The Wallace miner. [volume], February 07, 1924, Image 1

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

Image provided by: Idaho State Historical Society

                
Stockholders
Netal Quotations
THE WALLACE MINER
Lead. 8.15c.
Silver, 63!/aC.
Zinc, 6.65@6.75c.
Copper, 12?4c.
AND COMPANY NOTICES
OF INTERST TO THEM
IN THE WALLACE MINER
WILL FIND MINING NEWS
NO. 52.
VOL. XVII.
WALLACE, IDAHO, THURSDAY. FEBRUARY 7, 1924.
FIVE CENTS THE COPY.
REPORT CALEDONIA
FOR THE PAST YEAR
PROFIT OVER 50,000
Large Cash Surplus-Remark
able Record of This Rich
and Famous Mine
HE CALEDONIA Mining com
pany continues to earn a sub
stantial profit, although the
mine itself has ceased to be pro
ductive and the management finds no
encouragement in its prolonged ef
forts to find a new ore body. But the
old stope filling has proved to be a
valuable asset of the company and
T
during the past year has provided ma
terial for treatment by the Talnton
process which averaged 6.11 per cent
lead and 19.13 ounces in silver, and
from which was derived a net profit
for the year 1923 of $50,889.19.
Caledonia was in some respects the
most remarkable mine in the Coeur
d'Alene district. Its outstanding fea
content of
The
ture was the high silver
the ore, and in its early history it
made shipments which
been equalled in value by any other
mine of the district. This value was
chiefly in silver. The ore also carried
a high percentage of lead, and in ad
dition to this it also contained copper
extent that made a substantial
have never
to an
addition to the smelter returns, some
thing that never occurred in connec
tion with shipments from any other
silver-lead mine in the district.
Caledonia has paid in dividends $4.
382,868. In 1917 the dividend peak was
reached, when the company paid $937,
800. The year before it paid $911,750.
and in 1918 it paid $885.700.
high figures reflect war prices for lead
The last year in which
The
These
and silver,
the company paid dividends was 1921,
when $240.918 was disbursed.
now has a cash surplus of
The
company
$374,860.52 which Is being held pend
ing final adjustment of federal taxes.
, r t r.f ctnnly A. Easton, pres
>
for
ident of the Caledonia company,
the year 1923. follows:
Operations During the Year.
to you the ac
»
"I am submitting
companying statement of the opera- |
for the calen
tions of your company
dar year 1923 and financial statement
of December 31, 1923.
"It will be noted that our produc
tion, which came entirely from the re
covering of old stope filling left by
former operators, resulted in a larger
yield of such material than during the
former year, and with the better meL;^
al prices received gave for the yeai a
substantial increased profit. It Is im
. . H ,,
ular and we do not have definite in
formation «1,0 ...peel to ... prçMW
extent. It hardly caTi be expected that
the 1923 production can be duplicated
increased during 1924, but enough
certainly onn he reclaimed to care for
nil current expense. No new ore has.
been discovered since my last
and I regret there Is no
can
and it is possible that
during the current year a final settle
ment «in be made; but because of the
unable to say when
as
possible to predict just what can he
done during the current year from the
hich yielded this material,
sources w
as its occurrence and value are irreg
ment to you,
reason
done.
for hoping that such
4
"Progress is being made on the ad
justment of amounts due the govern
ment for federal income
and excess
profits taxes
uncertainty I am
und in what amount the disbursement
of the company's remaining assets can
he made to you In the form of a final
300,000.00
846.00
dividend."
Financial Statement.
$ 75,359.58
Cash In banks .
Liberty bonds .
Treasury saving certificates
$376.205.58
1 - 345 0B
Total .
Less current accounts
$374.860.52
Surplus
Production and Operating Costs.
Total dry tons, 6166.82.
753,472 lbs lead .
117,990.72 ozs. silver
2506.17 lbs. copper
$ 51.622.71
83.963.34
350.63
_j
«135 936 68
Gross value bullion . % "
Less smelter deductions 53,897.5,
$ 82,039.09
31,149.90
Net value bullion .
