The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-04-07
SETTLEMENT WITHMARSH
GOOD TURN FOR HECLA
WITH THREE GREAT VEINS, THE
HECLA HAS A WONDER
Full FUTURE.

fOliOMinB the settlement OF the
apex litigation with the Marsh COM
pany. involving the ownership of the
east VEIN" the following brief an
nouncement was mailed to Hecla
stockholders by l.. f. Hanley secre-
tary of the Hecla Mining company
under date of March 80:
IN our annual report for 1920 we
advised you that settlement of our
apex litigation had been made with
Federal Mining & Smelling company
and that negotiations were i'm pro-
gress between the Federal company
and Marsh Mines Consolidated for
settlement of the latter company's
claims against MS.
1--WE are now able to advise that
these negotiations have been con-
cmded. that the Marsh Mines Consol-
dated have delivered to us a release
or all claims and a cancellation of
their lease Of the O'Nen. Mono Frac-
ton and Russell lode mining claims.
and that the litigation has been end
led without further payment of any
sum other than our obligation to the
Federal company which has been
paid in fun"
The amount paid to the Federal
Mining & Smelling company by the
Hacla was $3.50 600, and for this sum
Hecla receives title TO the O'NeiL
Mono Fraction and Russell claims.
which were under lease TO Marsh. the
TIGER Poorman group. including a
valuable power plant and water right
release from all claims for damages
for trespass ON the part of the Fed
cial. and finally an assignment Of the
Marsh lease together with release
from all claims under the pending
suit on the part of the Marsh com
pany
Payment Of three quarters Of a
million dollars is a heavy assessment
TO which must also be added the ex-
pense of retaining attorneys. engin-
GERS biologists and perhaps other
SPECIALISTS in mining litigation But
when the uncertainty Of apex ltga-
ton is considered the accumulatinr
expense the long time necessarily
consumed i'm reaching a final decision
md then the tremendous value TO the
Tecla i'm having unouostioned title TO
he "east vein" to say nothing Of the
possibilities of ore development i'm
he Tiger Poorman ground. il must
20 conceded that Hecla made a good
urn when it made q settlement with
he Federal which MS it turned our
included a settlement with Marsh al
go. Hecla has a wonderful future
Nth three great veins. either one of
which is a mine itself The original
Iecla vein, at a shaft depth of 1000
eet. shows a greater and richer ore
,ody than ever before The least
elm" which has never been touched
,elow the 900 level and above which
little ore has been re-
moved. is so far not as large as the +
original vein. is richer i'm silver and /
s an asset Of vast value to the com
amy. The Oreornogo vein. which i'm
he upper workings was an import /
mt zinc producer has never been de /
-eloped below the creek level. and the /
in the amount Of zinc as
epth was Rained indicates that lead /
liver win soon supersede the zinc.
large vein and we feel reasonably .
ssured of cutting our main vein .
within the next 200 feet The tunnel .
as now been advanced a total of /
600 feet"
The Pearson company has system
tized its work so that each depart /
oent is under a responsible head /
larry Pearson is general manager. He /
ranges the finances and has gen
raj supervision of the company's af- |
airs. Norris Pearson is president of ,
he company and superintendent of /
Dining operations. John F. Ferguson. /
qualified accountant is secretary /
nd treasurer Of the company.