New-York tribune., 1907-06-17
NOTES FROM THE MINES.

In regard TO reports that have been circulated to
tho effect that the litigation brought against the
Cobalt Central Mines Company by the Bailey mines
involved the Big Peter vein officials of the Cobalt
Central said that the plaintiffs claim embraces
only one corner of the Big Pete vein, at the
extreme southeastern line Of the property. The
title TO the property IS by Crown grant from
the Canadian government and surveyed by
government engineers and the patents issued ac-
cordinS to every legal requirement. The company
is advised by the best lawyers in the Dominion
that the title to the entire Big Pete mine is abso
lutely perfect.
Thomas S. Robinson, a member OF the Goldfeld
Mining stock Exchange, states in letter just re-
ceived that most of the GoldheId stocks being sold
now are absorbed by New York buyers. He says
the production of the Consolidated mines. including
shipments Of bullion from the Combination mill
and American mill. which is running Red Top ore,
ought to approximate $4,000 for the month OF
June, and within two months production should
reach about 100000 month. This. says he. Is
bound to cause renewed buying in Goldfeld and
the outside world viii undoubtedly follow. On the
Macmillan lease on the Jumbo Extension. twenty
feet below the point where they first encountered
rich ore very rich shute has been struck.
The Sheets-Ish lease which is very rich and which
has been tied through litigation for the last six
months has resumed operations and will be ship
ping within two weeks. The Mohawk-Florence
lease has made one shipment, amounting to 0000,
IN June.
The quarterly report of the GoIdheld Consolidated
Mines Company shows cash surplus in the treas
uries OF the constituent companies of $5l9339, of
which Sl90Co is in the shape of bullion yet
delivered TO the mill. The board of directors
states: 1T is policy begin the payment of
dividends just the same can be done
consistently after good mining and the ultimate
best interests of the shareholders The latter are
entitled TO the best possible return upon the ores
in their mlnes and TO regular dividends after their
payment begins. The first object is being effected
as rapidly as possible through systematic develop
ment and sales of such cannot be handled
TO advantage, and the last will be attained as soon
as development. milling facilities and the adjust
ment of freight and smelter charges and
other elements affecting Of production will
permit 1t IS expected that contracts for the
structon of the mill he let early enough
to let the foundations begin before frost.
The Corbn district, in Montana east of Butte
Is looming large on the horizon Of the copper min
ing world just now. and renewed activity is being
shown by all the mines OF this old camp After q
thorough investigation of the district Marcus l..
Hewett and four associates, of this city. mining
men OF experience and financial ability have pur-
chased the Alta group OF mines. They have organ
lied the Alta Copper Company under the laws of
Montana, the capitalization Of which SO 900 600
divided into 100000 shares of SO each The Alta
mines have been worked internationally since 1867
and have produced about $30,O0oCO0.