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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jul 19, 1915
Page
8
New York investors push for lower costs and steady dividends as 1,109,000 share stake in the Su mine in Coeur d'Alenes transfers to Paradicate through multiple exchanges. Market activity widens, with a 1-cent dividend totaling about $75,000 expected this month and a 6-cent payout possible next month amid rising zinc demand.
The Iron Mountain silver mine near Superior, Montana, was bought at foreclosure by H L Day for the Federal Mining company at 110000, beating a bid by John T Gray for a Wallace syndicate. The buyer plans to invest at least 200000 more to bring the property to profitability despite an outstanding debt of about 80000. Located in Mineral county, the mine yielded large ore deposits in early days, and bondholders moved to foreclose after delays in returns on investments.
A mid year outlook report by Charlen A. Stoneham & Co. forecasts a highly active metal shares market through the second half of 1915. It notes broad gains in securities, strong metal production earnings, rising dividends, and robust investor demand, with a particularly optimistic view for metal stocks and related river silver plays amid evolving wartime demand.
Rumors that the Day interests will take over the Hercules mine adjacent to Colville and build a smelter at Northport Washington gain credibility. An abstract of title is reported complete by Colville brokers, with a $63,000 price tag and a machinery pact worth about $3,000,000 tied to plans for inland empire smelting.
A Miner writer extols Death Valley as a vast mineral treasury surpassing many famous regions. It describes abundance of gold silver nitrates copper iron tin arsenic asbestos and more, and notes legal licensing rules for mining engines and operators under state law. The piece concludes with a quip about Houston Post.
Eureka Mining Company may distribute an eight cent per share dividend if net profits exceed a $150000 reserve. July earnings hoped to meet or exceed the amount, based on June operations and ore in transit. Directors reappointed at annual meeting. development plans to restart work soon pending market conditions for spelter.
The Lakeview mining venture announces plans to employ 200 miners immediately at Promontory. Lakeview and associates will receive a share of ore from the Carbonate Hit property, with 10 glory holes retained for ongoing shipments. Automobiles and trailers will enable freight of ore to Saline, three miles away, as a potential zinc smelter site is considered.
The Mauldin mine near Argenta, owned by James Mauldin for 25 years, is being turned over to Alexander Walker of the National company. Preparations for sampling and large-scale development follow, with ore bodies exposed in the Ferdinand group and two shafts, including a 182-foot shaft. Copper, gold, silver, and high-grade ore are present, and nearby claims from Butte Argenta and Jackrabbit alignments indicate strong prospectivity as outside interests enter the project.
Reports say engineers from National Copper Co examine the Missoula copper mine. An option to Snowstorm to purchase is looming with a May 10 stock payment of cents per share. If Snowstorm completes payment, control will transfer to National Copper Co. Mullan report notes encouraging copper recovery and sinking progress from the main tunnel level begun about 80 months ago.
Idora Mining officers report stockholders are hopeful about the company’s prospects as assessments are paid and delinquencies reduced. Maurette of Spokane says the firm is current on obligations with plans to capitalize, while ore shipments and assays near peak tonnage are described. Exploration notes describe a 200 foot section open in the intermediate level and continued shipping to East Helena via a newly built spur at Prichard station, increasing net profits.
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