Bisbee daily review., 1906-02-11
|COCHlSE DEVELOP.
 MENT IS fAVORITE
Bisbeeites Filming their Faith to Property that Has
 Long Laid Dormant

ought to be very satisfactory to the stockholders, who, when the old Co., chise was rejuvenated last fall and reorganized from a mining into a de yelopment company, expected that by this time. for the work accomplished, they would have had to pay a couple of assessments. As announced at the annual meeting of the company in January, the assessment expected to be levied in December has been post poned until April or May, because the company used the money on hand to such advantage that it did not need additional funds for some time to come.
 With the money so far expended the company has secured a hoist, with have erected substantial buildings and made such surface improvements as necessary. Underground they have widened their shaft from a one and one-half compartment to a three compartment, a depth of 175 feet. They have remaining 125 feet of shaft to be widened from the original size to three compartments. The latter will give them plenty of room to work and it will be employed to advantage at the 300-foot level. When that level is reached, drifting will commence while sinking will also begn in the new ground below.
 Until Wednesday of this week the work in the shaft was by hand, the ground to depth of about ITO feet net having been of sufficiently firm char acter to allow of machine drills be- in gemployed- However, at about ITO feet, material change occurred in the ground toward frmness and machine drills were pNt to work. The cCm- pany has four of these, but to the present time is using bur two. The other will probably come into service little later, though it may be found that they cannot be used to advantage at one time until the 3Dwer level is reached and drifting and sinking are both under WAY
 Very soon TOW. somewhere above the 20e-foot level, but noI far from it, Superintendent Ledwich expects to cut a body Of four or five feet of sul. phide ore This was gut in the old shaft six years ago and made about per cent. in value. IL is probable that when it comes int othe wideEed shaft a drift will be rnR on it
 From the bottom of the old shaft al 300 feet there is a drift running 270 feet northwest It is the purpose when tkis is reached to clean It cut and continue in it. When it Eas c.o a-1 hxy hn n1a hA oh ject waE to carry the drift to a DOT phry-schist contact. The fact of the work is now ahsGt 100 feet from the contact Ore fs assuredly expected when this is rearhed and things vii! be crowded in the drift when it is reached with the enlarged shaft.
 In the shaft it is the expectation that ore will be caught between GOO and TOO feet. thongt the management will not be disappointed if if is found necessary to go considerably lower. Those directing the property have every confidence that at some depth which they will be able to attain with their present equipment, and the probable addition of pumps, they will get ore in good quantity At present there is no water to contend with in the shaft except small seepage that comes in.
 In the last fifty feet that nave been made in enlarging the shaft humber of small punches of sulphide ore have been encountered. These have given though signifying nothing of importance. At present thirty men are being worked at the property. Another one hundred horse power boiler is 10 be added to the battery in service at early date, it being the intention to put in an order for it during the present week. Cochise stock is at present held at between s6 and $7.50. Some few shares might be gathered up in the city for the forme ramount. Numer- ous buying orders are in the hands of brokers for the stock at from s to s5.50, but there is none coming out at these figures. Most all of the stock is held locally, and if the mine makes the success that is expected of it by those who best know the it will be almost distinctly the work of Bisbee people.
 The financial standing oi the con- pany, as reported to the stockholders at thei rannual meeting in January, covering the time of the lte of the to January l. was as follows:
 Assets-Mining properties (con- sisting of fifteen claims,) s3S2,301.10; i value of 3S,00o shares, full paid, De stock set aside to redeem all oufsfaudinp sfock of fha fsochi=a Copper Mining Company, s3S0,000; liabilities of the Cochise Copper Company assumed, s2,310.10; 1 reserve stock, 37,S27 shares, at s10. ! S37S,270; grading, construction work. machinery. mining supplies and ad- expenses, $22.097.S;9 un- ment stock. siS0,797.50; cash in banks, s3G,53S.5l; total s1,000, GOO.