| Show international BUYS WALKER by a deal consummated in salt lake city about the middle I 1 of the present present month the international smelting smelling Sm elting company becomes the owner of a controlling interest in the walker copper company owning a valuable property near portola in plumas coun ty california the consideration is stated to have been 1 a share or for control of the shares of the corporation the property has been owned by the cowan and walker interests of salt lake the former of which is at the selling end of the present transaction the walker interests will retain all large blocks of stock which are not transferred to the new company the deal has been under way tor for some time but has hung fire until the recent ore developments in the new tunnel at the property proved up a tonnage that is is probably equaled by few mines in the west with a like amount of development work by the terms of the contract entered into the smelting smelling sm elting company will do considerable development work at the property immediately it calls for about fat fe bt of drifting and the main shaft is to be sunk an additional feet for which an expenditure of approximately will be required the on the ground has been developed by diamond drilling to a depth of feet from the surface actual crosscuts cross cuts driven in the mine show the to vary in width one crosscut is thirty five feet in length with the ore showing in the breast and no sign of a another is fifty feet in length and still another has been driven twenty feet through high grade and for fifty eight feet through milling ore the latter runs from 3 to 6 per cent copper and the shipping grade from 7 to 12 per cent the ore is a fine smelting smelling sm elting product and is stated to be just what is needed to feed the smelter at tooele thoele utah of the international company the new ton flotation plant erected by the company on placer ground about feet from the mine went into commission last week it is said to be satisfactory beyond a few minor changes such as are necessary with any new plant the old walker mining company is capitalized zed at shares par value 1 each all issued the property consists of thirty six claims ten of which are patented and acres of placer ground it has a first class machinery equipment J R walker is president 6 G L bemis is vice president john P F cowan is secretary and managing director and G T hansen and W H wattis alethe are the additional directors |
