Loading...
Zurich Herald, 1929-04-11, Page 6OilStocks Lead Howey. The contract agile for a minie mum of 2,00 it.p. Power will be de- t livered at the mine as soon as the Tr4ding In ores, plant ean be built at Ear Falls, where Vconservation daia has been wider Howey Ci 'old Mine Has Much:Construction for smile Maths .past. It will take aneeoximately a year to eohiplete the power installation, in the meantime, 4 500 -ton mill will he built at the' Howey property, Shaft - Sinking to a depth of 1,000 feet is now In progress. 'rhe last information available was that a depth of approxi- mately 700 feet had been reaelted. The shaft will be completed and a sump made by July. Lateral work Will be conducted on the lower four levels simultaneously, as was the case on the first four. It seems likely .that the next six months will. see the Hovey management well on the way toward' proving up the downward NC- -tension of its ore to a depth of 1,000 feet. There is plenty of ore at the present stage to warrant embarking Sailed the Eastern markets. The on a 500 -ton milling program. The unusual spectacle of stocks doubtlug lower cost of power will assist greatly and quadrupling in price almost ove,- night has been witnessed time and 'again. Comparative ueweorners have manager, is „figuring on a cost of been sharing prominence with more $3.50 a ton. Ile also estimates the ore Seasoned etocks, such as Royalite at $7, leaving a net profit of $3.50. Home and Dalhousie. There is every It is becoming apparent, however, that indication of a fairly expended period. the fourth level is showing up a con - Of activity in the oils of Western siderable tonnage of ore that exceeds Canada. Howeeer, there is a danger the above figure. It would not he tbat this will be carried to extremes surprising if further development work that are wholly unjustified. There shows up ore which would bring the to Gaul by Hydro Com- • mission Contract LAKE SHORE NEWS By LLOYD J. MOORE 1)/lember Standard Stock and Mining Exchange Oil stocks have superseded the 'golds and coppers in market prom1 nence 'during the peat fortnight'a trading on the Standard Stock and Mining Eacheuge up until the time of the panic break on the New York Market. "There was been a great wave of enthusiasm which has travelled from the West and aa - in achieving remarkably low produc- tion casts, Horace G. Young, general are plenty -of precedents, so it would be well towatch the situation care- fully. The Tallier Valley fleld is a remark- able zone, and its possibilities have not yet been guaged. It is still more or less a leological puzzle, inasmuch as the underlying source of the crude mine average to about $3.50 under ac- tual milling tests: The tendency et the management throughout the early development of the mine has been t.o underestimate rather than to magnify the results obtained. In view of. this conservative attitude, the • manage- ment's estimate of $3.50 costs will be naptha content of the gas appears taken much more seriously than to be a multiplicity of stock flotations would otherwise be the case. it :non which excessive valuations are should be remembered that ore can apt to be placed y the speculative be mined across much .greater aver - public. Lake Shore and Teck -Hughes have been advancing stride by stride in' 'mine development without much pub - lie attention being called to their: achievements during the past year. Their progress has been quite sub- stantial and would doubtless have'. been heralded with much market ace: tivity if major attention had not been directed toward the base metal stocks, notably the coppers and copper zinc Of Quebec, Sudbury and Northern Manitoba fields. Lake Shore now stands out as the greatest gold mine be North America. It is still much but nevertheless gives every Indica- tion of, surpassing it. Ore reserves have been increased steadily and the Management has been justified in 'stepping up production. The record fOr day's run is around 1,360 tons. Annual productibn is not far from 7,000,00 per annum, and net profits •are probably in excess of a4,000,000, annually: This amounts to twice the total capital of the mine, which is In itself a most remarkable record. The milling objective has not yet been reached. It is understood that the next step will be 2,000 tens, which should give an output of $10,000,000 a year and profits of e6,000,000, or $3 a share. When such a step will he made is uncertain, but there is every reason to expect it will eventually be reached and this tonnage will not ex- haust the possibility of still further !expansion. Lake Shore be s bee-. developing wonderfully at depth. The size of its ore shoots combined with the high average •values promice to make Lake Shore a phenomenal earner. It is not yet possible to place ore reserves at the point that will soon