Bisbee daily review., 1917-11-04
ANNUAL STATEMENT
 OF JEROME VERDE
 VERY ENCOURAGING
Engineers Report Illuminating In the Extreme. Company Has $20O,OOO Invested in Liberty Bonds For Future.

| Local stockholders of the Jerome Verde Copper company ha 's receive 'notiCe of the annual meeting, which is to be held in the oei:s ol the Slod- dard Incorporating cC"pany. Phoenix, on November 12, beginning at 10 o'clock. Directors will be elected for the ensuing year. and proposed new code of bylaws will De considered.
 Financial Statement
 A financial statement covering the 12 months ended October 1. 1917, ac- companies the notice. It shows that the assets of the company October l, were $375,307.s2, of which s200,000 was in the form of Liberty bonds and the remainder in cash.
 The receipts for the year were siOS.- 735.05 from the sale of stock; s6.163.S2 in interest and discounts; s150 for the rent of a certain spring on J. V. ground and $6,372.54 from miscellaneous sources. A cash balance of $166,- 94S.46 was carried over from the pre- ceding year.
 Expenditures were as follows: Sinking shaft and cutting station, S66,- S81.55; drifting and crosscutting, s2z.. 523.10; machinery s9,65252; superin- tendence, engineering and sundry sur face expenditures including labor plant supplies, road yard and building s22,95O24; sundry supplies on hand s4,09S.39: liability insurance and hos pital s3,5s2.13; office expense, printing travelling expense, stockholders meet ings, certificates. etc. s10,773.95; dia mond drilling, s1S,474.64. drifting and crosscutting by II. V. Extension com pany under contract s34.564.79; off cers salaries, s3,S75; taxes, s7,572.3S; legal expense. s6,32632: registering and transferring stock, s5,736.56; ad vanced to superintendent for mine pay. roll, etc.. s2.97626; current operating bills. s23,166.1s; electric power, s13, 346.10
 Secretary l. Mabbett Sutton reports that 20,055 shares of the original treasury stock and 260,72S of the 500. 900 additional shares voted last May remain unissued.
 Engineers Report
 In regard to development, Consult ing Engineer E. P. Henderson reports under date of October 16:
 During the past year operations have progressed steadily in accordance with the plans made for the complete development of the Jerome Verde prop erty. Although no large ores bodies have yet been developed, pay ore has recently been followed for 5S feet above the 900 level and 40 tons have been shipped to smelter during the past two weeks.
 "The enlargement of your Columbia shaft to depth of 700 feet was com pleted about January 1st, and the shaft was sunk to its present depth of 1060 feet by April 1st. The new level from this shaft was started at 1043 feet depth, corresponding in elevation to the 1.400 level of the United Verde Extension, and to the recent workings in the northwest portion of your prop erty. Since April We have completed 1,696 feet of drifts and cross cuts on | this rev level in the Verde and Colum. bia shafts
 Drifts and crosseuts.
 "In the northwestern portion of the iproperty, 2.006 feet of drifts and cross cut have been driven during the past year under agreement with the United Verde Extension Mining company in the Maintop, Signal. Compass and Yer. de claims on the HOO level. and rais- ing has recently been started on the bunch of ore exposed on your 900 level 1 near the southern end of the Maintop claim
 | Diamond drilling was started in De cember from the underground work. ings of your property. To the pres ent, 12 holes have been drilled, varying in length from 300 to 1,011 feet, and az gregating SO27 feet. These holes are all drilled approximately horizontally to crosscut for formation. They are situated in the Maintop. Signal, Com  pass, Anchor and Columbia claims. | Territory Explored.
 The development work of the past year has been sufficient to partially ex plore, in such a way as to give some knowledge of the formations. about SC acres out of the total 4S6 acres of youl property, as compared with acres partially explored year ago. These 50 acres, however. are very far iron being fully explored
 The work has disclosed severa belts of greensboro and prophyry ternd ing across the property in northwest erly-southeasterly direction. with . and life terms for judges, democrac, spelling opportunity in it's forty field, ! nr lon daH hf A