The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-12-06
ST. JOE AND HENRY FORD
IN SOUTHEAST MISSOURI
AUTOMOBILE MAN ENTERS FIELD
CONFIDENT WITH ST. JOE
FEDERAL DEAL.
Correspondence Engineering and
Mining Journal Press.)

Correspondence Engineering and
Mining Journal Press)
The disseminated" lead district Of
southeast Missouri is mnch excited
by the recent absorption of the Fed
eral Lead Co by the St Joe Lead Co.
for a consideration of $4,000. 600. Of
which $4,000, 900 is cash and the bal
ance in five annual payments of $1,000
600 each at 6 per cent interest As it
was not many years ago since the
Federal Lead Co. attempted to secure
control Of the St Joe Lead Co. the
district is much surprised at this sud
den change in conditions. This acquisi-
ton of about $4,000 acres of land that
has one 4,OOO-and one 5000 ton mill and
eleven shafts makes the St. Joe Lead
Co. emphatically the preponderating
influence in the Lead Belt" as there
now remain only two other large pro-
ducers. the National Lead and the
Desloge Lead companies. The only
other producing company-and it Is yet
on a small scale-is the Annapolis
A-NeNN ~ 81 AANAA NNANs-
Adami Manager
As the St Joe company is changing
haulage from all its shafts TO its pres
ent three mills from surface to under
ground, this absorption Of the Federal
Lead property will help greatly. The
two properties checker boarded each
other and interfered with such a plan
heretofore. The St. Joe company will
have a better opportunity for con-
trolling the labor situation, as it will
employ over rs per cent of the workers
in the district This latter feature may
prove important in view of the pos
sible entrance of Henry Ford in the
district; he is expected to pursue his
usual policy of paying high wages.
The ST Joe company has already
taken over the operation of the Federal
and has placed it's own men
in all the important executive positions.
AS c. J. Adami, manager for the St
Joe company, was in charge for the
Federal company in this district before
he took charge of the st. Joe oper-
atoms, he is already familiar with
the local details of the Federal mines
and mills.
Ford Has Large Tract
The Henry Ford interests are now
in the district. have open
ed an office at Bonnie Terre, and have
started diamond drilling on the 10000
acres they have under option in st.
Francois and Washington counties.
Two drills are now in operation and
several more have been ordered. A
corps of experts is on the ground to
look after the drilling Unless they
put in so TO 100 drills. they can at
best attain only a very superficial
knowledge of the one hundred or
more tracts that are under option
for from six to twenty four months.
as experience has shown that, unless
the drilling is thoroughly done with
closely spaced holes, results are like
" to be misleading. However, Ford
IS fortunate in starting drilling at this
season of the year when the fifty or
more drills usually operated by the
present companies are generally idle
or the winter. There is an abund-
lnce of experienced drillers.
Prominent engineers who are well
acquainted with the district are salts
led that Ford can build up a large
production from the properties that
le now has under option if he pros
,ects thoroughly, Notwithstanding
hat most of the tracts have been
lrilled at one time or another by
PRESENT interests.
Condemned Land Makes Good.
The records of the district have
hown in many instances that con
emned" lands that have been drilled
nee have later proved valuable pro-
ucers when redrilled by other oper-
tors In fact until recently, land
wners were not only refused
ecord Of the drill results. but were
ot even allowed to be at the drills
While the prospecting was going on,
o that it was easy for the operators
o report adversely.
The absorption of the Federal Lead
%. recalls the history of the last
wenty years in the district. The
'ederal Lead absorbed the Irondale,
)erby, Central. and Leadington COM
anies. The Doe Run company
bsorbed the Columbia and Donnelly
and the Doe Run was then
bsorbed by the St. Joe cOmpanyThe
It. Joe company absorbed the Baker
nd Big River Lead companies and
be National company absorbed the