Mining and shipping costs ..
.$ 50,889.19
Profit
Old Dominion.
have taken an
The Day interests
option on control of the Old Domin
ion mine at Colville, Wash,
famous old producer and recently it
was announced that a new shoot of
high grade ore bad been discovered.
which is expected to exceed the mines
former record of production and pro
This is a
fits.
STRATTON ORE SHIPMENT
TO BUNKER HILL SMELTER
NET RETURN OVER $2000
The Stratton mine continues to
I be the most interesting new de
velopment in the district. From
an obscure prospect of uncertain
value, within five months
tically continuous ore shoot has
been developed for a length of
250 feet, two carloads of ore re
covered in the course of develop
ment, and from present indica
tions the returns from ore ship
ments will meet all operating ex
penses. Few mines in the dis
trict have made such a remark
able record. The first carload of
shipped to the Kast Hel
a net re
turn of $50 per ton. The smelter
return showed that the ore us
lead and
Returns for the
prac
ore was
ena smelter and gave
26
suyed 38 per cent
ounces in silver,
last shipment have not been re
ceived, but the results
pling at the smelter were receiv
ed yesterday,
on its value.
of sam
which give a line
The lead content
silver 31
$60
44.6 per cent and
representing about
was
ounces,
35
The shipment was
per ton.
tons and the net smelter return
The last
is estimated at $2200.
shipment was all crude ore as it
came from the mine,
also on hand probably 12 tons of
jig product which was not ship
ped. A carefully taken sample ol
this product
week which showed 42 per cent
in silver.
There was
this
assayed
was
lead and 32.2
With this jig product as a starter,
it is expected that another ship
ment will soon be made.
ounces
IN
BIG IMPROVEMENT NOTED
CROSSCUT THROUGH GREAT
FISSURE ZONE.
the Lookout Mountain
Reports from
of Pine creek, indicate that the cross
the original workings
cut north from
is entering a body of lead-silver ore.
This work is being done upon the re
commendation of Oscar Hershey, the
connected
geologist
1th the Bunker Hill & Sullivan com
careful study
widely known
„
IPany, who has made a
conditions of the property.
h
«
of geologic
far disclosed by the
<
rnad< ' " 'formation was an offshoot
a i ranch ^ ^ maln veln several
feet north an d which lie des
a3 the .. Great Fissure Zone."
Referring to this zone he said that "it
.probably accounts for Assuring and
i'mineralization in the eastern portion
of the Lookout claim. It may extend
„mtward a long distance and
'„„J. Poor of .0.
Highland-Surprise
i, Sidney and
c,„ ot . a h!a to Ore
Concht.ons F.v.r.t>l. to One.
After " 1 ^fissure
state-;ditions oft *
which may possibly ha _
be!200 feet or more. Mr. Hershey sa>
"There will be a chance for six con
with quartzite in the walls. Fur
ithin tlie fractured zone
there will be three belts of broken
0«*^ seem^to me^that
gtructlira l conditions make possl
shoots of considerable
We 1«* ^ „
Conditions so
crosscut have conformed
Mr. Hershey's predictions,
conclusion that the former
ment of the Lookout Mountain, which
showing of ore in a
closely to
It was his
develop
I,
mines."
zone,
width of
tacts
thermore, w
Dewey clalm
* avora ble for ore. and the same
^ pf fbe p. eat fl ssu re zone. Un
less these sections have been explored
'and found valueless. T will look upon
'the development of your property as
a rathcr attractive speculation."
Q re increasing.
great landslide on
conditions
appear
de
a little more
the zone
The crosscut is now
j tkan half way across
scribed. From the time the zone was
entered a little ore has been encoun
tered, and during the past week
\ias been a marked Increase. At o
prsent rate of improvement the cross
cut should soon be in a good grade of
milling ore. with a strong probability
body of high grade before
is reached.
of finding a
the north wall of the zone
in any event, the showing now dis
'dosed' gives reasonable assurance of a
1 0 re at depth. This can
fe attained by a tunnel which b**
recommended by Fred W. Calla
mining engineer, who made a
r ay - renort on the property. This
™v° ,*® , d lve 10 «o feet depth and
tnnne w be ln close proximity
its P° r ay tlnig providinp means!
