The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-05-12
PROFITS Of MINES
FOR 1920, 100000
Bunker Hill Earns
Over Two and a
Half Million
METAL PRICES BETTER
Outlook More Favorable for
the Last Half of Year
Leasing Profits

THE NET profit Of the Bunker
Hill & Sullivan Mining & Con-
centrating company for the year
1920 was $2.593,O S917, as shown
by the statement which reached the
assessors Office last Monday The
details of the statement follow: Tons
extracted, 400. $50; gross value, &c.
915,140.76; cost of extraction. si.707-
G6765 freight and treatment $685.
1GL49; betterments and repairs, mine
$254,S19.75; smelter S1O1. l26.43; total,
SS55.4461S: net profit, S259S,OS917.
The net profit figures include $685.
22G.74 received in royalties from leas-
| ing operations.
Six and Half Million.
The addition of the Bunker Hill &.
Sullivan profits to the total published
last week brings the grand total net
profits for the mines of the district
up to $6,31S, $500. AS a matter of
fact, it may be safely estimated that
including the profits of leasers the
total for the year is not less than &c.
100000. Both in the vicinity of Ward
ner and on Canyon creek leasing has
become an important and profitable
branch of mining operations but the
results do not show up in the annual
statements except to the extent of
the royalties received by the COM
panies owning the ground While
the profits last year were not large
compared with those for the years
when metal prices were booming,
the showing is nevertheless very sat
isfactory considering the high costs
of mining during the year. being
practically the same as during the
war The record is double that Of
1919.
Slump in 1921.
1t is now evident that the net pro-
fit figures for this year viii be far
below those of 1920. and may posi-
bly, establish a new low record. This
lis due to the steady decline in the
prices of lead and zinc which started
in the closing months of last year,
and which. coupled with excessive
freight rates and other high costs,
forced the Callahan and Hunter to
shut down. On January 1 a reduc-
ton of 81 per day was made in
wages as a means of continuing op-
erations, but this was not sufficient
to keep the Day mines in profitable
operation and the Hercules and Tam
arack closed down the latter part of
March. Since that date only three of
the large producers have been in OPP
GRAFTON, the Morning Hecla and the
i
est level in March, when the average
price for the month was 1854 cents
per pound. In April the price took
an upward turn and the average for
The month was 1856 cents. Since the
first of this month the price has fur
Their advanced and is now cents.
Conditions Getting Better.
From the standpoint of net profits,
it is plain that the record will be low
his year but it is also reasonably
certain that the last half Of the year
will show great Improvement over
The first In fact the increased de-
nand for lead and zinc ana the con-
sequent advance in prices are believ-
ed to be the beginning of a perman-
ent movement, and that during the
last half of the year the metals viii
have reached a normal price, that
mining costs will have been CORES
reduced to normal and
with that condition fair and perman-
emf profits in mining will be insured.
This viii mean a resumption of OPP
aratiOns by all producing mines and
a revival of development work that
will bring prosperity to the district
and bring in new mines.