company property in Jerome is now open to the public as the Gold King Mine.
More like this story
- Verde Heritage: News about the Verde Mining District during May.
- VERDE HERITAGE 1916: United Verde Extension Mining Company
- Verde Heritage 1918: JAMES S. DOUGLAS, WELL-KNOWN MINING MAN
- 1916: COPPER CANYON; United Verde Consolidated, September 16.
- 1916: JEROME; Hull Sells Claims & Surface Rights, July.