The Wallace miner. [volume], April 05, 1923, Image 1

About The Wallace miner. [volume] (Wallace, Idaho) 1907-current

Image provided by: Idaho State Historical Society

                
Metal Quotations
Stockholders
THE WALLACE MINER
WILL FIND MINING NEW*
AND COMPANY NOTICES
OF INTEREST TO THEM
IN THE WALLACE MINER
Lead, 8.25c.
Silver, 99(Hc.
Zinc, 7.65@7.75c,
Copper, 17?sc.
WALLACE, IDAHO. THURSDAY, APRIL 5, 1923.
VOL. XVII.
NO. 10.
FIVE CENTS THE COPY.
INDEPENDENT VEIN
UACrnnnnDi: CUirtU/IMr
TlAj VxLHJLJ UKt, OilU WIlxvx
Reach Vein at Additional
Depth of 1000 Feet-U*e
r
Calumet Compressor
S A RESULT of negotiations
which have been pending for
several months, the Independ
ent Copper Mining & Milling
company is preparing to carry out a
development program of unusual im
portance. The property of the com- I
pany consists of three patented claims j
lying north of the National and be
tween that property and Missoula \
Copper. Briefly stated, the Independ
A
enl company has secured an easement '
from the National Copper Mining |
company for the use of its tunnel, and
the plan is to extend the crosscut al
ready started at a point near the Na
tional shaft to the Independent vein.
This announcement was made yester- j
day by John H. Nordquist, manager j
and largest stockholder in the Inde
pendent, who, with E. G. Gnaedinger,
engineer for the National, is at the
latter property today to complete final
arrangements for the work.
Good Showing on Independent.
The Independent vein was crosscut
many years ago about midway of the
.. ... , . .
group, the crosscut aiterwards being
. , ,, ,,
extended into Missoula Copper. 1 rom
, ,, T , ,
the crosscut the Independent vein was
explored west about 100 feet and east
500 feet, showing more or less lead
silver ore the entire distance and dis
closing a vein which Mr. Nordquist
describes as one of the finest fissures
lie has ever seen. From the east drift
a shaft has been sunk 200 feet on the
j
_ . I
vein, the ore continuing in varying j
quant'ties. from the bottom of the
shaft the vein was explored 350 ftal
east and an equal distance to the j
west, the vein maintaining its great t
strength with an meteased amount o
cie, though not enough for pio t. ■
Work was discontinued on account of |
war conditions and the property has!
since been idle.
me ut oo or ay re.
The plan of development now to be I
carried out, as described by Mr.
Nordquist, will explore the vein at
great depth and the showing above j
justifics the expectation of hod in g
commerclal b ody of o*" e - Tbe Is,atl ° n
al ciosscut w lie i wi e ii i ize as
been extended about 300 feet from ai
point not far from the shaft and prob- I
ahly a mile from the poital. It is es
timated that by extending this cross
cut north about 600 feet the I"de
pendent vein will be reached and at
a depth of 1000 feet below the tunnel
S00 feet below the drift from the
bottom of the shaft. The matter
handling the muck has been simpll
fled by permission from the National
to dump in the old shaft workings.
or
the National $100 per month for
pay
the use of the tunnel and the use of
such equipment as there is on the
ground, which is little more than the
track and air pipe.
Mr. Nordquist
at the
states that the compressor
Lucky Calumet, which joins the In
and has the
dependent on the east
same vein, will be moved to the Na
soon as the condition of the
tional as
road will permit; also the electric
motor of, 100 horsepower, thus provid
ing a plant that will provide ample
Work will start just as soon
the compressor and motor can lie
moved and placed In operation,
stockholders in
Nordquist
power.
and Forest
About 250,000
is held in southern
Oscar Nordquist Here.
Oscard Nordquist. for many years a
resident of this city, and now mana
Lukens-Hazel Mining
near Libby,
as
A mong the large
Independent besides
the Billberg estate
Mr.
are
Clark, of Mullan.
