Bisbee daily review., 1906-01-11

At the annual meeting of the stock holders of the Cadena de Cobre Mining Co. the following officers were elect ed for the ensuing year by the board of directors succeeding its election and organization: E. k. Hughes, presi- dent; Burt Fenner, vice president; R. .C. Stanford. secretary; John w. Gil liDgham. treasurer. The directors of the company are c. A. Mcdonald, R. M. Matoor, John Pennypacker, John Falls and J. w Dillingham;.
 The report submitted to the stock holders by the directors dealt princi- pally with steps taken in the last sew eral months to the end of straightening out tangled titles to the ground held by the company in Sonora, about 150 miles down the Yaqui river from Moo tezuma. in the Sahuaripa district. This ground consists of 210 acres. Ac- cCmpanying the report were records of transfers and titles from the Mexican government showing the ground to have been brought into the hands of the company clear of all cloud.
 A series of errors in the early man. agement of the company made the task of getting it's titles strengthened out a difficult one. In the start it was thought possible to transfer the ground direct to the American compa- ny. Later it was found that compli. cations of various sort had grown fIom this error. To correct the diff. entities that came up a subsidiary Mex. ican company was organized through snh NH American company was recently ac complished.
 Work on the Cobre de Grande has not as yet extended beyond the pros pecting stage About 210 feet have been done altogether. This is in open cuts and tunnels run in on the vein. Each place the latter has been tapped rich copper-gold ore has been found. The ledge has been demonstrated to be of large extent and rich on the surface. The property Is difficult of access and Yaqui troubles also iEter. fere at the present with expeditions there. However, 1t is the expeeta. ton that at early date party VIII eo from the city to take charge of the property and commence work on systematic line of development.
 The company is capitalized for s15. 900 900. the par value of the stock be- ing sl. About 5000 shares have been sold. these about all being held by Bisbee people. Discussion of plans for raising money to carry on the development work that is felt to be justified at the property were brought up at the directors meeting. but decision finally left to the directors Iof the company. The question up permost Is whether to sell a large block of the stock or to retain in rhe treasury all that may not be needed to provide money for immediate uses. Offers have been received from capi. talists to take, large blocks of stock, but ir is doubted whether it is advisa- bIe to sell au extensive interest un- til the ground has had the further de- velopment which those acquainted with it believe will make it highly val. uaFle. Stock to this time has been sold at 90 cents. It is likely that an advance in price to probably 75 cents and the putting on the market of small block of stock at this figure will be the plan decided upon to re- pienish the treasury for immediate needs.
 The meeting of the stockholders of the company was well attended and marked by enthusiasm and much in. creased interest when the improved condition of titles and 61her matters of organization and business concern were made plain.