Bisbee daily review., 1904-05-19


 500. 900. and Shares s1o, in Two Pay
 nents of $500.
 To the Stockholders of the Calumet &
 Blsbee Development Company:
 The object of the plan which your
 management hereinafter submits is to secure funds sufficient to take care of the last payment on the Dem group of claims held under option by this company and to continue development operations more effectively. The Denn group of claims, consisting of ten full and twa fractional claims. are named as follows: Hygene, Iris, Sepoy, Con tractor. Alcatraz, Wales, Rustler. Ger many. Sister Mascot, Major and Lilly. The sum of s212 200 has been paid on this group, and the last payment of ss4 500 is due November 20. 1904
 The following claims. namely: On tario. Grand Prize, O. K. and Damit. known as the Blair group. consisting Of two full claims and two fractional claims. were purchased and paid for in full by this company November II, 1903
 Development operations were com menced January 12. 1903, by sinking a two and a half compartment shaft on the Ontario claim. This shaft has been sunk to a depth Of 9S3 feet, and ihe formation penetrated has been sim liar to that found in the proven proper ties of the Bisbee district, namely: Lime. iron and copper stains. The drift was started from the $50 feet. and was extended for Q distance of about 175 feet in nor l"rly direction, to- wards the properties of the Lake Su. perior & Pittsburg Company. but at this point water was encountered in such quantities that drifting was dis continued. The formation in the drift was exceedingly favorable. and consid erable ledge matter has been encoun- tered.
 The work now being performed at the property is now confined to the diamond drill, which was installed at the 500 feet, and is being operated to wards the Lake Superior & Pittsburg company's property. Re { gently the cores have been showing edge matter.
 The rich ore bodies that have been revealed in the Bisbee district in the 'ast year, where the formation has fl been identical, leads your manage nent to believe that We have a valua- | ble property if effectively explored. | Very encouraging to the future of this have been the developments at the Lake Superior & Pittsburg prop critics adjoining. where rich bodies of ore have been encountered within the last year.
 Your management, therefore, has de ,ided to offer you l2.65O shares of his stock now retained in the treasury 'f your company, which shall be desig. lated as special issue" at s1O.OO per share, payable in two installments of $500 each. This will entitle each stockholder to subscribe for one-half share for each share he now holds. You will observe that in accordance with the plan as hereinafter set forth hat each share of Special Issue" itock purchased will be entitled 10 our shares of mining stock, which will be Gouble the amount of mining 'tock allowed for each share of the original issue of development stock.
 It has been determined to organize mining corporation in accordance with the following plan:
 Plan of Organization. .. .. |
 (a) The name of the corporation shall be the Calumet & Bisbee Min ng Company"
 Cb) Capital: s2.5OO, 900 in 25o 900 ihares of s10.OO each.
 (c) The Development Company hall transfer all of it's property. both 'eal and personal, to the Mining Com, 'any, as follows: |
 CD The Mining Company's stock. the consideration for the transfer of the Development Compa- ly's interests, shall be divided among he stockholders of the Development company upon the surrender to the development Company sof their stock herein, in the following manner:
 'ap Each share of stock originally ssued and which aggregates 25.O0O hares. shall be entitled to two shares If mining stock.
 tb) Each stockholder purchasing lis pro rata share of the 12,e5O shares f stock now offered for sale and