The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-10-18
DAYS CONTROL OREANO
NEW OFFICERS ELECTED
CHANGE FoRSTALLS POSSIBLE
LITIGATION WITH SHERMAN,
ALSO DAY CONTROLLED.

For several weeks it has been gem
orally known in mining circles, though
lacking official confirmation, that the
Days had been buying large blocks
of Oreano stock and that they had
secured a majority of the outstanding
stock of the company. This informa-
ton was fully confirmed at the annual
meeting of stockholders last Satur-
day. when out of a total of $4,000
shares issued, nearly all of which was
represented at the meeting, the Days
voted 453, 900 shares and elected the
following board of directors jerome
J. Day, r. J. Maggy. f. NJ. ROthrock,
A. T. Ramstedt. Henry Lawrence Day,
Ramsay NJ. Walker and John Dolan.
The directors organized by the cleo
ton of jerome Day president John
Dolan vice president and r. j. Maggy
secretary treasurer. The retention of
Mr.. Dolan as a director and his cleo
ton to the Office of vice president was
a voluntary concession to the minor
ity. as no attempt was made by the
latter to secure representation.
Avoid Apex Litigation.
In buying control of the Oreano the
Days adopted a direct and cheaper
method of forestalling a possible apex
suit. TO begin with, a few years ago
Ieasers of the sherman extended
crosscut from the OreanO into the
sherman and struck a very promising
shoot of ore, which was proved for
several hundred feet by drifting.
Upon this showing work was trans
ferred to a lower tunnel, and subse-
quently the Days were induced to ad-
vance funds for development through
which they obtained control of the
sherman company. Investigation of
the Sherman discovery by the Oreano
people convinced them that the ore
extended westerly into their ground.
Thereupon a crOsscut was started
northeasterly from the Oreano tunnel
which a few months ago cut the ore
in the Oreano ground near the Sher-
man sideline and close to the north
west corner of the Sinner claim. Since
then the Oreano company has drifted
about $50 feet westerly, showing the
ore continuous for rs feet. The course
of the vein, however, rendered it any
thing but certain that the apex of
the vein was within the Oreano
ground; in fact, the weight of evil
dence indicated that the apex was
more likely within the Sherman lines.
In that situation Oreano stockholders
representing a majority of the stock
regarded discretion the better part
of valor" and sold their holdings to
the Days, rather than face the I'M
certainty and incur the expense of
prolonged apex litigation.
Plans of Days Unknown.
The Oreano consists of five patented
claims lying south of joining the Sher
man. also the Crown Point claim of
the Tamarack, and north of and join
ing the Standard Mammoth, owned
by the Federal company. In addition
to the showing of ore described, there
is much virgin ground in the Oreano
group that justifies prospecting, and
it is possible that eventually this may
be accomplished by extending the
old Banner crosscut from the Stand
ard, the face of which is said to be
not far from the Oreano south line.
The extension of this crosscut might
also be used as a permanent outlet
for the Sherman, which it is presumed
will be productive sometime in the
course of human events