The semi-weekly tribune. [volume] (Great Falls, Mont.) 1890-1891, 1890-07-12
THE FRI At DRUM LUMMoN.
Interesting Details of Plans and Pros

peCtS.
A circular dated London. June Gath,
just published, states: The results Of the
operations of the mine from January LIST,
1890, to the present time, and an estimate
of the co%mpany's financial position to the
Both instant, permit the directors to de
clare a further dividend for the current
half year Of three pence per share, free
of income tax, payable on and after July
10th proximo, being at the rate of five per
cent per annnm. The profits made would
have permitted a larger dividend had it
not been advisable to provide out of the
revenue of the present half-year part of
the cost OF the new pumping %engine,now
ready for shipment. The expenses of
the lawsuit with the owners of the Hope
Lode Claim preferred to in the directors
last %half-yearly report) have been very
heavy, but the directors are glad to be
enabled to state that judgment in this
action has been given in favor of the
Montana company upon all points. The
following extract from the resident
directors report, dated 2lst ult., will
show that the development in the 1000
feet level and ut the north end of the
workings, justify a favorable view of the
prospects Of the mine:
Up to the present time | have not had
much opportunity Of making h close ex-
animation of the mine, but ! have been
all through the workings below the 400
feet level with Mr.. Robinson and Mr..
Henley; and | find the developments up
on the Empire lode and from the No. 2
shaft northwards presenting an appear
ance which would seem to Justify to the
fullest extent every word | said ut the
shareholders meeting. In fact, had it
been possible for me to control the de-
velopments in order to accord with the
statements | then made, it would have
been impossible for me TO suggest any
thing which would have more fully con
firmed what | then said, than the work
which has been done during my absence.
with regard to the Empire, until a
connection is made with the Cruise level,
which will consume another two months
WORK, it IS not possible to do much de-
velopment from the 400-foot level, as the
ventilation there is not good by any
means, and we cannot possibly operate
more than two or three machine drills.
But, as far as the drill has been advanced,
it has opened up an ore body which is of
considerable extent and Of good average
grade, and which j%ustifies the opinion
that the Empire mine is going to prove a
most valuable purchase. 1t is without
question the most important discovery
that has been made during the past three
years; and ] look forward with the very
greatest expectation to the developments
made in this direction during the next
six months, placing at our disposal by
the end of the wear a large body of high
grade ore.
The 1,OOO-feet level from No. 2 shaft
(northwardl.--The development on the
new shute encountered in this level
(%northward of the No. 2 shaft is scarcely
OF less im~portantance than that made in
the Empire mine. The ore body has
now been opened up for a distance of
nearly 500 feet, and will average not less
than three feet wide, from which assays
varying from $40 10 800 per ton have
been obtained and the northern extremity
of the ore body has not been reached.
Although it is improbable that this shute
will go up for any great distance, as the
vein in the 800-feet level was practically
barren, we feel that We have every JUST
f~cation for looking for its continuance in
the 1,200-feet level, which will be reached
by the No. 2 shaft towards the end of
July, and In which we shall be able to
commence drifting some time in Septem-
Der. Should the developments in the l.
20O-feet level prove this ore body to exist
in equal proportions at that depth, it will
again add a large tonnage to the ore re.
serves, and taken in conjunction with the
Empire, will place us 10 a better position
than we ever have been in the rast."