1 e „nomically mining and deliver
ec ' transportation to the
" 7, f ir what
are sorry < ^ for
I
been
to
for
Many men are
ha\ e onP ~ * omitted to do.
w a - p difference to a man
whither a girl smiles or laughs at him
ing the ore for
smelter.
Northern Pacific and 0.-W.R.& N. Willj
Provide Service—-Accomodate
Employees of the Mines
EGINNING TODAY the Northern Pacific and O.-W. It. & N.
passenger train service between Wal
f the mines
The North
leaving Wallace at 6:00
on shift at
afternoon train,
off shift. The
schedule, however, Is subject to change if found desirable to meet the
convenience of patrons, the controlling idea being to deliver the men
at the mines with sufficient time to change before 7:00 o'clock and
bring them back in the afternoon with as little delay as possible af
ter coming off shift. Both companies
equipment, which will be provided by the Northern Pacific, the cars
being left at Burke in the morning and brought back by the O.-W.
in the afternoon.
B
will join in providing
lace and Burke that will accommodate employes
who now live or may desite to live in Wallace.
ern Pacific will operate the morning train,
o'clock and arriving at Burke in time for employes to g
7:00 o'clock, and the O.-W. R. & N. will take the
leaving Burke at 4:30 or 4:45 after the men come
I
will use the same train
How It Came About.
At the hearing in this city last December before the state util
ities commission on the application of the Northern Pacific to per
manently discontinue the canyon passenger service, the special
vhile expressly disclaiming any desire
com -
mittee of the board of trade,
to force the Northern Pacific to restore its former service, urged the
commission to require both the Northern Pacific and O.-W. R. & N.
to join in providing the service that has just been established. The
Pacific at once agreed to put on the morning
the O.-W. It. & N. declined to join. The commission evidently recog
nized that the people here were entitled to this service and follow
ing the hearing efforts were made to induce the O.-W .
Finally the Northern Pacific was requested to put on
train, but
Northern
R. & N. to
to participate.
tlie morning train, and the local agent of the company was advised
yesterday morning that the train would start this morning.
General Manager Arrives.
p. O'Brien, general manager of the O.-W. R. &
He was
superintendent of the Wash
und passenger
Yesterday J.
N., arrived in his private car attached to the noon train.
Connelly,
accompanied by William
ington division, and C. T. McArthur, district freight
In the afternoon Mr. O'Brien and his party went to Burke
F. McCarthy, general
agent.
in his private car, conferred with James
and inspected the new
id opportunity to gain on
road
manager of the Hecla Mining company,
Hecla plunt. Mr. O'Brien also probably 1
impression of lodging and living conditions in the canyon, the
with its ruts, and the joys of jitney travel over
O'Brien returned to Wallace he instructed H. J. Arnett,
it. In any event.
when Mr.
local agent of the company, to call up the special board of trade
committee and inform them that the O.-W. R. & N. would join in
afternoon
operating the
i
providing Wallace-Burke train service,
train.
Must Have Patronage.
j
t
j
I
effort« of the Wallace board of trade to secure
It is now up to the
•olenged
this train service has at last been successful,
people of Wallace and the canyon to patronize the trains in order
A recent survey shows that there
to make the service permanent,
are many available
and these will be filled as it becomes evident that the train service
j
apartments and residences In Wallace,
•ooms.
is here to stay.
:
;
!
