The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-05-04
BUNKER HILL WILL
OPERATE BIG CREEK
DEALFORMALLYCLOSED
Pay All Obligations and Fur
Their Develop--Statement
G. Scott Anderson

"HE Bunker Hnl 4 Sullivan Min
ing & Concentrating company
viii take over the operation and
further development of the Big
Greek mine. Rumors that deal was
pending between the Big Creek Mining
company and the Bunker Hin & Sulli-
van company have been heard for the
past week or two. but it was not until
yesterday that these rumors were con-
firmed and the nature of the deal was
made public. Almost two months ago
engineers and biologists for the Bun
ker Hill & Sullivan company made a
thorough examination of the Big Creek
mine, and that the result of the exam
nation was satisfactory is indicated by
the successful conclusion of the nego-
tiations between the two companies
The deal was actually closed last week
in San Francisco. where the final CON
! ference was held between Fred w
Bradley, president of the Bunker Hin
4 Sullivan and G.. Scott Anderson.
president and manager of Big Creek.
together with Judge A. II. Feather
stone and Irving Anderson. Big Greek
directors The final act in this i'm
portant transaction took place yester-
day afternoon, when the directors OF
the Big Creek company met in this city
and formally ratified the agreement.
Reminding him that the contamination
of this deal is a matter of great inter
est to the people of the district, the
Miner asked G. Scott Anderson for in
formation regarding the deal and in
response received the following au-
thorized statement:
Mr.. Anderson's Statement.
yes. / suppose, as you suggest the
general public is concerned in all mat
ters relating to mining, and it is but
natural that deal such as has been
consumated between the Big Creek
Mining company and the Bunker Hill
& Sullivan Mining & Concentrating
company is a matter of general interest
and importance to the business men of
the community The transaction is a
legitimate one, and as neither party to
il has done anything which will not
appear as a matte~ of public record,
will be pleased to give you a general
line of our negotiations and its pur-
pose.
THE Big Creek company has been
developing it's group of claims fof the
past twenty years. during which time
we have expended over 100000. We
have projected four long crosscut tun-
ncls and have done extensive pros
pecting throughout the workings since
acquiring the property. We have dem
onstrated it to be a property of unusual
merit, the possibilities of which are
attractive.
During the process Of operations we
have disclosed some wonderful ore
bodies, all containing high silver val
ues and a strength of continuity that
is gratifying The mine has produced
thousands of tons of high grade ore
and has proven the existence of nu-
merous valuable ore deposits, the most
important disclosure being found in
the lowest workings of the mine, some
1900 feet below the surface, which
yields high values in lead and silver.
1.-THE management has been seriously
hampered throughout this entire period
of development by not having the nee
essary capital to develop these, ore de-
posts The development of the prop
erty was well planned and it's opera
tions have been carried forward sys-
tematically to achieve the results de-
4 N.I
dustrial conditions brought about by
the war. with the high price of mate
rial and supplies, the excessive cost of
labor and its inefficiency together
with our determination to continue our
extensive development has brought
about a serious condition of indebted
ness. The management has been en-
deavoring to conceive of some plan
that would relieve this embarrassment
and at the same time provide the CAPT
tai to enter into extensive develop
ment of the mine and place Big Creek
in the class of big business enterprises.
Negotiations to this end were en-
tered into with the Bunker Hill COM
pany. This company having a smelter
naturally requires ore. and we having
a mine which was producing a product
which they required, suggested some
arrangement that would be of mutual
benefit. The result of these negOtia-
tions has brought about an arrange
ment whereby the Bunker Hill COM
pany will take over the absolute con-
troll of the operations of the mine, as
Stunning all the indebtedness now ex-
isting and agreeing to proceed actively
with the development of the mine.
In other words. the Bunker Hill
company. after making a careful and