MONDAY APRIL 25TH, 1938 Matachewan â€" Consolidated . Mincs, Matachewan district, reports an estiâ€" mated profit of $33,003 for the three months cunded March 31, 1938, before taxes, depreciation and deferred deâ€" velopment, comparing with $20,502 in the same period of 1937. Production for the quarter was $191â€" 228 from treatment of 36,926 tons of ore, for an average recovery of $5.18 per ton, which compared with $159,749 from 26,529 tons, and average recovery ol Development and operating costs toâ€" talled $158,225, or $4.28 per ton milled, against $129,372 or $4.87. Estimated operating profit was $33,003, as above, against $20,377, while last year nonâ€" opcrating »revenue was $125, against nothing this year. Report for Quarter of Matachewan Consolidated Querterly Earnings of the Coniaurum Mines Co. Q@Quarterly carnings statemers issued Thursday by Coniaurum Mincs conâ€" firmed preliminary estimates of producâ€" tion and operating profits made by Manager H. S Munroe at the company‘s annual meeting near the end of March, and in fac final estimated figures are a little better than then made. Estimated total profit for the three months ended March 31, 1938, was $137,774.78, equal to 5 cents per share on lthe 2,730,447 shares, before allowâ€" ance for taxts, depreciation and deâ€" ferred development. In the comparable period of 1937 profit was $44,8098.53. H. Wittingham, Secretary, points out that the very considerable increase is atâ€" in large part to the fact that in the first quarter ol 1937 approxiâ€" mately $68,000 was expended in shaft, winzeâ€"sinking and_ stationâ€" cutling, whereas ‘no expense was incurred unâ€" der these headings in the firs quarter ol 1938. Tonnage for the period was 46,915 azainst 39,720, from which net income of $405.677 against $336,032 was derivâ€" ed, average net recovery per ton being $8.65 against $8.46. Development .md, oprrating costs were $277,210, or $5,90 | per {on milled, against $308,766 or $7.77 . por ton. This left estimated operating profit of $128.467 against $27,266, to which was added $9.208 nonâ€"operating revenue, inâ€" cluding profit on sale of securities, against $17.,632 from same source in the 1937 perioc PACKING â€" STORAGE CRATING â€" SHIPPING Modern Storage Warchouse Local and Long Distance Moving FREE ESTIMATES Phone 510 Satisfaction Guarantced NIGHTS .â€". . .0. PHONE 1733 Every Load Insured Warchouse Office : 3 KIRBY AVENUE UNITED MOVERS Doherty Roadhouse Co. Members Torontyo Stock Exchange STOCK BROKERS Timmins, 19 Pine Street North Toronto Kirkland Lake 293 Bay Street 34 Government Rd. Direct Private Wires for fast and accurate quotations and executions in all Market Quotations Broadcast cach day at 12.20 noon and 5.20 p.m. Accurate Markets and Executions in Commission basis only Local Phones 1200 and 1201 Mining Stocks â€" Industrial and Public Utility Stocks Bonds Unlisted Stocks Kerr Addison Gets Loan to Finish Mill New Ore Body Indicated at Larder Lake Property. Kerr Addison Gold Mines Ltd., is scheduled to commence production at May ist, annual report to shareholders advises. The cost of bulding the plant has exceeded original estimates and has necessitated negotiations of a loan of $250,000 which is repayable out of first earnings. There has been incorporated Kerr Addison Propertics Ltd., to which surâ€" face right on 9085 acres have been transferred, covering the townsite of Virginiatown, on which 250 lots have been laid out. A number of lots have been sold which will provide funds for installation of a water and sewage plant. As at Dec. 31, 1937, there had been expended $567,143 on buildings, plant and equipment; $574.381 against deferrâ€" ed expenditure; $534,326 cash was on hand; $26,413 advances which are reâ€" coverable and $27,500 deposited for power contract. Current liabilities were $138,136. There are 4,719,401 shares isâ€" sued. At the yearâ€"end ore estimates had greatly increased over a year ago. Thercare estimated 937,363 tons in the main orebody to 500 ft. depth, assaying $6.33 cut value. There are 146,842 furâ€" ther tons assaying $5.03 cut value in the footwall tuff, making a total of 1.084,205 tons to 