The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-07-21
TARBOX STOCKHOLDERS
HOLD ANNUAL MEETING
REPORT OF PRESIDENT RE-
VIEWS COMPANY AFFAIRS
THE PAST YEAR.

] The annual meeting of stockholders
of the TarboN Mining company held
Monday was without an incident
TO mar the harmony of the gathering.
There was "a large representation of
stock both in person and by proxy.
OF the outstanding capital stock.
amounting to about 100000 shares.
over 100000 shares were represent
ed. Reports of President Richard
Daxon and Secretary Treasurer John
r. Ferguson were read and approved
and the affairs of the company were
generally discussed All development
work was suspended at the mine on
March 49, only two men being retain
ed to keep the mine unwatered and
maintain the property in good shape
The condition at the mine and the
affairs of the company are discussed
in considerable detail by President
Daxon in his report which follows:
Presidents Report.
During the past year considerable
development has been
done with fairly good results. I'm
derground operations were resumed
at the property October Is. Three
hundred feet of a drift on the 500
level was regarded. retimbered and
put in first class condition. The drift
was extended 300 feet along the foot
wall of the vein in a solid Burke
quartzite formation. Suingers of
good milling ore were being continu-
ously cut, Indicating the presence of
an ore shoot to the southeast. A
short crosscut was run which show
ed strong naturalization but was not
extended far enough to intersect the /
ore shoot or prospect the vein which
is probably 100 feet wide at this point /
Owing to prevailing poor business /
conditions throughout the country
and the high cost of labor and mine
supplies. all underground operations
were suspended on March Is last, on
~ two men being employed in keep |
ing the mine unwatered and also
keeping a supply of wood ON hand, /
for the boiler as we'll as looking af- /
ter the underground workings of the
mine This is a matter which we
must not ignore as the formation, |
the upper levels is COM
posed of a soft limey character and
il the mine were allowed to become
and if later unwatered /
md the workings exposed to the air /
he ground would swell the timbers
and all our expenditures /
would be sacrificed.
"The Wine. or 1000 level owing to I
being short of power was allowed to |
i'll up last fall. but before pulling the .
pumps every precaution was taken /
o protect the workings. The sets
we're sprayed or braced and every
hing made as secure as possible.
When unwatered it will require some
ttention such as releasing the tim
iers and watching it closely for
ime. However. the ground on this
evel is of more solid, or of a much
arder character than on the upper
avels and we do not anticipate much n
.ficulty if proper attention is given 4
our plant is in good condition
18th the exception of being short of
over the state boiler inspector hav
lg condemned our largest boiler last
all. leaving us with only a S5-horse
over boiler to meet all our require
rents, a condition which has badly. ,
andicapped our efforts in carrying r
n the development work last fall and 6
inter. 7
I'VE secured an option on 25- S
4 interest in the Meadow Mountain 7
aim last fall on a basis of $4,000 for s
he property, the option running for +
40 and half years on payments il
f 10 per cent falling due quarterly O
his property lies 1900 feet east of e
Ir shaft and on the same vein. Fl
lowing to the unsettled condition
business affairs throughout the
'untry I would not favor resump-
on of operations at the property
ntil such time as business condi-
ons improve and there is a general
,vivaI in the mining industry"
Election Of Officers.
The following directors were elect p
1. Richard Daxon. A. H. Fox and T.
rank J. Davey, of Wallace; w w. s
dams, of Saltese. and John A. Lewis, b
I Taft The directors organized by t
he election Of the following officers: n
ichard Daxon, president and mana f.
sr:>A. II. Fox. vice president and s
ohn F. Ferguson. secretary treas s
rer. a
Pattison Here. e