Show STEWART COMPANY SECURES CONTROL special correspondence spokane wash aug 9 through the purchase of shares of coeur dalene development company stock the holdings of frederick burbridge of spokane and C W beale of wallace idaho the stewart mining company has secured control of the corporation which is capitalized for 1000 shares at 1 each having already had possession of shares of the issue acquired from the late F august heinze in 1908 the deal was closed last week in new york by burbidge who was east on other business when negotiations were instituted with the purchase of the burbridge beale holdings the stewart company has taken over all the interests in the coeur dalene development company except those of fred W bradley president of the bunker hill and sullivan company albert burch of san francisco cal and joseph mcdonald former manager of the frisco mine at gem idaho later superintendent of the treadwell mine in alaska and now in charge of a property in mexico the holdings of the company are ten patented claims comprising a surface area of acres and the mill now being operated by the stewart company a plant that cost to build and equip the property has been extensively developed and is said to have produced more than of ore gross value the ontario mining company composed of al A folsom spokane attorney stanly easton general manager of the bunker hill and sullivan mining company and associates lessees lessels of the ontario mine have had a working privilege on the lower tunnel of the development company through which the ontario ore was rem removed oved under an agreement to do a stipulated amount of development each month and the under grounds have been considerably extended by the ontario leasers leaders lea sers the coeur dalene development company was org organized anizel in 1899 by mr burbidge and associates who erected the will and operated the property for several years later F august heinze acquired a third interest in the corporation which he surrendered to the stewart fc company and the latter has been endeavoring to get control since there is said to be some unexplored ground on the property which the stewart officials announce they will begin to develop immediately the claims adjoin the stewart holdings and can b be 9 e entered which in ill from the stewart workings several places are close to the dividing lines the amount involved in the deal has not been made public |