The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1913-06-26
RA|NBOW.S|LvER ROCK
COMPANIES COMBINE
WELL KNOWN OSBURN MINING
PROPERTIES TO BE WORK.
ED JOINTLY.

In furtherance of the proposition to
consolidate the holdings of the Rain
bow and Silver Rock Mining compan-
les operating on the east and west
sides of Shields guch, about a mile
east of Osburn, and including also a
promising group on the Little North
Fork of the Occur d'Alene river, a re-
cent meeting OF stockholders author
lied the following self-explanatory
letter to be sent out to stockholders:
Office Of Silver Rock Mining Com
I pany, Limited, Wallace. Idaho. June
3, 1918.
To the Stockholders;
On account of the many advantages
in working the Silver Rock and Rain-
bow properties under one management,
the directors of both companies hayn
agreed that to consolidate will mean
a big saving and every stockholder
will stand chance to get better and
quicker returns.
| AS the proposition stands TODAY.
your manager, who is also manager
the Rainbow properties, and i~strn-
mental in selling stock OF bntl m
panies for their development tlnds i
difficult to place enough of the stock
of each company to push the work as
rapidly as desired
1 One shaft could be used to work the
Silver Rock and Rainbow No. !, as the
properties are on the same vein. and
join end stakes in d morrow gulch, II
either or both properties become pro-
ducers, there Is a chance for litiga-
tion as they now stand, on account OF
the limited amount Of room in the
gulch.
The property No. of the Ra.nbnw
Mining company has about l7a0 feet
of tunnels crosscuts and raises. The
main tunnel being in 1850 feet along
the vein. Picked samples Of ore have
been taken from these workings that
gave assay returns of 80 per cent cop
per and t31 ounces of silver per ton
In addition to the property mention
ed above, the Rainbow company Is
the owner of four claims located on
the Little North Fork Of the Coeur
d'Alene river The vein can be traced
across the four claims and shows 2
width of from to 20 feet. composed
of quartz, oxidized iron, galena, traces
of copper and vein filling.
Two tunnels about thirty feet each
have been driven across the vein AMI
the main work is now being directed
,,I vi rfJ,n Jntypr crDEScllt
tunnel which starts from the creek
bottom and is now in q distance Of
235 feet The last few feet of work
shows several stringers Of quart iron
in decomposed form, CARRYING some
vcrv rirl values In s'fver 'r07 "
believed iu6g'n- Frat
dications. that the main vein Is close
at hand.
The Rainbow company offers one
share of stock of the Rainbow Min
ing and Mining Company, Limited, for
. each two shares of outstanding stock
y of the Silver Rock Mining COM
pany in consideration Of the transfer
: by deed of the property Of the silver
z Rock Mining Company Limited, 70
: the Rainbow Mining and Milling Com
pany, Limited
q If this deal is effected each stock
r holder will own an interest in the
D. three properties above mentioned IN
proportion to the amount OF stocR
!. he holds Of the Rainbow Mining and
Milling Company Limited We art
s desirous of closing this deal at once
and respectfully request each stock
! holder to sign the enclosed letter q
4 instruction and mail 1t with its Ger
,f tjflcate duly endorsed to George Au6-
&C tin, secretary. Wallace, Idaho
Respectfully submitted,
q H. T. ROSST,
= GEO. AUSTIN
,e SIG HOFSLUND,