{
(
j
I
J
I
Lincoln Day Banquet to Be Big Gather
ing of Republicans
banquet have been
RRANGEMENTS for the Lincoln day
practically completed, according to announcement yesterday
by A. W. Hoover, secretary of the republican county
mittee and chairman of ihe committee in charge. Al! that
remains now is the sale of tickets, and judged by the widespread
republican event, there will he a big de
restaurant, be
A
com
interest in this annual
The banquet will be held at the Banquet
Donald A. Callahan will preside as toast
mand.
ginning at 8:00 o'clock.
that there will he no dull periods in the
made by
master, which assures
The principal address of the evening will be
program.
John P. Gray, of Coeur d'Alene, and during the evening several 5
minute speeches will be made, one of which will be by Stanly A.
A novel feature will be introduced by Walter
Easton, of Kellogg.
C. Clark, electrical engineer of the Bunker Hill & Sullivan, who Is
arranging to broadcast the main address
The popular Boyd-Flsher orchestra will provide the
I
through the Bunker
Hill station,
music, and it is probable that there will be vocal selections also.
From present indications there will be a large attendance from all
A meeting of the county central committee
parts of the county,
has been called for the same evening to meet in the court house
at 6.45.
|
Crosscut Believed to Be Nearing the
Crosscut Believed
INDEPENDENT.
Vein.
John H. Nordquist, manager of the
Independent Copper Mining & MilllnK
company, stated yesterday that the
crosscut from the National workings
should soon cut the vein, based upon
» mîtes and the mineralized
survey es 1 '
jeondition.
j t h r ee stringers, some of them carry
in g more or
an( j one 0 f them
diatancei but without showing mater
i lal change. The crosscut will cut the
Since starting the crosscut
less galena, had been cut,
followed some
was
j ead _ si i ver was found.
Jugtlfleg the expectation of finding
commercial ore when the vein is
reachsd.
__
IMPERIAL.
-
Letter to Stockholders Outlines the
Plans of the Company.
| stockholders of the Imperial Mining
(company have received a letter from
Homer G. Brown, secretary, in which
he describes conditions at the prop- j
and plans of development now
(under way. He says in part:
I "Since resuming work development
In accordance
vein at a depth of 1000 feet below the
800 feet below the
upper tunnel and
shaft level, where a good showing of
and one that
(has been carried out
|wlth recommendations of Stanley R
===
Moore, who examined the property
last spring, and an attempt was made
to go through the heavy Row of wa
that wag encountere d at the time
work was discontinued
However, it was
in December.
impossible to
^
make any headway at that point and
wag thought advisable to try cross-jed
cutting at a point beyond and to the
least. Drifting was started in that di-jof
rection and after going about 50 feet
another flow of water was encoun
tered, which has drained the water at
the first point and it is now possible
Work will
to continue work there.
be continued as at first planned
now
for a reasonable length of time and If
nothing important develops diamond
drilling will be commenced."
Crosscutting From Bottom o
to the Vem.
Following the discovery of a prom
ising lead showing associated with
(quartzite on the 1100 level, the man
lagement of the Callahan Zinc-Lead
company decided to extend the shaft
2 00 feet deeper and explore the vein
on the new level The extension of
the shaft has been completed and this
jweek crosscutt'^g started to the vein.
The result of this work is being
watched with much Interest, as the
(conditions indicate a possibility of ore
disclosures in which lead will super
cede zinc as the chief product of the
CALLAHAN.
Shaft
mine.
NON-PRODUCTIVE MINING
IN BOUNDARY COUNTY IN
1923 OVER HALF MILLION
Non-productive and non-divi
dend paying mining companies in
Boundary county spent $665,240
during tile year 1923, and expendi
tures on unpatented mining claims
by individual owpers. 122 claims,
represented $12,200, making the
grand total paid out in non-pro
ductive mining $077,440.
figures were compiled by Ravenel
Macbeth, secretary of the Idaho
Mining association, the figures
being obtained from the books of
the companies
from the county records. Thi
expenditures were distributed
follows: For labor, $386,460: sup
plies, $104.100; mill equipment,
$92.250; mining machinery. $3300;
power, $79,130; total for non-pro
ductive and non-dividend paying
companies. $1,65.210. Annual as
sessment work on unpatented
claims, 122 at $100 each, $12,200.
