Bisbee daily review., 1908-11-03
Mning SmeItGrS and Stock Quotations
HELVETIA HEADS.
ISSUE REPORT

The board of directors of the Hell
yetia Copper company have issued a
report made by the president of the
company. The idea being to acquaint
the stockholders with its affairs and
with what has been accomplished
since its organization. We quote ex-
tracts from this report as follows:
The Helyetia Copper company was
incorporated under the laws of the
Territory of Arizona, Oct 4, 1905,
with capitalization of S5,OO0,OOO. di-
vided into 100000 shares of a par
value of $25 each. Ten thousand
shares were issued full paid and non
asseSsable and were sold for IS per
share at the time of organization
when the company had no funds to
do development work, and the stock
mad very little market value One
hundred and ninety thousand shares
were issued, $40 paid leaving them as
sessable for SIS per. share and were
delivered in payment for all the mines,
mining rights and property of every
description of Helvetia Copper com
pany of New Jersey, the original
company, further considerations being
that the Helvetia Copper company of
Arizona should assume and pay the
Indebtedness amounting to $S1,114 OF
the Helvetia Copper company of New
! Jersey, and that the stockholders of
the latter company should be allowed
to exchange, within a specified time,
their stock of the Arizona company,
share for share; these obligations
have been fulfilled.
Beyond the $4,000 proceeds from
funds for carrying on the work have
been raised by assessments on the
10000 shares. These have been called
in two assessments of 81 each, and
three of so cents each, making $3.50
in all, amounting to $685. 900, practi,
cally all of which has been paid. This
will all soon be paid, for under Arti-
Gle of the By Laws, stock shall be
sold for noTs-payment of assessments
when delinquent specified time
THE Helvetia properties comprise
1875 acres, all contiguous and stu
ated so miles southeast of the city OF
Tucson on the west slope of the Santa
Ria mountains in Pima county. Ari,
zOna, and are unincumbered. The IS
patented claims all show signs of min,
| eTalization. The mill sites, impatient,
ed claims and scrip land insure suffi-
cient land for town site.
up to Oct. 1, 1907 development
was carried on at four places. The
Old Dick where a large amount OF
carbonate ores are exposed and can
be cheaply recovered when they are
required for mixture for smelling pur,
poses. They run from ~ per cent
! to per cent in copper contents. The
Leader where some ore was encount
cred but not in sufficient quantity to
encourage further development at the
time.
THE Isle Royale,' where a shaft
is, down 500 feet and a winze 1876
| feet below the 500 foot level (a1l
| work above the 400 foot level having
been done by the old company
very large amount of money was ex,
pended on this property, but owing
to the difficulty and expense of hand
ling the water and poor condition oil
the plant, the property was abandon
ed and allowed to fill with water
These workings may be recovered at
some future time for an auxiliary TO
The Copper World
Since October l, 1907 all work has
been concentrated at Copper World,
| where there is a ledge of quartz or
Aplite some 40 to so feet in thickness
verifying a granite formation of very
| arge proportions and everything this
| band of quartz is limestone some 1906
feet in thickness. The limestone
| 5hows contact metamorphism for GOO
| ieet and it is on this contact Of quartz
Or aplite and limestone, or off into the
| limestone a short distance, that the
ore bodies so far opened up occur
For 5000 feet along this contact, out
Groppings, Of thickness varying fro.I
! 20 to so feet, appear on the surface
with an area of 5000 feet long by 60C
'eet in width, much can be expected
especially when 1000 feet of its length
100 feet of its width and 300 feet o
It's depth have been only partially ex
plored and much ore has been openet
Up.
The shaft at tie Copper World
sunk for some distance on the ore
aking as closely as was possible a
he time the dip OF the foot wall.
now down 4S0 feet on an inclins
ion of 81 degrees. Three levels hav
cen cut in this shaft, one at 135 fee
Glow the collar, one at 232, and on
t 1872, which are designated as tn
irst, second, and third levels respec
yely; at the 3rd level the shaft j
yack in the foot wall 80 feet n