The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1915-06-05

respondent at Alpha on the watch
every night to get glimpse OF this
duplicate OF the "Headless Rider OF
Sleepy Hollow"
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represent the value OF the ore only
and that any other items of value
existing upon the property should be
added to the mineral values in fixing
the cash value Of the property.
In other words the only things con
sidered by commission in fixing the
mineral values was the ore under the
ground, the machinery and buildings
necessary TO mine and put that ole in
the cars. Any land or buildings locat-
ed on land other than that used i'm
mediately In the mining process was TO
be valued at whatever they would sell
for in the market and that value ad-
ded 70 the mineral value, II a mining
company holds forty acres OF land
that can be plated into city lots the
value OF that forty acres is what the
land will bring in city lots, etc.
Investments Not Considered
When the Bates mine was reached
Mr.. Vogel for the Florence people
registered an objection claiming that
the valuation of the mine was greatly
increased and that under the present
outlook at the property the company
cannot realize out OF the mine what
has been put into II in development
Mr.. Allen replied that the reason
for the increase in the Bates valuation
is that the property has ceased TO be
considered as an exploration and is
classed as a mine. He further stated
that the amount of money invested in
a property is not considered by the
commission in making its valuation OF
the property The question asked is
what is this property worth on the
market, not what Il has cost to make
mine OF IL.
Objects To "0utside, Figures
Supt. o. c. Dawson brought out
point in connection with the asses
ment on the Dober mine. The factor
used in computing the value was the
outside profit and the figures OF ton
mage used was the outside figure Dr.
Allen acknowledged that he had used
the extremes in figuring the value.
II don't question the factor. neither
do | question the tonnage. said Mr.
DAWSON What object to is giving us
this outside value on known things
and al the same time maintaining this
policy In connection with things that
are not known, such as the Youngs-
town mine think that there should
be some latitude allowed for the un-
forseen exigencies that are going to
occur We are not going TO mine as
cheaply al all times as now and some
lee way ought 10 he given to provide
for such contingencies"
The appeal struck the commission
so favorahly that they promised TO
consider it
DiscouragIng u. p. Development
Gen, Mgr M A. Duncan OF the
Cleveland-Clins Co. registered a very
live objection TO the policy OF extreme
taxation on undeveloped ore bodies In
connection with the assessment OF the
Erickson property in Bates This
property, so the drillings show. con-
tains a large percentage OF high silI-
cious ores In connection with SEINE
high grade ores Mr.. Duncan objects 10
the universal factor being applied
against all OF the tonnage shown 10
the drillings for tho reason that all Of
Il Is not merchantabie.
This policy OF taxing undeveloped
ore bodies 10 the limit ia having a very
depressing effect upon the develop
ment Of this upper peninsula. Er-
ploratory work has stopped because
the outlook is such that II an ore de-
posit Is found there is little likelihood
of disposlng Of the ore and the policy
Of valuing these explorations TO the
limit makes the carrying charges so
high that Il r. stopping the search for