The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-02-07
Dividends PaidOver
Two and a Half
Million
BIG SHOOT GOES DOWN
Tonnage in Sight Good for
More Than Three Years
.-Newton's Report
-HE FIFTH annual report of the
Consolidated Interstate Callahan

Consolidated interstate Callanan
Mining company has been re-
: ceived. In addition to COM
prehensive review by the president, a
detailed report by the mine manager
and a financial statement by the
treasurer, the pages are Illuminated
by surface and underground views Of
the mine and a view of the mill. The
report covers operations for period
] Of IS months, ending November 81,
this being due to changing the fiscal
year of the company to conform to
the company are summarized by the
president, John A. Percival, in the
following paragraph:
Earnings.
THE operations of the past Is
months show net profit of $685.
T6.49 Adding to this the surplus of
sSO6,710.6 as of June 80. 1916, makes
total Of $3,132,5S715. Out of this
there were paid during this period
dividends aggregating $3.50 per share,
or total dividend disbursement for
the period covered by this report of
1851 ,44500. These dividends, togeth
er with the dividends paid prior to
July /, 1915, bring the total dividend
disbursements of the company up to
s14 per share, or an aggregate of &c.
5O9,S60 since April l, 1915, the date of
the initial dividend payment. This
disbursement is equal to lao per cent
on the par value of the stock, ($10 per
share)"
Mine and Mill.
Referring to the managers report,
Mr.. Percival states that a fine body of
ore has been developed on No. level
and the same high grade ore has been
recently opened on No s. The shaft
is being extended to No 8, which is
1860 feet below the main working tun-
mel.
OF the new flotation plant, he states
that the company entered into a con-
tract with the Minerals Separation
corporation for the use of it's patents.
The plant is now in operation and is
expected to give recovery of up
wards of 80 per cent. This process
will also be used in retreating the
large tailings dump.
New Property Acquired.
The company has made substantial
additions to it's holdings, as will ap-
pear in the following paragraph from
President Percival's report:
Our company has acquired con-
trolling interest in the Blue Grouse
Mining company, and also controll-
ing interest in the Silver State Mining
company, which properties adjoin the
Interstate property on the north. We
have also acquired full ownership of
the Nipsic property, which adjoins the
Silver State property. These three ad-
ditional properties increase the acre
age of the Consolidated Interstate
Callahan Mining. company by approx
imately 342 acres, giving our COM
pany a total acreage at this time OF
1850 acres. A crosscut is now being
run from the Interstate No. level
across the Silver State property and
into the Nipsic property, which Will
open up the Nipsic vein about 1000
feet below the ore body indicated in
the upper levels of the Nipsic mine
and will also develop the Silver State
property"
Amazon Manhattan.
The Amazon Manhattan deal is dis
cussed by President Percival in th'
following paragraph: During th'
year our title to the Amazon Manhat
tan property, which was acquired b!
the company some years ago, wa
questioned by adverse claimants, ant
the matter went to the state courts
Idaho for adjustment, which resulted
In the courts directing that the ad
verse claimant be awarded the prop
erty, upon the return to the compan
Of the full amount paid for the ANA
zon- Manhattan, i.e., 100000. At tn
tlme our company purchased the Am
azon- Manhattan property 1t was con
sluered a good prospect, and durin
our ownership we expended consider
able money in its development, with
Out however, encountering any con
SIDERABLE ore therein, and no ore wa
ever shipped from the Amazon Man
nattan property during the time 1t wa
N ned by US. We therefore feel tha
with the return Of the purchase pric
u this property. our company has sui
.ered no material loss, and that wit
Me acquisition of the new propertit
n1a NMI 60