The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-12-20
DOUGLAS DIVIDEND
.D|SBURSEO TO-DAY
Royalty Received
for November
$2307
TOTAL PAID is $23,479
Current Dividend Is $6,403
mime in Fine Con-
dition

~ TOCKHOLDERS of the Douglas
Mining company will receive a
8, Christmas greeting in the form
of dividend checks at the rate
OF three quarters of cent per share.
This was the decision of the board of
directors at a meeting last Monday,
after receiving the royalty from the
company covering ore ship
ments for the month of November.
The statement shows that during the
10 cars were shipped or rather
for probably half the number
were shipped in october, but not
SO ampled until the following month and
were therefore accounted for in the
statement. With these de-
dueted it will be seen that the ship
ments in November were very light.
The roads were practically impas-
sible during the month for heavy
that shipments were made at all. The
10 cars covered by the November
statement aggregated 1,53S,465 pounds
or 1928 dry tons, for which the Doug
per ton, amounting to $2,307,7O, which
amount has been deposited in the
First National bank. This with the
balance in the treasury was not suffi-
al ha nj 1
cent per share, and the directors de-
cided that stockholders would prefer
to receive the reduced amount at this
time rather than wait under the un-
certain conditions for an increase In
the surplus. The dividend checks,
making a total disbursement of $6,4O3,
will be mailed this week, probably to-
day, accompanied by the following let
ter from Herman j. Rossi, vice pres
ident, and A. Wyman, secretary treas
urer:
Bad Roads Curtail Shipments.
Herewith hand you check for divi-
dend No 3 of nc per share being the
largest amount available to be paid at
the present time from royalty secured
from the Anaconda Copper Mining
company, the lessees of the property
of this company.
lowing to the fact that shipments
have been suspended by reason of the
impassabilty of the roads and. in view
of the fact that it may be several
months before regular shipments can
oe resumed, it was thought advisable
by your directors to declare dividend
for Christmas Of the funds on hand.
"""The construction of the railroad is
progressing very fast and favorably
and we hope that the prediction made
in our last report will undoubtedly
come true, namely that monthly divi-
dends may be payable commencing
with March, 1918.
development work in aggressive and
competent manner, Is proceeding with
a large force and ore has beep uncov-
cred on the west side of the group
showing excellent sulphide values and
additionally enhances the value of the
mine"
Total dividends paid by Douglas to
date, $23,479<
Condition of the Mine.
The condition of the Douglas mine
was never so good as it is now from
the standpoint Of available ore for
shipment. Although little ore is be-
ing moved for shipment, in fact none
at all at this time. large amount of
development work is being done both
in the main workings and in new
tunnel on the opposite side of the
creek. In the new level that has been
opened from the shaft 100 feet below
the working tunnel the ore shoot has
been followed continuously for over
700 feet, the size of the shoot being
practically the same average as
shown in the main tunnel, where 1t
has been proved over 1000 feet in
length and the ore is of the same
general character. On the opposite
side of the canyon the ledge was dis
covered few weeks ago and showed
about IA inches of carbonate and sui
phide ore, both zinc and lead. Since
this discovery work in the tunnel has
been continuous and ore has steadily
increased in amount and in quality.
Future Shipments.
Damage to the newly constructed
railroad on Pine creek by the high
water this week will no doubt delay
construction work, otherwise the end
OF the track would probably be at
Beeler next week and about mile
| beyond by January Is. 1t is still the
expectation of the railroad company
to extend the track mile beyond
Beeler, unless weather conditions abb
sohtely prohibit construction work
hafara tbis nau bp accommodated