500 feet, grading $6.16 cut valuc, or $9.36 uncut value. Diamond drilling 1,200 feet cast of the main orebody intersected 25 feet averagaing $5.19, and anocther hole 100 feet westerly cut 15 feet of $7.93 cut value. These holes indicate an orebody "horth of the Reddick workings. The two shafts have been connected on the 300, 500 and 700 ft. levels. No. 3 shaflt has been sunk, completed to 793 {ft. depth in January. Earnings of Dome Mines for 1938‘s First Quarter Farnings o[f Dome Mincs Limited for the three months ended March 31st, 1938, amounted to $1,097,776, or just unâ€" der $1.13 per share before provision for depreciation, deplction or surplus adâ€" Justments, as compared with $1,111,326 or $1.14 por share in the corresponding period of last year. During the quarter under review the company treated the highes¢t tonnage cf ore for any three months‘ period in its history, while grads of ore milled was reduced slightly. The mill handlâ€" ed 147,400 tons as against. 146,800 tons in the preceding three months, while production was valued at $1,845,158, or $12.52 per ton. Operating, development and goneral costs were equivalent to $4.45 a ton, compared with $5.068 per ton in the March quarter of 1937. In last year‘s period, however, heavy deâ€" velopment expenditures were incurred in connection with work in the No. 6 shaft area, all charged against operaâ€" tions, and this increased costs away above the average. PLANNING TO ESTABLISH LIQUOR STORE AT GERALDTON Geraldton, the new town in the Little Long Lac mming area, is to have a government llquor store. A site for the new store is now being sought. Tribute to Worth of the Lone Prospector Frank C. Loring, Oldâ€"time Mining <~Engineer Gives the Prospector His Due. (From Globs and Mail) If, now and then, we inject into this column a personal note, we expect to be forgiven, and so today we acknowledge receipt of a welcome letter from Mr. Frank C. Loring, dear of Dominion mining engineers, who dates his exâ€" periences back to the early days of the Cocur d‘Alene region in Id4ano and the subsequent movement to Rossiand in British Columbia, where he was partâ€" owner of the Josie Minc, later Le Roi No. 2 Mining Company, and from which he g‘leaned a respectable forlunz. For some time, due to failing eyesight, he has been ronfined to his Toronto home, but every morning his loyal helpmate reads to him the mining news of The Globs and Mail, of which, in his letâ€" ter, he says: "You are doing a noble work for the cause of mining in the North country, and I certainly conâ€" gratulate Mr. McCullagh and you." Back in the sarly days of Rossland, when the beginnings of the great Trail smelter were under construction by the copper magnate, F. Ausustus Heinze, of Butt, Montana, the only means of reaching Rossland, high up above the Columbia River, was by stage up a steep gradc, and the conveyance was usually crowded to the guards. Often the mail, then the lzsast important part of load, was left urcil space not needed for paying customers couid be found. It was then the writer met Frank Lorâ€" ing, and it was then that a friendship thas has lasted over forty years comâ€" menced. In the goodness of his heart he took the writer‘s heavy roll c blankets up the hill on the stage, perâ€" mitting she busted pilgrim who now sits in an 2ditorial chair in Toronto to proâ€" ceed unburdenci4 skyword, with his wellremembered fox lrorrier, Nipper, frisking arousd him. Frank Lorinz has not forgactten what Pe ard the rest of us owe to the prosâ€" pector, the "Unwritten Hers," and so encloses a tribute which we believe will prove ample excuse for this deviation from the usval run of editorial matier. He says: "We justly pay tribute to the sucecssful engineer, financier and scientist. _ There is no stint to the praise paid to men prominent in these and other branches of business and science. â€" Their position in the growth and prosperity of the country is unâ€" quzestioned. There is no nccessity for paying further tribute to what they have accomplished. There are many Boswells to sound their praises. "I is the unwritten heroâ€"the Lone Prospectorâ€"to whom more honour should