The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-10-26
RECORD OF HYPOTHEEK
IN REPORT OF MANAGER
SINCE STARTING MILL IN JUNE
SHIPMENTS HAVE AMOUNT.
ED TO 100000 POUNDS.


interesting information regarding the
Hypotheek has just been issued by the
general manager of the company, ]. H
Kern. 1t covers in considerable de-
tail the operations of the company
during the past year and the results
achieved can not fail to be gratifying
TO the stockholders and inspire con-
fidence in the future development of
the property. After serious delays on
account of bad weather and the fail
ure of machinery to arrive, the mill
started in June. having a capacity of
125 tons per day, which has since been
increased to 200. From the starting
of the mill up to October / the com
pany produced 1,SS6,11S dry tons of
concentrates and crude ore. Most of
the report is here reproduced as it
tells an interesting story of how the
Hypotheek quickly passed from the
prospective to the productive and pro-
fit earning stage:
Showing in Lower Levels.
In our report of November 20, 1915,
the stockholders were informed that
the ore shoot had not yet been en-
countered on the 11O0-foot level and
that the underwriters of the bonds.
therefore, had declined to continue the
furnishing of the necessary money re-
quired for development purposes, but
held themselves in readiness to fur
nish the necessary capital to erect a
mill and tramway as soon as condi-
lions warrant, as originally agreed An
assessment was then levied and COL
lected, the proceeds of which was
spent for prospecting the vein on the
110O-foot level The vein showed up
strong and we'll defined with gangue
of principally quartz and limestone,
but no ore in commercial quantity. A
raise between the HOO and the 900
foot levels encountered the ore shoot
about ITO feet above the 11OO-foot
level, and a west drift from this raise,
about 70 feet below the 900 foot level
has been in very rich ore for over 200
feet.
I'm prosecuting from the shaft to
the vein on the 1100-foot level a
stringer of high grade galena was
struck about IS feet from the shaft.
This was explored east and west and
averaged about one foot of very good
ore for a distance of about 200 feet in
length.
Build Mill.
I'm the meantime, owing to the Eu-
rCpean war, the price of lead and sill
Yer advanced rapidly, and at the end
of February, 1916, your management
decided to take advantage of the high
metal prices and were able to induce
the underwriters of the bond issue to
take up bonds sufficient for the cree
ton of a temporary mill at the mine
and other improvements necessary to
mine, mill and ship the ore blocked
out The erection of the mill was
started at once, utilizing practically
all Of the old mill machinery and the
equipment on hand and was ready for
operation in the middle of June. Since
then the mill has been improved and
enlarged and is now capable of hand
ling about 200 tons of ore daily.
During this time we have also
erected a lumber tram from the saw
mill to the shaft built a new hoist
house, bought and installed double
drum electric hoist, capable of hoist
ing 800 tons of ore daily, erected a
new gallows frame, ore bins and tim
Der sheds, built and improved wagon
roads, built water tanks, fumes and
pipe lines, utilizing all water available
for milling and domestic purposes and
installed a pumping system whereby
80 per cent of the used water is pump
ed back into the mill, enlarged and
modernized the camp for better ac-
commodations of the working men and
built a good modern residence for the
superintendent.
sIn the beginning we were handicap
ped a great deal on account of heavy
snow and rain; then we were delayed
on account of non arrival of shipments
of machinery and supplies ordered,
and now we are suffering from short
age of water for the mill and the in
ability of the railroad companies TO
furnish box cars for transportation OF
our concentrates to the smelter.
Ship Nearly 100000 Pounds.
Nevertheless, up to october 1, 1916
our property has produced l,SS0,llo
pounds dry weight, Of crude ore ana
concentrates. The exact value OF TINS
can not be determined at this time'
as several lots are under umplrlng'
but the books of the company VIII De
audited shortly before the stockhold-
ers' meeting and detailed financiai
report submitted at that time,
I'm starting stopping ore on the Soo-
foot level the ore shoot opened up d
great deal more than we ever eA-
Mlected We have also extended the
drift east on the vein about 6o leet
and have still ore in the face and there
is no doubt in our mind but that we
have sufficient ore above the llOO-too'
level to run the mill for long time
to come.
Long before we commenced snip
ping ore we discontinued selling Dohus