Grand total, $667,440. Mr. Mac
These
and
concerned
as
beth expects to have the survey of
Bonner completed today, and
will then takr up Kootenai coun
followed by Benewah, Latah
other northern Idaho
This will probably oc
ty,
and all
counties.
cupy two weeks,
proceed to southern Idaho
cover all mining counties,
work Mr. Macbeth
this respect will print
vnlue in bringing ti
He will then
and
The
is doing in
of great
public atten
Importance
the
the tremendous
mining industry
tlon
of the
state of Idaho.
to
MU EXPLORING GUT
EEMLIER ORE BOD)
ON
ACCUMULATING MUCH ORE
DUMP—LYNN DIRECTORS
STILL HERE.
1 among the fortunate stockholders and
those who are speculating in the stock,
! but especially among the people of the
I Coeur d'Alene district, who see in the
mine to add its
the center
interest not merely
i The Ajax continues to i
of widespread
wealth to the world and contribute to
the prosperity of the Coeur d'Alenes.
Soon after the great strike was made
J A. C. Blxby, the manager, was joined
large
I Ajax aother great
and
directors
other
! by two
j stockholders, H. W. Woodward
if Lynn, Mass.,
and
,
city in which a large amount of Ajax
! stock is hehl and where it has been
Geo. E. Sprague,
mainly financed during the many years
I during which the property has been
' under continuous development. Mr
i Woodward left last week to spend
'few days in Portland visiting his son
to Wallace
Mr. Sprague is still here
f his time at the mine
iand is expected to return
tomorrow.
j spending most
and Mr. Bixby
to the future
a productive
information Is
are
These directors
j giving much attention
I plans to place Ajax
basis, but of these n<
i available at this time.
Drifting on Ore.
j After cutting the big ore body,
great Ajax crosscut was
considerable distance, probably 75
beyond the vein in order to prospect
the ground and also to provide oper
With that completed a
on
thc
continued
a
feel
ating room,
drift was started west, which has now
the ore be
advanced about 75 leet.
j ing of the same grade as that describ
ed when the strike was made. The
lore throughout its entire width is es
I timated to average from 15 to
I cent lead and is ideally adapted I",
concentration. There are numerous
I streaks and bunches of clean galena
I which can be sorted for shipment. The
j entire face of the drift being in ore,
I there is a large and rapidly growing
accumulation of ore on the dump. Ai
j rangements will soon be made to start
(drifting east, and there will soon be a
20 pei
; large block of stoping ground access
1 ible. Although there is no official in
the subject, it is regard
manage-!
' formation on
probable that the Ajax
i ment will secure one of the idle mills
the district, which would enable
i the company to begin production •
! early date, which is especially desir "
able on account of the high pi ice 01
lead.
I ——
BOARD OF TRADE.
Meeting Will Be Held Friday to Hear
I
j
„
body would be addressed by Dr F.
Short, educational director of the J
C. Penney compsAy. This company
owns hundreds of stores throughout
the country, and its educational di
rector will speak on the underlying
; principles of successful business.
[ President Hull also announced that
| Platt P. Morrow, representative of t,le
| Yellowstone trail in Idaho, would leave
j the following day to attend the annual
, meeting of the association in St. Paul,
and stated that Mr. Morrow would be
; glad to have any suggestions from
.members regarding his work at the
Address.
Al the meeting of the board of trade
H. J. Hull an
of the
board, that the meeting next week
would be held on Friday, when the
yesterday President
nounced, with the approval
meeting.
ACDMJIM0 IUIAKOIAI
nuinimu mmumu.
HEARD BY BOARD TRADE
Speaker for Cement Associa
tion Presents Cases to
Large Assemblege
14 E CONCRETE people had
their inning at the meeting of
the board of trade yesterday
and they made the most of it.
As was the case last week when bit
T
ulithic went to hat, there was a large
videspread
indicating a
attendance.
! interest in the type of paving to be
used on the highway under construc
tion between Mullan and Kellogg.