be given. While the promoter or the capitalist is enjoying the many comforts and Plcasures of she world, and is arrogating to himsel{ the laudaâ€" ‘ian and the praisc of his fellows, the. prospector in his lonely shack, bearing th» hardships of cold and heat, is doubtless dreaming of time when he will be able to enjoy the luxurics of the cities, for a few wecks or months, and the glorious days when, with a full purse, he will be as good as the best. The fact that to him is due the initial step which finally results in all this prosperity, appears to make little differâ€" ence. Whils the few hundred dollars given him by the promoter or cap‘‘alist, are being spent, he cares little. He has no flatterers to stimulate him, no priess agent to advertise him, but is sustained simply by his own inâ€" courage and optimism. . His motto is ‘Nil Desperandum.‘ The greal mines with their wealth, the prosperous towns and farms of the North, are a final result of his usually unrewarded effo‘‘s. He is the true Empireâ€"builder. Let us recognize this and confer upon him the honours he so richly descrves." And we are quite sure that prospecâ€" tors, â€" engincers, promoters, scientists, capitalists and newspapsrmen over A great part of the North American Conâ€" tinent, will join with us in wishing Frank Loring complete restoration to health and many more years in which to boost the great industry of prosâ€" perity and optimism, as he has done in all the years that are gone. (From The Northern Mincer) It is likely, The Northern Miner unâ€" derstands, chat a decision will be made soon as to future work on the Wright property adjoining Buffalo Ankerite on the north and Paymaster on the west. The crosscuiting and drifting in the Wright claims from the Buffalo Ankerâ€" ite have completed, and it is unâ€" derstood overturesâ€" contemplating purâ€" chase have been made by Paymaster. The question now appears to be whether Wm. H. Wright, the owner, will sell or continue private development. No deâ€" finite information on this matter was available this week. Paymaster Making Bid for W. H. Wright Claims Credo Porcupine Gold Succeeds the Arcadia The Credo Porcupine Gold Mincs, Ltd., is a new company, embracing all the glamor of old developments. It succeeds the early stakings of the Triâ€" plex or Arcadia Gold Mincs, which was involved in litigation extending over 13 ycars. Numerous engineers‘" reports have been preparedâ€"on the old ground, all of {favorable nature, and it has been suggested as one of the best undeâ€" veloped propertics in the Porcupine camp. â€" Holding 1400 acres, the new Credo is in Shaw Township, ten miles from â€" the Domeâ€"Hollinzerâ€"McIntyre St. Mary‘s Journalâ€"Argus:â€"Ladyâ€"It must te very hard to keep time on this ship. Sailorâ€"How is that? Ladyâ€" Woll, I just beard the captain say he uses four watches at night. Bralorng ... . Buffalo Ankerue se Canadianâ€" Malartic . Castle Tretheway ... sntral Porcupine ... Central Patricia ... Coniagas Conijaurum ... Con. Chibougamatu . Darkwater Eldcrado ..... |...........0.0. Gillles . .....;:.... GoOIdalG: Granada ...............22 Gunnar ... io HardroCk Hollinger ... HLOWEBY _:..2.. issc Hudson Bay ... Int>rneiional Nickel ... Jackson Manion ... Kerr Addison ... o Kirkland Lake ... Lebel Oro ... mJ nc\ Lelitth °............ T Lake Shore Lee GOld Little Long Lac ... MACAESH® Sssc cesmm McLeod Cockshutt ... Manitoba and Eastcrn MCINtYITQG McKoenzie Red Lake . McVittie Graham ... Mining Corporation ... Mcneta ... Tt ie NAYDOD Nipissing Noranda ... e Faymaster ... Pickle Crow .......0.00. PiONCCOF ... 222 Preston East Domc ...... PrCMICP Read Authigr ........... FOCHO| :; sls css es en y n San Antonio ... Red Lake Goldshore ... Sherritt Gordon ... St, Anthony ... Sullivan Con. ... 