Bisbee daily review., 1908-02-16
COMPANIES IF BUTTE ARE
 IN DIFFICULTY
Small Ones Can Not Sell Their Treasury Stock, and Very Little improvement Is Noted In the General Situation.

BUTTE, Mont, Feb. 15.-There is no improvement in the mining situa- tion in Butte, with the exception of presumption of work by the Davis-Dafy Estates company; but even that is very limited, being for the present confined to the Colorado shaft, whick
 been unwatered preparatory to work being resumed in the crosscut It win be some weeks before the cons pany can get nto the Original cross cut to continue the work there, as the. Original shaft is being retimbered and consequent can not be used by the Davis-Daly people. #
 The Amalgamated production is still confined to the mines of the Bos+ ton & Montana company, and its out put is little more than 100000 pounds of copper per. month The total output of the district last month was only 9,00O,0O0.
 The affairs of the smeIter coTa- panies are not improving, and unless financial conditions become better soon it is likely that several more exploration companies will have ta suspend work. They struggled brave
  worlds financial roubles, but looking backward it is now doubtful if the policy of continuing work and ex- hausting the treasuries was the wiss one to pursue. Several Of tfie best ot these companies have a lot of treas ury stock, but they could not sell il at anything like reasonable p-icet under present conditions
 Butte G Superior.
 The Butte & Superior cop1pant which was believed to have an abund ance of money in it's treasury and if the pockets Of its packers; Sas de sided to issue bonds to the anrouat q s50o,0 900, bearing the high rate of ', per cent. interest. A mortgaSo ha, been placed on the property Of tho company in Butte and the First Ma tional bank of Butte has been named as trustee.
 The company owns the Biac!-roc9 group of silver claims, which it is de veioping in he hopes of opening cop per deposits. It is capitalized fot $6,000, 900 and Is understood to havs paid s2,500. 900 for the property, ant some big commissions have beeI .4raked off' Tn the various deals lead ing to the organization of the Butti & Superior company
 An official of the company sayf some of the new bonds have beer subscribed for in the east, and som of the money derived from their sak win be used in making final payments on the Blackrock group, upon whick- about $200,000 is still due. The Dondi run for five years from January | but are payable in three years.
 Butte & London.
 The Butte & London Copper De. velopment company is stiTT prosecut ing exploration work on the I,100-foO level of it's mine, and is drifting ok two veins, the most promising of seven veins that have been crosseut While some good assays averaging about ounces in silver and 2.5 per cent copper have been taken from the vein. it is becoming evident thai greater depth will be required to get to the commercial ore bodies which unquestionably exist in the Butte 6 London ground.
 A mining engineer of B years ex- perfence, recently made an examina- tion of the Butte & London property. and he says both the veins to the north and south of the shaft seem to be dipping toward the shaft, and in his-opinion they will come together at a further depth of 200 to 800 feet, where some great copper deposits may be expected In all his experience he says, he never saw so good a showing with so little development. It is his opinion that all that is re- quired is more depth.
 H. V Wincheil, chief geologist for the Great Northern Railway and form erly with the Amalgamated Copper company. made a report on the Butte & London in which he said that he knew of four veins that traverse the Butte & London ground. but the com pany has found seven veins within 800 feet of the shalt They are from 6 to 20 feet wide.
 Drifting is being done on the 20 foot vein to the south and also on a 12-foot vein to the north. Both are full of quartz and tale and assay fin places 2.5 per cent. copper and f ounces in silver. The drifts are run hing in the direction of the North Butte property.
 
 ing company of London has sailed for this country to meet the officers of the Butte & London. The Venture people have made several overtures to get control of the Butte & London. and 1t is considered probable that the deal will De consumated at the ap- preaching meeting. It it is. the com pany will receive the very handsome price for the control, which the pres ent condition of the phoperty war | rants.
 Bsrnes-kine.
 A report of the December opera tions on the Barnes-King, made by Supt. McGee, says something less than 1000 tons of ore were mined and milled that month. the gross val ue being below $4 per ton, which did not pay expenses. Mir. McGee is stiIf inclined to be optimistic about the Barnes-King mine and believes some good ore will yet be found. the ore in the faces of the workings looking |