The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-04-04
Showing Gives Old
Mine Flattering
Outlook
MAY INSTALL MONORAIL
Ore Contracts Receive Atten-
tion---Adopt New
Bylaws

Il stockholders of the Success. cess
~ Mining company in this city
last Monday afternoon James
F. Callahan was elected a director to
succeed E. Clarke Walker, of Spokane
With this exception the old board was
reelected, the directorate now being
Franklin Pfirman, Herman j. Rossi
w. R. Mullan, M. L. Mahoney and
James F. Callahan. all residing in Wal
lace except Mr. Mahoney, whose home
Is in Burke. The directors have not
yet organized, but it is assumed that
the old officers will be reelected. About
100000 shares were represented in the
meeting.
Adopt New Bylaws.
One of the most important matters
to come before the meeting is the
adoption of new bylaws for the COM
pany. The Idaho law requires two
thirds of the issued stock to be rep
resented in any meeting of stock
holders in which the bylaws are
changed or amended. Success is cap
italized for 100000 shares, all Of
which are issued, and to comply with
the law it is necessary to have 1000, 900
shares represented in the meeting be-
fore taking up the change in the by
laws. Steps have been taken to Sc
cure additional representation either in
person or by proxy and when this Is
accomplished the further business of
the meeting will be taken up. In the
meantime the meeting adjourned to
meet when sufficient representation Is
secured which will be a matter Of only
a few days.
Other Subjects for Consideration.
Before final adjournment is taken
the stockholders will take action or
authorize the directors to take action
on number Of matters looking to fur
ther economy in operation. One Of
these is the question Of transporta-
tion of concentrates from the mill to
the railroad, distance of about half
a mile. Wagons are now used for
the purpose, making 1t necessary for
the company to keep a large number
Of horses and much equipment, alto
gether entailing a heavy expense. The
company is giving serious considera-
tion to the construction of a mono
rail tramway to take the place Of
teams The monorail has been tried
out at the Highland Surprise with
most satisfactory results, and 1t seems
to be especially we'll adapted to the
requirements at the Success.
Office at the Mine.
The company is also considering the
erection Of modern office building
at the mine, which would not only
facilitate handling the company's bus
mess, but would cut out the expense
OF maintaining an Office in this city.
Ore Contracts.
Perhaps the most important matter
to which the board of directors are
giving their attention is the ore con-
tracts under which the zinc and lead
products are being shipped. The zinc
contract is with the Grasselli Chem
ical company, Of Cleveland, and soon
after being elected president Of the
company, Mr.. Pfirman conferred with
the Grasselli company with the view to
obtaining certain notifications more
favorable to the Success. While his
negotiations were not as successful as
he had hoped. certain valuable conces-
sions were obtained and 1t is regarded
probable that further direct modifica-
tions may yet be secured.
The Success lead product is under
contract to the American Smelling &
Refining company. This contract ex-
pires next month, and the company
has assurance of making much more
favorable agreement, as there is ac-
tive competition among several smelt-
ers for the output. That the company
will be successful in obtaining more
favorable terms for its product. both
lead and zinc. seems reasonably GER
tain, which, taken in connection with
the steady improvement in the mine
will result in substantial increase in
the earnings Of the company.
New Orc on Three Levels.
The ore shoot in the east drift on
the 1900 level, which was struck soon
after the change in management, has
now been proved for 100 feet with the
face Of the drift still in ore. In places
this ore Is 25 feet wide and the width
for the 100 feet is placed at about II
feet. Slopes have now been opened