undoubt- edly be attained, justifying a 1,600 - on milling program. When probable earnings are translated in terms of dividend, Lake Shore is not unlikely to assume a place of greater promi- nence marketwise than it has yet been accorded. Teck -Hughes is similarly improving its position. The management pro - tepees to open up the min to i depth Of 4,000 feet, and with that end in *iew and sinking a new shaft about 800 feet south of the present one. Such a measure of success has been enjoyed thus far in the extension of development work at depth that Teak - Hughes officials are making a bold bid to probe the ultimate possibilities of the prOperty. The mine is moving in the direction of larger production. !the current year will undoubtedly ring improvement over the 1923 pro- duction record, which is not far short of $5,000,00. There is every indica- tion that 1930 will be a still bigger Pear. Teck -Hughes is running Lake Shore a close contest for leadership. The opening up of six new levels down to a depth of 2,000 feet, which is now getting under way and the pro, liected close on to 4,000 feet will ex- pbse Teck -Hughes capabilities in the Peay of larger prodactiou. There is reason to expect that be - tore fall work on the six 116W levels will have procured sufficiently to jus- tify the, erectioti of another 300 -ton naill unit, which will be in line with the announced policy of the company. ft is also reasonable to expect higher erildheads with the increased tonnage, $o that 1930 should sow a very ma- terial increase over 1928 and 1929. Among the gold stocks there (to not appear to be any in pur opinion that Offer greater opportutlitiee of profit and less probability of less thaa do Teck -Hughes and Lake Shore for a told of several months or a yeer. Howey Gold Minee, Limited, ha t onclittled a most advantagemie con tract for power With 66 HYdroalee. tad Power Commission or °ataxia Whereby it is aesured of a $25 ratt ter ala iUeof the, mine. This igan 'l'ink insisted orteatin everything veith acideVenleat of great importance to, hilt ktua, Vachon of Greenely island faille now northern air.ottvlskit BY LLOYD J. MOORE, Member Standard Stock and Mining Exchange. age widths than in Porcupine. In addition, it is important from an economy standpoint that the ore is confined within two walls and there is no exploring across -the country to pick up shoots of mineralized ma- terial, mining costs are lesseued be- cause there is a comparatively small percentage of dead work. Because of the character of the rock there will be surprisingly little dilution when the time comes for stoping. With over two and a half miles of lateral work done on four levels, Howey is proven as a medium-sized mine. From the Ontario Govern. ment's standpoint it is apparently worth while to make an expenditure of $1,000,000 for a power plant. The rate of $25 at Ear Palls is equivalent to $32 at the mine. This compares with a $65 rate at Kirkland Lake. There is not a mining company in Eastern Canada with the single ex- ception of International Nickel that has such a low rate. Frim a broader standpoint the entrance of the Hydro. Electric Power Commission into co• operation with the mining business is amazement of old Westerners accus- important. toured to travelling tediously over the There will be some interesting de- vielopments in Howey affairs over the next few months. The power contract is a most far-reaching matter, but is not calculated to bring spectacular market action. The mill will be de- livered in time to use water trans- portation before the close of the 1929 season. There will be interesting development new soon after the shaft -sinking program is completed. The second halt of the year should be productive of constructive events in a mine -making sense. Production is about twelve months away, and is dependent on the speed with which the power plant can be completed. Howey has an authorized capital o! 5,000,000 shares of $1 par value, of which 300,000 remain in the treas- ury. It has approximately $700,000 in eash. No further financing is like' I, as there are plenty of funds on hand for Mill construction. With the revival of prices after the disastrots break of Tueaday, March 26th, the minting market made a won- derful reeovery. Conservative invest- ment after a readjustment has taken place should prove prOfitable to the well informed. Plans te, Give Public Health important 13004 THE MEN BEHIND THE MOVEMENT An elaborate health exhibit is to be staged in Montreal in May, to show the results which may be achieved by increased expenditures for publis health, as recommended by the Montreal Survey Committee conerning health conditions. The above three outstanding 'leaders in the public health field are advising: Left to right: Dr. Gordon Bates, General Secretary of the Canadian Social