Bisbee daily review., 1903-08-27
THE MODERN.

ment was maOe that the a4oo eih mine officials were arranging a new working basis for that property whereby the control and manage ment of the property was to be vested in Michigan hands. Since that time but little has been heard of the new plan until now it transpires that the new. arrangements contemplate the st. ansfer of large amount of the shares which have Nbeea he'd by &sfae promoters UP 10 this time. The | s5stement jast sssned by MT. W. A. Bsteman the fiscal agent of that com pany win explain the plan.
 There hss been ss l le sad of la;e regarding this company that. perhaps what have to say, at this time, will pi,be Of in crest to the stockholders and the:r friends We could not say much more before new, as we were planning - get control of the management of -r the company. so as to place it in the hards of the general stockholders. in- stead of in the hands of a few promot- CTS and 10 do this we have succeeded in getting an option on 100000 shares of he prc moter's stock, at ten cents 2 share and this was no easy task assure YOU. The stock is now in the First National Bank of Calumet We propose to sell 200. GOO shares If this at 25 cents share. 20 cents so- irg to pay the promoters for their stock and cents share. net, goes into the treasury for NC king capi al only. 175. 900 shaIes to be p'ac-d il the treasury. which will be ben eft to each and every stockholGer, ard which will give in the treas ury nearly the number of shares orig finally placed therein; ard the balance of 25,000 shares is 10 be used for oy- rerses and commissions. etc. Of course. any nerson taking 000 shares CT placing 1 900 with their friends, will be entitled to a bonus of 100 shares for each 1000 placed.
 Subscription for this stock viii bel reeeiyed ty William B. Andersnd. c3s,,ier of the First National Bal. | Calumet or William A. Bateman. as- cal agent. and subscrip ion blanks rnay he had either at the First Nation al Bank O. a. the office of William Bateman. or on application u ei her of them. This plan. if successfully carried our. will leave but very little stock in the hands of the promoters and place the management in me hands of the general stockholders.
 | is an cid saying but nevertheless t.se. that # the management of tais company were ir the hands Of eood 1eople the property would soon oeSei- CT into a good mine.
 The property of She Modem i5 sur rourded by mining companies now op- rersting. ard cne Michigan comPa- nv. joining it oa inc west. whica VIII soon be doing development work. The Modern has the pick cf the location. but I will sav the outlook fof ine others is good. We feel confident the change will he made ard ask every stockho!der, and his friends to assist us by taking block of this stock. and when the change is made we assure you work will be pushed, and the stock will seen be worth par. There IS stocK If sther companies now selling for 50 ceass, capitalized at two and ore half tines. for what the Modern is and have not one-tenth of the showing a-I ve will say tne Modern, as SCOT 9e it starts 10 work, will go to ship ping ore at once. It has the ore
 At he local office of the Moderr the atemert is made that the frs reed of the property which should b' cared for is the installation of me dium sized pump to unwater the mail working shaft.
 They say ere can be taken onJ iron the levels already drifted and ina judging by the way in which the mil eral is increasing with depth the should run into a solid body of ore b' fore another POO feet in depth ha been passed.
 They claim to have plenty of wate and a good site for smelter but is probable that in the meantim shipmerts of ere can be made to tn Benson shelter.
 The officials claim that their share are actually worth a dollar toda but owing to the enforced idlene; and consignment of adverse cri' N .eisrn ii is difficult to get the public
 credit tEe facts.