Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1919-01-28
EARN LARGE
ROYALTIES
KLOCKMANN BROS. EARN LARGE
SUM FOR STOCKHOLDERS OF
MINING COMPANY
PROPERTY IS WELL DEVELOPED
Ore Body Has Proven Continuity of
1850 Feet

The IdahO-Continenta Company,
owner of a lead-silver mine at KlOck-
mann, has earned 1922, 233.00 from
the operation of its property by Klock-
mann Bros, lessees, in a little more
than 2b years, according to letter
to the stockholders of the company,
which was recently issued and which
was published by the Boomers Ferry
Herald.
These earnings include $173,2
credited to the company in royalties,
$15,949 paid to the bond holders on
the old Indebtedness and about $33, 900
due the company and bond holders in
royalties on 1868 tons of ore on hand,
but not shipped to the smelter. OF
the total, $144,S4S was earned in one
year.
The lessees expended $24S,699 on
permanent Improvements and were
credited with this sum on the royalty
account The expenditures included
$S,114 for corporation expenses, $2236,
engineering; $2553, taxes; $1,000 liza
bility insurance and improvements;
$9698, fire insurance and protection;
$47S, railroad structures and loading
equipment; $2975 Kootenai river eros
sing; $19,213, wagon road, mine to
Porthill; $3S69 roadway buildings and
barns; $3147, hydro electric plant;
$1S,214, water supply system; $43,59S,
mine plant; $1S,939, general building
improvements; $2712, telephone con-
struction and $5193, camp equipment
The lease of Hickman Bros. was
taken after the destruction of the con-
centrating mill by fire about three
years ago and before the necessary
road improvements had been made and
equipment installed. The company
was heavily in debt for the construc-
ton of the plant and was unable to
provide means for reconstruction, ow-
ing in part to the mine lacking a suf-
ficient development to warrant out
siders giving financial aid, says the re-
port of the board. Under these con-
ditions and handicap, Klockmann Bros
heavy stockholders in the company,
undertook the reconstruction and fl
nancing.
The production by the lessees was as
follows: May l to December 81, 1916,
1875 tons January l to December 81,
1917, 1858 tons: January 1 to Deem
Der 81, 1918, 5445 tons, a total of 49,
$40 tons of concentrated ore of which
1868 tons were on hand at the end of
1918. The mill was operated $50
days of "a hours out of 1872 days of
possible operation.
Not dollar in profit has been drawn
by the lessees todate. They have
operated at heavy loss since the drop
in lead There is no truth in the re-
port, however, that the mine will not
continue to operate and no such an
nouncement has been made by Presi-
dent Hickman who is now east in
the interests of the company. Defi-
ME announcement of the future devel-
opment work will be made on Mr..
Klockmann's return and he expects to
start home tomorrow.
The lessees have proved the contin-
uity of the ore body for 1850 feet.
The known ore reserve a year ago was
149 900 tons of milling ore as compared
with 100000 tons at the end of this
year after shipments had been made.
This shows that the resources can be
increased to a point that will enable
us to finance a narrow gauge rail
road, needed to cut transportation
costs" says the report. "The saving
in this item alone, not borne by prop
critics in the Occur Alene region
would create handsome dividend"
THE tramway across the river,
erected by the Riblet company of
Spokane. was completed recently and
the movement of ore is to begin in
a short time" stated Richard Schacht,
treasurer of the Idaho-Continental
company recently, in Spokane.