The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-07-04
Will Pay for Stock
Now Held in
Escrow
WANT MEN FOR MINE
Will Crosscut to the South
Vein.-.Plans Indicated in
a Recent Letter
T X. GEORGE, of New York, who

T X. GEORGE, of New York. who
holds an option on majority of
the stock Of the Hypotheek Min
ing & Milling company under
an escrow agreement to pay for the
same on basis Of Is cents per share
on or before the 18th day OF August,
announces that he expects to pay for
the stock within a short time, and
that plans are being perfected to be-
gin operations at the mine Immediate
| ly thereafter. This information was
contained in a letter from Mr.. George
to Otto A. Olsson, secretary and man
ager of the Hypotheek, received this
week. In anticipation Of beginning
work, Mr.. George requests Mr.. OLSON
to investigate the labor situation with
| the view to having men to fill all po-
sitions, 80 or 40 being required In ad-
dition to the number now employed at
the mine. The deal on the Hypotheek
was consummated after an exhaustive
examination of the property by an
engineer sent here for the purpose by
entered into for the sale of the control
of the property only about 16 or II
men have been employed, these being
engaged in development work.
Ore in East Drift.
When work is resumed under the
new control it Is expected that one Of
the first places to receive attention
will be the east drift on the 900 level,
where the ore was cut off by fault.
Efforts to locate the ore east of the
fault by the present management
proved unsuccessful, but Mr.. Georges
engineer is of the opinion that he
can find the ore without great diff
fculty and this will be about the first
task he will undertake.
Crosscut to South Vein.
Another highly interesting develop
men THAT will be taken up at the
same time will be the extension of a
crosscut from the 900 level to the
south vein, work that has long been
contemplated by the present man
agement. Special interest attaches
to this crosscut owing to the fact that
diamond drill disclosed good body
of ore in this vein and there is every
reason to believe that this crosscut
will add an important resource to the
mine. This crosscut has already been
started and the distance to be run to
the vein is Ago feet.
Recently an ore shoot Of consider
able importance has been opened on
the 600, being an intermediate level
between the 500 and 700. This same
shoot was found on the 500 and a car
load of ore was shipped from it. The
ore shows up fine on the 600 and
slopes are now being opened for it's
extraction.
Ore on the 100.
In the east drift on the 100 level,
the lowest level in the mine, there is
also good showing of ore which is
now being stopped. The purpose OF
the new owners will be to push dew
elopment at all points where there is
ore or reasonable prospect of dew
eloping ore with the view to crowd
ing production to the limit With this
idea in view Mr.. George has also TAX
en- up the matter of constructing a
tramway. 1t will be recalled that the
present management had the con-
struction of a tramway from the mine
to the railroad at Enaville well under
way several years ago. and a contract
for the line was entered into with the
Riblet Tramway company, Of Spo-
kane. Mr.. OLSON has been requested
by Mr. George to take up the matter
with the Riblet company and learn If
the old agreement still holds good.
making allowance for increased cost
The Hypotheek company owns mill
site at Enaville and has secured all
right of way concessions for the tram
way.