Bisbee daily review., 1904-06-25

further fertilize the growth of the en-
 terprise a certain date has been nam ed, which reached, the price would be
 increased. All the new things were close to Calumet & Arizona. all di. rectly in line with the strike of that
 mineral-bearing formation, and Calu- met & Arizona's mining shares were selling at s100 each. or even higher But in the meantime the progressive
 spirits that had brought Calumet & Arizona so substantially to the front has seen to it that adjoining lands
 were picked up, and to develop them companies had been formed The trained eyes of these Lake Superior
 people grasped the value of this Bis bee basin. took in the nearby porphyry contact, the dike of iron, the fractured
 limestone The porphyry contact on the northeast, the quartzite reef and the Cambr.an limestones of the south west told a story that seemed plain enough to them, and they did not wait
 long to take advantage of it. They had not been disclosed. It was known that ore had been found. but its act
 ual dimensions of purity had not been advertised. The Lake Superior ele- ment was looking for adjoining lands and it was not in the interest of req sonable pricer and terms to tell about the discoveries. So that before the camp had been much talked of a great acreage of claims had been gathered in from which four develop ment companies were organized. A fifth is now awaiting a proper time fer launching. the lands having been se- cured. With the knowledge before them of what had been found the pub lie was anxious for shares in Bisbee Rotations. The Bonanza Circle" group. as the Calumet & Arizona and its associate properties, are known. was held by comparatively few people and the original price of the develop ment shares had substantially increas-
 ed. The public demanded lower priced stocks, and there were enter pris.ng men who proceeded to accom- modate them. They were obtainable at anywhere from ten cents to as many dollars per share and they were taken cheerfully, even enthusiastically. As special favors one occasionally got nearly all he had applied for even after it was announced that the capital stock had been many times oversub- scribed. There were a lot of kind souls anxious to assist those who were fearful least there would not be enough shares to go all the way round. Owners of claims reaped a rich harvest. naturally accepting con- ditlons they knew to be prevalent and miles upon miles away from the great bonanza center tracts were Sc cured at comparatively low prices to accommodate those who desired many shares for little money. The first payments were easy, the second some what heavier and the third important The company in the meantime had done little, as it takes time to secure equipments, sink shafts, put in drifts and to do the mulch that is needed in the kind of mines in a district remote from supply points With little accomplished the company did not feel like abandoning the work. Man has pride and he doesn't like to admit defeat, so more good money was poured in. Thousands of dollars shall we say hundreds of thousands were thus frittered away on loca- tions where there never WIS an ex- cuse for starting a shaft.