Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-08-16

consideration that $4,000 be expend-
ed in development work on the prop
erty. This was done and the option
executed.
Later, when Helvetia stock was sell
ing at 81 on the curb, the company
was recognized and the stock made
assessable. Insiders took 10000 shares
of the treasury stock at IS per share
or five times the market price at that
time, and that block was issued full
paid. As compensation for expedi-
lures a block OF the treasury stock was
issued TO the Michigan & Arizona De-
velopment company, bringing the total
issue up to 100000 shares, of which
10000 are full paid and 10000 shares
| assessable. An assessment of so cents
per share has been paid recently, and
the company now has 100000 in its
treasury. At Sc per share the COM
pany's 100000 shares have a gross
value of $1,20O,000.
Exploration and development work
was unfortunately directed during the
early history of the HeIyetia company,
and though large tonnage of CONNER
cial ore was opened up il was mostly
in small bodies. About a year ago
all operations were centered on what is
known as the Copper World claim, and
very large tonnage of self-fuXing ore
has been developed since then to d
depth of 300 feet which will average
more than per cent copper. The
character CT the developments at this
point are such as to warrant the be-
lief that Heiyetia viii make a large
and very valuable mine.
A railroad line to the property was
surveyed last year and the government
was asked for permission to construct
the road across public lands. II de-
velopment work continues to result as
fayorably as it has for the past six
months the company undoubtedly will
build the road next year. 1t will then
erect a large smelter OF its own or
make a custom contract and ship its
ore to the Copper Queen, Calumet &
Arizona or some other smelter in that
section of Arizona.
] have twice visited the Helvetia
property. 1t has one of the most SEN
sational surface showings of any cop
per property in the country. The stock
is very largely held by practical min
ing men who have been very success
full in other enterprises. They have
had confidence that it would eyentu-
ally develop into a big mine. They
voted to reOrganize the company and
make its stock assessable, and have
since then paid hundreds of thou
sands of dollars in assessments on
their holdings.
Up 70 the present time Helyetia has
never figured prominently as a specu-
lative feature. 1t is understood that
the Minneapolis stockholders, who are
affiliated with the iTon-mining and
fiour-milling industries, have been
persistent buyers and have taken over
in the market some large blocks of
tine stocks which were sold by two of
the original stockholders.
On the ore showing which the COM
pany now has it would seem that the
stock should be entitled to sell at $40
to SIS per share. The management is
both efficient and trustworthy. The
character of the recent buying sug-
gests that an organized movement
has begun. l have repeatedly advised
the purchase of this stock at lower
prices, and l believe those who have
followed my advice will soon see an
opportunity to sell and secure large
profias The stock is so closely held
that it may sell very high.