The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-07-10
SUNSHINE AND SUNSET
BANNER ARE MERGED
DEWEY GROUP ALSO INCLUDED
-WILL cRoSSCUT FROM
OLD HILL TUNNEL.

The final step in the absorption of
the Sunset Banner Mining company
by the Sunshine Mining company was
taken this week when Herman j..
in the Sunset Banner and acting as
trustee for the company, mailed the
stockholders certificates of stock in
the Sunshine Mining company in pur-
suance of the agreement entered into
last February under the terms of
which the Sunset Banner owners re-
ceive one share of stock in the Sun
Shine company In exchange for four
shares of Sunset Banner The Sun
set Banner was capitalized for 1,500,-
600 shares, of which l,052,205 were
issued, leaving 447,795 in the treasury,
The exchange included the entire cap
ital stock of the Sunset Banner which
gives the stockholders $4,000 shares
in the Sunshine company distributed
in proportion to their original hold
ings. The acquisition of the Sunset
Banner makes an important addition
to the holdings Of the Sunshine Min
ing company The property lies on
the north slope of Beaver creek, join
ing the Sunshine practically in the
bottom of the canyon. The group con-
ssts of six claims covering at least
three veins and is developed by five
tunnels, all of which show more or
or less ore. The lower tunnel is In
100 feet and is easily accessible to
the Sunshine compressor. The Off
GERS of the Sunset Banner are A. l.
Honeker, president; ID. L. McGrath
vice president, and II. ]. Rossi, secre-
tary- treasurer.
Sunshine Soon to Start.
Although no definite announcement
has been made, it may be stated that
the management of the Sunshine
company contemplates resuming de-
velopment work at an early date. A
crosscut has been started near the
Idora MILL but it is probable that this
Will ne anu liC "oIh tioh
ferred to the old Hill tunnel. a short
distance up the creek, which presents
an opportunity to get results more
quickly. The right to use this tun-
mel was secured several months ago
for the Sunshine company by ID. L.
McGrath, who went back to st. Paul
for the purpose. The extension of this
tunnel is an enterprise of very great
importance, as it will not only cut the
great veins known to cross the Sun
shine ground, but it will afford a pos
sble outlet for that large and rich
mineral area on the north slope OF
Sunset peak from the Sunset mine
down.
Dewey Group.
At the same time an agreement was
reached to take over the Sunset Ban
ner, the Sunshine company also made
A similar deal with the owners of the
Dewey group, joining the Sunset Ban,
yer on the west. This consists of five
claims upon which considerable ore
has been developed and is a property
of great promise. The owners of the
Dewey were Peter Lorenzo, c. B. Fer.
guson, Henry Mcclure, d. L. Nc
Grath, Dr. E. G. Ellis and David c
Smith. With these additions the Sun
shine company now owns 20 claims
covering ground of great proved valu'
and having tremendous possibilities o
minera production.
The officers and directors of thu
Sunshine Mining company are d. /
McGrath, Of Wallace, president; Davi'
C. Smith, of Missoula, vice president
H. ]. Hull, Of Wallace, secretary
treasurer. Other directors are f. r
Day, Jack Lucas and r. L. McGrath
all Of Wallace and Dr. f. G. Ellis, o
| Missoula.