The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-05-20

SOl shares which he held to the time
of his death. He obtained 1879 from
Reed. 4O75 from Hammond, 16O51
from Kellogg, CPS from Mills and 257l
/ from Mrs. w. H. Crocker.
The shares acquired 10y Hammond
and Clement from kellogg formed
part of Kellogg's original holding of
SS.S7S shares. which Clement con-
tracted TO purchase on March 81
1890. and two-hfths of which he as
signed to George Croker Under the
terms of this purchase the shares
would have cost about 1921 apiece. A
sum equal to "A cents per share was
paid to Kellogg ut the time. the bal
ance being payable two years later.
with interest at per cent one can
not but note that kellogg got 8 per
cent on his deferred money. whereas
money at the time commanded as
much as 1 per cent per month Dur
ing the interval. before the kellogg
deal was contaminated. Clement was
free TO vote Kellogg's stock and re-
ceived the dividends paid upon it, but
he was under obligation to pay any
assessments that might be levied The
remainder of Kelloggs stock. SO26
shares. was not taken mp by Geor~e
Croker but by another member of
the CrocSer family In January
1891 Mills acquired 5Sf9 of O'Rourke $ |
shares. Cyrus II. Mccormick. of the |
American Harvester company be-
came shareholder i'm February. 1891 /
He still owns 1880 shares Simeon /
Reed sold his last shares ON .blre .. /
1888. They are worth now $50 apiece |
on July >. 1891 Reed was succeed /
ed as president by Hammond who /
was placed on the salary list at $500
per month on July 30 1892. or thir-
teen months after his election to the
Of the company He left
the United States for South AfricN
in 1898 and was succeeded by General
Harris on June IS of that year The
general retired four years later i'm IA
vor of Frederick w. Bradley. who
has continued in Office ever since Mr.
Bradley had been appointed assistant
in 1890 and manager in 1898
so that he wa 'smanager and presi-
lent concurrently for four years He
has been an officer of the company
'Or 80 years. The first manager Vic {
or Clement, left the mine to go to
south Africa with Mr. Hammond in
1893 having been manager for nearly ]
six years. He became manager of /
he Simmer & Jack mine at johann
lesburg and returned to the United ,
States in 1896, becoming associated I
With the late Capt. j. r. De Lamar,
me of the most notable of American :
nine operators In 1897 / met Glen T
mt at Kalgoorlie in Western Aus
ralia. He was most capable engi-
leer and a man of sterling character.
lie died at Saltilo, in Mexico on
april &C. 1908.
II. Fl. Webb was assistant to Gle
nent in 1889. G. X. Corning was
consulting engineer to the company |
or three years from 1898. Albert
surch was appointed assistant man |
.ger in 1901. After that he served as
engineer until June, 1906.
stanly A. EastOn followed Mr. Burch
is assistant manager i'm July, 1902. |
md became manager on January 1.
9OS He has been manager continu-
'usly since then, a period of II years
We have seen that in 1892 the Bun
Ter Hill enterprise was not looking
heerful the operating profit was
bout $25O.OOO per year, it is true
nut this revenue was insufficient to
'rovide for the necessary improve
nents as well as pay for the addi-
ional mining claims that had to be .
purchased. In the fall of 1892 Ham
nond wrote to Clement suggesting I
hat they had better get out and take
dvantage of the boom in South Afri-
an mining, because he anticipated
hat the earnings of the Bunker Hill
,ould all be absorbed by the change
D be made in the existing plant and
I the purchase of additional equip
lent So he sent Ernest Wiltsee to
.ondon as an advance agent and