The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1913-05-22
GOOD SHOWING
At HYP0THEEK MINE
EXPECT TO MAKE REGULAR
NEUTRALITY-SUSPICIOUS.
OF OFFICIALS.

months at the Hypotheek mine have
been productive of mighty good re-
suits and the present condition of the
property gives ample confidence in its
! future.
| This week the directors held a
meeting in Wallace and later made a
personal inspection of the mine. The
1 full board was present 1t is as fol-
lows: w. Fl. Davidson. president; j,
s. Broadbent vice president; j. II.
Kern, director, all of Moose Jaw, Sask.,
j. II. Guenther. Spokane, manager, and
otto A. OLSON. Wallace, secretary
treasurer.
1t was decided to call meeting OF
stockholders in September, conven-
lent date to be named later.
From the present showing of the
mine IT was thought by all members
Of the board that steady shipments at
frequent intervals can be maintained
In the future.
Managers Report.
Following Is the report of Manager
Guenther, showing the present condi-
ton of the mine and results of recent
work:
ITO the president and board of direct
ors of the Hypotheek Mining and
Milling Company:
"Gentlemen-at the last meeting Of
the board Of directors, held at Wal
lace, Idaho, March Is, 1913, | reported
that we had struck ore on the 724-foot
level. which ] believed to be the con
tinuation of the ore shoot on the 523-
foot level And | was not dsappoint-
ed.
After installing new pump on the
lower level, we drifted east on the
manganese vein, so feet in copper ore
1t varied in width from s inches to
feet. Assays from this ore gave val
ues ranging from $3.50 to $3.50 per
ton.
I'VE also have a fine showing of cop
per ore on the 523-foot level. 1t is
entirely reasonable to believe that this
is the same ore shoot as that below
I'VE have also drifted 100 feet west
on the lower level. In IS feet of this
drift we have found galena showing
values in lead from $1792 to $685. and
silver from 1854 to s19.44 per ton
1--WE are now stopping on the galenp
ore and timbering the copper ore drift
I'VE have carload of ore ready to
ship"
Financial Statement.
Otto A. OLSON, secretary treasurer
submitted the following report, cover
ing period between March IA and
May 20, 1918.
Receipts.
Cash on hand Mar Ia, 1913 IS 1903
Received from last assessment. 6S72.54
Received from cost of adver-
Using .......... ........... PIE
Smeter returns on first car
load of ore .............. 626.16
Total ........ ..........,s7 716,5S
Disbursements.
offlce expenses ...............$ sos
Printing and advertising $50. 1915
Sec. treas, salary and office
rent .....t...... ............ 1000 |
Directors expenses ........... 1890 |
Managers expenses .... 724O |
Mine expenses ............ $50 |
Assaying ....... ... 1850 !
Power February and March). 1903 |
Payroll, March. 1918 ........ 2as3.75 |
Payroll, April, 1913 ........... 2745.O0 |
Cash on hand, May 20, 1913.. 1860
Iotal .......... ......... $7716.5S
Treasury stock on hand 125,5OO shares
The Hypotheek mine Is about six
niles from the railroad at Cataldo The
Dad Is without very heavy grades and
Usually about four tons is hauled to
load
The recent development on the low
st level and the drifting in the ledge
S opening a big quantity of stopping
round. Two hundred feet above and
.bove the 50O-foot level Is also much