The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-07-24
IT LOWERED DIVIDENDS.
The Slump In Silver Had Its Eff
fects on the Great De
Lamar.
A Depreciation Equivalent TO
About $4,000 in the
Production.
rho Old Time Placer Camp OF 1sinckioos
City Is Again Turning Gus
tho Dust,

At the recent meeting OF the sharehoio
,rs of tho De Lamar Mining company u
London the results of the years opera
lions were stated by the chairman as io'-
lows: 1--WE have taken from the mine y
total of 30. 1866 tons of milling and shipping
ore. which have yielded us 420O.99 lss ga
compared with In the preceding year 2l,is'
tons, yielding e152,0 s5 81 I'd. And sti' mai
bee done in spite of a depreciation IN 1ne
value of silver equivalent to about tl3.o'
on our d, oiuction. Or to pat this diner
ence in another way, had silver main
tanned it's value as compared with the pre-
eeding year We would have paia you
another 81 per cont dividend; and the COST
of production. instead OF remaining az
about 46l6 per cent as in the previous yeaf'
would have been only about ~ per cent
The assay value per ton of the ore millec
has risen, az regards gold. IRON
S17.s 2 TO 800. ~, while Ms regards silver
it has fallen f,om $3.50 to $l6.47; the tota
being $36.59 this year, against S36.1l i"s'
year. The savings have been slittls better
W.: 1857 por cent assay. S2.sS per cent bull
lion returns, against 81. SO per cont assay
g.. "a per csnt bullion returns last year
The cost per ton for mining and milling IL
the enlarged mill was $l4.62 perton, againa,
&14.47. and the average price obtained fo'
tue shipping ore. S4S2.S So per ton. as com
pared with $52S.4S. In dividends We nave
laid 2253a per cent. as against lI3S per GEM
last year; we hayc set aside, IS before
On 0nn Sop machinery rnn9WAl0, az W6ll az
tl5. 600 toward the purchase OF ADJOINING
Claims, and the balance carried forward 10
975S 49,. 3D., as compared with q, os. ~.
so you will see that but for the fall IN Sill
yer, and the l%olicy. ! may say, forced npon
us MS to adjoining claims. We would nave
come very near giving you q dlvlaeho lo'
She year Of 30 per cent.
THUS mucn as to the past; but no less
important 10 it to ascertain what may be
the prospect for the future. The reserves
ON MAJ oh 81, were placed BY Capt. Plnm-
iner at 14O, 600 tons. Of the gross value Of
$a33. so per ton. which compares with l2O.oUo
tons NJ the date of the previous rspo I, and
10. 600 to 80. 900 tons when the property WIS
acuuired-this after having extracted in the
two years, as ! have just mentioned, 5l.3l2
tons. We have, therefore, in sight at our
resent or Immediately prospective rate OF
consumption, FROM four to tour and a half
years. supplies for the mill. which l think
speaks we'll for tho energy and Judgment
with which our development work has been
prosecuted. At the same time, Capt. Plum
mer, who ID eminentlv careful and conser-
vative. is somewhat disappointed that the
total Ia not moro, and gives reasons why he
has had to deduct q considerable ton
nnas from his figures, with the de-
tails Of which, however. need no,
trouble you One cause was the discovery
that q section of a block OF ore on the sew
AAtv-aavan font VEIN. InGkOned lA9t wear ri
all hrst-class ote. proved, when stopped
upop, to be onlv second-clasS ore, not gooc
enough to be aiken into the frst-class re
serves. As il turned out. however. the pow.
. ~ Of the milling ore hAdlsd to the lorna.
ton or enrichment of a very nice seam Of
shipping tale previously undiscovered, &C
that the change was not all loss. l men-
ton this partly az an illustration of the
many interesting, and, perhaps, perplexins
POINTS frequently occurring III the course
Of the development of the mine. As to the
underground " o kings. l refer you for full
details to Capt. Plummer's retort.
"Perhsps the main feature OF tho year,
shaft to the No. 8 level. seventy-eight fee
vertical below the eighth level, with tbs
view of outing the vein system at that
depth. The indications, 80 far, are shat
the veins will be found as productive al
this point as above; so fnr three veins have
been cut. and more or less driven upon at
this ninth level. The extension of the
Wahl tunnel has been continuously PROSE
cused towards tho Iron Dyke, and a point
of exit on the south side Of the hill. The
number Of veins proved on this level re-
mains the same. viz. ten. The mill has
worked most satisfactorily. II will be
observed that on the average only twenty
five out of thirty stamps have
heen kept going, II having been found that
xhot pmh eP VAC EnfHci,nt Tn kan~ .~ia${n,
rams and settlers ,rohtsbly employed.
When further pans and ~settle.s have boon
added Capt. Plummer hopes to reach a
ca acity of ITO tons wet. or 100 tons per
day. This will mean considerably more
than double tha capacity of the mill, as
originally taken over by us, With the ad-
dition OF only a third more stamps. while
At the same time the percentage saved has
been much increased"
Captain J. W.. Plunms., the man
aQer, Received a graceful tribute
from the chai man of the meeting
and which WAS greeted with cheers. He
said: with your PERMISSION, gentlemen.
l should like. upon this occasion, to pass q
vote Of thanks to our Rtaff. 1t has not been
done before, but since We last met | have
had the pleasure of seeing q great deal Of
Capt. Plunmer at the mines, end knowing
now admirably We are represented there
and also knowing the diff | NAV SAY
the unfair difficulties, that were placed II
h!s way in the early history of the mine.
feel sure that a vote OF thanks on this oc.
easion would be very highly sp; rsciated b,
him and his men, and il certainly has beai
tho. oughly we'll deserved. know that b.
thoroughly appreciated our visit. be
cause it was the means of renov
Ing certain NEUTRALITY-SUSPICIOUS. whiod
had grown up through no fault Of she boar
or OF himself. The visit in that aspect wa
a most satisfactory one. and in Capt. Plum
mer ] am sure you have Il mine manage
who can certainly not be beaten in America
Il doubt very much IL he can be equallsd
now have much pleasure in prorosin,
that & cordial vote Of thanks be aceorde,
by this meeting to Capt. j. w. P.umne
and his staff at the mine for the very abb
and successful manner in which the com
pany's affairs in Idaho have been admins
tered during the aGt year, and also to MIR
Pakeman and his staff in London for thei
services during the came period. l shout
like to add that Capt. P.unmor possasss
what Ia Il great gift on the iSlt of r mum
nger-ths pow-r OF attaching good men t
himself. He has the best set of men 20
could find anywhere in America-men VIII
are thoroughly loyal and capable"
Eh,pIHr nnsNsyUNr