Hygiene Council; Dr. Grant.Fleming, Director of the Depart- ment ot Pubfic Health and Preventive Medicine, McGill University; and Dr. J. A. Beudoin, Director of the School Of Social Hygiene, 'University of Mont- real. Aviation Part of Canada's History J. A. Wilson, Civil Aviation Controller, Ottawa, Dis- cusses Service VALUE TO FORESTS Reviews Airmail Plans At Wesley Men's Club Dinner at Montreal "The history of communication in Canada is the history of Canada," J. A. Wilson, Controller of Civil Aviation of the Department of National De- fence, Ottawa, declared at a. recent meeting in Montreal. On the strength of this supposition, he proceeded to explain the part that will be played by aviation, as shown by what has al- ready been done. Mr. Wilson has been in close con- tact with the entire field of aeronau- tical affairs in Canada since the war and he explained the Canadian atti- tude toward popularizing air travel 46....*••••••••=t;!•,!• •••116.,== • 74"'°"""" LIMERICK CORNER Joyous Jingles By Gifted Rhyinsters The 'Contest is closed. For the time being at any tate, tie Limerick Contest will be discontinued. There is no question, how- ever, about its popularity with readers as we are literally mamma with letters and there are hours of work ahead to get thrigh with those at present on hand. While we are catching up we will be glad to hear from those who have taken part in the contest, or who have found pleasure in following it in the papers. Let us know what you think of the Limerick Corner and whether or not you would like to see this feature continued. On the other hand, if you have any ideas for a feature to take the place of Limerick Corner, let us have them. Editor, Limerick Corner, Associated Publishers, 73 Adelaide St, W., Toronth. Following are the selections for this week :--- CHRISTIE'S BISCUITS lat the last birthday party Hannah's We had oranges, nuts and bananas, We had goodies galore, But we all wanted more When she brought in some "Chrie- tie's Sultantla." Effie McCormick, R.R. No.. 5, Parkhill, Ont. DIAMOND DYES When dOing your dyeing of dresses, To shades which go well with you' tresses, -Use good Diamond .Dyes For In them there lies An assurance of beauty, not guesses. Miss Mabel Whitwell, Jarvis, Ont LEONARD'S EAR OIL There was a deaf Man in Port Royal, Who used Leonard's famous Ear 011, • They say he now hears With both of his ears More than anyone else in Port Royal. Mr. Bruce Rowbotham, Stouffville, Ont, winter trails, suddenly confronted with the knowledge that what they have always required months to accomplish had now become just a day's work in the cockpit of a fleet airplane. It was among people innured to these hardships and delays aviation found its first hold in Canada, Mr. Wilson pointed out. "One of the best uses which Canada has made of air travel," he continued, "is in surveying forests. Rangers formerly saw only the banks of rivers and lakes through which they paddled thee canoes. The forests have in- creased in value tremendously dur- ing the last few years, and the rangers were among the first to see that the expense of operating light airplanes would be justified many times over by increased efficiency. Tb -day, the for- ests are protected in a way that would be impossible with ten times the staff of rangers now employed, working in ,the old way. • To Out -of -Way Places "And this use of airplanes served to introduce the means of travel in all out-of-the-way places. To -day, in the istrict around Red Lake alone there is probably as much flying as and airmail in the Dominion.. "It is one would find on the busiest Ameri- can or Pontinental airport." , In conclusion, Mr. Wilson reviewed the plans being formed for transcon- developing the air services as soon tinental air mail and express routes, as public opinion justifies develop- touching on the difficulties encounter - the purpose of the postoffice depart- ment and other official bureaus con- cerned to keep abreast of the times by ments," he declared. "For a long time after the war, the airplane was looked upon as a great agent of de- ed, and explaining what such a serv- ice would mean for residents of the district of Calgary or Edmonton, struction, and few among the laymen whose mail will reach Winnipeg in believed in the service ability of air- eight hours, Chicago in 16 hours, and craft during peace time. New York or Montreal in 24 hours. Situation Altered "This situation was first altered by the interest among engineers, forest- ers, and prospectors whose duties re- quire that they penetrate to remote parts of the Dominion. Bear in mind, there is only a very narrow strip of Canada that is properly served by railroads, and in other parts, travel has always been and would still be,, were it not for the airplanes, by dog sled in the winter and canoe in the summer. Months