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Show LEASING COMPANY SURRENDERS! F0R. $22,000 For sonietline thero hns been rumors that tho Miller Hill was financing the Miller Hill Kxploratlon Co. In driving n deep tunnel on the Seotuchmnn claim between tho I'nclflc and Dutchman mines. Thursday u letter was sent out to nil tho stockholders announcing that tho Miller Hill Company hud paid tho leasers $22,000 for tho abrogation of tho lease nnd tho purchaso of ita equipment. Tho letter also states that an estimate of $15,000 has been placed as tho amount necessary to completo tho tunnel, now lu 1.000 feet, to tho point whoro tho compnny expects to got ono. To raise this money tho company will sell 350,000 shares of treasury stock at 10 cents per share, nnd will allot tho amount proportion, ntoly among its stockholders. Fco. plo acquainted with tho cost of driving tho tunnel say that tho stockholders In the Kxploratlon company can bo glvon n nlco dividend from tho $22,000. Tho parent company will rctnln tho tsamo manager, J. C. Jensen, who wilt continue to push tho tunnel with nil possible speed. It Is now going in at tho rnto of 10 to 8 feet por d.iy. |