The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1914-03-12
Purported Inside News on Stewart

pany may hereafter agree with Bun
ker Hill & Sullivan to treat the lat
ter's product from June /, 1915, t.
June l, 1920.
Real Purpose Of Smelling Company.
:: The purpose Of the Smelling com
pany Is plain. The Federal contrac
Will be the only one In actual exist
ence on June 1, 1915. and the Smelt.
Ing company thus hopes to force Bun
ker Hill and Stewart in under the
same provisions; and with the Federal
Bunker Hill and Stewart safely tuck.
ed away, the Smelling company ex.
poets to corral under equally gooc
terms every other shipper in the Occur
'd'Alenes.
The report Of earnings for the last
four months Of 1913 as issued by the
Federal Mining and Smelling COM
pany. shows profits Of approximately
1901 900. or at the rate Of $4,000 pc,
month. This. amounting to IN per
cent on the preferred stock, is not
sufficient to pay the per cent cumu-
lative dividends called for, and allows
nothing for profits applicable to the
common stock. AS a matter of fact
the common stockholders in Federal
have long since ceased to expect pro-
' fits on the common shares.
Another Question and Answer.
Question: can not understand whv
Stewart Mining company stock con-
tinues to sell at 80 low a price in the
market. What is the status of Stew
arts litigation against it's neighbor,
the Ontario company? Has the mine
been doing well lately from the stand
point of earnings? Will there be a
change of control?
Stewart Loses Both Cases,
Answer-The litigation in which the
Stewart Mining company has been in
volved. relating to the adjoining On
tario drain. has been carried by the
Stewart company to the Idaho su
preme court. There two suits, one of
which was brought by the Stewart
company against the Ontario company
contending that the Ontario vein apex
ed into the Senator Stewart Fraction
and could be traced over the south
end line. The other was brought by
the Ontario against the Stewart for
alleged unlawful extraction Of ore from
the Ontario claim. In both of these
cases the Stewart company lost and
an appeal to the supreme court Of Ida
no early last year also resulted in an
adverse decision.
Stewards Great Profits.
1t Is officially announced that dur
ing the last half Of 1918 Stewart Min
Ing after paying expenses of litigation
IN which it was involved, made net
profits of $35s,s42. comparing with
$2O2,623 in the corresponding period of
1912. AS the profits during the first
half Of 1918 We're $2Os,O7O, the years
total was $567.s12, of which s4O2,434
was distributed to stockholders in the
form Of dividends.
Directors Of the company are due TO
meet next month for dividend action.
and 1t is expected that a dividend at
the rate Of 1Oc share for the quar-
ter will be declared.
Federal Engineers Examine Stewart.
1t is reported from the Occur dAlene
district that engineers representing the
Federal Mining and Smelling COM
pany are engaged in an exhaustive ex-
Of the property Of Stewart
Mining, the work having been in pro-
gress for more than two weeks and
being as yet nowhere near completion
Whether these engineers are acting
For the Federal Mining and Smelling
company or whether they are acting In
The Interest Of the Guggenhems. who
control Federal Mining and Smelling,
s not known 1t is believed, however, !
hat the latter is the case, as the
are credited with being
low engaged in negotiating for the
block Of approximately 100000 shares
" Stewart Mining which is held bv
he Assets Realization company.