The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1914-04-30
RESUMPTION Of MINING ON NORTH SIDE
GIVES ENCOURAGEMENT FOR THE YEAR
SHIPMENTS BEING MADE MoNARCA-MUcH ACTIVITY
AT THE PARAGoN-BiG MONTANA POWER COMPANY
ENTER coEUR DALENE DISTRICT

/ MURRAY, April 26-The month
now closing was not a very eventful
one on the North Side. yet progress
was made in restoring semblance of
confidence in much better future
than the conditions which have pre-
vailed for a year past. The Monarch
property was started up by lessees ON
the 1st and they have shipped four
carloads Of lead and zinc concentrates,
and they expect to send out two more
carloads before the 3lst. The main
owners of the property are expected
here during May to look over the sit
uation, and there is some hope that
the legal tangle in which the COM
pany is involved will be settled. This
may or may not be Of interest to
scores Of creditors, chiefly the miners
under the management of the Occur
d'Alene North Fork Smelling and
Mining company.
Stedman to Start Paragon.
Preparations have been made for a
week or more to start up the Para
lst of May. Manager Stedman has
been personally on the ground. sup
erntending the work. 1t Is said the
shaft at the London 4 Chicago claims
be the main object of attack. 1t is
now down about 100 feet below the
creek level, the lowest work below
water level on the North Side. All
fined to tunnelng, except at the Giant
Ledge formerly Granite & Allie).
The Paragon Consolidated Is well
equipped for sinking the shaft eXpedi-
tiously, having splendid water facl-
tiles for power and substantial COM
pressor, with all accessories. The
Black Horse mill is just below the
shaft. This mill has reduced consid-
elable Paragon Consolidated ore and
will no doubt again be made service
able in the near future.
Rival Of Washington Water Power.
The people of the Coeur d'Aenes
are no doubt much interested in the
rival Of the Washington Water Power
company. the Montana Power COM
pany, which embraces the Thompson
Falls plant, for the Montana company
may play an important part in the in
dustrial development of the mine!
within the next two years. At leas
the Montana company is directly a
our doors, so to speak, and it's vas
resources are for the first time full.
made known in its annual report TO-
the year 1913. This report is as fol
lows:
A Great Power System.
Gross earnings and other income
of the Montana Power company, GOV
ering operations Of the Great Fall
Power company, the Thompson Fall
Power company and the Montana
Reservoir and Irrigation company, 70,
the year ended December 81, 1913
amounted to $3,539,19S This is an In
crease of $51G,234, or III per cent
over the preceding year. The annua
report issued to stockholders show:
that Of the amount stated as gross
earnings $7,036 was received as in
terest from banks and outside sources
Operating expenses and taxes In 19l;
aggregated $1,117,774. This compares
with $974,S2S in 1912. Net earnings ir
1918 were s., ,421424 as compared witt
$2,04S,136 in 1912. Interest charges II
1913 were $9O1,47S. while in 1912 they
were $1,252,913 The surplus Owe
charges therefore was $1,519,946 IL
1913, as compared with $795,223 II
1912. Operating expenses and taxe
amounted to 31.6 per cent Of the gros
earnings in 1913 and to 1922 per cent IL
1912. The total charges for interes
included s36,9S0 bond discount Presi
dent John D. Ryan states in the repor
that the growth in business has beel
general over the entire system. Prac
tically one quarter of the new. busi
ness has been done In contract witt
mining, smelling and railroad com