Timmins Newspaper Index

Porcupine Advance, 28 Feb 1917, 1, p. 1

The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

The larger part of the ground floor will be oceupied by the municipal ollices and council chamber, the whole ; Front being thus used. The large iroom on the west side will} be the Council Chamber, and the Clerk‘s office will be the front room on the east side. x â€"IHE PORCUPINE ADVANCE The 253rd Mighlanders‘® Battalion who opened a recruiting office in the old municipal building have made arâ€" rangements to remain there, the Council loaning them a stove to help to that end. The new municipal quarters will be much more suitable for the purposes required than the old ones, the steam timng allowing use of all the rooms $ ensuring comfort in winter weaâ€" ther as well as summer. FINE NEW QUARTERS â€" OR TOWN COUNSIL Municipal Offices Being Moved to Courtemanche Building, Next Advance Office Mr. Morris Williams is leaving the Hollinger mill staff to take the posiâ€" tion of mill superintendent at the Sehumachor Mine. This morning a start was made on the removal of the municipal offices From their present quarters to the Courtemanche â€" building on Fourth Avenue, next to The Advance Office, and it is expected that by night the work of moving will be completed. The new quarters of the Municipal Council will have the advantage of heing both commodious and > well heated. ‘They are flitted and equipped in modern fashion, the finish being upâ€"toâ€"date and the heating being by steam heat. showing at depth, over 69,000 tons of the total tonnage mined to date hayâ€" ing come from below the 425â€"foot level, the lower levels showing much richness. Indeed, as some of the miners who know the mines would say, ‘"‘the deeper you go at the Holâ€" inger the better the gold."" The manâ€" agement, however, as in previous years make very conservative estimates reâ€" varding the ore reserves. In estimatâ€" ing the reserves the company uses the actual measurements of the ore in place, but a certain amount of waste rock is bound to mingle with this During the year 604,062 tons of ore were hoisted from the mine, eontainâ€" ing $5,341,000 in gold. Despite this, however, the mines are able to show a greater value in reserves than a year ago. In addition to this gratifyâ€" ing fact, it is also unportant to note that the seareity of labor and materâ€" ials prevented anything but a limited amount of work below the 425â€"foot level. As is generally known, the Hollinger makes a particularly good explaining that operating costs have ereased 50 conts per ton, labor is searce aml a certain amount of restâ€" lessness is noticeable in the labor market, making the situation one for consideration and eare from the finanâ€" cial standpoint. When the. merger was completed last June it was estiâ€" mated that operating profits, would be $290,000 every four weeks., bhut the be $290,000 every four weeks, but the labor shortage and the increased eosts of materials offset this and the profits did not reach this figure. In view of the fact that the mill capatity is beâ€" ing increased from 1,700 to 3,500 tons per day, however, much gréater proâ€" its will be available to more than cover the full dividend as soon as more normal times and conditions reâ€" turn. ‘The matter of cutting or passâ€" ing the dividend for a month or two will come before the shareholders in a dav or two for final decision. y jpmssing 1t alf or two until the ditions in Jabor themselves. The annual statement explaining that â€" just been issued and contains imu **(O)n the street more or less talk eutting the month or passing it altos The annual statement of the linger Consolidated Gold Mines, ited, the greatest gold mine in the ereatest gold ceamp in Canad Hollinger Mine Production Over $5,000,000 in 1916 ANNUAL STATEMENT SHOWS RESERVES GREATER THAN PREâ€" VIOUS YEAR. SHORTAGE OF LABOR AND MATERIALS HAMâ€" PERED PRODUCTION. MILL CAPACITY BEING INCREASED TO 3,500 TONS PER DAY. reet"" there has been talk of the Hollinger nthly dividend in two iItogether for a month hly drividend in two wether for a month unprecedented conâ€" and material adjust management in their touch on this point, iinp in o the mine in thl i Canada, h shareholder cenet inter have Ho this, A41M1~ The uncertain stock has been playing tricks