'Subury Basin ... ... Bylvanite ; . Teck Hughes ... ns +. Wrigr, Hargrcaves ... Tan new fire alarm boxes are to be installed this week at Kirkland Lake, bringing the total number of boxes in that town to 46. TO INSTAL TEN NEW FIRE Open Highway North of North Bay May 31 Without any: "dipping. diving and curving." the improved section of the Ferguson Highway north of North Bay, wider and with a crushed rock surface, will be open so traffic May 31 of this year, District Engineger C. Tackaberry, of the Ontario Department of Highways states. "Thr improved road will be quite passable and in good condition by May 31," Mr. Tackaberry declared. ‘"The work is progressing exceptionally well and the road will be reopened by May 31, as stated before." The highways official dispelled any doubt that the presers improvement operations would be completed by May 31, as stipulated in the contracts. Mr. Tackaberry expects the work will be completed by the latter part of May, with the possible exception of a small stretch near Tilden Lake, where it might be necessary to continue operâ€" ations for a bricf period. ‘"We might have to use the old road for a time in places," he stated. Reconstructed Section to be Thirty Feet Wide, District Engineer States. The "reconstruction" of the Perguson Highway north of North Bay has been in progress during the winter months and spring. The work has consisted chicfly of grading, widening and straightening the route. "We think it will be a beautiful road," the district The highway will be 30 fee}k wide with a full width over culyerts. There will be only three bridges in this secâ€" tion, one at Duchesnay Creek, one at Tomiko and one at Martin River. Mr. Tackaberry said that road condiâ€" tions in the district are rather bad at the present time, due to the recent heavy rains which have brought the frost out of the ground. "I‘s a scasonal condition,‘ he said, "and we can‘t buck the elements. Howâ€" ever, I think that in another week or two the roads will be in good condition again. I am sure that moet motorists will understand what we are up against at this lime of the year and will be patient for the next wetk or so." The official gave it as his opinion that 48 hours of fine weather would clear up the condition between Warâ€" ren and Hagar. "The road on this section is ncé closed to traffic, but we are discouragâ€" ing traffic unless it is necessary," Mr. Tackaberry declared. "If a car has to get through, we are putting £ through." Only Three 14.75 47.00 ... 144 . 4.10 :402) 13‘ s ; Results at Martin Bird and 36: Barber Larder Mines of 40â€" Much Interest. 5.15 44 3.15 2.29 5.30 87 Busy Year Ahead for Larder Lake Region Larder Lake, April 23.â€"Larder Lake arca of Cntario will be one of the most active mining districts in the Dominion this year, judging by activity 6f practically all the major mining companiss in camp and the clip at which construction of new buildings and houses in the town of Larder Lake itself is porceeding. Town now boasts a population of 1,800 and this figure may be doubled before the cnd of the summer... Ontario Highways Deparâ€" ment has also coâ€"operated by improving the main highway as weli as the key roads to the mines. Interest this year will contre mainly on the underground resu‘cs at Barberâ€" Larder Gold Mines: and Martinâ€"Bird Gold Mines and drilling results from several of the other mines in the camp. Interest will also be shown in operation of the Kerrâ€"Addison mill, which should be turning over in the near {ucure. Shaftâ€"sinking at Barberâ€"Larder has reached depth of 250 feet, according to J. J. Harris, consulting enginger. Thirâ€" tyâ€"five sets of timber as well as the reâ€" quired pips lines have been inslalled. Present plans call for running short crosscuts to the ore zone on the first two lovels before shaft is continued to 550 feet. Loteral work on the first two levels will be well under way by end of April or carly in May. Diamondâ€"drilling in the shaflt secâ€" Head Office:; SCHUMACHERâ€"Phone 708 79 Sixth Avenue PHONE 1601â€"1602 e P P EC 58 THIRD AVENUE Golden Avenue 31 First Avenue COR. SECOND AVE. BALSAM ST. Home modernization can still be financed under the Home Improyement Plan. See your local bank. The George TAYLOR HARDWARE â€" Limited FELDMAN TIMBER COMPANY LIMITED COMPLETE STOCK OF INSULâ€"ATED SIDINGS CARRIED BY PORCUPINE HARDWARE GEORGE D. HAMILTON Drilling is now provseding at Chemâ€" ‘ inis Gold Minecs and results to date are enc3uraging from a structural viewâ€" i point. Indications