Show SUNBEAM SHUT DOWN Directors Decide Mine Will Not Pay Above Water Level The board of directors of ot the Sun Sunbeam Sunbeam Sunbeam beam Mining company issued a state statement statement ment meat yesterday setting forth in detail the reason for the closing down of the mine which was mentioned exclusive exclusively ly in j yesterdays Herald The report shows that the mine has run behind for the past three months and al although I though every effort was vas put forth to tomake tomake tomake make it pay payout out the conclusion was reached that there is no hop hope of get getting getting getting ting pay ore re bodies above the water level While some ore re could be found above the water line it is not in quantities S that would justify more prospecting The directors maintain that a a big producing mine above water has never been expected but the con confidence conI is expressed pressed e that it can be made madea I a large largo contributor by going to the deep and ana tapping the richer ore bodies In the early part of last November It was as thought the mine would be self sustaining but the ore bodies proved to be too small and the debt against the mine gradually increased So un until until Until til the outstanding obligations are paid up the property will remain closed clo d Manager Buckbee was instructed to ship the ore re that had been broken and place a watchman in charge He left for the mine last night to carry out that work On account of other mat matters matters tars needing his attention Mr Buckbee resigned as director and manager to take effect April L 1 The remaining di directors directors directors rectors tendered Mr Buckbee a note of thanks for his past services without naming his successor |