Bisbee daily review., 1905-09-05
BISBEE TAXES HOLD
 OF LOST MINE STRONG
OVER se,ooo SUBSCRIBED YEsTER DAY TO FURTHER PRoPo-
 SETON.
Mir. Pritehard Selling sSo,ooo Worth of TotaI of 1000 of Stock That WilI Be lssued-Wonderfully Rich Mine Will Pay immediately.

of Total of o,ooo of Stock That Will
 Be lssued-W Rich Mine
 Will Pay immediately.
 That Bisbee is a good mining center in which to gather funds for the pro motion of properties that have the true ring about them was given anoth' CT demonstration yesterday, when, Il is learned over s6,000 was subscribed 10 a stock issue which is to provide money for taking over title to the lost mine property in southern Arizpe district. Son. of which J. c. Pritchard brought word to the city on Saturday night. and about which there appeared mentor in the Review of Sunday morn ing.
 The plan which has been decided upon and which yesterday brought subscription of over a fifth of the amount of money that is needed, calls for the sale of 5000 shares of stock al rar value, s1O per share. With the S3O.OOO thus raised it is expected to come into possession of the property in Arizpe district on the 10th Of this month. Three thousand more shares of stock will then be put on the mar ket and disposed of at par. This to- tai issue of 6,00O shares will be all that the company, which is to be a close corporation, will put on the mar ket. there being every reason to an ticipate that frcm the time of coming into possession of the mine it will pay large returns over and above the cost of development. and the cost of such machinery as it may be desirable tU put on the ground.
 The plan of procedure adopted iii making the sale of the first three thousand shares of stock provides that the investors in these shares will get back the $10 a share they put in from the first profits of the mine, which will come with the first shipment to the shelter. The investors in the first block of stock will thus get their holdings for nothing mere than what practically amounts to the loan of their money for the necessary few months that will elapse before the ore is got out and transported to smelter that will yield the money to pay them off with. The interest this loaned money will bring the investors will be about the heaviest that there is record of ever having been paid in the South. west.
 The lost mine property which is be- ing put forward in this transaction IS supposed to be the old Santa Rosa which legend says was fabulously rich in production in the hands of the Spaniards who discovered and worked the property until driven from the country during the days of the Mexi can instruction. That the mine was left in great haste is demonstrated by the fact that rude tools, drinking cups made of horn and personal possessions of various sort remain in the shaft and about it in the exact places where the frightened Spaniards left them more than hundred years ago. For some reason the natives in the vicinity have for years looked with superstition on the rich property, and have stunned il, expressing fear to go about the ground. This fact explains to large extent the idleness that the property has lam in despite the wonderfully rich showings of gold that prevail in its workings and on the surface.
 MT. Pritchard and his associates art enthusiastic to highest degree over thc ground, and believe that beyond doubt it is the making of the greatest gold mine that has ever been opened in th; Southwest. They are agreed that shipments from the property immedi ately on coming into possession ant getting men to work will be possible at great profit, and they think tha with modern mining methods apppliel 1t will be but short time before an i'm -me1se body of ore averaging abov; Sl,OOO to the ton and possibly above S2,OOO will be blocked out. They sal that the mine is made by the work al ready done, so far as demonstratin. the presence of the ore body, and it richness is concerned. The shaf which the Spaniards put down is al incline on the vein, the dip of which 4 ideal from the miners standpoint. A the surface the shaft started on a two foot vein. At 100 feet this had widen ed to five feet. At 150 feet, the bol tom of the shaft, the ven IS nine fee across. Three veins of five that shcy On the surface have come together a The 15O level of the shaft All the wa down the shaft are rich pockets c gold occcurring in brown hematite o ron These pockets run S3,O0O [ s4,OO0 10 the ton.
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