The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-03-04
INTERSTATE CALLAHAN DECLARES FIRST
DN|DENDOF 81 Per SHARE, 25' APRIL lsT
MIL will HAVE CAPACITY NcR eAsEo PER
roe TRAmwAY SOON TO BE LET-coMPANY is NOW
SHIPPING 15o TONS PER DAY
On April l the Interstate -callahane

board of directors at a meeting held
in Duluth last week, which was at
tended by President and Manager
John H. Robbers. At this meeting a
dividend of 81 per share was declared,
distributed into four quarterly pay
ments of 25 cents per share. 1t is au-
theritatively stated that the companys
earnings are now sufficient to pay the
entire dividend at once, but that the
directors regard it wise to make the
payment quarterly. 1t is assumed that
this attitude of the company is for the
purpose of checking an unWarranted
advance in Interstate Callahan stock,
for II should be borne in mind that the
price of zinc Is far above the normal
and while this condition lasts the
earnings of the company will be alb
normal How long present conditlohs
will last no one can possibly know,
and. of course, the company IS max
ing every effort to take advantage OF
the high price, but reaction is bound
to come and when it does the company
is in position to maintain the dlv1-
dend it has now authorized even with
zinc as low as 5 cents. While the
company decided not to make the
large disbursement all at once, 1t Is
however. certain that special or extra
dividends will be paid while the high
price of spelter is maintained.
Let Contract for Tramway.
BIDS are now being received by the
Interstate Callahan company for the
construction of an aerial tramway
from the mill to the railroad at
point near the high bridge just below
the Tamarack Custer mill. The tram
wav will be a little less than two miles
in length and will follow the east side
of the creek, most Of the distance be-
ing between the wagon road in the
canyon and the wagon road to the
Tamarack- Custer mine. The upper
end of the tramway will be about 800
feet above the lower being on a regu-
lar incline with no intervening hills tC
cross, enabling it to be operated with
the minimum power, the loaded buck
cts on down grade all the way COZ
tributing materially toward its opera
tion. It was on account Of the favor
able grade obtained down the east
fork that this route for the tramway
was selected A survey was made to
the railroad at the head of the west
fork of Nine Mile, where the distance
Is about the same but it involved
passing over a hill which would ne
cessitate much more power to operate
and also lose the advantage of the
loaded buckets
Several tramway companies are fig
uring on the construction of the line
and 1t is expected that a contract will
be awarded within the next 10 days.
EnIareing the Mill.
Already number of important
changes have been made in the In
terstate- Callahan mill which have
made substantial increase in it's out
put, and additional machinery has ar
rived and will soon arrive which when
installed will increase the capacity of
the mill fully so per cent Prior to in
creasing the output during the past
few weeks the capacity of the mill in
round figures was 1000 tons of concen-
trates per month, and when the
changes that are now being made and
the new machinery in working order
the mill will easily turn out 5000 tons
ha loft tal
and working at its maximum capacity
by June 1, by which time It is expected
the tramway will also be in working
order. With the completion of these
plans the mill question will be settled
for several years, or until the ore
above No tunnel is largely worked
out. BY that time definite plans for
the future operation of the property
below the present working level will
no doubt have been decided upon.
Present Ore Shipments.
At present the ore shipments aver
age about 150 tons per day. Thirteen
4-horse teams are engaged in hauling
the ore to the railroad, a distance of
ABOUT TWO miles. All average VI hFe
tons Is hauled and each team is sup
posed to make three trips a day Haul.
ing goes on day and night and the
management expects to add two or
three more 4-horse outfits to the pres
ent force in a few days. The company
has bought the freight outfit from
John Morrison, who until recently has
handled the ore under contract, and
viii handle the ore shipments direct
until the tramway is completed
Great Ore Reserves.
Above the No. 4 tunnel, in which
has been opened the famous ore shoot
1900 feet in length and varying In
width from to so feet, there is fully
1900 feet of stoping ground extending