The Owyhee nugget. ([Silver City], Idaho) 1905-1984, 1905-07-28

gG k@NAkA 0~a AFEfAh@~
1t is just four years since the capi-
talization of the DeLamar company, |
operating mines and mills at DeLamar,
Idaho, was reduced from s2,0o0,000 to
100000. says the London cores
pondent of the Engineering and Min
ing journal, the idea being to bring
down the nominal capital to the actual
value of the assets, SO that, IL another
property was acquired the company
would not be overweighted with CAPT
tai Since then the profits and divi-
dends have been most regular, amount
ing in all to 81. 8 per cent on the S4O0.-
900 capital, performance which is
highly satisfactory to the shareholders.
During the year ended March 81 the
date of dividends was Is per cent.
During the year 81 .40e tons of ore we're
treated, yielding 1861 ounces of gold
and 39,23l ounces of silver, realizing
S366,000 The total costs at the mine
were about S250.0O0, and after deduct
| ing London expenses and taxes, a net
profit remained of approximately
100000 The PERCENTAGE of extraction
is about S5 per cent gold and 40 per
cent silver The way that the mine
has continued to live after the reduc-
tion of capital reflects much credit on
the ability of Mr. Oxford in following
stringers and opening up old filed
Slopes. The company is looking after
new properties, but the only one ac-
quired, the Afterthought, did not turn
out well and the cost has been written
off.
Thilo Nette and J. l.. Inglis, owners
of the Burro mine, have purchased the
Scales interest," in the Scales q Wagner
arrastre and will soon begin working
ore from that property.
~
William Lacharity has just bad fif-
teen tons of ore from bis John Bill and
Plunger claims, run through at the
Addie mill. While no returns have
been had as yet, the owner is confident
he will get good values, although be
does not anticipate that it will go SO
high as predicted by many others who
have seen the rock.
*x*
The outlook at the Banner continues
most favorable as development prog
resses. The vein shows up seven to
eight feet wide with good values, in the
upper tunnel, where the the principal
work has been done. The new COM
pany is receiving most flattering en-
eouragement everywhere the stock has
been offered for sale.
~
J. f. T. Hale was in from Oreana
Tuesday, and says he talked with Mr.
Hodges, few days since, who, with
othea Nampa parties. have made big
discovery near Black Butte, on Castle
creek. They are down 81 feet and have
uncovered 36 feet of the ledge without
finding the walls. Noassays havelbeer
had but Mr. Hodges reports tnat il
looks very rich.
Fred II Davis, of Nampa, was in
r town this week aud reports that him
i self and Messrs. Lamson end Harmon
Of Nampa, have secured fifteeI
q months option on four claims owned
r by the Goodman boys, on Castle creek
i. Very high assays have been secureC
from some of the rock and it is prob
able extensive work will be done OF
h the property in the near future.
~
: Hadsel Dye made what may prove t.
be valuable discovery below Dewey
i this week. The vein is only about th
q width of lead pencil but is exceeding
ly rich. Quite a showing Of gold wa
+ panned from small handful of th
rock. Mr. Dye will do some more worl
: on the claim and if the vein shoul
widen sufficiently to furnish the ore il
any quantity he will have a find wort
n talking about.
Editors Robbed.
- dispatch from Oakland, Cal, Jul