Bisbee daily review., 1905-08-06

I | be fired. Sinking continues. e & a Over at the Lake Superior & Pitts burg a stump has been built in the shaft at the HOO foot level and the
 company will begin sinking again dur | ing the coming week. It is under
 stood the shaft will be sunk 400 feet further which will make it the deep
 est shaft in the district. 1 & & Shipments of ore still continue from
 the P. & D. through the Pittsburg i shaft and the tonnage is being in- creased daily.
 | The strike in the Shattuck-ATizona
 on the i50 foot level has acted as a [ strong stimulant upon the stock of | the Pittsburg & Duluth. The ore body trends toward the P. & D. and ! this knowledge has had the effect of making a strong demand for the stock. i The shares went up several points ! during the week and the stock is now | considered one of the best buys on the
 market.
 | The permanent plant at the June | ton has now been entirely completed and the initial work of exploring the | two ore bodies disclosed by the shaft
 has been begun. From now On it wlli only be a question as to how ex- ! tensive the ore bodies in the mine are and their intrinsic value. Ss F | Among the outsiders the Shattuck- ! ~A haFI five place Over 100 feet 0 ore has now
 been penetrated by the drift upon the | 700 foot level and TO signs of it's quitting have shown. The new boil CT has been set and is ready to be i fired and sinking will begin at once. Shares in the Shattuck-Arizona com pany are rapidly going up but there is little for sale and hardly any trading is taking place.
 At the Saginaw the new pumping plant has been completed and sink ing resumed.
 The plant of the Denn-Arizona is TOW practically finished and the sink ing of the shaft is going on rapidly
 Hoval A. Smith and his associates are still buying realty at the southern end of the district but whether it is in i the interest of the Warren Develop ment company O. the close corpora ton which has acquired the water rights from the mines, yet remains to be seen.
 One of the last purchases made by | MT. Smith consists of 30 claims sit uated south of the pass through which the French-Lowell cutoff will be built These claims were owned by Messrs. Brophy, Wells and Anderson and as they are out on the flat will | probably be incorporated in the irri- gation system of the Smith syndicate. | Mir Smith has also acquired all of
 the idawa.ns dlaiTls adjoining the | Calumet & Cochise mine and these will probably go into the Warren com pany as they lie mostly in the hills. It is expected that the announcement of the holdings of the Warren com rany will be given out this month. A C A cocHISE DEVELOPMENT co. The old Cochise Copper company went out of existence August l, and the reorganization of the company an nounced to take place sometime ago vas accomplished. The new compa- ny has been incorporated for S1 100000 with a capital stock of 100, 900 shares of par value of SIC per share and will be known as the Cochise Devel- opment Co.
 All holders of the old Cochise | stock can turn in their certificates
 to the secretary of the company and | receive in exchange the certificates
 of the new company at a ratio of 100
 shares of the old stock for l share of the new company.
 | Holders of the old stock after mak- | ing the exchange have also the ex
 elusive privilege, up to the first day of September. of purchasing shares in
 the new company at a rate of l share
 for every share they have received in
 exchange for the old stock.
 These shares can be obtained by a
 payment of s2.50 down, the balance of
 the s7.5O per share to be paid as
 called for No call to be made be-
 fore January 1906.
 The allotment of the new shares
 to be subscribed for to the sharehold-
 CTS in the old company is 3S00 shares
 and after, September i the same num-
 Der will he offered to the public. Any
 balance left from the 3S00 shares of
 fered the old shareholders will also
 be offered to the public after Sep
 atelnber 1. Holders of shares in the old company will receive fully paid up certificates in making the
 exchange at the above mentioned ratio.
 Judge O'Conne1l, who attended to
 the legal end of the reorganization,
 shares in the new company were com
 shares in the new comany were com ing in rapidly and in his opinion ev-