Bisbee daily review., 1904-10-14
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IRON ORE RESUME.
The Bonanza Circle Properties From
 Michigan View Point.

Editor Newett. of the Iron Ore. pub lished at Ishpeming. Michigan. has the following to say concerning the Bo- nanza Circle properties. under date of October 1:
 Of great interest this week is ia,. news that the pumps in Calumet X Pittsburg Briggs shaft are lowering the water in the Junction Develop ment companies shaft. Calumet & Pittsburg workings are considerably deeper than those of Junction, but the shafts are more than 5000 feet apart. 1t shows that the ground is limestone and that it is sufficiently fractured to premit of the flow Of water through the intervening space. In this camp the fractured limestone is necessary to ore disposition. as 1t provides an avenue through which the percolating water, bearing their min eral burden, have come down, and suggests that there is a fine chance for other ore bodies in this big space separating the shafts referred to. It is the condition that was of such inn ROANa4NG lO AaAuIACk oL AlALOud hn0 Lake Superior and Pittsburg The heavy breaks in the formation at Pittsburg & Duluth have proved valuable. too, according to late re ports. Lying close to the Porphyry contact, being disturbed by intrusive rocks, this limestone has been dis turebd by natural forces so that it can become a receptacle for the ores. It makes Junction a very promising location, and also suggests good things for its neighbor, Calumet & Pitts burg It is a condition that greatly pleases those who are managing the properties and directing this develop ment
 Junction according to the diamond drill borings has ore about 20 feet from the present bottom of it's biz four compartment shaft It is prob able that 1t will be able to reach thir o able that it can reach this ore without the aid of pumps, as the water is now being taken by the pumps at C. & P. This will save them some time, and good news should be received in Q few weeks. The company has plenty of time to develop the property before the final payments are due, more than two years.
 There is a great demand for Ameri- can Development shares. American Development is 8 holding company, owning lands adjoining Junction. It has not been formed into develop ment company as yet. the holders awaiting developments at Junction. They may decide to handle the prop erty themselves, not placing it on the market One broker had orders for Il .0O0 shares of the stock at what ever price the latter will be put on This Is another evidence of the integ- rity of the management. Here is a single brokerage house with orders On hand sufficient to take a quarter of the entire development issue pTovid- ing the latter were upon the same basis as other properties of the Circle. We are in receipt of many letters ask ing for information concerning the probable time that this stock will 1e put on the market. but it Is not even settled as yet that the public will have a chance to secure single share We would like to see the public giv- en the chance, however, as many failed to get into the other properties of the Circle until they had reechel a price representing their original value several times over. The eagerness with which shares in this company are being sought illustrates the say ing that nothing succeeds quite so well as success