The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-03-25
REVIVAL IN MINING
IS DUE IN DISTRICT.
Beginning Indicated
by Two Big En-
terprises
HAVE AMPLE CAPITAL
Flynn-Black Bear and Chi
cago-Boston Being Devel-
oped Extensively
HAVE AMPLE CAPITAL


industry is recovering from the
effects of the war, referring par
ticularly to the operations of
development companies. Before the
United States entered the war
in all sections of the Occur
d'Alene district there was great
mining activity in the form of devel-
opment enterprises. Scores of stock
companies, financed by levying as
sessments. employing all the way
from three or four to 20 men and
sometimes more, were continuously
engaged in making new mines. These
enterprises in the aggregate employed
a large number of men whose wages
made a substantial addition to the
circulating medium, while the pur-
chase of supplies was an important
factor in the business of the various
towns of the district. The effect of
the war upon this class of mining
was soon evident. Some companies
suspended in order to release men to
give their attention to essential war
industries. The attraction of high
wages in the ship yards drew many
men from the mines, while the draft
took many more. In the meantime
the cost of mining steadily advanced,
all these elements together bringing
about a situation which in a great
measure placed the development COM
panies out of business. While the
war was on comparatively little at
tention was given to this condition
because we were occupied with a more
serious problem and until that was
settled and settled right, nothing else
mattered
Work Slow to Resume
THE expected revival in mining fol-
lowing the close of the war did not
materialize. This was partly due to
the depressed condition of the metal /,
market caused by the large surplus /
stocks of metal on hand for war pur-
poses and which We're suddenly fore
ed upon a peace market. But the chief |
reason that mining development did |
not take on renewed life, and which .
has prevailed up to the present time,
was the cost of mining operations,
making the burden too heavy to be
borne by the ordinary stockholders
and discouraging large investments in
mining enterprises. In spite of the
fact that these unfavorable conditions
still prevail, there is unmistakable
evidence in this district that capital is
turning to mining without waiting
longer for the hoped for reduction in
mining costs Within the last few
weeks at least two mining enterprises
have been started, both with abund
ant capital back of them and with
most favorable prospects of making
new mines.
Flynn and Black Bear.
One of these is the Black Bear, ,
which is under option to the Flynn c
Group Mining company. While no in 7
formation has been given out regard ,
ing the financial interests back of this =
enterprise IL is learned from a de- r
pendable source that some of the most p
prominent and successful mining OPP
orators in the west are in the deal
and that ample capital is available to
develop the Black Bear and explore I,
the Flynn ground, and if results are
successful to develop and equip the
combined property for large produc
ton. 1t is a matter of much satisfac-
ton that a combination of mining
men such as is believed to be back of =
this enterprise has entered this dis
trict and coming at this time it will :,
have a pronounced influence in at I
tracing other investments for devel
opment purposes. n
The Chicago Boston.
The other enterprise is the Chicago F
Boston, which is now in process Of s
development by John A. Percival, OF o
New York, president of the Inter e
callahan company His plans t.
for developing the property are on
large scale, and his success will not v
only mean the addition Of another v
mine to the district. but the proving Ii
of a large mineralized section and the b
probable discovery Of other mines. The b
operations at the Chicago Boston and Ii
at the Black Bear have already made e
a considerable addition to the pay 7
rolls Of the district, and the number "
of employees viii steadily increase as p