Show idaho mi miners ners buying boyi ng stocks SPECIAL CORR correspondence while the advance in the price of metals has resulted in the greatest revival of interest in mining miming investments in the history of the northwest a very potent factor in the situation is that the miners in the different camps in northern idaho since state wide prohibition was inaugurated january I 1 are buying stocks with the money they formerly spent for booze the immediate effect that this is having is that many small companies with promising prospects are enabled to finance development through the sale of stock to miners in nearby operating mines and a number of them that undoubtedly would have remained idle for years had the state not gone dry soon will berated be rated among the producing concerns of the district in wallace the most of the buildings formerly occupied iby by saloons have been converted into brokerage offices and almost any day these places are thronged thron ged with miners says frank C bailey of spokane prior to january 1 there were but four mining brokers there but now there are fifteen a number of cu curb rb operators and they are all doing a great business the most of the miners seem to be interested in the stock of the smaller companies rather than in those of the dividend paying corporations and it is estimated that sales of this character of issues runs into the hundreds of thousands of dollars monthly business improves every line of business seems to have improved since the dry regime was inaugurated and there was not a merchant with whom I 1 talked me that his trade was better and hl his collections easier than ever before in the history of the district mine managers also are pleased with the changed conditions they assert that their men are doing more and better work and that the danger of accidents always a nightmare to the man in charge of underground operations has been lessened materially since the saloons were discontinued another factor that is entering largely into improved mining conditions in the coeur calenes dA lenes according to men closely in touch with the situation is that many of the miners who are beneficiaries of the increased wage scale are investing their added earnings in stocks this means that the money is being retained in the district and is going to development of new properties the west hunter optioned Option ed the holdings of the west hunter mining company in the coeur daleanes dAI dA lenes enes of which A bat strode mullan idaho practically is sole owner have been taken over under option by the stewart fc wining mining company for a reported price of according to sidney norman who represented mr strode and the west hunter company in the negotiations under the agreement mr strode gives the stewart company option on shares of his personal stock for one year and if the option is exercised at the expiration of that period he is to receive down and an equal amount every thirty days thereafter until the full amount of the purchase price has been paid the treasury stock amounting to to shares having bee been ri issued is S aed for development purposes recently also is taken under option from the west hunter company by the same interests payment to be made in development the shares to ibe be turned over as the work is completed the west hunter group comprises eleven claims including the cuban republic which is patented the holdings occupy o all the ground between the federal companas Comp anys morning claims now its principal producers and the gold hunter and lie south and adjoining the independence lead formerly the independence gettysburg and the american commander recent surface development has exposed a twelve foot vein for feet the formation an altered quartzite being liberally sprinkled with galena bunker hill sullivan dividend on march ath the bunker hill sullivan aiming lining Al company with mines and mills at kellogg idaho began disbursing from its head offices in san francisco the second double dividend in four months the payment amounting to 50 cents the share or making the distribution for the current year to date and increasing the grand total to the payment is in two instalments installments the regular monthly apportionment of 25 cents the share or and a special declaration of equal amount the bunker hill sullivan properties are the most extensive in the northwest and are developed to a depth of feet on the dip of the veins by miles of underground workings the principal working artery is known as the kellogg tunnel the bore running for approximately two miles through the mountain from kellogg to wardner this also provides an outlet for the caledonia mine adjoining the workings of the two properties being connected this arrangement having been made possible through the settlement of litigation between the two corporations the result being the reorganization of the caledonia company the capital stock of which was increased from shares at 1 each to 2605 shares of equal value the bunker hill hill interests acquiring the added stock reliable reports state that the cash sur plus of the bunker hill company was on march 1 of which was in a contingent reserve and the re bainder had been set aside to finance construction st of the new smelter the corporation plans to build soon either at kellogg or some point on the pacific coast i |