"shares of stock
California.
ger of the
company. operating
in the city the first of the
Mont., was
The Lukens-Hazel is a lead
week.
silver mine, its ore also carrying con
siderable gold. The mine has been
quite extensively developed under the
management of Mr. Nordquist,
also under his direction the company
and
well
has erected a milling plant
adapted to the treatment of the ore.
Considerable ore has been shipped.
but the mine is inactive at this time
pending the carrying out of plans for;of
deeper development.
CEDAR CREEK.
William Becker, manager of the Ce
Mining & Development
advised by telephone
dar Creek
company. was
Tuesday that sinking had begun in
the shaft that is being sunk on the
vein from No. 3 tunnel and that the
first round showed an improvement in
the ore. The second shift was put on
Tuesday night and all conditions arc
favorable to make rapid progress.
ORE BODY BIGGER AND BETTER.
New Level at Morning Has Much Ore
of Shipping Grade.
According to reports from reliable
sources during the past week, the ore
shoot on the new 2450 level of the
Morning mine is showing remarkable
improvement since the account of the
strike was published in the Miner. As
drifting proceeds the ore body is much
wider and much of it is of shipping
grade. In fact it is stated that from
p,esent '"dications the ore showing
on this level will prove to be the ing
* est and best in the hlsto, ' y of thiK
great mine. Preparation will soon be
made to sink 200 feet further and
open the 2650 level, which maj
confidently expected to disclose equal
ly satisfactory results.
INTERESTING CONTEST FOR THE
Dines of success
D.P.MAHONEY PRESIDENT
I
, j
CONTROL OF BOARD—POL
ICY OF NEW PRESIDENT.
The large number of proxies pre- j
seated at tlxe annual meeting of the |
Success Mining company
last Mou- I
committee I
day morning made it necessary to ad
journ while a special
checked them over. Tills was
not
completed until late Monday night and j
, , , .....
been going on for weeks past tor the
. "
control of the board of directors.
, .. ..
There was much negotiating in
it was not until 10 o'clock Tuesday
morning that the meeting got down
A strenuous contest had
to business.
the
opposing fac
meeting between the
tions with the view to arriving at an
agreement, and the final withdrawal
of Franklin Pflrman as a candidate
clarified the situation and the follow-j
without
were elected
ing directors
!test of strength: Dan P. Mahoney, of
Spokane; Maurice L Mahoney, of
Burke; R A Ralchj of Spokane; Her
& j Rossi of Wallace, and W. R.
of old Mission. Foll0 wing
L new directors met and elected
Dan p Mahoney president, Maurice
. Mahoney vice president, and Allen
G Kenned secretary-treasurer and
^ manafrer
Policy of New President.
After the meeting and organization
^ n<jw board Qf directors . stock-|
holders who atte nded the meeting
were ^g of the new p res ident, Dan
p Mahoney, at a luncheon served at
Grotto In a brie f address Presi
'jdent Mahoney referred to the contest
ug ^ c j osed and expressed the hope
fect harmony would prevail in
^ _ He tMok occa8io „ to
d the persis tent report that other
^ than those appearing on the I
stockholder8 would domln-i
CO mpanv, and stated that it I
be he j, of the director8 to |
the dev „ !opment n( «he
aggressively with the view to placing |
dividend paying basis at the
earIjest , ble date , nnd lbat opera - I
wou , d at a „ ttmea be in the in .
the adjournment of the stockholders
"""IpumSE
MINING IN MEXICO.
Coeur d'Alene Engineer Returns Af
ter Three Years.
Stanley R. Moore, accompanied by
jhis family, has returned from Mexico.
where he has been engaged in mining
Mr. Moore is
for the past two years,
widely known in this district, whete
he practiced his profession and for
several years was superintendent ot
the Success mine,
ago he went to Guanajuato,
where he took a similar position with
the Guanajato
About three years
Mexico,
company, an American company
which is successfully operating a mine
that was originally worked by the
Spaniards several centuries ago. It
produces both gold and silver ami
about 3000 men are employed. The
.mine Is situated about 7 miles from
jtbe city of Guanajato. which has a
population of about 35,000, which In
eludes about 100 Americans. Mr.
Moore and his family resided at the
mine, and the absence of school facil
Ities for his children was the reason
for his return to the United States.
