The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-06-24
CALLAHAN IS OWNER
Of CH|CAGO-BOSTON
First Official Con-
firmation of the
Deal
TO PUSH DEVELOPMENT
Enterprise That VIII Probab-
ly Make Large Addition
to Productive Area

The Consolidated Interstate-C Gala
han Mining company now owns the
control of the Chicago Boston Mining
company Rumors that the company
would take over the option held by
John A Percival president, followed
the meeting of the directors here a
few weeks ago, and last week a report
came from New York that the deal
had been consummated. But not I'M
til last Tuesday, when Donald A.
Callahan, a director of the Interstate
e Callahan company arrived from New
York. where he attended a meeting
of the executive committee, was the
information officially confirmed. Mr..
Callahan stated that Mr. Percival had
exercised his option by paying for
the stock which gave him control of
the company and that the executive
committee, in conformity with the ac-
ton of the directors, had taken over
the entire holdings and thus trans
ferring the ownership of control of the
Chicago Boston company to the In
terstate- Callahan company. While
this action has been anticipated. it's
confirmation is nevertheless of the
greatest Importance. 1t means that
a strong and successful mining organ
izatiOn has entered a section of the
Occur d'Alene district that promises
to be as rich, productive and perman-
ent as those which have already made
this the greatest lead-silver district
in the world, while to the city of Wal
lace it probably means that a great
payroll will be established almost in
it's suburbs and the addition of many
homes.
c. w. Newton, manager of the In
terstate- Callahan, who has been di-
recting the work at the Chicago Bos-
ton since the option was taken by
Mr.. Percival, will continue in charge
of operations. When asked regarding
the plans under the new ownership
yesterday, Mr.. Newton stated that for
the present there would be no change
from the plans now being carried out
but that the policy of the company
would be to push development as rap
idly as possible. The 200 foot level has
been caught up and the drift is being
extended in an easterly direction.
There is a splendid showing of lead
silver ore on this level and the drift
is going forward in ore. In view of
the ore showings on the 100 level and
in the lower tunnel, the extension of
the drift on the 200 is expected to ex-
pose a large body of excellent ore. In
the meantime preparation is being
made to sink the shaft 200 feet fur
Their and the steady improvement in
the amount and grade of ore that has
characterized the showing as depth has
been gained may reasonably be ex-
pected to continue. A new compress /
sor has been installed and an electric |
pump will soon be in service, which /
will enable the company to handle the
water effectively and greatly facili- |
tate sinking operations. The station /
at the 200 will be enlarged before /
sinking begins
The big surface showing recently |
uncovered on the west side of the /
guich, to which reference was made /
in the last issue of the Miner, con-
tinues to be a subject of much inter-
est. It was first believed to be the /
Kill Buck vein which is supposed to /
be parallel to the Chicago Boston. The |
opinion is now advanced by some who 1
have been investigating the situation |
that it is not only the Kill Buck vein, |
hut the Chicago Boston also. That is
to say. the two veins are identical, the /
big fault that crosses Lake gulch .
having cut and displaced the vein on [
the south side, giving the appearance |
of two veins. However, definite in
formation regarding the relations of
the two will not be known until much
work has been done.
From the appearance of the vein
where it has been exposed by the
open cut together with the old Kill
Buck tunnel. it seems that the early
day miners knew the existence of the
vein: in fact, they seem to have con-
fined their work to a rich shoot in
the vein, leaving the lower grade ore
having no means of disposing of it.
II is understood that Mr.. Newton con-
templates driving a crosscut to ex-
plore the vein exposed in the open
cut and this work will determine
whether or not it is a continuation of
the Chicago Boston vein or an indie
pendent one In any event it rep
a large and valuable asset Of
the Chicago Boston company. j.