Bisbee daily review., 1904-08-26

Anent the Caulmet & Cochlse fiaseo
 Iron Ore, Ishpeming, has the following remarks to make:
 We have bee in-o reel ti.a; the Cal met & Cochise company, with property located at Bisbee. Arizona, has been unable to raise funds to proceed fu:- ther and has decided to cease opera tions, letting the claims revert to the ofginal owners. This is not welcome news to the many who have invested in that enterprise. but il is one of the acidelts which happen to ventures of this character. and where sufficient capital for conducting work properly has not been paid in. On the maps Calumet & Coclisc has looked well. and it has had many friends who back. cd their judgment with good cash, believing the location was well within the Bonanza Circle, and that there was more than an even chance for the find Ing Of the nch ores of the properties located further north. The work done consists of a shaft 1000 feet, a dia- mond drill boring vertically from the bottom of this. and boring from the bottom of the shaft directed northeast towards lands of the Lake Superior X Pittsbu-g. The shaft was in hard
 ime all the way without seam or spot showing copper Reports sent out that there had been encouragement met with were probably not author ized by the management, and were wholly without foundation.
 And vet Calumet < Cochise is not badly located. There is a question as 10 whether it may be cut off in part from the experiencing limestone of the BisDee basin by reef of quartz,te or from the fact that its limestones may be Of a different age and struc- ture from that of the area immediately north and east. IL is conceded that portion of its lands occupy territory ln which there is a chance to win. yet the shaft was not placed in such ground, but upon an eminence where 1t was probably thought water would be escaped until considerable depth had been reached This fact prevent ed the best results. The money spent was honestly handled, but the point selected for attack was unfortunate The company has no funds with which 10 take advantage of results accom- piished by their neighbors, the boom seems to be off. and capital does not care to take hold of an enterprise that has not proved successful. Sue cesses are what the people are after.
 Had Calumet & Cochise the right kind of directing it might have ac- complished something for its share holders. Had 1t been brave enough to have placed its shaft where il was certain water would have been en- countered in less than 1000 feet it might also have struck copper. Tie money was rot used to the best advant- age. This is another instance show ing the wisdom of association our mon ey with people who are miners and who can raise the necessary funds 10 tide them over the time when the bar ren ground is being passed through. It is expensive work looking for mines in the Bsbee camp. Deep shafts are necessary. and much dead work may have 10 be done to locate an ore body It Is far from the enters where mining machinery and supplies are manufactured; it takes a long time to do a little, wages are high, and it is costly business getting through the ground. When ore is struck it has proved of great richness and the ex traordinary expense is soon repaid The established concerns have ad- vantages, too, the smaller ones lack. The little fellows have many expen- ave trials due to their financial weak ness.
 It would not be fair to condemn Calumet & Cochise for the reason the company has failed to show ore. They have made enc little scratch through the formation, a little shaft 1000 feet deep and a few short drill holes They might be within few feet of big mine and not know 1t They had better claims than the one given attention, and it would be un. fair to say the property is valueless because of this failure.
 All the shafts cannot find ore. and every mining claim does not hold mine. These development companies are started, when honestly directed, for the purpose of testing the lands they have secured They hope to find something upon them. They call up on the shareholders for money as 1t may be needed to meet the expense of the shaft sinking, diamond drilling. etc. Those who engage in such tasks take chances. If they win they are Jack and secure a big interest upon their investment If they lose they charge it a miss and go ahead with another venture in which they hope for success. The surface may look right. the rocks be favorable, all the signs predicting mineral, and still there may be failure Nature is very tickle in her distribution of the good things. But if the conditions are right and the money is honestly ex- pended then no fair person can cop