The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-04-27

".IN
went beyond the earning capacity oil the
minc; that is. he could not realize mon
ey quick enough to pay on the large
newly-incurred debts He increased the
capacity Of the mill to thirty stamps.
which term will be familiar TO men inter
ested in mining enterprises. The con-
struction amount OF these additions and
improvements ran mp TO $4,000. lie
bought besides some 100000 worth
of storc goods, on time, paying
heavy interest, Mr.. Schlesinger supply
inc the goods To the miners in his camp.
lie also bought on time some S35,O 900
worth oi iron. steel and various MN
supplies, and built sOmo four miles ol q
narrow-ga gauge road leading from the
mine TO the mill. In short, he proceeded
To operate on a grand scale, borrowing
his money quite readily at the banks uf
Chihuahua and Minero at good interest.
The mine put out in one year S42O,
600 OF gold bullion, at nm expense OF
about $1S7 900, which included part OF
the development work. Ii WAS Mr..
Schesinger'S apparent aim TO get
through with the mine ns soon as possi-
blc, and to return with the money To
Milwaukee. but he was in too great
hurry, and outdid himself Things went
along until the beginning OF this year,
but then Mr.. Schlesinger's resources gave
out. He was unable to pay the interest
to the banks mentioned, and about
Feb. OF this year the bank took pos
session OF the property, through it's
agent located at III Cochenn. This agent
said at the time that Schlcsinger owed
hls bank $iS5, 900. Several weeks later
the news came to the mining town OF III
Cocheno that Stevenson Burke and
Price Mckinney of Cleveland, o., the old
Corrigan-Ivcs concern, had paid the
hank the amount that Sehlesinser owed
it and all other outstanding debts OF
Mr.. Schlesinger, which amounted To an
additional 100000, and had taken
| possession al the mine. MIR. Harris,
who was the agent Of the Standard Oil
company at III Cocheno, was put IN ms
manager of the mine and Mr. Schlesinger
was out.
IL IL not known whether Mr.. Schlesing-
er still retains IN interest in the mine, or
| II so, how much OF an interest. II he has
such an interest il is believed to be very
small. The property is said TO be a very
good one. Schlesineer has taken out al
| il most OF what mining men call free
milling ore" and in the present shape
the mine is what mining people call
''slilphuret roasting proposition; that
is, the gold ore is largely inier1ningled
with silver and sulphur. The vein Of the
ore Is six feet wide, and will 60 in Ameri.
can money at about $23 per ton. Of
which SIP would be gold, and the re-
mainder silver Mt gold value. BY sort
| ing the ore and working the mines care
fully, the present owners, IL is said. will
| probably treat twenty tons of orca day
at net profit OF over $50 ton, max.
ing their daily profit about $400. Don
Carlos Perez, the manager Of the bank
claimed in taking possession OF the mine
that he could clear from IL $4,000 a
month in American money, which h
equal TO about $4,000 in Mexican
money.
Mr.. Schlesinger in reply to n question
regarding the above by representative,
OF the Evening Wisconsin, denies tn,
whole statement though he did not 80,
fit TO make any explanation regarding
it and referred all inquiries to the sourc,
from which il emanated, OF which h,
proiessed to be ignorant. IL is evident
from Mr., Schlesinger's recent operation
ia the iron field that he Is chiefly con
cerned in re-acquring interests there, an.
from his manner il could readily be in
ierred that his actions in the Dunn pur
chase were eminently satisfactory Il
him. The interest exhibited when qucs
toned regarding his Mexican possession
also showed that whatever their exac
} status might be nt present they CAV
him but little concern.
The fact that Corrigan, Mckinney 4
company had control oi the Dunn unit
Mr.. Schesinger's advent To Cryntal Fall
Wednesday, might add color to th
story oi their connection with the Mex
can gold mine, but would also give colo
, To the opinion that the same compan.
that controls the Dunn mine, wit
! Schlesingcr as their acknowledged pres
dent, might also control the Mexica
: property, and Schlesinger still manipu
: late the rndder.
- . -