Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-10-12

quartzite, it is believed in some quar-
tiers that the ratio of lead to zinc will
change to an extent that will warrant
the classification of the property as a
lead mine.
In addition to the body undergoing
development, the Constitution has a
parallel shoot 300 feet distant which
it is believed, will also be found in the
zone of the quartzite. The depth at
tanned at the face of the drift in 1000
feet by estimate and will be increased
as the drift advances.
A contract has been entered into
by the Richmond Mining, Milling &
Reduction Co, and the Montana-Idaho
Copper company, wherein they will
share equally the cost of advancing a
eross-cut in Montana Idaho ground in
the direction of the Richmond, accord
ing to W. J.. Kirby, secretary of the
Montana Idaho. This disposes of an
earlier contract for the same purpose.
Cross-cutting has been resumed and
is proceeding on a two shift basis at
the rate of four feet a shift. 1t has
proceeded Y feet of the 1,40O feet, at
the end of which it will reach a point
under the Richmond shaft. The depth
attained in the shaft is about 800 feet
and the quantity of ore removed is up
ward of S5OO.OOO. The crosscut will
attain a depth of 1900 feet under the
shaft and 1900 feet under the surface.
A speeding of the cross-cut is en-
couraged by the recent discovery Of
high grade ore reported to have been
made at a point on the Montana
Idaho, LOO feet under the workings
of it's 7O0-foot shaft. The streak is
not large and lies in a body of milling
grade but its characteristics are said
to be favorable to expansion.
The Richmond company is hurrylng
along a drift on the st. Lawrence
level at a depth of 500 feet. 1t has
followed ore Of a shipping grade from
the st. Lawrence mine and lacks $50
feet Of being at the Richmond shaft,
according to an official. If the ore is
continuous a body of important length
will be available for stopping. Ship
time after the connection of drift and
shaft. The tramway connecting the
mine with the railroad at Avery, Ida,
was overhauled recently and placed in
operation for a day to prove its eff
ficiency.
The suit of Lawrence Monzetti and
others against the Crystal Copper
Mining company was declared a mis-
trial BY Judge Carroll Monday. The
plaintiffs asked for SIT 800, alleged to
be due on a breach of an alleged lease
and $3.50 on a stock contract agree
ment. Attorneys Walker and Walker
and Charles s. Wagner, representing
the copper company, proved to the
court that the men were not working
on a lease as such ar agreement could
not be given without a vote of two
thirds of the stockholders. The court
agreed and it was shown that no such
action had been taken by the company.
The attorneys representing the
plaintiffs then asked leave to amnd
their complaint under the license act
which was passed a few years ago. The
defense pleaded surprise and the court
then allowed the amendment providing
it did not change the original cause of
action In excusing the jury the court
remarked that the case had resulted IN
a mistrial. The defendant company was
allowed 20 days TO file an answer after
the amended complaint is filed.
The plaintiffs alleged that they took
a lease or contract on a level of the
Goldsmith mine, and after they discov-
cred Vall3Dle ore, the COilpdHf Gun
celIed the lease. They want the
amounts above asked as damages on
what they claim might have resulted
had they been permitted to work out
their original agreement.
Negotiations continue on the pro-
nosed consolidation of the Utah. Kenne-
colt. Chile Copper and Mother Lode
Coalition according to New York ad-
vices. The latter stock is being quietly
absorbed by the kennecott, which is
expected to announce the resumption
of dividends very soon.
According to report made TO the New
York stock exchange. the Callahan
Zinc-Lead had S303.467 in cash. S2,465
in accounts receivable. S61. 965 in loans
and accrued interest receivable. 1922
in milling ore on hand. S55,1T5 in
supplies on hand. S503.S42 invested in
other properties. S1037 in deferred
charges and S5.O41 $50 in property ac-
count on July 81. The total valuation
placed on these assets is S5.910.542.
The liabilities include S3,425 in
wages payable. S 5.106 in accounts pay
able. S2,170 in accrued state tax 500
1851 in reserve for depreciation. $1,000
363 in capital stock surplus. S3I6.3S2-
in deficit from operations and $1,000