The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1883-12-08
THE ALICE MINE.
New York Stockholders Sur
feited with Favorable Re-
ports and Clamor-
ing for Divi-
dends.
Respectfully Referred to the
Salt Lake MANAGEMENT.

The New York Engineering and
Mining Journal Of December LIST
publishes the following communica-
ton:
EDITOR ENGINEERING AND MIN
ING JOURNAL:
SIR: Can you aid some of the
Eastern stockholders of the Alice
Mihing Company to obtain late and
reliable information about the condi-
ton and prospects of the property?
What we desire ia Dividends; and if
it is not possible to pay them hon.
estly, we wish to know why it is not.
When dividends ceased in 1881, it
was understood that certain extern
sive and much needed improvements
were to he made. The shaft was to
be sunk deeper, the mills were to be
reconstructed, the Magma Charta and
the Valdemere claims were to be
paid; and all this being done, we ex-
pected that the property would be in
a condition to make larger profits
than before.
It is generally understood that the
Improvements have been made, and
that the company Is out of debt. In
September last, there were rumors
that, with the greatly increased pro-
duction and the accumulation of a
reserve fund, dividends would soon
be resumed. All the information
at the mine and mill by the enter
prising local newspapers is favorable
and encouraging. We hear that the
shaft has been sunk to the 80O-foot
level. and that stopping has been be-
gun there on the pay chute. The
vein is said to be strong and rich. On
the 10th of November, orr short time
previous to this date, the mine was
reported to be producing 60 car loads
of ore daily, assaying from $50 to 200
ounce per ton; ':better ore than any
taken out for years" The Magma
Charta was also sending from SO to
60 tons of ore to the mills
daily. The value of the prod,
uct for the month of October,
according to the Butte MINER, was
sos, 1885, SO, and the disbursements
SAL 600. According to the Salt Lake
Tribune, the shipments of bullion
from the mine for the year up to No
vember 5th, amounted to GAL bars of
silver, valued at 1851, 887.57. 1t is
presumed that this information is
correct. The product is large = at the
rate of over a million a year-and the
showing is favorable, but we have
very little Information about the
management and the expenses. Is
the property skillfully and economi-
cally managed? Are the ore proper
lv worked? These may be questions
for an expert to answer; but it is pos
sible that some of your able CORE
spondents at or near Butte may be
disposed to throw some light GU the
subject. STOCKHOLDERS.
The mining editor of the daily
MINER has heretofore had some
thing to say to the clamorous stock
holders of New York, with reference
to the large amount of development
work and heavy disbursements
made upon the Alice properties since
the cessation of dividends in 1881.
The ground was taken that in the &C
QUESTION of valuable property and
the increased value of the mines
by development, the stockholders
had been fully compensated for the
absence of dividends during the past
two years, but with the larse of
time and in view of the continued
magnificent output of the Alice prop
critics, it cannot be denied that the
present call of stockholders for infor-
nation regarding a resumption OF
dividends is made with some show
of reason. The mines are looking
well and showing al abundant sup
ply of forty and fifty dollar rock, up
on which the eighty stamps of the
two mills are steadily dropping,
while the working operation of the
properties is believed to be prac'
tical, scientific and economical, un-
der the management of Superintend'
ent w. E.. Hall. The plans and pur
poses of the directory, with reference
to the resumption of dividends, OF
any other subject, are something INC
fellow can find out" at this distance
from the powers that be, and for In
formation on that point the stock
holders are respectfully referred to
President Walker and the Salt LAX