New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-06-07
NOTES OF THE MINES.

The latest advfces received at the Offices OF tbs
Tri-BuIlion Smelling and development Company m
this city from its Kelly mines TO the effect
that It's reduction plants will certainly be put
commission about the 18th Of this nInoth.
and Samuel ". TrayIor the general manager
of the company, will leave for the mines on Mon
day to personally superintend the starting OF the
plants The officers Of the company state that
the starting of the plants and the resumption ot
shipments will be begun a large scale during
the prestn month The management also
states that the net earnings OF the company
will be all that has been claimed and prom
ised and that the beginning OF operations
will present a different phase from that which ts
beginning of operations on newly developed mines.
because all the engineering work and me process
for the treatment OF the ores or the Kelly mines
have been fully and conservatively demonstrated
The rich strike made by the Nfpissing Company
in the week IN the lower levels OF its property Iy
ing between the Kendall and Bonanza 49, veins.
has attracted fresh interest in the Cobalt secur-
ties. These new discoveries al depth. constantly
reported, Justify. mining engineers say. sAe larss
expenditures which the principal Cobalt properties
are making in underground development work
This system OF mining. which was not resorted to
until within the last year disclosed the
ence of rich bodies which were not indicated
by any surface manifestations Indeed. mining
engineers believe that the whole camp is y
perfect network Of blind veins For instance.
IN the Cobalt CentraTs Big Pete mine several
veins have been encountered recently at depths
exceeding zoo feet. which did not show on tins
surface at all In the diabase formation in the
Big Pete La Rose Silver Leaf and other proper
ties in that particular uineralized values
constantly increase as greater depth Is attained
This is also of the mines working in the
Keewatin and Huronian formations In the Big
Pete mine the values are higher IN the hrst level
the average grade of the ore exceeds BY several
hundred ounces TO the ton that taken from the
upper workings
Recent investigations have disclosed the fact
that the gross values OF the properties ana ore
reserves OF the Douglas Copper Company ara
placed by disinteresred engineers at over fvs
times the capital stock Of the company With
the reduction Of the from the gross values
the net asset to the stockholders should be in the
neighborhood Of sI0.0O0000. three times
the par value OF the compauy's stock According
TO the reports OF Engineers Gustave NJ Gouyard
and c. ". Pritchett. the Anita Mine has gross
value of s5S17.Ss1 90; and estimating the cost OF
reduction at A per cent leaves net value OF
SsIS9.7s5 O5. The value OF undeveIoped de-
posfts in the Anita Mine. estimated according to
standard. is s2.90Ss40 o. placing the cost OF re-
duction at 45 per cent. leaves a net value OF
Sf599.S62 So The reserves OF the Sonora
S,CDSoiidated Gold Nine another Douglas nror-
erty. have gross value OF s.. 55O. 0g0 The prop
critics of the Pacific Smelling and Refining Com
pany-a subsidiary OF the Douglas Copper Com
Notwithstanding its concessions. estimated az
100000
T r Chapman & Co. Of No. SO Broadway. New
York. have been authorized by the Orphan Copper
Company. of Globe. Ariz. TO receive subscriptions
to 100000 shares Of that conpany's capital stock
at So 50 n share (par value So. The property OF
this company Is situated IN the same district
the Miami Copper Company. and is believed TO
carry the same veins as the Miami