The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-04-15

X O-AlNfil-NAfo, VINO mas udu
charge of development opera
lions at the National, went TO
Spokane yesterday to confer
with August Paulsen, president of the
National company. in regard to the
future plans respecting the property.
All work was suspended at the prop
erty last week. Speaking of work at
the National, Mr.. Catchings stated
that he had accomplished the work
laid out by the management, consist
ing Of two crosscuts to the north.
without finding any new ore bodies.
and in the absence Of instructions to
the contrary had suspended opera
tons. He regarded it possible that
other prospecting work might be un-
dertaken, but was unable to give any
information on this point until he had
conferred with Mr.. Paulsen. After
paying all expenses Of the work just
completed, it is understood that the
National still has upwards of $4,000
in the treasury. The expense Of
maintaining the property is now re-
duced to the wages Of watchmen at
the mine and mill and insurance.
Valuable Assets.
Should all efforts to find profit
able ore body in the National be aban-
doned, as now seems probable. the
disposition of the mill, mine equip
ment, water right and other assets is
a matter of first Importance to the
stockholders. The mill has q capac-
ity of 600 tons, and is modern and
complete plant in every respect. The
tramway, electric motors, compressor,
machine shop. tools. ore cars, trolley
cars, hoist and various other equip
ment necessary for large mining OPP
erations represent a large investment
and tangible assets that could be
quickly converted into cash at a fig
ure far above that represented by the
present market value Of National
stock. In addition to these the com
pany owns a water right of great
value on Deadman gulch.
Talk of Consolidation.
In addition to these assets, the Ma
tional also occupies a strategic posi-
L4Nm Will reference 10 duIdttLL DlOU-
erty which might be turned to ad-
vantage and save stockholders from
impending loss. These properties are
the Missoula Copper Independent and
Copper King, all located above the
National and capable Of being devel-
oped at great depth from the Ma
tional workings. With the exception
have long been idle and there is no
indication of a resumption of activity
while the present high mining costs
prevail. Mssoula Copper has "a most
encouraging showing of low grade
copper ore. while the last work on the
Independent disclosed not only cop
per. but a highly promising showing
Of lead-silver ore. Further develop
ment of these properties independent
ly and equipplng them with mining
facilities would involve an enormous
expenditure, quite prohibitive under
present conditions. Copper King has
a large body of low grade lead-silver
ore, also some copper and zinc, and
the company has for some time had
under consideration the construction
Of a mill. The situation of these pro-
perties with reference to the National
the difficulties they have to contend
with in prosecuting Independent de-
and the excessive cost of
providing milling facilities should that
become necessary, suggests at once
the feasibility Of combining with the
National, the workings of which pre-
sent quick and economical means Of
deep development. all the mining
on hand for carrying on
the work expeditiously and mill in
to treat the ore without de-
lay or further expense.
A Big Proposition.
The consolidation Of any or all OF
the properties here mentioned has
never been considered by any of the
companies involved so far as the
Miner is advised, but it has been dis
cussed by individual stockholders, and
since the National seems
to have reached the point Of abandon
ing the search for commercial ore in
its own ground. The ground covered
by these groups of claims possesses
great possibilities in mineral develop
ment and the proposition to CONSOLE
date them into one big organization
is worthy of serious consideration.