were formerly re- quired to make trips now flown in a few hours. A few years ago there were parts of Canada a whole sea- son's journey f •om civilization, and now there does not remain a spot not easily accessible in two clays of lei- surely flying." Many amusing anecdotes aboutafiy- ing in the desolate parts of the Do- minion brightened Mr. Wilson's long address. He told stories about the Society: Monstable Tink Doolittle le slowly recoverin from a badly akintted shin inflicted by Itis wife at the Try And Find °Ern At Horne Club banquet at the Cornhusker Hotel tother nit*. She: I got a dollar apiece for kisses at the bazaar. He: Yes, but I want your quantity quotations, SHREDDED WHEAT There is a young girl they "call Bunny, Whose temper is always quite sunny, For breakfast she'll eat Nothing but Shredded Wheat, With milk, or with fruit, or With honey. Mrs. M. E. Calder, Feuelon Falls, Ont. SALADA TEA •Of strange labels be always sus- picious, Though your groeer may be quite officious,' Say Salada's the tea, Mr. Grocer, for me, For I know that each cup is de- licious. Mrs. Rene Clendening, Markham, Ont. KEEN'S MUSTARD Said a comical jigger named Bus- tard, "Have you ever cussed hard over custard?" We said, "Oh, dear no, e. We'd be shocked to do so, But we're frightfully keen on Keen's Mustard." Mrs.. A. McNeil, 1 Norwood, Ont. DIAMOND DYES If your wardrobe is shabby and • faded, Don't look so heartbroken and jaded, • Your spirits will rise If you use diamond dyes, And you'll look like a queen when paraded. Mrs. C. A. Lemon, Orangeville, Ont. CHRISTIE'S BISCUITS Now I tell . you that Little Jack Horner Is still in the same famous corner, 'But 1 know that he sits • Eating Christie's Biscuits, Not plum pies as in histories' former. ' 1Y1r. J. H. Maittle, Milford Haven, St. Joseph's Island, Ont. CHIPSO A jolty young woman named Crispo Boiled all her clothes with quick Chipso, They were nice, sweet and clean, Just fit for the Queen, So for ever she'll always praise Chipso. Mrs. T. H. Weatherall, Maxwell, Ont. BROCK'S BIRD SEED My auntie, who has a canary, Tried to get it to sing Tipperary, But the bird would not heed Till he gave it Brock's seed; Now it sings night and day for Aunt Mary. Mrs. Claude Bongard, Box 24, Norwood, Ont. RED ROSE TEA There was an old lady named Susan, Who lived in the town Duzen, I drink Red Rose Tea, "That's the reason," said she, I can work while my neighbor is snoozin'. Miss Bernice Hall, R.R. No. 2, Sundridge, Ont. of Van Changing the Face of the North Country NEW SKI -EQUIPPED PLANES FOR COLD COUNTRY Freight serelea by ski-eqUipped aeroplane is inaugurated in northern, Ontario gold fields. ot CASTO RI A One night a young baby was fret. ting, In spite of its kind mother's petting Castoria she gave It It certain did save it, And now nothing else it 'is getting, Mrs. A. P. Knight, Parkhill, Ont. BIG BEN CHEWING TOBACCO SaieJimws wife—"Do you know, my brave fella', That chewing that "weed" makes you "yella"? But of Big. Ben, she swore "You shalhchew more and more Till I get a new purple Umbrella. Mrs. T. W. Hicks, R.R. No. 2, Niagara R.R. No. 2, Niagara Falls S., Ont. DIAMOND DYES If you want to save papa his penny, And make yourself winsbnie for Benny, Diamond Dyes is'a prize That will dazzle your eyes For 'twill make your oldclothes bright as any. • Miss Emma McLean, Maple Leaf, Ont. CHRISTIE'S BISCUITS There was an old lady called Hannah, Who slipped on a rotten banana, She cared not a bit, But sat where *she lit And nibbled a Christie Sultana. Miss Kathl en Welch, Hannabal Street, Blenheim, Ont. BEECHAM'S PILLS After Jiggs has a dispute with Mag- gi, He is generally' quite sore and faggy, Quoth he "Beecham's PIUS Take away other ills, How I Wish they would rid me oi Maggie. Mrs. Harry McDonnell, Clarendon Sta., Out. BEECHAM'S PILLS If you're sickly and weak and don't dare to • Attempt all your work as you'd care • to, Then try Beecham's Pills, They will muall the Ills And the aches and the pains that we're heir to. Mr. n, McCormick, R.R. No. 5, Parlehill,Ont. SHREDDED WHEAT BISCUIT "Ye ma' hae ye'er big hemlocks o' barleyl Or ye'er wee scones o' no parley! But oor toile ha'e ne'er lacked, Whiles they eat the cakes packed Ili the Wheat box," said Mrs. L. Moore, Teesevater, Out. Happy Married Life , The Rev, Alexander Alison, Jr, (First Presbyterian 'Chinch, Bridge. port, Conn.), last' Week conducted a Honeymoon .Reunion in his parish house. One, handred Alisou-married couples attended. Many others sent regrets. The purpose: to discover the secret of a ..happy married Results: Said Banker •Marril Veach: "It's a matter of financial ease," Said Ma. Alistm's Son Valentine: "The secret is to have lasting love" Said Husband Arthur Parker (mare litsele—Rotte0 vied tett years) "Live simply. Don't try to keep pp wt t the Ionesel."