The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1907-05-17
MINES AND MINING

The Golden Sunbeam company, op
Grating in the Custer, Idaho, section
has purchased a compressor, which
will be installed at once.
Three of Tintic's big mines posted
dividends last week, the Colorado and
the Beck tunnel paying to the stock.
holders $4,000 each, while the Grand
Central distributed $4,000.
George Wingfield, of Goldfield, has
received a telegram from his fore
man at the Three-Queens mine, Cali.
fornia, saying that single shot had
broken down 100000 worth of ore.
A statement of the profits of the
Hercules mine for 1906 has been filed
with the county assessor, showing
the profits to have been $787,534.19 as
compared with $375,3489O for 1905.
The discovery of important phos-
plate deposits over considerable
area in southeastern Idaho, south
western Wyoming, and northeastern
Utah has opened up new industry
in the west.
A canvass of the leading copper pro.
ducers reveals the fact that the de-
mand is running ahead of the visible
supply and that they are stronger in
their belief that there will be no
price concessions.
In the French Gulch section OF
Montana, where the gold was first
discovered and washed out in that
state, extensive placer operations are
still in progress, and is paying big
money to the operators.
A prominent Californian, who has
drilled oil wells in five states, de.
clares the Virgin River oil region to
possess the greatest oil indications he
ever witnessed in any field from Cali.
fornia to West Virginia.
Good reports are still coming in
from the Swan Hilda Extension mine
in the Lee district, Nevada. The di.
rectors of the company met here
day or so ago and raised the price of
treasury stock to 10 cents.
A good copper mine in the Lisbon
valley, San Juan county, Utah, is to
begin shipping at once. Up to the
present time not pound of ore has
been shipped, the amount extracted
(about 1000 tons) being piled on the
dump. ~
In well-informed copper circles It
is generally conceded that Amalgamat
ed copper will earn $2S,OOO,O0O this
year on its product of 100000 pounds
of copper on the basis of "a cents
metal, which would be trifle over Is
per cent on the stock.
The California correspondent Of
Boston financial agency wires that the
Balakala company now has $50 men at
work there, It's on smelter construc-
ton and $50 at the mine. Work at
both places has been retarded owing
to weather conditions.
Owing to inability to arrive at sat
isfactory and an amicable settlement
Of the wage controversy between the
strikers and the company, the Ameri-
can Smelling and Refining company
has announced that the plant at Muir.
ray will be closed down Indefinitely.
The Bunker Hill & Sullivan Mining
& Concentrating company, operating
a silver-lead mine at Wardner, Idaho,
has declared dividend, No. 116,
amounting to $1SO,OOO. This is the com.
panys regular monthly dividend and
brings the total amount of dividends |
paid since January to 100000, and
the total to date, $8,766,O00.
A wonderful strike has been made in
Willow Creek mines about five miles
southwest of Greenwater. The first |
discovery of Importance was in the
Baltic. The shaft had been sunk but |
eighteen feet when the miners pene.
trated the iron Gaping and encoun-
tered rich copper sulphide running
high in both gold and silver.
Half a dozen veins of copper ore,
running from three feet in width to
nine feet wide, have been uncovered
On a copper proposition in Mexico re-
Gently acquired by Nevada capitalists
Average samples from these veins run
31.62 per cent copper, while picked
run from 70 to 81 per cent
copper, with good values in gold.
The Tonopah Mining company of
Nevada reports operations for the year
ended February rs, as follows: Total
$1,649,S92. Net earnings,
b1,1O7,719. Total net, s1,4S5,520. De.
1uct for exploration, ETC., 81, 1923. Net
income, $1,473,596. Add profits, sale
Tonopah & Goldfeld railroad bonds,
s33,850. Surplus for year, $1,507,446.
A thousand feet beneath the surface
If the ground at Detroit, Mich, is
solid bed of salt four hundred feet