The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-04-06
CONTROL COPPER KING
WORK BEGINS At ONCE
NEW MANAGEMENT ADVISES THE
sTocKHoLDERs TO RE.
TAIN HOLDINGS.

The rapid advance of Copper Kint
stock during the past week or two II
explained by the following circular
letter issued to the stockholders of the
company by ID. X Mcdonald, president
and H. W. ingalls,:
You are hereby informed that the
controlling interest In the Copper King
company has been purchased by d. X.
Mcdonald of Spokane, who has been
elected president Of the company, and
win hereafter direct its affairs. Mr..
Mcdonald Is head of strong syndi-
cate of capitalists who have made a
thorough and exhaustive examination
of the Copper King property. and who
have provided ample funds for It's fur
Their development by purchasing 600,-
900 shares Of the company's treasury
stock, which money Is available for ex-
tensiye development work. The new
management believes that with the
money on hand 1t will be possible to
develop the property to a profit earn
ing basis, and desires the support and
cooperation Of every stakeholder
"The new management has no wish
to tie up or In any way command the
stock owned by individuals in this
company, but 1t is the wish of the
management that the stockholders
have full knowledge of the cause for
the remarkable advance and activity
of the shares of the company, and be
in a position to protect their holdings
have sold the stock Short" and are
trying to break the price down in or
der to protect their own interests, re-
CARELESS of the interests of the stock
holders. We predict much higher
prices for Copper King shares In the
near future, and advise you to be very
careful in selling your holdings.
According to the estimates of engi- F
neers we have but 400 to 500 feet to
drive to open the ore body on the low
er levels and with this accomplished .
profitable life ahead of it.
Our engineers pronounce the Copper
King one of the best properties in the
Occur d'Alene district for the making
of big and profitable mine, and it was
not without investigating thoroughly
the merits of the property that the
new management decided on it in pref
erenee to many others as worthy of a
thorough development campaign
Men are now at work cleaning up at
the property getting things in shane =
for the contractors, and we hope In the
near future to be able to report to you
the success we believe we win
achieve"
Ore West of Fault.
In the upper tunnel of the Copper
King there is a shoot of ore, high
grade lead-silver ore, for several hun
dred feet. A fault running north and
south cuts the vein in this tunnel and
On the east side of the fault the vein
IS clearly defined but carries g
on the west side the ore extends up to
the fault which dips to the west. The
'rosscut 1000 feet below was run 1000
eet to reach this ore shoot, but failed
o find it, although the vein was cut
ind shows more or less ore The the
Try is that by drifting west to and
through the fault thesore shoot will be 5
ound. Drifting in that direction has {
lready been extended several hundred
eet and it is expected that from 400 to
100 feet will have to be run to get Q
through the fault. |
Company Strong Financially.
The Miner is informed that $4,000 ;
5 now available for developing the
Upper King and more when neces-
ary The new president d. X. Me-
Donald, has long been prominent in =
evelopment enterprises in the north
'est including both mining and irri- II
ation He is now heavily interested G
mining In Montana and British Col Y
mbia, and he has carried to a success g
III conclusion several big land inn
rovement projects in the vicinity of
pokane. He now holds almost mil u
on shares of Copper King stock, the II
Ill capitalization being 100000 q
1ares, The work on the property will a.
e for the present by contract and bids u
ave now been invited. Development !,
i'll be under the direction of r. C. u
who has long been a heavy ID
ockholder, re
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