Guanajuato is about 1000 miles al
most due south of El Paso. Texas, and
has an elevation of about 7000 feet.
Mining & Reduction
iThe climate is delightful, the average
temperature being about 70 degrees.
There are wonderful opportunities for
American enterprise both in the field
mining and agriculture. The coun
try is peaceful and conditions are
much improved under the present ad
ministration, but there is still much
to be desired in the way of protection
Mr. Moore
to foreign investments,
said that it is possible he may return
to Mexico, but his family will remain
here.
the subject de
of defective
An authority on
dares that many cases
eyesight are due to wearing tight col
iars, which interfere
(th the circu
lation of blood to the head.
Republicans Renominate Mayor Toole,
Treasurer Keating, and All Council
men— L. L. Leighty for Clerk
REPUBLICAN CITY TICKET.
For Mayor
HUGH TOOLE
For Clerk
L. L, LEIGHTY
For Treasurer
C. A. KEATING
For Councilmen—1st Ward
STEVE EDD1NS
F. E. STONE
For Councilmen—2nd Ward
JAMES H. MUNSON
ROY MORRIS
For Councilmen—3rd Ward
D. E. WICK WARD
GUY KELLOGG
For Councilmen—4th Ward
CARROLL REAMER
JAS. R. TEASDALE
ITH AN attendance that fill
ed the district court
last night, the republicans of
Wallace nominated the above
candidates for the various elective
city offices to be voted for at the elec
tion which will be held on April 24.
w
* ,
The meeting was called to order by
Alfred J. Dunn, chairman of the re
i
" a-s
I
who !
publican city central committee,
was elected temporary chairman of i
the convention. Chas.
Horning.
E.
secretary of the city committee,
elected temporary secretary.
„ ._ ,
Herman J.
_ _...
Jesse !• ic eman ,
The following committees were up
pointed by the chairman; Permanent
urder of business;
organization and
Rossi, Emil Pfister and
Platform and resoiu
tions: Walter H. Hanson, James
McCarthy and W. H. Herrick.
A brief intermission was taken
permit the committees to prepare
Upon reassembling the report
to
rc
ports,
of the committee
eanization was adopted which recom
on permanent or
mended that tlie temporary organiza
tion lie made permanent,
of the committee on platform, which
was adopted, will be found below,
Nomination of Candidates,
dared in order. James F.
placed in nomination the present in
cumbent, Hugh Toole. In doing so he
referred to the splendid services ren
jdered the city by Mayor
that of the present council.
Mayor Toole's nomination was made
unanimously, and he responded with
a brief speech in which he expressed
appreciation for the honor conferred
jupon him by the republicans of Wal
lace for the fourth time. He refer
red especially to the proposed bond
ling of the city to build a new fire
station, how it could be accomplished
without imposing any noticeable bur
den upon the taxpayers, and urged his,
hearers to give earnest thought to the
proposition which would be submitted
at the approaching election.
For citv clerk , Harry C. McAllister
in nomination L. L. Leighty, ,
who was nominated by unanimous
(vote
Likewise Chas. A. Keating was re
j_ 1
Tlie report
for mayor being de
McCarthy
Nominations
Toole and
OF SILVER
I uiiuilltuk wi j
UNDER THE PITIMANACT
MACBETH EXPLAINS RECENT
ANNOUNCEMENT OF MINT
DIRECTOR.
in a dispatch from Washington to the j
effect that the director of the mint
1 estimated that silver purchases by thej
KOVernment under tlie terms of the
RRtman ac t would probably be com
p]eted by July x canie as a surprise I
silver producers, who had looked
forward to rece iving $1 per ounce tor |
SPV ,, nl j montlm beyond that dale,
explanatlon 0 f this announcement, I
RaveneI Macbeth, secretary of the
Idaho Mining association, who is now
jR tbe cjty and who was in Washing
^ on dur j n g the recent session of con
eress _ tells how this announcement
came tQ be made by tb e director of
the mjnt and its reaI significance,
whicb is <(1J ii e different from the pop
understanding.
The recent announcement contained
1,1
Confers With Director.
