The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-02-13

~
~ mining property on Beaver
creek was accomplished last
week which places under one
management a group of twenty claims
lying on both sides of the creek and
covering at least three strong veins
and others of prospective value.
Through this consolidation the Sun
shine Mining company takes over the
holdings of the Sunset Banner Min
ing company, consisting of six claims,
and the Dewey group, consisting OF
| five claims which with the Sunshine
holdings makes a compact group Of
twenty claims. Negotiations have
been in progress for some time to ef-
feet this consolidation and at a meet
ing of the directors of the Sunshine
Mining company last week the trans
action was closed. Under the terms
OF the agreement the entire capital
ization Of the Sunset Banner company
will be exchanged for stock in the
Sunshine on a basis of four shares Of
Sunset Banner for one of Sunshine.
making the aggregate number OF
81 ares received by the former $4,000,
the capitalization being 100000
shares The Dewey group Is held by
Individual owners who receive stock
in the Sunshine for their interests, the
terms of which have not been made
Ipublic. Over half Of the Dewey group
was owned by officers Of the Sun
shine
Sunset Banner.
The Sunset Banner group Of claims
lies on the north side Of Beaver creek,
joining the Sunshine which extends
up the slope of Sunset Peak on the
south side, the two groups having COM
mon end lines practically in the bot
tom of the canyon. Five tunnels have
been driven on the property, four OF
them showing ore The fifth tunnel
has been run from near the creek level
and is now in about HOO feet. Its ex-
| tension to the vein promises to disclose
an ore body and will have depth
VI dDUul lUUU lccts 1iC ldSt Woih uNho
in this tunnel was a year or two ago.
when the property was under bond to
Jesse Coulter. The vein shows up
strong on the surface. The officers
of the Sunset banner company are
A. L. Honeker, president; d. L. Nc
Grath, vice president and Herman ].
Ross, secretary treasurer, all Of Wal
lace.
The Dewey group lies alongside the
Sunset Banner on the west and covers
a strong vein. upon which consider
able ore has been developed. The
owners of the Dewey are Peter Lor-
EMO, C. B. Ferguson, Henry Mcguire,
d. l.. McGrath, DR.. e. C. Ellis and
soula.
The Sunshine.
The acquisition of the Dewey and
Sunset Banner by the Sunshine COM
pany greatly enlarges the possibilities
for mineral development. The Sun
shine company greatly enlarges the
possibilities for mineral development.
shine holdings include the Tough
nut, upon which a fine body OF
lead zinc ore has been developed. A
lower tunnel near the Idora mill has
been started to tap this ore at depth.
work being suspended on account Of
unfavorable war conditions. The COM
pany has compressor and all neces-
sary equipment for development, and
this is easily accessible to the newly
acquired ground. In fact. power was
supplied by the sunshine company
for the last work on the Sunset Ban
ner. The Sunshine company has a
capital stock of 2,700,0O0 shares and
after taking over the two properties
mentioned in exchange for stock, the
company will still have upwards Of
1000, 900 shares in the treasury avail
able for development purposes. No
work is contemplated until mining
conditions are more favorable.
The officers and directors Of the
Sunshine company are d. L. McGrath,
president and manager; David c.
Smith, vice president; H. J. Hull. Sec
retary treasurer; E. r. Day. Jack
Lucas, r. L. McGrath and DR.. e. G.
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