The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-25

with hi shaft No. 3. and in the de-
velopment OF this south end OF the mine
a strong vein about 40 feet in width
mao been opened. the assays varying
from S3.12 to s16.e5 In gold. In SUISSE
quent letters Mr.. Burrell informs Us
that this drift has undercut an ore
body for a distance of 20 feet, and
that he was preparing the space OPEN
ed up. 20 feet by 30 feet. for stoping
and that he intended 20 continue div
Ing to the south: the No. 3 shaft had
reached the S00-foot level. from which
he intended to drive in search of the
ore body recently discovered on the
1oO-foot level: in the 700-foot level there
was a fine body of ore for a length of
100 feet and a width of 30 feet; but
that. so far, he has not yet met with
the foot wall. The south drift will be
continued south along the vein. The
cross-cut In the S00-foot level is in
20 feet, and we may shortly expect 10
cut the vein. We cannot. OF course.
yet estimate the value OF the ore body,
put we have every reason to hope ms
IL VIII prove to be OF a remunerative
character, and should II be found in
the sOO-foot level and continue to the
deep. as may be reasonably expected.
our prospects will certainly be bright
err thar they have been for some time
HoeN- "a llltIItldllOn we cannot Du1
think viii be as satisfactory to the
shareholders as IL Is encouraging TO
the directors. / now beg to move:
"That the report OF the directors and
the accounts Of June 30, as presented,
be now received n adopted"
II. T. Bayliss, in seconding the mo-
ton. said from July l to the end Of
October the eturns obtained during
the preceding half year had been
greatly improved upon. and, taking
the result OF the milling operations ard
the result from the cyanide plant to-
gether. they had earned up TO the end
or October. n profit Of f13.637. Max
ing u allowances. they could consid-
er that they were e9.142 ahead on this
halt year, and he hoped that by the
end or the half year they woul SHOW
a result which would enable them to
consider the question of dividend. He
had seen several letters on the sub
ject Of dividends, and had had some
conversation with certain sharehold-
ers. Some considered that the compa-
NY should have declared a dividend.
while others were of the contrary )pin-
ion. The latter. however. he thought.
were in the majority. and he believed
the meeting would AFRO support the
in the course which they pur-
sued. Clear. hear.) With reference
to the mine, the general development
OF the Drum Lummon and the North
Star veins had not resulted In the dis
covery OF a large amount of ore. New
ertheless, Mr.. Burrell had attacked IL
at many places. and succeeded in ex-
posing a sufficient amount Of ore II
keep the mills in operation far beyond
The period when he thought he could
keep them probably employed. As
10 the 1,600-foot level. he had no in
formation to Civ as to any discovery.
On past occasions the question Of sink
.ng below that level had formed the
subject of considerable discussion. and
some time ago he informed the share
that II was his policy. subject
10 their approval, TO do so large an
AMOUNT Of work on that level as TO
dismiss the possibility of their nav
ng overlooked anything either in a
ateral or horizontal direction. Alto
to this date they had done be-
tween 5000 feet and 1000 feet of de-
1elopment work on the 1.600-foOt level.
the past half year the south
md of this level had been advanced
between 300 feet and 400 feet; but 80
arge n flow Of water was
hat IL was determined to cease oper-
ltions pending the results Of further
development in the south end of the
nine and below the nine-hour ore body.
had recently formed the subject
" a circular to the shareholders and
II several letters from Mr.. Burrell. He
the speaker) thought that the policy
n stopping work in the 1.600-foot level
vas very well considered. CHear,
lear.) h most interesting feature
II the development which was not re-.
lily included i'm their last half years
work. was the discovery of a new ore
'ody on the 700-foot level of the Drum