The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-06-09
SEEK STEWART ORE BODY
COMPANY SUBMITS PLAN
HARRINGTON OUTLINES WORK
HEINZE HAD cONTEM-
PLATED.

Can the Stewart mine come back,
}. e. Harrington, president OF the
Stewart Mining company believes il
can, and it is probable that this opin-
ion is shared locally by men familiar
with the property. But it will take
money to prove it, and with that end
in view President Harrington is out
with a proposition to stockholders
which is designed 10 not only finance
the Stewart but also to relieve the
Nabob, controlled by the Stewart
from its financial embarrassment The
letter from the president describing
the situation and putting the hnan-
cial proposition up to the stockhold-
ers follows;
Heinze Had Faith.
Ever since the time the Stewart
mine was shut down, because the ore
in sight was exhausted. it has been
the intention of the management to
try and recover the vein in another
part of the property. The late +.
Aug. Heinze. who so successfully op-
Grated the Stewart mine for a num-
Der of year, stated that i'm his opin-
ion a large body OF ore would event
ually be uncovered by new develop
ment work in the company's prop
erty.
Recently Messrs Arthur r. and
Otto c. Heinze. brothers OF The late
+. Aug. Heinze approached the
Stewart Mining company with a view
to reopening the mine They feel
confident Of success i'm accomplishing
the results sought by their late bro
Their, with which they are fully ia
miliar and they have agreed to ac-
cept a part in the result of these OPP
erations in payment for their ser
vices and devote an the time neces-
sary TO direct this work with the
result anticipated the shares of the
Stewart Development company a new
company organized for this particu-
lar purpose, viii become very valu-
able Those who take advantage of
the offer made by the Stewart Mining
company to subscribe to these shares. /
under the plan enclosed herewith, viii
receive direct benefits which makes
the present offer very attractive i'm
view of the large possible profits
Duplicate Dividend Record.
Several engineers have given the /
opinion that it was a fault in the vein /
OF the old Stewart mine which caus- /
ed the ore to appear exhausted and if |
this is the case. the proposed new de /
velopment work should open mp the .
same body of ore at the point where
the fault is supposed TO have thrown /
IT, and there is no reason why there /
should not be as much ore taken ont /
of the property as ii has already pro
duced from which two million dol
lars in dividends were paid TO the
stockholders Besides these 6ossibil-
tiles there are other places on the
Of the mountain where work was pre-
riously done from which several car
Dads of ore have recently been ship
Ded Further prospecting i'm this di-
'ection may also open mp additional
Quantities of milling ore. other sim
lar mines I'm the Occur dAlene dis
riot have been developed to a much
lAeAtNA NNIAH AiAfAA AAif fNAFNNNtI z NNfI A-
ngs, and there is no reason why the !
stewart mine should not be found
ust as rich as the other mines i'm the
district at the same depth. D
Taking everything into considera- &
ION. the MANAGEMENT Of the Stewart /
lining company consider the pros j.
ects are very good for operating the e
property on a good paying basis and D
ope that the shareholders will take v
dvantage of the present offer TO par d
cipate i'm the success of the mine" D.
The Offer e
A separate letter is addressed to the a
in which the following o
fer is submitted:
Holders of the capital stock of the "
tewart Mining company registered n
S such on the books of the company s
the close of business on May ST. O
D21 are given the right 10y the pay 3
ent of five cents per share on or be- W
ne June 10, 1921 on their holdings g.
the Stewart Mining company to C,
ceive for each three shares Of their M
ewart holdings one share of Nabo0 if
lnsolidated Mining company stock. an
ir value 81, and one share OF Stew pc
t Development company stock, par re
Hue ST. both fully paid and non-as- NJ
ssable. or
1.-THE cash received by the Stewart 10y
ming company from this offer will th
used in paying its part of the cost ne
the development work i'm reopening Pa
e Stewart mine and also in rehn- TO
cling present obligations of the all
bob Consolidated Mining com cr
ny" We
w