Bisbee daily review., 1907-03-10

Sale.
 The highly favorable developments in FraDklin's Peninsula conglomerate lode. reported year ago. proved to be one of those punches of well min eraliZed ground which are character istic of that formation. Its limitations have been quite clearly defined. but as yet only a very small portion of this bunch of good ground has been extracted. During the past few months the conslomerate lode has not been developing well. and it was the unfavora5le showing ther~ and also a hope that the Pewabic lode might be found richer at depth which caused the extension of the crosscut at the Fist level. Another crosscut is being driven from the 23rd level to open the Pe- wabic lode. and as the distance be- tween the two workings is only 46U feet. it is proposed to mine from the Fewabic lode and hoist it through the shafts on the conglomerate for some time to come.
 My recent reference to Franklin's mine on the Pewabic lode as full of water was partly in error. The orig inal crosscut from the workings or that mine to the conglomerate lode have remained open and consequently have drained the workings down to the 14th level. Between the 14th lev el and the bottom of the mine there is an accumulation of water. but il Is ! not sufficient in quantity to call for a considerable e1penditure in its re- moval. If the good copper showing in the Pewabic lode continues, one uI more of the old shafts will be reopen ed and hofsting equipment. etc. in- stalled.
 It Is semi-officially stated that Franklin has on hand at present a cash surplus of about S200,000. The company closed the year 1905 with a balance of assets amounting to $10S- 39S of which about s15,000 was cash It may. therefore be assumed that Franklin's earnings for the year 1906 approximated S1S5, 900. on a copper market which averaged about 19 1-z cents. As Franklin's production was about 5,500,000 pounds of copper. 1t would therefore appear that its net profit from operations was less than 1 cents Der pound. Its copper must. therefore. have been produced at a
  pound.
 The development of rich copper rock in the Pewabic lode at a depth of 2l00 feet in the Franklin property may be considered almost as import ant as the discovery of commercial values in the Kearsage lode at the Tecumseh property five miles south of the Wolverine mine. Though the Pewabic lode is responsible for Quin- cy one of the most important mines in the Lake Superior district and slso the old Franklin which is a small l block of ground entirely surrounded by the Quincy workings that lode has never been an important producer at any other point. This recent discov- cry sn the Franklin Is two mikes north of the Quincy and 1t opens up the possibility that this lode may Ds ] found rich at depth in other proper ties north and south. As a result of this discovery it is possible that Frank,in stock may aeIl hig1er: but il | should be remembered that consider. abfe time will elapse before the Franklin can reaD any considerable benefit in production and earnings from its new discovery.
 Old Dominion's recent development of rich sulphide ores on the bottom level of it's mine has increased in i'm l portance. The crosscut continued in ore 43 feet without reaching the hanging wall of tke vein. At poini 200 feet above on tho 1zth level this chute of ore was 300 feet long ana about F wide Therefore the devel opmsnt of great width on the 14tl level leads the management to believe that 1t will prove up good throughoui the intervening spaoe. The entire (;