Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1919-02-02
Grand ISLAND IS
SHOWING Up GOOD

Grand Island has been attracting
more than the usual attention luring
the past few weeks. not only locally.
but IN various outside quarters as we'll
where the demand for the stock has
been quite brisk
For the past year or so the stock
has been practically a drug on the
market, and quite a few large blocks
were bought in as low as nine cents
per share even when the cash in the
treasury greatly exceeded an amount
sufficient TO buy in all the outstand-
ing stock A quiet buying campaign
has been carried on for the past few
months by Pittsburg capitalists head
ed by John S Eberman, and by Lyman
& Moore and associates of Jerome, IN
til at present there is very little, if
any, OF the cheap stock acquired prior
to the re-financing of the company
available Local traders are now bid
ding Is cents for the stock and those
in the know argue that even without
the occurrence OF any exciting devel-
opment features, the stock will 90 TO
% or so cents within the next ten
days or so.
However, it is not merely the assimi-
latiOn of the stock by large buyers
that has caused the intense interest in
Grand Island It is the real faith in
the property. All who are in ant way
familiar With the holdings Of Grand
Island have always looked on it with
favor. A vein of rich ore, assaying
from $40 10 $40 per ton in gold silver
and copper and being from two TO
three feet in width, was followed from
the grass roots down 10 a depth OF 40
feet where water drove them out. This
was some years ago and before the
installation of plant at the property.
A blowout, or GLORY Hole" near the
above workings but on a separate lead.
assays $12 10 the ton on the surface
After the company was re-financed
by Layman & Moore, who put over
100000 into the treasury through the
sale of stock, 4 new shaft was started
AT depth OF so feet the ledge on
which the 40 foot shaft was sunk was
cut At zoo feet a crosscut was run
west, which, at an advance of about
100 feet, cut strong ledge dipping
nOrtheasterly at an angle of about so
degrees. This ledge is approximately
% feet in width, being about eight
feet OF well-mineraliZed quartz. highly
Oxidized and lying on the footwall, fol-
lowed by 16 to Is feet of good look
ing quartz-pOTphyry The foOtw&ll is q
hard jasper and the hangingwan an
altered diorite Samples from the
quartz gave some slight values in gold,
silver and copper, while the quartz
prophyry contained only q little silver.
However, the oxidization was so great
that it was decided to sink and pros
pect this ledge at greater depth, it
seeming almost certain that the vein
matter would become more enriched
where less teaching would occur. In
asmuch as the ledge has widened out
on the 200 level, there were also
greater possibilities of its growing
still larger lower down.
The 500 foot level has now been
reached, with so feet below for a
sump, and a station is being cut This
work should take from ten 10 twelve
days, after which q crOsscut will be
run nOrtheasterly to cut the ledge. II
! is estimated that a distance of only a
little over 100 feet Will have to be
travelled before intersecting this par
ticular objective. However, as there
{ 1AG l44ACC ACOSGo SnOM Gn
/ the surface near the shaft. one of
which is said TO be the rich shea"
vein, other lateral development Will be
I initiated later on.
In the meantime ore is being ex-
/ tracted from the drift run from the
bottom OF the 40 foot shaft and viii
be shipped to the smelter. The vein
now shows a width of three feet AID
contains good values.
Grand Island is capitalized for 1900
600 shares OF the par value of 81 each,
OF which 1922, 10 shares are out
standing. At present the company has
-@s~ assets amOuntinv 20 over $s5.G00.
Those in charge of the affairs of the
company have announced that the
stock VIII soon be listed on the Pitts
burg Exchange.