The Idaho Springs siftings-news., 1905-08-05
AT The ROCKFORD
AN IMPORTANT CONSULTATIONS or
CLAIMS coNsUMATEp
MACHINERY IS TO Sc INSTALLED
GROUP or ~ CLAIMS WILL Be OPEN
Ed ~ TUNNEL.

The most important mining conso,ida-
ton in recent years was that perfected
this week, when the holdings of the
International Gold Mining company, the
Banner development company and the
Colorado Development and Investment
M1psuy, were taken over by the Banner
Consolidated Mines company. The prop
critics Of all three companies covering the
ridge between Ciear creek and Trail creek.
conprisins 40 mining claims. mostly pat
ented, viii be reached through the Rock
ford tunnel. The portal of the tunnel is
most advsutsgeously located, being with
iu . stones throw of the Colorado g.
Southern main line above Fall river. A
plant Of n,achipery, boilers, air compress
sor and drills will be installed at the
mouth Of the tunnel within the next few
weeks, and when completed will have
cost f7.ooo. The tunnel has already
been driven little over 1000 feet, and
it will be continued to the Donaldson
and other veins attaining depth of 600
feet. In addition to the properties above
the company has lease on the Phoenix
Coyote snd the Kelley groups These
two properties have production record
in excess of Ssoo,ooo from their surface
workings. and upon the showing made
when the veins are reached at depth viii
largely depend whether the bonds viii h<
taken up.
The new company already has con.
tract with the Centurion tunnel owners,
for the extension Of the Rock fc~d tunnel
into their territory. The Rockford tun.
mel when extended will cut under the
Centurion tunnel level AIS feet. and in
addition to the added deF.h gives the
centzrion people . cheaper outlet for
their product through the Rockford tun-
mel. with direct railway Skipping facilihes
AThe capitalization Of the Banner Con-
Validated Mines company Is r.sco .oco
shares Of the Par value Of 81 each. nearly
half Of which Il In tbc tre.sury, ead with
. clear cnsh balance in excess Il -, 900.
the fnssciai condision OF the company
could not be better, and il assures the
successful complesisn Of the tunael. The
consolidation ofthe properties ssd owner
ship 10 due to the 'iudefatigabse efforts Of
II. A. Reidei. the veil kuewu Denver
mining man. whe had bees conducting
the negotiatiors far some months. II is
particularly desirable arrsngem- Mt fos
the operation cirsae properties. and is ia
line with twentieth century uiuing meth.
ods. as the trunel will furussh drainage,
transportation and ventilation, At pract-
icaily no expense when couusctious ar<
completed The group Of ei<i.1s covers
four-6fths of milk of the gssse Ffeeland
vein system. and by mesnssf the tus-
mel Il will be possible to hasdie the very
lowest grades Of ose at pro6t by meanz
Of reducfien mill 1t the tan1el mouth.
When the plant Of mschisesy l. ready
for operation the trnnei wiilsle drives
ahead by contract, the compasy devotine
. its executive ability TO the Development
of the veins aiseady cm and othesx as they
sre reached, which arrasgrmeat could
not be improved upon. With the direc-
tion Of the Affairs Of the company upder
the persoual Supervision of Mr.. hcidei
end no better selection could have been
Stnsde, 10 an assurance that the business
Il the company vii be conducted con-
sesvatively snd vith ecoeomy and per-
sistency. Several ofthe mines in the Rroup
are being worked st The present fime ky
ieasers under the trihsxe systen. and II =
believed that il will be but uaattef Of .
few months VIXEN the tunnel ~ be out
putting large tonnage of ore.