Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1907-04-20
MINING NEWS.

port, enough Of an ore reserve in sight
20 pay off all the outstanding bonds,
ana still yield the stockholders about
SZ5O,O00 in dividends. according to the
present rate of profit and the current
prices of silver and lead. The smelter
handles about 1000 tons of ore
month.
A tunnel that will be driven from
HOO to 1900 feet has been started on
the property of the Plant e. 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.
four foot ledge, rich in gold, and
carrying about per cent copper as
WELL has been cut at a depth of $50
feet In the Modoc property in British
Columbia, group of claims about five
miles north of Franklin camp. The
strike was made at the end Of q 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 1, 1906, had
paid dividends of $92 $50, 900 on a cap
ital stock of $2,500,000 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
a 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
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
which has not been proven, assays
from 5000 a 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 a measure fixing the hours
of labor in mines by "a votes to 80,
after which M. De Smet de Mayer, the
premier announced that the cabinet
being unable to command a majority in
the house, had decided to resign.
Notices for strike of all of the err,
ployes of the colliereis of the Crow
Nest district have been posted at Fer
ME and Michel. 1t is said that owing
to the existing coal shortage, the G. p
K. would be seriously hampered in OPP
Grating before the week s end. TIL
business situation is serious all around
Every industry will feel the effects ant
already there is talk of agitating com
pulsory arbitration of strikes along tn
New Zealand plan.
! Rossland, B. C.-The usual quarterly
dividend of 21a per cent on the capita
| stock of the Consolidated Mining
| Of q
clared recently, which is payable May
l. The dividend amounts to about
| $4,000. 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
the Dominion Copper company raised
the wages of the employees at the
smelling works at Boundary Falls, Is.
C., to the level of that agreed upon
last December between the British Co
lumbia Copper company and its 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
a 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
100000 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
later period.
Wallace, Idaho-A deal is pending
for the sale Of the control of the Idora
mine, the consideration being over
100000.
1t is estimated that over 100000
was paid in the Phoenix section in