The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1901-06-06
90, 100000 Is Offered for "a Ten
Year Lease of the Chain
man Mine.
BUT 1t Is Promptly Refused by a
Unanimous Vote of the
Direc tors.
r. j. Dawson Has Been Appoint
ed General MANAGER OF the
Company.

The announcement Is made that r.
]. Dawson OF Bath, N. Y, who was
here few days during the time when
the contracts for the new Chairman
mill were being let will return to Ely
shortly and have charge of the con-
struction work until the building is
completed. 1t is learned that Mr..
Davidson has decided TO take up bis
permanent residence in the west, and
will probably serve as the general man.
ager OF the Chairman company's in
terests with headquarters at Salt Lake
City.
This arrangement will in no way af-
feet the local management, but as the
company's general manager Mr.. David
son will represent the Board of Direct
ors and will be in position TO take up
and dispose of many matters which
must now be submitted to that body,
thus effecting great saving of time.
In view OF the magnitude of the Chain
man company's mining interests here
the creation OF the Office of general
manager is deemed absolutely necessary
and with his practical business train
ing, to which will be added a perfect
knowledge OF the mine and mill gained
during his soujourn here, Mr.. Dawson
will be able to render the company
valuable service.
Under date of May %, the Directors
of the Chairman Mining & Electric
Company addressed circular to the
stockholders in which the import ance
of the recent copper strike in that
property is dwelt upon at some length,
and in addition, the information is
given out that a copper syndicate is
sufficiently interested in the discovery
to make an offer OF 500 600 a month for
a teu-year lease OF the mine, provided
the copper vein is encountered on the
300-foot level. 1t says:
'Tt might be wsll to say that the ay-
erage OF this copper deposit is III per
cent. copper, 81. 80 in gold, and or. in
sill YER.
"This average is much better than
the Calumet and the Heela, whose
stock is now quoted at 1895 per share
and the average is better than the
Butte & Boston, the Boston & Montana.
the Parrot, the Anaconda, or any of
the other large copper companies, ex-
cept the United Verde in Arizona.
IA proposition was submitted To the
Directors at the last meeting by syn
dictate OF copper men for the lease of
the properties of the Chairman Com
pany at a monthly rental of Twenty
Thousand Dollars per month for per-
iod OF ten years. Said rental to be paid
monthly. This lease to be conditioned
upon the ore bodies being encountered
on the 300 foot level. This proposition
was rejected by the unanimous vote of
the directors, as it was our belief that
the mine Is worth more than the
amount offered by the said syndicate.
With regard to the deposit of copper
sulphides recently encountered on the
200-foot level, Prof. F. d. Smith, the
Mill Superintendent, in report to r.
j. Dawson, shows the result of five
assays on this ore as averaging over
per cent copper and S4.2l gold, while
one Of these shows silver to the amount
Of 10 ounces. Continuing the report
says:
with the evidence of this vein before
us, together with the many other in
dications OF copper veins with depth
in other parts of the district, | am led
to think that it is probable that ulti- /
mately the whole ore bodies will turn
into more solid quartz ore carrying
copper and gold values in form OF sui
phides OF copper and iron, etc. /. e. a
smelling ore, but this change will not |
occur at the 900 level or perhaps before I
the 500 or 900 foot level.
"On the other hand, | firmly believe /
that the copper vein in question now
opened will become larger In its dimen-
sions and from its mineralogical appear |
ance In the bottom of the drift, IL will I
carry more of the copper bearing min. I
erals. The latter are the Chalcopyrte I
Copper pyrites) a sulphide of copper I
and iron and Coveite, a blue mineral 4
composed of copper and sulphur i. e.
sulphide of copper (maximum content I
OF copper 66.S per cent?. Referring to +
the assays given above, No. is from T
portion of the vein which carries the 1
largest amount of this latter mineral. T
II Is to be noted that with the increased +
values of copper in this part of the vein,
we have higher values in gold, and +
much higher content In silver.
''In width one is hardly justified In |
predicting anything with the evidence I
at hand. The drift cuts the vein as it
dips toward the entrance while at the
termination OF the cut the vein seems
to dip away from the drift thus indi-
eating that 1t is widening on both sides
as depth is attained.