The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-07-28

amounts 70 between two and three
acres, and is much better located with
references to our main workings. and
cost less than one-tnird of the amount
we are to receive for the part of the
Anchor sold TO the Moon-Anchor Mining
company. The total acreage now own
ed by the company is a little over forty
acres. An OF the claims are adjoining
or contiguous TO each other. and within
half mile Of both railways.
POSSIBILITIES OF THE PROPERTY
the possibilities OF this property, with
its great network OF veins and It's IA
vorable location for the handling and
shipment Of ores, are very great OF
course it Is not probable that high grade
ore viii be found IN all OF these veins.
but il is rea sonably certain tina. vast
quantities Of ore having value OF from
s6 to SIS per ton can be mined from
most OF them The great advance mad
IN the methods OF treating the lower
grades OF ore during the past year.
think. warrants me in predicting that
our large bodies of low grade will ulti-
nately be source Of great profit 10 the
company.
From the organization Of the COM
pany TO the present time il has been the
policy Of the management to conduct the
aairs in an economical and business like
way. 1t is proposed that this policy be
adhered to even more vigorously than
heretofore. An plans for the future
made in the past year have had that end
in view. The large shaft. the new ma
chinery, and buildings have all been
planned with view to an economical
working of the property"
Since the above report was made the
main shaft has bene sunk to a depth OF
500 feet, and the fourth level Is being
run from that depth. An entirely new
plant of hoisting machinery, having a
capacity amply sufficient for all uses
until the workings reach depth OF ], 200
feet. has been put in place. The new
ma chinery consists Of a horse power
boiler, double-dr7um holster, compressor,
air drills, etc. A boiler house large
enough TO hold two 1o0-horse power boil
ers and the necessary coal bins has
been elected.
A new complete shaft house has been
put around the new shaft and hosting
machinery, and an orehouse with ample
bin room and floor space on which to
put eampling machinery II, in the fl-
ture. IL IS found desirable to do so. The
plant as It now stands IS a model one.
and viii give every facility for an econ
CYNICAL working OF the property and
handling Of ore. The total cost OF the
buildings. ma chinery, and shaft sunk TO
a depth Of $500 feet, Will be in excess OF
$50. 600.
rs RICH WITH GOLD.
One shipment Of six cars made within
the past two weeks. for which I have
seen the s1relter's returns. melted the
company 81 ,472. This was about seven
~ tons, or an average of 1893 per ton.
Very little stopping has been done. and
still the output at present is about ten
cars per week. seven Of which WIFI run
high grade ore Of value Of SIS per ton
and upward. A very rich pocket Of ore
was struck yesterday from which was
taken $50 pounds that averaged 800
per pound, and $50 pounds that ran at
least $50 per pound. This would be at
the rate OF 5000, 900 and $50 per ton re-
spectvely.
Attention is called to the small capt.
tatization of the company, only $500. 600.
and that net production of 5000 per
month is all that will be required to
pay cent per shade dividend per month |
That the treasury is in a position to |
pay several such dividends at the pres
ent time IS a well known fact. Conser- |
vatfve business an dmining methods |
the management OF the com |
pany. and that while dividends will |
probably not be delayed much longer. a |
sufficiently large cash reserve Will be ac- |
:umulated before any distribution is /
made.
AN UNLISTED STOCK.
This is one of the unlisted stocks in |
he Mining Association board and is
lot actively dealt in. as 1t is closely |
held, and ila drto get at the quoted |
price, which is around s. al the present /
ime
In anuary, 1895, this stock was little
thought of, and was rather slow sale at
cents to cents per share. 1t grad
rally advanced from that figure TO IS
sents May IS, 1895, when II was first CARL
ID among the unlisted stocks on the
,oard. -Four months later, Sept. 16. il |
lad reached Slip, and on Jan. q. 1896,
t made IT'S highest mark, s. per share
n sympathy with the balance of the
list the quotations have gradually de-
lined until today, s1.s7 asked.
a careful perusal of the secretary's
eport made May indicates economical
ma nagenent in the interest OF the share
FOLDERS. Upon a gross production OF
231, 900 for the year, from the proper
les Of the company Cessees IncludedD.
he total expense for administrators its
fairs was ss,913.07. Afl Cripple Greek
mining stocks are not as good as this
ne, but there are many deserving OF
MENTION. Details have been given in
his case, as the dispositio nof the man
cement is 20 furnish all information II
which the public is entitled, a method
.ot much in vogue with the majority Of
aiming companies.