The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-10-11

McPhillips property through
their novel promOtionp plan ha:
induced them to undertake the
development of another property
under a similar plan of financing In
fact, they had this project in view
even before the McPhillips project was
taken up, and they regard ii as even
more promising than the McPhillips
at a corresponding stage of develop
ment. The property which is now to
be developed, and upon which work is
now actually in progress. is the Home
stake. situated just east of the Hunter
mine and north of the National mill
and extending on both sides of Dead
man gulch. 1t is not a new location.
on the contrary it was one of the
early locations in the Mullan section.
and the limited development by the
original owner, while showing a strong
vein with characteristics similar to the
Hunter, made it evident that deeper
development was necessary to find ore.
A company was organized to take over
the property but before much was
Their development, the death of some
of the larger stockholders pre-
vented plans being carried out
the company fell into new hands, in
Guiding Stratton & Stratton, who have
given much time to investigating the
merits of the property and have now
undertaken to finance its development
in their own original way. Their plan
is outlined in folder just issued in
viting the public to join them in the
enterprise, which also includes a map
showing the favorable location of the
Homestake with reference to we'll
known mines. In offering another
little gamble in a mining option"
Stratton & Stratton have this to say
of the propositions
May Be Another Lucky Strike.
Those who have joined us in the
McPhillip's $1,000 options have no
reason to regret having done so, for
in a few months development work, at
a cost of less than $15O0.0O, we have
uncovered a wonderful showing of ore
which not only has sent the price of
the $1,000 options up to a ready selling
price of several times $10.OO-but for
those who hold on to these options,
possible revenue from dividends for
many years to come.
1--WE have, for several years, had
our eye on mining property Home
stake Mine-under development, and
so convinced we were that some day it
would prove a winner, we took advant-
age of a favorable opportunity to ac-
quire large block of the stock of this
company The company has author
lied the sale of the balance of its
treasury stock amounting to 100000
shares-the proceeds of such sale to
be used to complete development work,
now being done and to take care of
incidentals in connection, Herewith.
I'VE have undertaken the sale Of
this Treasury stock and, as far as
practicable are using the Stratton &
Stratton plan Of financing in disposing
of it,"
Engineers Report.
After describing at considerable
length the favorable location of the
Honestake the following letter from
e. G. Gnaedinger. mining engineer who
has long been familiar with the prop
erty is quoted:
LAS requested, I am writing
YOU this letter, giving my opinion
of conditions at the Homestake
Mining
Company.
1.-THE work at the mine has
been done in a workman-like
manner to prospect the fissured
mineral zone that extends through
the property westerly into the
ground of the Hunter and Morn
mines.
VERY little work in the nature
of further prosecuting gives every
indication of cutting ore, and in
such a case this ore should be
very high grade. as to its silver
contents.
1.-THE HomestalSe group of
claims lies in as ideally geo
graphical and geological position
as could be desired. The vein
system is unquestionably on the
eastern extension of the famous
Hunter veins. These veins have
all the requisites necessary to an
extensive ore body.
Personally, I can recommend
an investment in this property as
a very cheap prospecting venture
and a very good gamble"
We Offer
TN blocks of $50 shares each, Home
stake Mining company stock q .O5 per