\
was present from
Wallace people
large delegation
Kellogg, and many
who seldom attend meetings of the
President
j hoard were also there.
! Hull announced that the usual rou
itlne of business would be dispensed
i with in order to give a hearing to a
of the Portland Ce
I representative
I ment association in advocacy of con
! crete as a paving material on public
He stated that two con
present.
highways.
j crete representatives
I F. H. Richardson, field representative
(of the Portland Cement association;
and H. L Hadley, district engineer.
Mr. Richardson
were
and Introduced
the spokesman.
Not a Contracting Company.
ns
to be an
concrete, and
Mr. Richardson proved
effective advocate for
I at the close of his remarks respond
liiestions. He stated
that the Portland
ed to numerous
j In the I jgyi nnlng
Cement association
had no interest
other than to see
iln any contract
i that the people who paid for It ob
jtained a good job.
Is composed of a large number of ce
[ ment companies, and its représenta -
i tJves coopera te with contractors in
I
|
j
i
The association
The
of concrete work.
all manner
if automo
has
rapid increase in the use
Idles during the past 15 years
I «leveloped new types of paving,
)hc maUer of paving. Mr. Richardson
] Kjdd that some people continue
In
to
for their own experience.
by the experi
He cited the road
of Illinois, involv
Six
whiie
pay
others wisely profit
i
ence of others.
; building program
| )ng expen diture of $100,000.00«.
i ty.three types of paving were tested
^ running heavy tducks over them
I
j
j
The only types that
until destroyed,
stood the test were concrete ranging
Stfc'to 8 Inches thick, and black
of equal
a
! from
base
top with a concrete
thickness. He said thnt in 1923 Illi
laid 1000 miles of concrete road
I nois
I I way, and had now purchased' 4 , 000 ,
,»f cement, which means
|
I
j
000 barrel
the construction of another 1000 miles
this year.
No Crushed Rock Needed.
Richardson especially empha
rock base for
Mr.
j sized that a crushed
! concrete is not needed,
said if crushed rock is used it would
he an-actual loss if concrete is laid,
j although an actual necessity for the
He mentioned many states
In fact, he
I
blacktop.
allere concrete had been adopted af
pavings had been tested.
ter various
! and said that since the federal gov
been
in
cooperating
ernmenl had
road construction 84 per cent of the
were concrete.
wa8
said,
j conc ,, e ( e
I ^ per cet „f
! by thg gtate was concrete; 66 per cent
1922 , and 90 per cent In 1923, al
j though he admitted that little pav
'
|
federal aid ^projects
Even in Oregon, which a fe
strong for
lias
He
years
the blacktop,
turned to
that in 1921
the paving
now
(aid
laid
in those
of a
ing was laid by the state
years. He quoted the head
]ar( , e au tomoblle stage company
Q a jR 0rn j a strongly favoring concrete,
j
in
iweai
crete
1
Mr Richardson
bitulitlilc paving on Wallace
j wag exC ellent, which he attributed to
; tj ie superior foundation, but he con
; tended that there would be a differ
In the city
was less tire
i contending that there
■ and less gas consumed on con
Bitulithic on Highways.
conceded that the
streets
ent story on the highway,
the speed of cars is less and they do
nQt foUow , n the same trac k. Traf
fic covers the entire street, while on
it would follow fixed
1 comparing concrete
oyer a period 0 f years, and said that
; so far as ma intt*nance costs are con
! oerned comparison could not be made
;
! coun ting in different states,
: that concrete should be from 5% to
7 or 8 inc he8 thick; that 6 inches was
t hi C k enough and that bitulithic the
l same thickness would cost about the
same Making It thinner costs less,
an(J tbat jg why concrete Is subjected
' unfair competition.
j Responding to a question by Harry
I
I
ithe highway
( lines on each side of the paving and
The same paving on an
: cause ruts.
18-foot roadway he contended would
He gave figures
and bitulithic
not stand the traffic.
account of varying systems of ac
He said
• n
(Continued on Page 5.)