The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-06-08

Union Mining company will be
moved from Spokane to Wal
lace.
The two leases which expire on
August 1 will not be renewed.
Stock representing control of the
company will be pooled as safeguard
against control passing into other
hands.
Push work in No. tunnel over the
Kron-Johnson lease, from which raise
will be made to tunnel level.
Extend east drift to explore ground
under ore showing in old Aurora
Sampson workings.
These were the outstanding features
of the annual meeting of stockholders
of the Western Union Mining COM
pany in the Samuels hotel last Mon
day The meeting was the largest
ever held by the company both from
the standpoint of stock represented
and the number of stockholders pres
ent. evidencing a lively interest in the
affairs of the company and an appre-
citation of the great value of the prop
erty. which it may now safely be
stated
manent production. There were about
40 outside stockholders present and
they represented 1,522,S45 shares out
of the total of 100000 issued. The
affairs of the company were freely
discussed from every angle and there
was apparent throughout the meeting
a spirit of harmony and cooperation
The sentiment OF the meeting found
expression in much satisfaction with
the condition of the mine and the
work of the management in placing
it on a productive basis The outside
stockholders were mainly men who
had long pinned their faith to the
Western Union and through whose
LOYALTY it had finally achieved success
Having borne the brunt of battle, they
were not disposed to passively leave
an opening for others to reap the
fruits of their long and at times dis
heartening efforts. 1t was this feeling
that prompted the action in pooling
the stock. During the past IA months
over 500. 900 shares of Western Union
stock has changed hands, a fact that
clearly indicates the wisdom of the
action taken.
Office in Wallace.
The stockholders recognized that
the operations OF the Western Union
have now reached the stage which re-
auires the constant presence of res
ident manager and the records of the
company convenient to the mine. 1t
was therefore decided by unanimous
vote to move the office of the COM
pany from Spokane to this city. Ben
L. Collins. who has guided the destiny
of the Western Union from prospect
to mine was unanimously elected
general manager of the company. He
has long had under consideration ma
king this city his home in order TO
rive closer personal attention to the
mine and now that the company has
enlarged the scope of his position and
will move the office to this city, it is
understood that Mr. Collins will soon
make this city his home.
SHIPMENTS Aggregate 100000.
The first ore was shipped from the
Western Union in November 1871
about O year and half ago. During
that period upwards of 40 carloads of
ore have been sent TO the shelters
which carried an average of Al per
cent lead and 81 ounces of silver to
the ton. Some of the shipments have
made much higher returns, one of
which was shipped to the Bunker Hill
smelter few days ago from the Lo-
new lease which is expected to net
nh foI ,af
of shipments to date is in round fig
ures s1OS. 900 The company re-
ceives a royalty of rs per cent on net
smelter returns from all shipments,
the leasers assuming practically all
expense of operation. AS a result of
this system the company has derived
a substantial profit both in cash and
in the form of development work, a
situation that enables it now to take
over the direct operation of the mine
without imposing a financial burden
upon the stockholders. That is to
say, the profits from royalties and the
ore in sight enable the company to
take up a more pretentiOus program
Of development and operation with
assurance that the profits from the
mine will meet the expenses and at
no distant date place the property on
a dividend paying basis. 1t was this
highly favorable situation that caus-
ed the company to decide to terminate
the Kron-J johnson and LOney leases
upon their expiration on August 1.
Shipping Six Cars Monthly.
The Kron-Johnson, the original
lease that transformed Western
Union from a prospect to a mine, is