Last January Mr. Macbeth says he
received a letter from Arthur
of the Talache
Bur
roughs, Jr., manager
Mines, Inc., at Talache,
which he stated that as his company
Idaho, in
producing about 1.000,000 ounces
was
of silver per year, he was interested
to know how his company would be
protected in the price of its product as
the time approached when the gov
ernment would discontinue purchas
AH other
ing silver at $1 per ounce,
silver producers were of course in the
position as the Talache
corn
same
pany, and this situation led Mr. Mac
beth to confer with the director of the
(Continued on Page 6.)
his
nominated for city treasurer,
name being presented by Herman J
1 loss I.
Councilmen and Committeemen.
A recess
of fifteen minutes was tak
permit delegates from the sev
en |i
eral words to nominate candidates for
and
■ere ratified
^
councilmen and committeemen,
upon reassembling these
by the convention. The names of the
committeemen follow:
First ward: H. C. Adaml, M.
Corner.
Second ward: R. T. Strachen. Chas.
E. Horning.
Third ward: W. J. Stratton, John
Batts.
Fourth ward: W. W. Smith. P. O.
Swanson.
The only contest was in the fourth
ward, where Thomas Nicholson was {
an unsuccessful candidate for conn- I
room'ciiman against James I!. Teasdale.
The Platform.
"We commend the splendid busi-I
ness record of the present city ad
ministration of Wallace, and compli
ment its officers upon the excellent |
manner in which they have perform -
ed their duties and handled the vexa
tious tax problems
[fronted our officers for many years,
"Although faced with the handicap j
of less revenue, the present city ad
|
which have con
condR i ons and provided recreation,
not on)y f or tbe children of the com
munlty, but the adult members as
well; a tourist park has b<*£n con
structed and maintained In such a
manner as to add to the reputation of
Wallace throughout the land for its
hospitality
"The efficiency of our already splen
did lire department has been greatly
increased by the purchase and pay
have given in the past, but also to the
most rigid economy compatible with
the same, and to a harmonious and
sincere cooperation with federal,
state, county and city officials, in an
effort to fairly and impartially en
'force all laws and ordinances, with
out fear or favor."
- - —
ment for modern and effective fire
apparatus, and with a consequent re
duetton in fire rates. A movement
has been started for the construction
of a new fire hall, which, when and
as carried into completion will add
still greater to tlie efficiency of the
department, and will bring an addi
tional reduction in fire rates, as well
as affording a better protection to the
property owners of Wallace than is
enjoyed by any other city of its size
in tlie world.
"In spite of the expenditures which
have been made, the cost of the oper
ation of the city government has not
only been reduced, but the bonded In
debtedness of the city lias been en
tirely wiped out during the past two
years.
"If elected, we pledge our candi
dates not only to continue the pro
gressive administration which they
LOOKS LIKEBENIONHASl~—
INTERESTING DEVELOPMENT IS;
THE WIDE WEST VEIN
ATTRACTING MUCH
ATTENTION.
The discovery of a promising ore
shoot on the Wide West claim by the
Hecla company something over a year
ago a i rnOH t immediately attracted at
Nation to the possibility that
lvejn extended through the ground of
the Benton Mining company, lying
eas t 0 f «he W r ide West and separated
from R by ab0 ut 1000 feet.
Rent0 n, some 800 feet
this
This pos
sibility became a probability when
that what had been
survey showed
vein on the
south of the
main Benton vein, was in direct line
known as the antimony
vein where the
Since that time
with the Wide West
discovery was made.
work in a limited way has been pro-j
greasing on the Benton, a description
of which was published in a recent
A little iead-sil
issue of tlie Miner,
ver ore has been found from time to
time, and the appearance of the vein
is decidedly favorable for ore. Fur
ther encouragement for ore is found
in the recent strike on the Wide West
made by the Hecla company 600 feet
below the upper tunnel. The plans of
the Benton company are briefly stat
ed In the following letter to stock
holders from John Callahan, presi
dent. issued under date of March 31 :
Continue Development.
"Due to the developments and ef
fects of the war, your property has
been Idle since 1918, until this last
summer. On general improvement in
business, and particularly in the min
(Continued on Page 6.)
