Elk City mining news. (Elk City, Idaho) 1903-1913, 1907-04-27
MINING NEWS.

! mort enough or an ore leSei'o III sioS
70 nav off all the outstanding bonds,
and still yield the stockholders about
so5O 600 in dividends. according to the
nresent rate of profit and the current
nrices of silver and lead. The smelter
handles about 1000 tons of ore
month.
A tunnel that will be driven from
100 to 1900 feet has been started on
the property of the Plant & Callahan
Mining company, near Ruby, in the
Okanogan. The mountain is very steep
and the tunnel will gain foot for foot
in depth. The portal of the tunnel is
about $50 feet above the bed Of the
creek.
/ A four foot ledge, rich in gold, and
carrying about per cent copper as
well. has been cut at depth OF lou
feet in the Modoc property in British
I Columbia. group of claims about five
miles north of Franklin camp. The
strike was made at the end OF a 375
foot tunnel The Modoc group is the
property of Vancouver people.
/ There is much of the romantic In the
history of Calumet & Hecla, the rich
est mine ever opened on the globe,
mine that up to January l, 1906, had
paid dividends of $92,S50,000 on cap
ital stock of $2,500,0 900. Long before
Columbus came across the sea to dis
cover new continent the Indians
knew of the wonderful deposits OF
copper on the shores of Lake Superior.
George Schultz reports the strike of
( seven foot ledge of rich free mill
ing gold on his property on Ameri-
can ridge, a mountain spur between
Buffalo Hump and Salmon river. No
assays have yet been made, but all of
the ore pans literally in gold. The
ledge was cut at depth approximately
23O feet, Mr. Schultz having himself
driven tunnel more than 400 feet into
the hill.
Another strike is reported from the
Nabob mine on Pine creek, near Ward
ner. The east drift at the 100 foot
level has broken into a solid breast
of galena that assays even higher in
lead and silver than does the ore in
the west drift or in the upraise.
A rich strike has been made near the
Hattie mine in Nespelem camp, on a
property owned by Mr.. White, the
original owner of the Hattie mine,
which has since passed to a New
England syndicate. The ore from the
newly found ore body, the width of
which has not been proven, assays
from 5000 ton to nearly $500. Picked
samples have yielded assays as high
as $72 in gold and nearly 500 ounces
of silver to the ton.
Brussels-The chamber of deputies
has adopted measure fixing the hours
of labor in mines by "a votes to 80,
after which M. De Smet de Mayer, tlte
premier, announced that the cabinet,
being unable to command a majority in
the house, had decided to resign.
Rossland, B. C.-The usual quarterly
dividend of 21a per cent on the capital
stock of the Consolidated Mining &
Smelling company of Canada was de-
clared recently, which is payable May
l. The dividend amounts to about
100000. This is the sixth dividend
declared by the company and up to
date it has disbursed dividends aggre-
eating little over 100000.
Phoenix, B. C.-Beginning April 1
the Dominion Copper company raised
the wages of the employees at the
smelling works at Boundary Falls. B.
C., to the level of that agreed upon
last December between the British Co
lumbia Copper company and it's en-
ployes at the time of the difference
that occurred at those works.
SO satisfied are the Seattle capital
lists who have an option on the control
OF the stock of the Evolution mine,
near Osburn in the Occur d'Alenes.
after inspecting the property last
week, that they have decided to install
compressor Immediately, erect a
clubhouse and resume sinking in the
old shaft. The syndicate has an option
on 100000 shares of the capital stock
OF the company. 1t is Incorporated for
2,OO0,OO0 shares, but 100000 of treasury
STOCK are not outstanding. An option
was taken on the control the first of
the year at sc and 10c a share. One
payment has been made and another
is due in July, the third coming at a
later period.
wallace, Idaho-A deal is pending
1or the sale of the control of the Idora
mine, the consideration being over
100000
1t is estimated that over 5000 OOo
was paid in the Phoenix section in
ene months wages to approximately
zooo men employed in Boundary mines
and smelters.
Monthly wages, as a rule, will aver.
age up about 800 a month a man IN