The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-09-20
Prediction Made bv
Officers of the
Company
TO INCREASE SHIPMENTS
Dividend Checks to Be Mail.
ed Oct. l; Financial
Statement

Accompanying checks for dividend
No. 2, which will be mailed to stock
holders of the Douglas Mining COM
pany on October l, will be a letter
which is now being prepared by Her.
man J. Rossi, vice president Of the
company, and A. Wyman, secretary,
which will embody a report on the
condition of the mine by H. C. Adami,
a well known metallurgist Of this city
and director of the company, and a
detailed financial statement brought
down to the date of the dividend The
financial statement starts with a cash
balance on hand. April II, 1917 of
$S992.17, to which is added royalties
received in May, July, August and
September, bringing the total re-
ceipts up to $1S,3S7.4S. Disbursements
will show payment of dividend No. l
of $S540 and dividend No. 2 of the
same amount. Incidental expenses,
$130.30, leaving a balance on hand of
$1117.18. Stockholders will not fail to
note that no salaries are drawn by Of
ficers of the company.
May Pay Monthly Dividends.
In commenting on the showing made
by the company the letter will say:
ITO the above report may be added
that the hope of your board of direct
ors has been realized in the COM
mencement Of the construction Of a
railroad by the O.-W. r. & N. COM
pany, which should have the same
sufficiently completed to the Douglas
mine by the end of this year to assure
continuous, regular and large ship
ments.
unless all signs fail, with the ore
continuing as we have every reason
to believe it will, and assuming that
the Anaconda company will continue
its large operations on our property
a regular monthly dividend may be
expected early next year, probably
commencing March H.
Mr.. Adami's Report.
Stockholders will be pleased with
the excellent showing at the Douglas
as described in the following report
by H. c. Adami:
Il found the surface equipped with
new buildings, such as an ore bin of
100 tons capacity, compressor build
ing, blacksmith shop, dry house and
several small houses occupied by the
miners. The new machinery installed
by the Anaconda Copper Mining COM
pany consists Of a 150-horsepower
motor, securing power from the Wash :
ington Water Power company's elec-
trio power line built from their main
line, compressor which furnished air
lat present for six machines as we'll
as air for hosting.
1.-THE property is well provided with
mine cars, drill steel, track, air pipe,
hose and all tools necessary for large
operations.
"The mine has been well developed
and all work done in good workman
like and miner like manner. The two
tunnels above the main tunnel have
been extended in on the, vein and we'll
opened up by raises, connecting all the
upper works with the main level
"The vein in the upper works Is
continuous and will average about
two feet or better for several hundred
feet in length.
"The face Of the main tunnel over
900 feet from the portal shows about
10 inches of ore and indicates that the
vein still continues. This tunnel is
not being extended at present
1.-THE shaft has been unwatered to
the 1O0-foot level from which point a
crosscut was run 80 feet to the vein
on which drift has been run 374 feet
to the east. The face shows about Is
inches Of ore and should continue in
width as the drift Is just entering un-
der the best showing in the upper
tunnel. At present accompaniment
raise Is being run from near the face
to the level above. The driving OF
this raise and the drift is being car
ried on by three S-hour shifts.
Tn addition to the first class ore
being shipped, dump of over 5000
tons of ore has been taken out and
Is being worked on small scale
through two hand jigs.'
"The company employs rs men and
is hauling ore with 10 4-horse teams