The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-06-28

per ton.
Average assay value Of mine run
ore was 1884 per cent lead and 1922
ounces silver. making a concentrate
of 65 per cent lead and 22O45 ounces
silver and producing S2.556 tons of
lead and 1.1O4124 ounces silver. Mid
dlngs of 27G97 tons contains 1895 per
cent lead and 1924 ounces silver pro-
ducing SOS4 tons lead and 1O0,S64
ounces silver
Total gross metallic value of feed
passed through the mill was S6,SS4,92S
with net recovery of SS.4S4,65S, or eco
nomic extraction of 54.21 per cent.
The West mills ran S54 days during
the year and passed through 4SO.219
tons The Sweeny mill was operated
solely upon lease ore. from which the
company received S52,15s in royalties.
Nine Years Ore Supply. :
According to the companys estim-
ate. reserves of S.SOS.716 tons We're
available at the end of the year, COM
pared with 4227OOS tons at the end
of 1891 In other words, reserves
were drawn upon TO the extent Of AS
292 tons. In 1921 they were drawn
upon to the extent of 5S5.429 tons.
However. during 1922 the great ore
bodies were developed upon the 10th
level with gratifying results. thus
opening up additional reserves of
magnitude that do not wholly find
place in last years estimates Sink
ing to the nth level. 1900 feet vertic-
ally below the Kellogg tunnel. is now
under way and in this direction other
great reserves will in all probability
be opened during the current year
Under the head of new mining VEN
lures are listed a so per cent interest
in Treadwell- Yukon. Ltd, which owns
the Mayo property, Yukon Territory
and McGrath- Nixon Fork property in
Alaska and which is charged with a
total of S331.649. after writing off
1855, $50, one-half of the McGrath-
Nixon Fork outlay; so per cent inter
est in Hickman Bros lease on Ida
ho-Continental mine listed at sS67,
642: so per cent Sullivan Mining COM
pany, operating the Star mine at
Mullan. in partnership with Hecla Mi
ming company, listed at $26O,774;
Wood River mines, 100 per cent own
ership listed at s2s,995, after writing
off $1O3,621 and 100 per cent Big Creek
mines, Occur d'Alene district, listed
at S91,426, after writing off $16,155.
Idaho Holdings Extensive.
The company holds by United
States patent 2OS mineral claims, con-
tanning 3.O1O.6 acres; SO claims have
been surveyed for patent and claims
are held by location. 1t also owns two
millsites by patent, a total of 6S acres
and 10 other sites by location. Cut
over timber lands in the name of the
company embrace 962 acres, while it
also possesses 1.1O7.77 acres of stand
ing timber Wardner property includes
seven lots. while at Kellogg the COM
pany has title to the Y M. c. A. build
ing. Acreage to the extent of 1.474.S
acres is held at Kellogg and immedi-
ate vicinity.
Property and Assets.
At the beginning of 1922, property
and plants were valued at S41,94S,69S
Purchase of mining claims, including
Switzerland group Hoover Alaska,
ORC Grande and Midland group, in
volved $1S,324; the sum of s199,4S4
was expended upon mine construction
and equipment; 1864 upon smelter
construction and Office equipment;
timber lands cost 1851 and other real
ty. S15,396. bringing total valuation at
the end of the year to $42,22OO52 De-
probation charges reached s279,0O6
and depletion deduction, $55S,777
leaving net valuation at the end of the
year. $41,SS2,269. To that sum was
added miscellaneous supplies, S567-
109; ore and smoltor product accounts
S1.594,93S; investment reserve, ST.
269 O64; cash accounts, S71,271; out
side investments, $1,15O,7SS; miscel-