Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-10-02

value in white metal. No development
work is being done on other claims
in the district, although there is great
expectation that the Cruise CONSOLE
dated will 500 begin the building of
a mill.
The mill is to be placed on Helena
mine. which is well developed with a
5OO-foot shaft, and drifts and levels
have been run. The showing is very
James j. Cruise, president and manager
of the Helena, Rock Rose and LOBBY
is in the east in the interests of the
Cruise Consolidated and is due to arrive
in Helena in a short time. His re-
turn to Helena will probably mean
that work will commence on the mill
ing project.
The ore disclosed in the working re-
uuires concentration to insure the best
results, and the development fully war
rants the construction of q mill. The
Lester Lyle property in the Austin
district is being mined by leasers.
They have opened up and re-timbered
an old tunnel from which about 10000
worth of ore was mined several years
ago. The ore is IN iron pyrites and
the lead is well. defined. 1t is an old
prospect which was located more than
80 years ago. The leasers are expert
enced miners and expect TO ship their
output to the East Helena smelter.
In the northern part of the district,
Badly Smith and associates are de-
veloping what appears to be a promis-
ing gold property. The ore pans"
free gold. and assays run as high as
$50 gold to the ton. The property is
in the Skelly gulch section, west of
the old Jeff Davis gulch, which was a
good producer of placer gold in years
gone by. On Paymaster hill, in the
same section, patents have been Sc
cured on several gold bearing claims
by w. +. Scallon, Will Word and u. T..
Vinson. Paymaster hill has every APP
pearance of being one of the biggest
low-grade gold properties in Montana.
A mill is needed to recover the values
from the ore, and this is expected to
be constructed in the near future.
The Belle Mining company has filed
articles of Incorporation here to con-
duct a general mining business. The
life of the company is 40 years, capital
stock S1,O00,000 divided into shares of
81 each, and the directors are John j.
Kelly of Wilsall. G. Fl. Randall and
Albert L. L. Smith of Billings. The
principal office of the company will be
in Butte.
The mining world is eagerly await
ing the report of X. NJ. Atwater. Jr.
of the firm of Ladenburg, Thalman &
Co. of New York. who is making an
extensive inspection and examination
of the Elkhorn properties of the Bos-
ton & Montana Development company
According to local mining engineers.
Atwater's report is to be made public
Atwater is a brother of the late Max
W. Atwater, who was for years gen
eral manager of the Butte & Superior
and who later was extensively engaged
in milling at Basin. w. r. Allen, pres
ident of the B. & NJ. and other off
Gals OF the company are at Elkhorn.
The Producers and Refiners com
pany for the six months ending June
80, 1922, reports a net operating rev.
enue of $1.914,747 after deducting al
charges, including interest, deprecia-
ton, depletion and taxes. and after
preferred dividends for the period, the
surplus available for the common stock
was S1,119.309 at the annual rate of
about II per cent on the outstanding
common.
Development of the Lookout Noun
tain. on Pine creek, is progressing with
most satisfactory results, according TO
information obtained from r. l.. Brain
erd, president, and W. l.. Penney. sec
rotary of the Wallace Miner. Since
sinking the shaft from the main tun-
mel SIS feet. a drift has been run west
81 feet. all in ore of shipping grade
most of it g%aIena. with some csrbo-
nate orc similar to that found above