within the 900â€"foot zons so far explored to presence _of good commercial ore tonnage. GENERAL CONTRACTORS SUPPLIES tion indivated continuous ore for 806 feet, ocstimated value hbeing $7.06 across average width of about 35 feet. Grade was arrived srâ€"after reduction of numâ€" crous high assays. Minc Manaser D. M. MacPhail o(; Martinâ€"Bird Gold Mincs states that the | new wost shaft is being compietecd and drives into the west ore zone proceedâ€" ing. D.amondâ€"drilling in (his section indicatrd important tonnages of good , commcorcial grade ore. Foliowing comâ€" f pletion of the west shaft, more intenâ€" sive underground development will get unde: way. Tovarich La:der Gold Mines will proâ€" coer with diamondâ€"drilling campaign as soon as drill arrives as the property, acrording to J. J. Harris, consultant, and m recommends that company‘s holdings be thoroughly mapped and geologized as soon as weather condiâ€" tious peormit. In the meantime sufâ€" ficiont dria is availab‘sc to proceed with diamendâ€"drilling. Further deep drilling within the zone has bocon recommended and at least 6.000 more will be necessary before shaftâ€"sinking is contemplated. Diamondâ€"drill holss Nos. 29 and. 30 have spoited, and it is hoped Wwill pick up the westward extension of the new south vein, belicved to he the conâ€" tinuc./ion of the Omega body, as well as the main vein. Two drills are in operation at Pelâ€" angioâ€"Larder CGold Mines, where work is being financed by private capital schedule calls for 10,000 feet of drilling Sold by the following firms STOCKED AT THE WAREHOUSE OF 19A paRE : | ;;‘k].(;i::‘ t The exterior of any olderâ€" sn . _ type house. can beâ€"so ecasily y in y j PM e _ and inexpensively modernâ€" ‘35#‘_‘?‘: - hk P aanonn® ized with B.P. Insulâ€"Ated . + Sidings. Yes, and new homes too, can be built at less cost and with better appearance. B.P. Insulâ€" Ated Sidings not only Improve the outside, but they also Insulate the inside â€" for back of the attractive weatherâ€"resisting surface is Insulâ€" Board, the moistureâ€"proof insulation. Available in many styles and colours, Insulâ€"Ated Sidings protect, enhance the value and improve the appearance of every house. Fireâ€"resisting â€" permanent in colour â€"â€" fuel saving â€" repay the cost by the savings effected. Ask any hardware, lumber, or building supply dealer for complete information, BUILDING PRODUCTS SOLD BY Asphalt Shingles â€" Roofings â€"â€" Insulating Boards, etc. PLANING MILL AND OFFICE "WE SERVE THE NORTH" NO UPKEEP COST â€" NO REâ€"PAINTING sSOUTH PORCUPINE MILL AND OFFICE, SOUTH PORCUPINE J. P. ROY SCHUMACHER ‘TIM MINS Brokerage Offices Will _ Open and Close Earlier ‘Colncident witit? the change to dayâ€" light saving time in Toronto and New York, local brokerage offices will com=« mence toâ€"day listing transactions on the board at nine o‘clock in the mornâ€" ing instead of ten, while the closing hour: will be 2 p.m. instead of three Unlisted quotations will be reâ€" ceived from 8.30 a.m. until 3.30 p.m. Asking for the Present Address of Sandy Cummings Hcn.â€" W. Asselstins, Minimver of Mincs for British Columbia, has been ecndeavouring to get. in touch with Sandy Cummings, who was last heard of in Timmins. In the hopes of getting the address of Mr. Cummings, Hon. Mr. Asselstine has asked The Advance to locsate the gontliecman if he is still in Timmins or district. If this should meet the cye of Mtr. Cummings he should get in touch with Hon. Mtr. Asselstinec, and if he has lefs the Timâ€" mius area and any of his friends know his address they will be conferring favour on all concerned by aropping note to Hon. Mr. Asselstinge or to The Advanct. H. McKinnon, M.P., officiated at the formal opening of the new post office at Sioux Lookout. Hon. Pelter Heenan, Minister of Lands and Forests in the provincial government, and other disâ€" tinguished visitors were also present at the opening. The new post office is deâ€" signed to facilitate the handling of mail for the mining camp of Red Lake. SIOUX LOOKOUT POST OFFICE Mill Office:; FTIMMINSâ€"Phone 709 103 SPRUCE ST. S. PHONE 1425 PHONE 221 PHONE 748 PAGE FLVE Phone 422