The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-12-14
SANTA ROSALIA
STATEMENT
DIRECTORS FOUND CONDITIONS
AT MINE sATlsFAcToRY-
LACK OF FUNDS HOLDS
PROPERTY BACK.


On their return from recent triT
o. Mexico, T. j. Johnson and Harry
Hul directors II the santa Rosaliu
| Mining Co., made the following state
mcnt:
"Our recent visit 10 the property OF
the santa Rosalla Mining Co. situated
Iu the state of sonora, Mexico, dis
closed conditions that were highly sat
ismctory from our point of view. While
We have never doubted the great value
OF the property we have, as is well
1 known, been handicapped by an an
tagonistic interest, which, unfortun-
I lately carried such an amount of stock
/ I'm the old company as To enable IL to
nulifv an efforts ON the part of tho
/ Calumet directors 20 put the mine on
| an earning basis. II is unnecessary u
/ 20 into a detailed history of our trou-
/ rics; il is sufficient To say that az the
I time of greatest trouble, some Of the
present board, In behalf of the stock
holders. assumed the responsibility
auG expense of the effort to save for
the stockholders. their interests i'm the
property. This was finally accomplish
CA by the advance of "a considerable
sum tv a portion Of the present direct
ors, and mp To- the present time, Civ
ing their services without any COM
ponsatlou. The money obtained 10y
the assessment at the time of forming
,he new company has been exhaust
ed by necessary legal fees, in making
the transfer, in buying the claims
which enabled us 20 hold the proper
ty for the stockholders and clear u
from debt. and I'm "a moderate amount
of work at the mine while this lat
tor has necessarily been limited, our
examination. undertaken in the COM
panv of the engineer and several oth-
/ crs who were personally acquainted
with the mine, shows that the later
work has been I'm the right direction
/ The unanimous opinion Of the party
/ is that the property needs only money
/ ,o push work. In the upper levels we
/ nave few miners working over OLD
/ ground on percentage basis an'
etrinrors which they are following in
dictate that there are high values IN
/ tho ola mart of tho mine. The company
men have also opened rich ores on the
$50 POO and $50 levels and In othe'
rarte OF the mine on tho 200 leve
was opened few days since shoot
q Dra. which widencd from nothina
,o about "a inches i'm five feet This
&C. ap,2rentlv the continuation after
% slfght fault OF the vein STOPPED out
above Che POO and Is I'm virgin ground
/ Five ASSAYS showed values OF Sloo
s9q.Go. $4,000. $4,000 and $500 Cd
Ter ton. The tails Of the present GER
taiutics and the future probabilities
ara too many 90 enumeratc I'm this in
formal statement. We viii say how
ever. that I'm sinking. the shaft passed
through the vein at AGO feet below tho
adlt lowell. but was timbercd and Its
existence ignored by the previous
management.
"rn brief. we see nothing TO indicate
that the minr is less valuable than was
supposed IL is The absolute propcrty
Of the present company and there IS
mo- present claim against IT, lh'I' -
however. suit i'm the Mexican court
brought by Mr. Clanc", for the value
of the stock which re offered for sale
U Calumet Orout 10000 shares OF
the old company and for certain per'
eonal expenses, our attorneys assure
rs that there IS no probability, anf
lr fact almost mo- possibility Of a de-
.islon except I'm our favor. However
should this be decided against MS thu
extreme judgment would not be mor'
/ than SlS.0OO.Oo.
"In summing M, would say that s"
have every evidence that we own
fine property and are held in cherI
only By the lack ~ funds, to properH
ufogocutc operations"