TAMARACK DIVIDEND.
Company Pays First Dividend
1920—2 Cents Per Share.
i dividend
Since
April
check m
t >i
were
Oders of the
I mailed
: Tamarack &
the
Custer Consolidated Mi
1920.
The
li
llrst since
impany paid $75,000.
as at the rate of
I mag company,
I when file
dividend Just paid
2 cents per share on 5.000,000 shares,
amounting to $100,000,
brings the total dividends paid by the
Tills
payment
company
ors
up to $621.992.
Recent rum
thls
are to lb<
effect that
dis
if regu
are
bursement is the beginning
lar dividend
uyinents. hut these
without olllci il conlirmation.
is reported to be making
rapid progress in extending No. 7
tunnel, formerly known as Mammoth
No. 6. and when connection is made
will ho the
company
this
with tlie workings
permanent outlet for the mine.
SLATE CHEEK PLATINUM"™
WARNED AGAINST FAKE ASSAY
ERS, BUT GAVE NO OPINION
ON THE DISCOVERY.
I
ceal issue ol Hie Spokai
- "• Moe, manager of tl
*"K conipunj, indulges in some
lu un interview published in a re
i Chronicle,
; Royal Mi- |
un- I
warranted criticism of "a certain uni
versity school of mines" with respect
to its attitude toward alleged platin
um discoveries on Slate creek and al
so of u Wallace paper for publishing
articles condemning the same. In the
course of ids staleuu.nl us published,
Mr. Mue says;
High Assays From Royal.
"Platinum deposits in the Royal
kith of 200 feet
Piopeitj luno a
and run straight into a high
mountain, where a vein
traced for several thousand feet.
Samples of the ore assayed by D.
L. Johnston and G. A. Dozier,
chemist from Grants Pass, Ore.,
showed values of from $500 to
$1100 a tun in gold, platinum and
iridium. Evidently samples of
tile ore fell into tlie hands of a
he hacts ,n ° ase '
ibis reference to "a certain univer
.s.ly school of mines evidently
fers to un authorized statement
Francis A. Thomson, dean of the Ida
ho school of mines and secretary of
the state bureau of mines and geolo
«*• wWch was P ublished in the Mlner
L
;
[
| J
be
i certain university school of mines,
for Immediately there appeared in
j Spokane and Wallace papers ar
ticles condemning tlie proposition
and slating tiial platinum could
nut be found in such formations.
Tlie assayers from southern Ore
gon were branded as fakers and
meal ticket assayers, preying up
This
on innocent prospectors,
statement, ol' course, had its ei
fect, so that the whole thing was
dropped as far as our company
was concerned."
re
I»
tsssxz
jiers. As a matter of justice to Mr.
j Thomson and the school of mines,
land also to free the Miner from the
j insinuation contained in Mr. Moe's
I statement, what Mr. Thomson said rc
I gardlng platinum on Slate creek, and
a n that he said, is reproduced below
It will be observed that no reference
whatever is made to the property of
the Royal Mining company and in
fact it was not known at that time, at
'least so far as this paper is concern
çd ' that the coinpany claimed to have
platinum ore. The statement from
Thomson was merely to warn
prospectors and others against irre
sponsible assayers, and it must
able service.
Reputation of Oregon Assayers.
"I have noted in your issue of No
he
conceded that he performed
His statement follows:
a valu
vember 3 a reported discovery of
a.platinum on the Macedonia claim, on
Slate creek, the evidence in the case
being that assays on the Slate creek
samples were made by a reputed as
snyer at Grants Pass showing 1 96 oz.
of platinum.
Slate creek property,
Miner and to the mining people in
general, I feel it my duty to point out
that the firm of assayers quoted en
joys a very unwholesome reputation
in their own state. In a recent letter
from a state official in Oregon, which
I shall be glad to show to anyone in
terested, appears the following state
"In fairness to the owners of the
the Wallace
ment:
platinum
inspiration
comes from a couple of unscrup
ulous assayers in Grants Pass,
who apparently have no other
way of getting a meal ticket than
to deceive the public by giving
optimistic and erroneous assays
" 'This
on lump assays of ore and thus
tempting the prospector to repeat
many times, while they sit and
collect the assay fees. It is rath
(Continued on Rage 6.)
