Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-09-18

Special to The Tribune. I
Butte, Sept. 17.-H. B. kingsbury,
manager of the Independence Lead
Mines company, exhibited samples of
ore this week which he said repre-
scented the best showing exposed in
the property, according to reports
from the press of Wallace, Idaho. In
driving the crosscuts northwest from
the main No. 3 crosscut to reach the
ore under No. 2 and No. /, a bunch
of ore was passed after running about
40 feet. This had the appearance of
a pocket or kidney, and it was passed
without further investigation. A few
days ago., however, it was decided to
go back and follow this ore. The
first round Of holes exposed an in
creased amount of ore, III Tuesday
evening about Is feet had been run,
with the result that there was about
five feet of ore in the face of the
same character al the sample men
toned which, Kingsbury estimated,
would run 20 per cent lead and about
10 ounces in silver. Charles f. Her
zig, mining engineer of New York,
who made a favorable report on In
dependence several months ago, is at
the property, also John MacGinnis,
former mayor of Butte, now a resi-
dent of New York, who is a large
stakeholder.
1t is becoming increasingly appar-
ent, both in official and unofficial
circles, that new methods of financing
common carriers must be worked out
If there is any general development
of the minerals OF the public lands,
which come under the general miner
ais leasing act. In the old days develop
ment in the west usually was brought
about by a group of men, or a group
of interests, who would build a rail-
road and at the same time develop
some of the natural along
its route. In some cases, the profit
would appear in the form of railroad
earnings, but more frequently it would
be manifested in the other activities
in which the owners were concerned.
This had the effect of creating a mo-
nopoly in the hands of those who con-
troll the transportation. When abuses
developed, laws were passed intended
20 prevent unfair domination by rail-
road companies. These ideas have
been carried into the leasing law and
under the limit of area prescribed, no
lessee controls enough oil, coal or
other mineral to justify him in financ-
ing a pipe line, a railroad or other
common carrier. The leasing act
provides that several ~lessees may join
to finance such a common carrier,
but as a practical matter ever a group
of ~lessees seldom have enough mon
ey to permit of such ar undertakings.
1t is impracticable to attempt to
transfer leases to moneyed persons
who might be interested in the trans
portation needed, because they could
not &c far on such a basis until they
would have direct or indirect interest
in several leases, according to a state
ment in the Engineering and Mining
Journal Press. In most regions the
tonnage prospect is not sufficient 20
attract capital interested solely in
transportation.
A special meeting of the stockhold,
ers of the Log Cabin Mining and
Milling company is called for DC
| tober 0, at Wallace, Idaho, for the
purpose of considering and taking &C
| ton upon a proposition to consoli-
| date with the Nine Mile company
The promoters of the two companie:
adjoin each other and the object OF