The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1910-02-03
INTEREST IN CALEDONIA MINE IS SOLD FOR S78Q000
Producer Wardner Developed by Charles Knn Passes Into
the Hands of Eastern Capitalists Price Representing 100000
For the Entire Property

controlling the Caledonia mine has been sold the
of $3.50 share necesstang outlay of $780,
syndicate of eastern capitalists The Caledonia is of the
Occur dAenes newest mines having entered the shipping class
in March 1902 Details of the sale given the Spokesman
Review by H. W. c. Jackson former editor of The Miner
follows:
The biggest mining deal affecting property the Inland EN-
pre since the sale four of the Morning mine by Larson
Greenough the Federal Mining Smelling company for
$00O00 closed last Thursday in New York. when synd
of bankers and railroad bought 900 shares of the
Caledonia Mining company 40 its issued capital stock
at 81. so share. $780, 600 in all.
This SALE which places cash value the mine of S. 000 00
negotiated by j. Carter of Helena Mont and his brother
United States Senator Thomas Carter the former having been
elected to the presidency of the Caledonia company Jack
Keang resigned to the eastern interests the board
of directors At the time for the convenience of the east
shareholders and because they made it condition of their in
vesmen have been made with the Carnegie Tu
company act transfer for the copanys shares
with the Empire Trust act registrar AS such
quements imperative in the stock is dealt in on
New York curb probable that the Caledonia will
or later make its appearance in that market.
Ths sale is the elimination of long pending negotiations for
control of the Caledonia mine by the interest represented by
Mr. Carter who longer associated in any with
August Henze The delay concluding the deal being wholly
due the fact that the original owners would not with
majority of the stock.
'For months consequence it looked as if
would be reached but three weeks Mr. Carter rather
Unexpectedly yielded the The NINE its title and
thing connected with having been previously passed by
era well known mining and attorneys from Butte and
effected.
"The Caledonia group consists of six claims adjoining the old
Srra Nevada mine of the bonanza properties of early days
at Wardner It located by Jack Heating and others in 1885,
but had much than the annual work done
it until bought by Krazer McKinnis of Wallace in
july 1907 They organized the Caledonia with capital
of 600 acquire and work it, selling treasury stock to de-
fray expense of its development and equipment.
1.-THE present officers of the company have all been interested
in the enterprise from the start with the exception Of Mr. Carter
who took the place of Jack Heating The officers A. B.
Campbell of Finch Campbell PRESIDENT E. Carter vice pres
den Charles McKnn secretary treasurer and manager Jack
Hayes Wadner and c. Fred Krazer of Spokane directors
1.-THE active development Of the mine begun III March,
m the financial panic of the previous fall having rendered the
task of raising working capital almost impossible Shipments
begun exactly later and date to the net value
been produced from development work alone
Stopping having been DONE This has for the most part
hand sorted grades for shipment the smeter
netting and the other $780, OF the latter class no fewer
than five shipped that ned above $4,000 to the
car and sres of generally have been encoun-
tered the workings that 5000 in silver to the on
Shipments present at the rate Of 20 tons day. but