The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-09-02
HERCULES SHIPMENTS
UNDER FEDERAL TERMS
REPORTS REGARDING ORE TREAT
MENT PENDING COMPLETION
or NoRTHPoRT PLANT.

After being closed down for tire
months, the Hercules mine and mi
resumed operations last Saturday
giving employment to about $50 mer
The shutdown was the outcome of
disagreement between the Hercule
company and the American Smelling
& Refining company in the matter .
renewing the ore contract which ex
pired the last of May. The Hercuie
enjoyed a very favorable contract, m
Its renewal would have meant that tn,
same terms would have TO be granite
other large producers of the distrnt
which are tied up under less favorable
contracts. Since the mine closed dCwr
high officials of the A. s. & r. com
pany have visited the district and con.
ferred with the Hercules people, and
1t is understood that the manager 81
the big mine visited the east FOR &
conference with the smelter people
The result of these negotiations Is not
terests have In the meantime Dough
and are now remodelling the Nor h
port smelter is the best evidence thai
no satisfactory basis for the adjust,
ment of the differences has been
found.
Although work on the Nortliport
plant is being pushed as rapidly as
possible. it will nevertheless require
considerable time to place 1t in POSI-
ton to handle the output of the Her
cules, and for that reason there IL
much speculation as to where tile
Hercules ore will be shipped in the
meantime and the terms upon which
1t will be treated. 1t was reported this
week, but like most reports regarding
the Hercules, 1t lacked confirmation
that the A. S. & r. company ami the
Carnegie Smelling company of Pitts
of the Hercules output, but that Mt
contract has been entered into, the un-
derstanding being that the terms Of
the contract under which the Federal
Mining & Smelling company ships lis
ore are made applicable to the Her
cules until such time as other arrange
ments are made for handling 1t. The
terms under which Hercules shipments
are being made may never be known
but the fact that Harry l., Day, on
of the owners of the Hercules, re,
tains his position as manager of the
Federal, subsidiary of the A. S. .. J.
company, indicates that some temper
airy agreement has been patched up
that will bring more grist to the Gug-
genheim mill in consideration of treat.
ing Hercules ore while the Day smel,
Ter n Northport is being made ready
to handle 1t. 1t is significant that no
talk Is heard Of the Bunker Hill or the
Stewart companies demanding re.
of their contracts to con
form to the terms under which Her.
cules ore Is now being shipped
II Is understood that the purchase OF
the Northport smelter Is strictly 81
Day enterprise, and does not include
other large owners of the Hereuie,
mine. In this connection the follow
ing from the Spokane Chronicle 81
throws interesting light o.
low the enterprise is being financed
Reports from Northport that tho
BUSINESS of reconstructing the North
,ort smelter Is being conducted in the
lame Of the Tamarack & Custer Con-
olidated Mining company have arous-
d the belief among Spokane mining
men that the smelter property will b,
aid for by the Tamarack surplus fund
stlmated at 100000.
Investigation of the power of the
oard of directors of the Tamaracp |
ompany to purchase a property, au.
horized by articles of incorporation
as disclosed the fact that the three
lembers of the executive committee
an conduct all business for the com
any. purchase properties, and trans
CT all arairs without consulting tn.
'her directors or stockholders. One
aragraph in the articles, as filed II
he state of Nevada, says:
The directors shall have the powe,
appoint three of their members
executive committee. Such execu.
We committee when so appointed D
lail have and exercise all the power Ii
the full board of directors, n
" The directors shall have the power n
adopt, repeal or amend bylaws p
Ithout referring the same to thu I
eekholders for approval or rejection. o
The Tamarack & Custer Consoli- b
ted Mining company is incorporated $
the state of Nevada. The laws of o
state require no annual meeting of a
corporation and give the directors Il
mplete power over the assets of the C,
o,