The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1908-12-17
REPORT BY. COPPER KING
Exhaustive Statement Of Physical and
Financial Condition is Made

The Copper King Mining and Smelling has issued state
mcnt its affairs to the stockholders covering fully the progress at the
mne the equipment and detailed financial statement under date OF
December Is substantially as follows:
Mo the stockholders Of the above named corporation
aware the company segagdn piece work of magnitude
namely the driving of deep tunnel which, when completed
will be $500 length according surveyors figures allowing for
the dip ven and which will open the Copper King vein at
additional depth below the old workings Of 92 feet 1877 feet below
the surface outcrop.
THE money this work be raised by series Of
ments three number Of these assessments
to be June 5 9OS December 5 1905 and and June 5 1909 As
snt has been levied and collected and assessment No. has
been declared The construction Of the long tunnel we'll under
preliminary work the tunnel project started June
1905 The work she building Of road about 1000
feet connecting with the county road Daman guc Next barn
12x34 feet loft constructed Grading then started for the
mine buildings These boarding and bunk house. 2x42
feet two oes woodsled 20x25 feet sore electric light build
ing e compressor building and blacksmith shop 2OxGO feet
nshcd from blacksmith shop mouth of tunnel 6x75 feet with
side walls There several small buildings in addition to these
including powder magazine powder tawe fire hose house and cellar
Other for which lumber used two Aumc lines
being box 1896 feet long and the other 12x24 inches 294 feet
long tank OxOx2O feet All lumber delivered the mine
for $40 per thousand feet
The mining equipment consists Of Franklin air
rated capacity cubic feet Of free minute at 100 pounds
sure and two Anch Chicago Giant air drills etc., S6-nc Exeter
suction and IA horse electric motor for driving fan
The electric light plant of one 4kiowa direct current 11Ovo
generator reoa and volt meter The for the compress
sor and lights obtained the three rights owned by the
pany the above mentioned um lines The water
inch For compressor the operates through inch nozzle
on 2inch type C on motor and for the light plant through
quartcrnch nozzle 12-inch type 'C peton motor
e Copper King company spendd equipped for rapid and
economical mining push the work with all
possible speed The tunnel about 2O feet and advancing
at the rate of feet per day. with underground Up the
time has been to timber which has made the work
SLOW AS soon we ground that will stand without mbes the
crew will enlarged and force the work ahead the rate
Of at least eight possibly per day The work is divided in
to three 8hour shifts time lost and will DC
poyed can be worked to advantage
TN conclusion your directors extend invitation to each and
stockholder to visit the property at any time"
FINANCIAL STATEMENT
Financial trial June 19CS to and including Dec 19OS
Balance on hand Old National Bank June l. 1908, 2,565O
Deposited with Knoxville National Bank, 1O,S7Sl2
DISBURSEMENTS
Paw roll s 3,76s.25
Legal and miscellaneous expenses, 1925
Boarding house supplies, 65Ool
Machinery electrical supplies, Pipe, etc., 3,3s7s5
Lumber and building material, 2l2o.So
Tools hardware ETC. ,03O40
cnetr,o;or ~ m;ld;nrs and Aume lines 1880
IIan,nu oxnrcss feed backsmithing ETC., 65422
Printing stationery and office supplies, 2il.4o
Oyclrf at Old National Bank oof
Balance on hand with Knoxville National
Bank on December 15, 1908, 6GO51
s13.454e2 !;62
Below submitted inventory and apprament OF the tangible
Of the corporation all Of which are free from Indebtedness OF any
ont IaMS