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


Residence Of +. Lassinius Fired BY Oh
store Monday Morning
An alarm Of fire was rung in from
Art varney's corner last Monday
morning Al $50 and in less than two
minutes the fire truck was on the
scene,
The flames resulted from the explo.
sion OF an oil stove in a small room in
the house. When the firemen arrived
the flames were issuing from all parts
OF the house and IL was thought inn
possible TO save the building.
One of the fireman took charge OF
the chemical end OF the operations
while the other two got the water on.
BY the time that the water was ready
the chemical plant had the flames so
under control that very little water
finished the Job.
The flames were extinguished with
out much damage from fire but the
house and furniture were badly dam
aged by water. The work done by the
fremen at this FIRE was exceptionally
good and deserves the praise OF all
for the Pickands- -Mather company In
relation to this mine and asked to be
heard saying, Il had something to do
with fixing the original value OF this
property at the time Mr.. Finiay ap-
praised H."
You had something to do with hx-
ing its value later, did you not?, in
ouired Mr.. Kearney, 10 which DR.. Leith
assented.
In order to inform all upon the con-
dItion OF the property the commission
had DR.. Allen read the figures he had
compiled which are as follows:
Developed ore above teh 3rd or low
er level 2,175,o43
Estimated additional tonnage hgur-
ing 200 feet below the 3rd level, 2,251,-
$50.
Total ore Jan. with stocked ore
added 4,5ss,O79
Factor used S3lA.
Profit factors for past four years.
1911. AZ; 1912, 6S; 1918. IS; 1914, 80.
Dr. Allen called attention to the
fact that the profit factor is in a con-
stantiy increasing scale notwithstand-
ing the slump in ore a condition that
doesn't rule at any other property. In
explanation for the taking OF 200 feet
instead OF 100 below the bottom as the
probable zone Of extension, Mr. Allen
said that everything at the Caspian Is
so out OF proportion to the conditions
that reign at the other properties
thereabouts that he considered he was
justified in taking that factor The
Caspian gives every indication OF ex-
tending many more feet down.
DR.. Leith argued that, as the third
level showed such an extraordinarily
large area, IL was reasonable 10 sup
pose just the reverse is indicated or
reverse folding very soon. This the
DRY didn't hit Mr.. Allen very favorably
FinIay Adjusted Values 10 Earnings
An interesting feature of the Finlay
valuation was revealed by DR. Leith-
II will be remembered that Prof. Fin
lay was given about four months TO
appraise the entire upper peninsula
mines and that a Atorm OF criticism
resulted from the values that he es-
tabllshed at the time and they were
considerably reduced by the state tax
commission then and have been whit
tied down considerably since.
Or Leith stated that Mr. Finlay
found Michigan shipping a certain
amount OF iron ore and making GER
tain profit and he proceeded TO appor-
tion this proft among the mines OF
the state
He divided the mines into groups
and allotted TO each group certain
proportion OF this proft and when II
came TO the individual Of the group he
put the big share Of the burden upon
the mines that could stand Il best Ac-
cordingly the Caspian and few more
big mines were picked out Of the Iron
county group and made 20 absorb the
necessary valuations. That is the way
the Caspian came TO be assessed at the
enormous figure that - was assessed
al by Finlay
This inside information Of the Fin