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Show IHYPDTHEEK PLANS CONCLHG MILL Coeur d'Alene Concern Would Increase Capital Stock to Provide Funds. ALSO TO BUILD TRAM Stockholders Called to Meet March 10 to Discuss Proposal. Special to The Tribune. SPOKANE, Feb. 21. Plans aro un-, der consideration for increasing the capital triook of tho Hypotheek Min-ing Min-ing company, operating tho Hypotheok mine, in tho Coour d'Alono district in Idaho, from 1,500,000 shares at 10 cents par to 2,000,000 shares of oqnal ralne, and a special meeting of tho stock-holders stock-holders has been called at "Wallace, Idaho, on March 10 to discuss tho pro-posaL pro-posaL Tho call for tho meeting states that If tho increase is authorized a portion of tho added capitalization Trill ho devoted to constructing a 300-ton concentrator on tho railway roar tho property, installing a traniway from the mine to tho mill and fully exploring tho lowor workings of the mino, in which, important showings of oro have been reported at intervals "for several months. Development and operating oxponses at tho IJypothcck heretofore have boon financed by frequent assessments on the out-standing stock, but the oporafcora state that further assessments Trill not bo neccpsary if the increase in capitalists capitali-sts zation is authorized. Lucky Friday Reorganizes. The Imcky Friday Mining company, which owns property near Mullan, Ida-ho, Ida-ho, has been reorganized, according to announcement- sent out by President Franklin Pfirmin and Secretary James A. Wayne of Wallace, and a call has been sent- to stockholders requesting them to present their holdings for trnns-fer trnns-fer into the reorganised corporation. The new concern is capitalized for the same amount as the old, 1,500,000 shares at $1 par, and there are 170,000 shares in the treasury. It is planned to levy an assessment of 3 mills on tho 1,830,000 1 shares outstanding, which will provide a fnnd of $3000, enough to liquidate'tho existing indebtedness and leave a bal-anco bal-anco of $43S, as tho nucleus of n work-iag work-iag reserve. The Lucky Friday mino, once regarded as among'tho most prom-ising prom-ising undeveloped properties in the MuUan district, is said to bo in good physical condition still, although idle for some time It is developed by a tunnel 600 feet long, and there is a complete equipment of trackage and ore cars, together with an electric drill-ing drill-ing plant and necessary mining ma-chinery. ma-chinery. Approximately $20,000 has been oxponded to da to' on the prop- The Crown Point lease, in Govern-ment Govern-ment gulch, near Kellogg, Idaho, oper-atod oper-atod by Frank Rowley and A. Cooper, i3 preparing for its first shipment of high-grade oro, and will finish loading this week, according to report received 1 in SpoUniie. Tho old property has been cleared out and stoping operations are under way. The Crown Point was one of the richest small mines in the dis-tnct dis-tnct a number of years ago and was later abandoned because of tho ore running in pockets. Rowley and Coop-er Coop-er have opened up some "good ores. It is reported that the leasers are plau- j ning to erect a small mill in tho spring to handle the low-grade product. Idora Mill Running. H. Tj. Winder of Spokane, secretary of tho Idora Hill Miniiu; company, states that the mill on Sunset peak, near Wallace, Idaho, has started run-ning run-ning on ore from tho Tuscumbia, which is being worked bv tho Idora Hill un-der un-der a Tease. Tho bins are full of oro and the mino is prepared to supply- an abundance of oro to keep the mill go-ing go-ing on a stead' run. There is a good snow road from the Idora mill to Prich-ard, Prich-ard, tho shipping point to which the ore is hauled. JD. E. Aloxander of Spokane has taken a tenycar loaso on the Peacock mino at Conconully, about 125 miles northwest of Spokano, and he has an option to lease tho Arlington at the Eamo place. Tho Peacock is owned principally by R. A. Hutchinson of Spokano Spo-kano and William McDaniol of Conconully. Concon-ully. Alexander and Charles V. Bobb, a mining expert from Tonopah, Nevada, visited the properties rocontly. Mr. Arlington is planning to erect a concentrator con-centrator at a coat or about $10,000 to treat tho Peacock's low-grado oro. of which about $54,000 worth is said to bo blocked out. Bond on Mayflower. Charles F. Soderling of Spokane and his associates have taken a bond on tho Mayflower group of three claims an tho Chewclah, Wash., camp, for $80,-000. $80,-000. First payment is to be mado in twelve months. The leud is a strong ono and can bo traced for moro than a milo on tho surface, of which tho Mayflower group covers 4500 foot. Tho ore values aro coppor and silver in an eight-foot load on tho fifty-foot level, which has been cut by a short tunnel. |