The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-03-06
TAMARACK 8 CUSTER
HOLDS ANNUAL MEETING
PURCHASE OF SHERMAN AND
GROWN POINT RATIFIED
PAY NO DIVIDEND.

At the annual meeting of the Tam
arack a. Custer Consolidated Mining
company on the 26th, the purchase Of
the controlling interest in the Sher-
man Lead company held by +. r. Day,
was ratified, the purchase price being
$153,OO0. OF this sum 100000 was
used to pay the balance due on the
bond held by the Sherman company
on what was formerly known as the
Union group and the remainder is be-
ing spent in developing the property.
The purchase Of the Grown Point and
Indus claims from Mrs. Eleanor Day
Boyce was also confirmed, the consid-
GRAFTON being 100000 shares of treas
ury stock. The Indus claim lies par
allel and adjoining the Custer claim
on the north and the Grown Point has
a common end line with the Custer on
the east, filling the gap between the
| Tamarack & Custer holdings and the
sherman. These transfers are what
might be termed family affairs, as the
Tamarack & Custer Is controlled by
the Day family, and the properties in
Volved We're presumably acquired by
Mr.. Day and Mrs. Boyce with the view
to turning them over to the Tamarack
G. Custer company.
Provide Outlet for Tamarack.
In securing control of the Sherman
Lead company the Tamarack & Gus
ter company seems to have landed
two birds with one stone, one OF
which Is an outlet for the mine on
Canyon creek within easy access to
the mill, and the other is what prom
ises to be a great mine in the Sher-
man. Ore from the Tamarack &
Custer mine is now delivered to the
mill by means of an aerial tramway
two miles in length across the divide
between Canyon creek and Nine Mile.
ut is understood that the deep tunnel
now being driven through the Sher-
man ground will be extended into the
J 4Tamarack & Custer, giving depth
of some 700 or 500 feet below the
present workings and delivering the
ore at The railroad at Burke about
two miles above the mill, thus elm
mating the tramway, which 1t Is un-
derstood has never reached the car
rying capacity contemplated to meet
the requirements Of the mill.
Tamarack Ore Shoot.
Those who are familiar with the
Tamarack & Custer mine regard it as
one of the greatest mines of the dis
trict. An ore shoot, ranging in width
from three to 40 feet is said to have
been proved 1900 feet in length. the
east end of which is in the Grown
Point ground, adjoining the Sherman.
While the Sherman tunnel is being
driven primarily to develop a mine in
the Sherman ground, it will no doubt
be continued into the Tamarack &
Custer, entering the Crown Point
claim in probably not to exceed 1000
feet.
No information has been received
for several weeks regarding the
showing in the Sherman. Ore was
encountered in the lower tunnel much
sooner than expected and according to
the last information received the en-
tire face Of the drift was In CONNER.
cial lead silver ore.
Old Officers Elected.
At the recent meeting Of stockhold.
ers the old officers and directors were
reelected as follows: Jerome ]. Day
president and manager; Eugene R
Day, vice president; Harry L. Day
secretary, all of Wallace. These will
Ramsay M. Walker. of Wallace an,
E. III. Knight and f. NJ. Rothrock, o
Spokane, constitute the board of di
rectors
IL is understood that the report o
the manager showed a surplus o,
hand of close to 100000 No divi
dend was declared, however, for tn
reason that it was regarded probabl
that the company was facing lonl
shutdown and it was therefore desir
able to retain large balance on hand