FOB TOE PAST YEAR
ADD TO ORE RESERVES
Conditions Galena and Plans
for Speeding Up Develop
ment of the Property
* ■ ' 11 *•
I Zim
£ year ending December 31.
which includes
erations during
Borg,
by C. W.
REPORT of the
Callahan
t lie
Zinc-Lead
for
company
1922.
a review of op
the
by John
year
president;
Newton,
report on properties
general manager;
land financial report by H. T. McMee
As a
center piece t lie
•port lias a t
plant
Callahan mine.
view of Hie
and buildings at
o-page
the
The first ten months
f fho year operations
confined
er«
mainly to development,
monts were resumed on November 15
and from that time to the close of the
year 2728 tuns
Actual ship
of zinc concentrates
shipped,
was 4.76
and 1556 tons of lead
The ratio of concentration
were
tons ti
tons in 1920.
from S4.
which is explained
one us compared with 3.24
Zinc recovery declined
per cent to 74.92 per cent,
by shortage of
|
winter months.
President Borg stales that
sive plan of exploration and develop
ment is planned for 1923,
an exten
w hielt is
expected to make important additions
to ore reserves.
President Borg re
fers to the acquisition of the Galena
Mining company, of which lie says:
Increase Earning Power.
"Commercial ore lias been develop
ed on live levels, and plans have been
made to prosecute
comprehensive
program lor the rapid development of
properties, in order to
l lie Galena
place them on a productive and earn
ing basis us soon
with sound mining practice,
management is of the opinion that
the newly acquired Galena properties
will lie a material factor in the future
as is consistent
Your
earning power of your company.
New Sales Contracts.
"Prior to the resumption of ship
ments in November, your manage
ment closed a new contract with tlie
American Smelting &. Refining
pany, under the terms of which that
company will purchase our entire out
put of lead-silver concentrates for a
period of five years from November
1922. A material saving lias been
established over our former contract.
A new contract with Hie Grasselli
Chemical company for the purchase
COII1
15,
of our entire output of zinc concen
trates for
two-year period was also
consummated during the period.
Freight Rates.
"A factor of considerable import
ance in Hie future operations of your
company is the reduction in freight
rates from far western points. Freight
costs on our zinc output have been
reduced from $18.50 to $13.50 per ton.
Under the terms of our new lead con
tract with the American Smelting &
Refining company, our lead product is
now shipped to East Helena. Mon
tana, which point takes an everage
freight rate of about $4 per ton
against a minimum rate of about $13
per ton when our product was deliv
erable at Fueblo, Colo., under tlie
terms of our previous contract.
Metal Markets.
"The past year has witnessed a re
markable improvement in metal
ket conditions. As forecast
last annual report, there has been
progressive expansion in the demand
for zinc and lead, with the result that
surplus stocks of these metals in the
hands of refineries and smelters
now at tlie lowest point in years. This
has caused a corresponding advance
in the market price for these metals,
with the result that zinc has advanc
ed from a low of 4.2 in 1921 to a pres
ent level of 7.8 cents per pound. Dur
ing the same period the price of lead
has advanced from a low of 4.6 to a
as
mar
in em
a
are
present level of 8.2 cents per pound.
Brice levels are now at the highest
point in three years, and authorities
in the non-ferrous metal industry are
of the opinion that these prices will
be maintained during the current
year.
Financial.
"There has been a material im
provement in the financial position of
your company during the year. Cur
rent assets are now $1,175,073.83, as
against total current liabilities of $76.
114.95, which represents a ratio of 15
to 1. Your company has no funded
indebtedness, and has net current as
sets amounting to $1,098,958.88."
Manager's Report.
C. W. Newton, general manager ot
the Callahan mine, gives in consider
able detail the development work ac
complished. and states that in No
vemher and December the mill han
I died
approximately 600 tons of ore a
day, the mill feed averaging about
6per cent lead and 1014 per cent
(Continued on Page 6.)