The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1892-01-09

0Oelt{ WI - ....,oy>S n
w ~ Does not care TO men
81 names Of the purcnasuar'
4 - MT will disclose Tn
as soon us they come IN
Assion Of the interest," ere Il
= I'D. The controlliBpeen and
Inc mine will fe will occur.
Nv is and 26b be sold is repre-
20 reg the total Indebtedness
rho Monitor Iron Mining Com
5any; that is, the company will
dispose of just stock enough in
the property to square up all
outstanding indebtedness 10 the
first OF the year, and then begin
life anew. Supt. Clapp and MIR.
Redfeld have been busy this
week in the examination of the
company's books for the purpose
of getting at the exact indebted
ness OF the company, and us soon
as the report can be prepared,
the sale Twill be consummated
and the new stock holders come
in. This new arrangement. Mr..
CIapp says. will not change the
management of the property,
which will remain the same as
heretofore; but it will change the
policy, as il will place the com
pany in good shape as TO back
ing and enable it to work the
mine TO the full of its capacity.
ifneed be, and all the year round.
without hindrance. The Monitor
is one OF the most promising
properties in the district, has an
abundance of high grade ore and
is splendidly equipped for hand
ling it. but the company has been
handicapped by lack of capital
and has been unable TO do justice
To the property. 1t is earnestly
hoped that there will be no more
trouble i'm the future and that the
property can be wrought in keep
ing with its extensiveness, which
would show that the Monitor
mine is one of the big ones OF the
district. The Monitor mine is
situated in the northwest quarter
of the southeast quarter of sec
ton twenty, 1882, just over the
line from the Paint River mine.
another valuable property, and
was discovered in the summer Of
1887 by w. $. Coffman, of Chi
cago. and j. f.. Clapp, of South
Lyon, this state, the gentlemen
now officiating as president and
general managerof the company,
respectively. The mine has
shipped 50, 49, tons in three sea
sons, divided as follows; 1887,
2,34S tons; 1890, 81, l39 tons (;
1891, As, 600 tons.
THE GREAT WESTERN.
Preparations for receiving the
new plant of machinery at the
Great Western are being pushed
as rapidly as possible, and the
management is in hopes that the
new outfit will be in operation by
the twentieth instant. A room
2Sx40 feet has been built at the
west side of the old engine house,
and i'm this the new drums and
engine will be placed, on solid
foundation of stone set with ce
ment. The new machinery was
built by the Marinette Iron Works
of Duluth, Mimi, and consists
of one engine dimensioned lSx2l
and two six foot drums. This,
with the compressor and battery
of boilers which were recently
put in, will place the Westerns
hosting and driving facilities
at the very best. Lack OF prop
or machinery has long held this
mine back. The mine now has
a depth of $50 feet and sinking
is going for another level, the
ninth. This depth will be even
in both No. ! and No. 2 shafts.
About $50 tons of ore are daily
hoisted from the mine and placed
on stock dock, the stockpile now
nearly 10000 tons,
with the half of that which was
cleft over" The Western has
stock room for 10000 tons of ore
and will probably have the dock
nearly loaded before shipping
commences again.
THE GIBSON FIND.
AT the Michigan property,
Amasa, better known as the Glib
son find. the working shaft is be
ing dropped an additional fifty
feet, which will take il TO q depth
Of $50 feet, The surface is nine.
ty-five feet deep, which will leave
five feet to be opened as
the first level of the mine. 1t is
the intention of Supt. Thoburn
Gibson 10 get the level in work
Ing condition for The coming sea
bon. At u depth of 1870 feet the
dein was cross-cut and gave
didth OF clean ore between the
malls OF forty five feet; the vein
fas also opened ON length 100