The Western news. [volume] (Libby, Mont.) 1933-current, 1936-04-09
Start
Work At
Glacier Soon
New Officers Take Over
Management of Mine
South Of Libby
APPROVED METHODS
WILL BE FOLLOWED

A well thought out program will be
carried out in the development of the
Glacier Silver Lead property south OF
Libby. That is the gist of a statement
given to the Western News by Thos. r.
Toole, president, and F. w. Kiesling,
secretary of the company, while in
Libby last Saturday. These two men,
officers and directors of the company
came to Libby from Spokane to conduct
a sale of delinquent stock which had
been advertised for that date. They
were accompanied by Cornelius E. COL
lier, also heavily interested in the
property.
The sale of the delinquent stock was
advertised to be conducted at the court
house in Libby. In view of the fact that
all offices have not yet been moved
from the old into the new building, the
sale was held first at the old building
and later at the new court house.
Will Block Out Ore.
We expect to start consistent de-
velopment of the property in the very
near future said Mr.. Toole. 1--WE will
first proceed to block out a body of ore
and will conduct explorations in the
No. tunnel. We have had two high
class mining engineers from New York
city examine the property and their
recommendations will be followed. The
company will also have the services
of a consulting engineer at all tines
In line with good mining practice, we
do not expect to start the mill until
large enough body of ore has been
blocked out to warrant its operation.
There is an entirely new manage
ment taking charge of the mine" con-
tinued MIR. Toole. ''The old manage
ment is entirely out of the picture In
this connection it should be stated that
we have no interest, whatever, in stock
promotion. Our sole purpose is to de-
velop the property ard if possible bring
1t to producing stage. In following out
this program Of legitimate mining de-
sideration to the interests of the COM
munity in which the property is stu
ated 1t is Libby property and in
that respect it belongs to the communi-
ty. Of course we want to develop the
to the point where it will pay
the stockholders profit If we can do
that, we know it will result in
bringing a lot Of other capital into the
district for the development Of other
here
The stockholders of the company
recently voted to make the stock as
sessable, SO as to properly finance
future development. The Saturday sale
of stock followed the first assessment
against the stock. ~s=s..
Confidence in Property.
1--WE have been very much en-
couraged," said Mr.. Kiesling, "by the
response of the stockholders to this
assessment. We had a very small
amount of stock to sell today and prac-
tically IS per cent of the assessment
was paid. All of the large stockholders
paid up This confidence of the stock
holders in the property encourages us
to proceed with its development"
Both Toole and Kiesling said that
everyone who is acquainted with the
seem to have much confidence
that paying mine can be developed if
it is handled properly. That is another
encouraging phase of the situation,
they said.
Present work at the mine will be in
charge of J. l.. REILLY, who has been
mine superintendent for the past year
or two