The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-04-07

~ We tNAANAA ~ nhElAe AAAtH NNAlAeNAANti
and therefore the market price for
domestic silver will be stabilized at
81 an ounce during this period
Dividends.
During the past year your COM
pany has paid 81 per share in divi-
dends, which brings the total divi-
dend disbursements of your COM
nany to date to SIPS per share. or a
total disbursement of S77216SS.75
since the companys inception This
is an average Of approximately $40
per share per year since dividends
were inaugurated i'm 1915. and is
equivalent TO return of about 27 per
cent per annum on the par value of
our shares"
Managers Report.
The report of Manager c. w. New
ton covers the operations of the COM
pany in much detail leaving nothing
TO be desired by stockholders i'm the
way of information regarding com
pany affairs The principal develop
ment during the year was the extern
sion of the main shaft 200 feet and
opening mp no 10 level 1850 feet be
low No. I tunnel level Total amount
of development accomplished during
year. including shaft. crosscuts. drifts
raise. etc, was 1888 feet and 10000
cubic feet were moved i'm cutting the
shaft station Total tons of ore min
ed during the year 1880. The mill
feed averaged better than 1919 per
cent zinc. 6Is per cent lead and 2is
ounces silver.
THE ore i'm the original Callahan
vein" says Mr. Newton. "is showing
high iead and silver values on the
upper levels In the early days Mr.
James F. Callahan the original own
en- mined and shipped carload lots of
high grade lead-silver ore from this
vein. assaying ~ per cent lead and
- ounces of silver TO the tom
Ore Reserves.
Continuing Manager Newton says:
Every little was added to our ore
reserves during the period covered by
this report due to the limited amount
OF development work we were able
to do, because of the very great
scarcity and inemciency of mine la
Dor. A conservative estimate of our
actual ore reserves of a grade that
will furnish the mill an average feed
of 121s per cent zinc or better with
the usual 61s per cent lead content
and 21A ounces of silver is about
10000 tons which does not include d
ore contained in our outside or con-
scribed hereafter
There is also certain tonnage of
low grade ore which is not included
in the above estimate as well as
probable ore that we expect to prove
M as our development work pro-
sresses. We are now pushing devel-
)rment work as rapidly as possible.
or the purpose of adding substan-
rally to our proven ore reserves"
Outside Properties.
Manager Newton refers briefly to
he several properties owned or CON
rolled by the company outside Of the
'allahan proper The Virginia claim
lpon which tunnels aggregating $50
Get have been run, has from two to
hree feet of good zinc ore near the
'ortal Of No 1. q
The Nipsic. joining the Callahan on 81
he north. seven claims, with vein
high grade lead-silver and
inc ore, ranging from Is to 30 inches o
vide and 100 feet in length. S
The Blue Grouse consists of pat r
nted claims developed by 1900 feet n
# tunnel Two veins only one of C
.hich has been explored and which Ii
hows lead-silver ore and some zinc. i'
The Silver state has several pat 81
nted claims with limited develop p
lent Has a large stand of timber S
'hch is a valuable asset.
Chicago Boston. on Lake gulch
onsisting of two patented claims and ST
I unpatented. ore developed in the w
,wer tunnel and on 100 and 200 shaft b
wells Now being developed on 400 o.
Kill Buck patented claims join 81
ne the Chicago Boston. Strong vein NJ
Nposed by numerous tunnels. High Il
rade lead-silver shipped years ago. al
Milling Operations. It
Commenting on the improved work OF
+ the mill both in grade Of concen- u
'ates and recovery Manager New 90
IN says: Il
During the month of October, pri- I'll
r. to closing down our zinc ship oi
tents averaged 1913 per cent zinc,
18th 2.7 per cent lead content The
ad shipments averaged SIS per cent Ia
ad and 2OS ounces of silver The cl
,tal lead tonnage shipped for the 10
,me month was slightly better than I'll
le third OF the total output for the ha
onth. ~
Before resuming our mill opera ti'
ons we expect to add several new er
citation machines to our selective or
nit so that with Il few other minor th
langes we hope to be able to make fl'
lr entire lead product in the flota- of
on plant, the same as we are doing rs
ith zinc. In doing this we expect to tn
now a substantial saving in labor II