The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1910-03-31

Federal Makes Reservations
The gigantic suits brought by the Federal Mining and Smelling
company against the Bunker Hill Sullivan Mining and Concen
ang have been practically all settled and the experts
employed by both companies preparing for the trial OF the suits
about to leave the district The Warner News which is in
publishes the following:
For consideration 900 shares of Bunker Hill and Sullivan
stock quoted the market S55 SHARE deal Is pending
whereby the Federal Mining and Smelling company dpo to
the Bunker Hill of its holdings the Last Chance mine together
with the Sierra Nevada and few other outlying properties Not
included in the DEAL however the Federal holdings in the
Page Mining company the Wyoming Black Hawk and other
properties in the Silver creek district
After consummaion of negotiations the actual REIMBURSEMENT
of the Federal holdings in these properties will be made the COM
pany resevng the right extract certain stopped in the
Last Chance This the News is in position to state in
formation received through reliable sources
long rumored that have been made be-
the companies the Inauguration of the ST. 600
suit by the Federal against the Bunker Hill The cost of
ing for this legal battle has been Scores of
gnee have been engaged in the work OF
accumulang data for and hundreds Of thousands of
dollars been spent with the suit barely started and not yet
This together with other made compro-
mise of Importance. 1t stated that the Federal
made proposition the Bunker Hill some time ago to sell out
their holdings for Bunker Hill stock but the price asked was too
high Negotiations opened led agreement being
reached.
Reckoning Bunker Hill stock per share the purchase price
from Is to SO per share per month in dividends
With termination of the suit and the exclusion of pos
bit further litigation the dividends from the Bunker Hill
will probably be increased the largest amounts paid by the
company With the completion of the repairs the old mill and
with the addition Of the second unit in the mill the Bunker
Hill will amng capacity of 1000 tons day which with
Federal 500 tons added will mean the enormous
output of $500 per day. calling for miners to do the
work we'll adding to the dividends paid each month";
Mining assert that the deal for Wardner and
Kellogg than could other possible move No change in the
danger removed exploitation of workings OF the two
mines will be carried in commensurate with the ore
bodies that known exist we'll those close proximity
the lines of the two companies More men Will be required to
keep the mills running their capacity and the work also
calls augmented number of miners The Chance will be
worked usual with the force of while its territory
will be extended all directions the great saving being
the opportunity haul the extracted through the main
Kellogg tunnel the Bunker H thereby doing with the
handling of the four or five times at present
Recent explorations the upper workings of both mines have
disclosed large bodies hitherto unknown and these will
be opened under the All fears of busi
and property be aayed by the announce
en changes contemplated but those which will make
Wardner and Kellogg better than ever before.
While the of the past in preparing for the law suit
been large stated the knowledge gained of edges
bodies and possible future developments of the mines of far
greater value than the expended and will be the
enabling extension OF the work to even greater limits than
thought possible.
The Chance mine located in 1885, In 1889 the long
struck and since that time the mine has been
steady producer has been reckoned as one of the
agenerous lead mines the world For produced the
highest grade found the district the being found
in shoots of native silver crysazd lead and carbonates In
1903 tn taken by the Federal Mining Smelling
company ha since been operated by that in conunc
with The other holdings Of the the Occur Aenes
The Chance has paid about 100000 in dividends and
nroduc $40 tons day using 300 miners for the work.
The Bunker Hill Sullivan located six months previous to
the Last Chance Sept 1885, To date has produced $780,
OO 600 worth and silver and has paid S 900 in
dividends Its holdings consist Of nearly 5000 which,
present plans mateaz will b. considerably augmented by the
transfer of the Chance claims Some 500 miners
ployed by the company at the present time.