[meteorite-list] Ad Unusual Meteor Crater stock sale

From: Mike Jensen <meteoriteplaya_at_meteoritecentral.com>
Date: Fri, 4 May 2007 08:27:04 -0600
Message-ID: <6f9da8300705040727t5b4b7a15xf567bdd3b35281f8_at_mail.gmail.com>

Hi All
I wanted to offer out a really unusual piece of Meteor Crater history.
I have a stock certificate from Meteor Crater Arizona. I know some of
you think you know quite a bit about these stocks. But my guess is
most of you have never seen this one.
Everybody is familiar with the Orange and Blue "Meteor Crater
Exploration and Mining Company" stocks. They are actually quite common
when compared to this completely separate company.
Now for a little history. Most people know that Barringer started
drilling in 1905 in the bottom of the crater. Of course he was looking
for the "main mass" of the meteorite. At this time he used mostly his
own money. When he ran out of money he then persuaded the US Smelting,
Refining and Mining Company to do some drilling on the top of the
south rim of the crater. He realized that the meteor came in at an
angle from the north so it would be under the south rim.
Early in 1920 USSR & MC were given a 4 year lease by Barringer with
the requirement
that they spend at least $75,000 on the project. They actually spent
$175,000 trying to find the mass! One of their drill holes struck
something that was quite hard. It locked up the drill bit to the point
that it had to be abandoned. Then, finally, in Nov. 1922 they packed
up and left never to return.
Here is where the stock portion of the story comes into play. The USSR
& MC issued stock in 1920 and 1921 for the Crater Mining Company. I
have only seen 5 different stocks in over 10 years of searching for
them. They appear to be issued in numerical order. All are issued to
the parent company except for the first one which is issued to the
president of the parent company, P E Coyle. The numbers of these
stocks are 1, 14, 16, 19, and 20.
It was not until May 1926 that Barringer formed a separate company
known as the Meteor Crater Exploration and Mining Company. These are
the stocks that everyone is so familiar with. In fact a guy was
selling photo copies of both types on Ebay for quite some time. Most
of these stocks are for one share (original price $100.00 /share) for
the preferred
stock and were sold to individuals. They also were required to buy
another share of the common stock($1.00 /share) as well. That is why it
is not uncommon to find them as a set from the same individual. That
is another reason there are so many more of the MCE & MC stocks. But more
importantly most were sold to individuals in 1 to 2 share increments.

I will be offering two of these original and very rare Crater Mining
Company stocks for sale. I will offer the first one at a lower price
and the second one at a much higher
price. So if you are at all interested in a stock please let me know
ASAP. Please email me for prices and images.

So don't miss your chance to own a piece of this incredible original
Meteor Crater historical document. I am selling these two stocks #16
(Nov. 8, 1920) &
#20 (Apr 23, 1921). Both have been folded in 1/3 as was common for
this era. They also have tiny pinholes (staple?) in the upper left
corner. Stock #16 is very clean while #20 has an ink smudge in the
lower right corner. Please email me for images and a price quote.

-- 
Mike
--
Mike Jensen
Jensen Meteorites
16730 E Ada PL
Aurora, CO 80017-3137
303-337-4361
IMCA 4264
website: www.jensenmeteorites.com

Received on Fri 04 May 2007 10:27:04 AM PDT