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Show BISIH PROPERTIES ' RESUlJPERIli Old Hope and Katie Mines to Be Equipped for Aggressive Ag-gressive Campaign. New Vein of High-Grade Encountered Heightens Hopes of Operators. Details have been arranged so thai a resumption of activity on the former I scale will begin Immediately at the Hope and Katy mines in the J3as!n district, Montana, accord I ng to the Anaconda Standard. Coiuorninff work that has already al-ready been he un on t his property, the Standard states the following: "Marcus Jl ewett, mauaycr of the Jib Mining company, which Is the name of thu new concern that lias recently acquired ac-quired ttie ownership uf the old Hope and Katy mines and adjacent claims in the 1 a.iin section, returned lo Hutte from Salt L,ake yesterday, after having- successfully suc-cessfully placed a lart,'e block of stock of tho undertaking with prominent Salt Lake mining men who will develop the old property also. "Mr. l-icwett came In from Iasin last night after putting to work the first crew on the new work. Thirty men will be employed em-ployed at tho start getting the property in shape, and the new machinery for un-watering un-watering the shaft will be installed as fast as It Is received, a portion of it having hav-ing been ordered, and it is on the road. Mines Produced Heavily. "The old Hope mine and its sister property, prop-erty, the Katy. which adjoins the Hope and which parallels the Jib vein, have long bten known to mining men of Montana Mon-tana as heavy producers of silver, goid and lead. Their period of prosperity and activity was interrupted by a scries of misfortunes. After a flro which resulted in the death of a number of miners, a bank failure In Helena and other complications, com-plications, the property was shut down In and has not been worked since. "The title to the property was subsequently subse-quently acquired by the lale H. H. Frank, .A. E. Spriggs, present chairman of the Btate compensation board, and Marcus Hewctt. Recently the Jib Mlnincr company was organized for ttie purpose of reestablishing reestab-lishing the property on a producing; basis and the work is now under way. New Vein Discovered. "Much interest has been created in the property by the discovery of a new vein or hanging wall streak of fabulously rich ore which has already produced over SfiO,-000 SfiO,-000 from about 47 feet in length along a small drift in which the new ore was found. Some of this ore returned over $10 a pound for a lot of the first car. The first carload shipments have returned from $13,000 to Jln.OOO a car. The extent of this new ore body has not yet been proved as it lies directly at the level of the wator of the mine and the mine will have to be unwatered before sinking can be started on it. "The new company will include a number num-ber of the strongest mining operators of Utah, several of them being directors in the Salt L,ake banks, and other large mining operators of the Utah mining districts. dis-tricts. Others Interested. "Prominent among the group who have become Interested in the undertaking are John Browning of Browning Bros., of machine gun fame ; Engineer J. F. Cowan, Co-wan, who opened the Walker mine; E. YV. Griffiths of Salt Lnke, mining engineer: Ininean jMacYiehie of the National Copper bank, and some six or eight of the leading lead-ing capitalists of Salt I.ake and Ogden." CALUMET-ARIZONA STOCK MAKES RISE Reasons for tho recent advance in the price of Calumet & Arizona Mining company stock, which was the leader in copper-share activity during the late trading on the Boston stock exchange during which time the price climbed al-. al-. most $5 per share to 75, are given by the Boston News Bureau as follows: "Calumet & Arizona, in February sold for 57. is today producing its copper cop-per and laying it down on the docks in New York City for 12V. cents per pound. This, of course, is exclusive of reservations reserva-tions for taxes and property and plant depreciation. The company has practically practi-cally cleaned up all its surplus metal and beyond the usual three months' output out-put that is always of necessity in transit or in process of smelting and refining it has only a few pounds on hand and is not pressing this for sale. "At the close of last year Calumet & Arizona had close to $3,700,000 in cash, which, with notes ahd accounts receivable receiv-able of 52.300,000, made about $tl,0U0,O00 in cash or the equivalent. While the loan copper market of the first three months of this year did not permit any profit and even caused losses in most camps Calumet & Arizona will show a balance on the right side of the ledger for the first half of 11H9. Its working capital now will show little diminution from the 19 IS figure, notwithstanding a dividend of 51 per share has been paid and Uncle Sam's 191S tax bill has been receipted." |