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Show I STEWfiRT IS SURE I 10 EXCEED RECORD 9 Quarterly Dividend for This 9 Year at Least Is Thought 9 ' Assured. B MAY PROFITS LARGE 9 H Ontario-Stewart Case Will Be H Fought Bitterly in High- " 9? est Court 1, Special to The Tribune, 9, WALLACE. Tdaho. Juno 14. Tho Stewart Mining company made its ban-, ban-, nor monthly record in May. thn not earnings for the thirty-one dn3's aggre-H;: aggre-H;: gating $05,000. The best previous rcc- ord. according to rcporis mado public by the company, was $G2,000. Tho in-I in-I crease in profits is due principally to a higher grade of ore having been han- died in May than previously, and in addition to this the output, was larger ; and the mining costs have been re- 1 duced through tho installation recently fl . of now equipment. Officials of the company predict that .the June profit, will exceed that of May, and they ex- press confidence in the company dcclar-' dcclar-' ing dividends at the rate of 10 cents a share quarterly for the remainder of fl , the current year at least. ; iSTotico of appeal to the supremo fl court of tho United States from the de- 1 cisrun of the supreme court, of Idaho . in rho famous mining case of the Stew- art company vs. the Ontario Mining 1 eonipanj. was filed with the supreme I court ou June 13. Carload of Exhibits-. The appeal carries the case before . the highest, tribunal in the United States, and with it will go a carload of exhibits now in Boise, but which will be shipped direct to Washington, D. C, I to be set up there for illustration when ' tho case is presented. The case in-' in-' volves extra lateral rights and urider-ground urider-ground workings of tho Ontario mine, ( regarded as one of the best properties in the Coeur d'Alenes. Jonathan , Bourne, Jr.. former United States sen- ator from Oregon, is a heavy stockhold-er stockhold-er in ihe Ontario companj. The dis-, dis-, trict court for Shoshone county held for the Ontario company. Tho Idaho supreme court affirmed ' this decision, from which the appeal is taken. The crosscut, from the 550-foot, level in the new three compartment shaft be-Hj be-Hj ing sunk in the Marsh mine, near the j Hecla, at Burke, encountered oro carl last week, exposing a ftill face, approx-imatoly approx-imatoly five feet wide, about, half high grade and the balance excellent milling rock. The point where the strike was made is 550 feet below the floor of the adit level and 150 feet lower than the bottom of the old incline shaft, while the vertical depth from the surface is a little more than 1000 feet. This is the second vein encountered in the Marsh in the last six months, and the opening of the vein at the 1000-foot level practically proves the propertv one of the most, valuable partly dovef-oped dovef-oped properties in the Burke section, rt is said that John D. Eyan and as-sociates as-sociates hold a large b'look of the Marsh stock, purchased a few months ago to enable the company to continue development work. The large shaft will be continued iu the hope of tap-ping tap-ping the ore shoot at still greater depth. Visitors See Strike. Coincident with the visit of several stockholders, tho Intorstate-Callahan cut ore on June G. iu the face of the workings on the 1200-foot level of the Interstate property. Tho news of the strike was given out by J. A. Perceval of Minneapolis, a heavy stockholder of the company, who, with several other stockholders arrived in Wallace last week on an inspection trip. The party was unable to got to the mine on ac- count of hich water, but visited tho mill, and all expressed themselves as well satisfied with their investigations so far as they were conducted. The ore encountered on tho 1200-foot level is the full width of the tunnel. Cross-cutting Cross-cutting will bo commenced immediately to determine its extent. Present indications indi-cations point to a good sized body of shipping ore and a large body of milling mill-ing rock. On the third level in the Manhattan section of the property, food ore across the full face of the rift, has been encountered. Mr. Perceval Per-ceval and associates have been advancing advanc-ing money for the development of the combincd'properties for more than four years. Now that tho mill has proven 'successful, the visiting stockholders pronounced themselves delighted with the prospects of the property. Hypotheek Shipment. The Hypotheek mine shipped a fifty-ton fifty-ton car of galena to the International plant at Tooele last week, the largest single shipment mado from, the prop-ert3. prop-ert3. The ore is Tatod at $75 "a ton, and is clear galena. Bert Stokes, superintendent su-perintendent of the property, has resigned re-signed and has been succeeded by F. P. Rogers, who is now in charge. An error in an early survey, checked up this week by an engineer, "has shown the officials or the Burlington Mining company, operating in the Evolution section, that they must drive the deep tunnel at least 140 feet further to reach tho ledge -which they expected to find forty feet back. There has been uneasiness over the failure of the ledge to appear. The tunnel is in S68 feet and will attain a depth of 1000 foet at its 1000-foot point. Pending reaching reach-ing the Vsdge t 13 proposed to re-enter the upper tunnel, a short crosscut, and. exploit the ledge. The property is said to have the most promising surface exhibits ex-hibits in the district. |
