The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-12-20
EAST CALEDONIA MINES
REPORTS OF OFFICERS.
SHAFT TO 600 LEVEL is ALMOST
OBSERVATION-DISCLOSURES
GIVEN FULL INFORMATION.

The management of the East Gale
donia Mines company is deserving of
commentator for it's consistent policy
of keeping its stockholders thoroughly
informed regarding the operations of
the company and the exact condition
of the property. The East Caledonia
is being developed by assessment Of
the. stockholders, and the people who
are putting up the money are certain
~ entitled to know how 1t is being
spent and what is being accomplished.
This evidently is the view taken by the
East Caledonia management, and at
frequent intervals circular letters are
mailed to all shareholders In which the
officers render a detailed report, in
Guiding financial statement, together
with statement from the engineer
who is directing the work. Such let
tiers have just been issued, one signed
by Franklin Pfrman, president and
Herman J. Rossi, secretary treasurer.
and the other from Rush j. White,
mining engineer in charge. Extracts
from these letters are given below:
From the Officers.
I'VE advised you at the time the
notice of the last assessment was
sent out, that we would sink to the
600 level We have been engaged in
this work since that time, and have
now nearly reached that level. This
has so far been done at little less
than $50 per foot an extremely cred
table showing, as any miner here
would verify. We could have spread
this work over longer period and
thus deferred the levy of the present
assessment, but this would have re-
suited In a higher cost per foot, as
fixed charges are the same whether
we work at maximum or minimum.
These fixed charges include power,
water. engineer foreman, taxes, in
slrance, office, secretary and tele-
phone, totaling over $500 per month.
Manifestly it Is to our financial in
terest to accomplish as large an
amount of development per unit of
overhead as possible. AS shown by
the engineers report, we worked three
shifts in the shaft working continu-
onsly the whole "a hours, This Of
course resulted in proportionately
increased consumption of supplies,
and besides men are paid extra for
shaft work.
TN order to do this work cheaply
we were forced to do it quickly and
hence the necessity for assessment
No. sooner than would ordinarily
have been the case We feel that we
should as quickly as practicable get
TO work on the 600 level and explore
that believing that by so doing we
win demonstrate East Caledonia to
be mine. From the surface down.
ward we have had ore on each level,
better ore and more ore in each down
ward extension, and we feel justified
In believing that on the 500 the ore
win be so much more in quantity and
richer in quality that it will then pay
to work the mine for the ore,
High Mining Costs.
mining costs have continued to in
crease, Powder costs 26& cents per
pound, as against half that before the
war, and p cents year ago. Fuse,
caps, steel and minor supplies, tools
and machinery OF all kinds are pro-
high. Labor is s1,00 per
day more, but fortunately we believe
that we have had most efficient labor
and have less to complain of on that
score than most properties. Our
plant, for it's purpose, Is most eff
cient. Yet just ahead, beginning the
first of next year, comes an added ex-
pense, more than doubling the cost of
from accidents. This arises
from the worlkmen's compensation Law
of Idaho, passed at the last session of
the legislature, under which the COM
pany must pay for every injury sus-
tanned at the mine, whether we are at
fault or not. The purpose of these
laws we believe to be good. The COM
pensation law Is very broad and pro-
vides for all injuries received in the
course of employment to be compen-
stated for at the expense of the en-
ployer, including necessary medical
etc. We have taken out
protection in a surety company to
cover the liability.
Local Demand for Stock.
There has sprung up a consider
able demand for East Caledonia |
stock, apparently at Kellogg. 1t may
interest stockholders to know that
our foreman has recently purchased |
10000 shares and that he reports that.
the property in his opinion, is going
to make a mine. He is there in the /
every day and during the
sinking of the shaft has been there
At all hours of the day and night, and
Knows thoroughly the conditions He
3 especially pleased at the character
Of the formation, which in his judg-
nent, has improved wonderfully with
lepth, and as he backs his opinion
with his money 1t is entitled TO
weight.
There are now outstanding 692,109
'hares of our capital stock, leaving
M sol sharae IL, ba trao.,,r,, CAL, /