recently with the quotations for Hollinger Consolidated stock, but it has only been the stock market quotations that have been affected. The difficulty of maintainâ€" ing production on the large seale planned, owing to the abnormal marâ€" ket eonditions in labor and materials coming as the war progresses, has had its effect on the quotations for Hollinâ€" ger stock, but everyone here knows that the Hollinger has such reserves of ore and such a strong position as a mine that even the quotations must ecome back to their former high mark. The conservative. statements of the company in regard to the possibilities of their mine may tempt people at a distance in eases like this to underâ€" estimate the mines, but those on the ground know its unheralded strength. As an indication of the position of Hollinger stock here in the Camp, where the people know, it is interestâ€" ing to note that A. 8. Fuller Co. report large orders to BUY the stock for local people, but not a single orâ€" der to sell. Other brokerage firms have had a similar experience. No far as can be learned not a single share of stock held locally has been putâ€"on the market, wlule large buying orders are not unecommon. This is the opinion of theCamp on Hollinger and it evidences the faith, wellâ€"foundâ€" ed. that the people who are ‘‘on the ground‘‘ have of this wonderful big mine. rents :. :. .l Interest and (‘\(-lumve Premium on shares sold Profit on sale of War J :.;. smcs kess onl y ... Depreciation Dividends $5,054,0601 Operations of the company and the individual companies comprising â€" it since the beginning of their active career have been $15,754,322 in total income, while $7,456,000 has been paid in dividends. Interesting Sidelight on the Opinior of the People ‘‘On the Ground.‘‘ The following is a brief statement of the income of the company for the pasi year:â€" Gold and silver produced . .$5,.073,401 Operatingz _ dwellings _ and The disposal fullows :â€"â€" Operations ... tal technical deficit of $269,590. The 120,000 treasury shares sold to shareâ€" holders at $6.50 per share, yielded $780,000, which enabled the company to pay their indebtedness at the time and reduce the deficit by $60,000. _ Of these shares over fourâ€"fifths were taken up by the Canadian Mining and Finance Company. NO SELLING HERE â€"OF HOLLINGER STOGK crease the tonnage and to reduce the value per ton a little. The Manager estimates the ore reserves at 3,038,540 tons at an average value of $8.08 per ton in gold, but as their experience in five years‘ operations has proven the dilution by waste to be about ten per cent., the present reserves on the conservative estimate of the manageâ€" ment â€" will probably yield 4,300,000 tons averaging about $7.75. The ‘annual statement reports all underground developments as highly favorable, and it is suggested thai normal times will see increases in total ~values of ore much beyond those contained in the present estiâ€" mates. Profits for the year ending Feb. 1st, 1917, amounted to $3,006,409.07, of which $180,000 represents the premiâ€" um of $1.50 per share upon the 120,â€" 000 shares of treasury stock sold last year. _ Dividends were $3,126,000, thus causing a deficit from operating profits of $119,590.33, to which must be added the $150,000 written off for plant and depreciation, making a toâ€" tal technical deficit of $269.590.. The when mined, snd the effect crease the tonnage and to rt of this income was as 102 TIMMINS, ONTARIO, WEDNESDAY, FEBRUARY 28th, 1917. . $2,134,538 144,063 150,000 . 3,126,000 $5,554,601 180,000 2,062 269,590 20,127 t 1inâ€" Mr. G. C. Bateman, manager of the La Rose Company, arrived in Camp on Monday night and will spend sevâ€" eral days looking over the Maidensâ€" MceDonald mine, Deloro ‘Township, now under option to the La Rose people. â€" Drifting operations on the Maidensâ€"MeDonald are being pushed from the 100â€"foot level of both shafts and results are said to be very satisâ€" factory. Clarence R. Pope, president of the Tommy Burns Gold Mines, Limited, is in Camp and will spend most of the week on the property to complete the final arrangements for the shipâ€" ment of the ear of highâ€"grade ore being sent from the mine. The head affice of the holding company is at No. 1 Wall Street, and the operating company is opening offices in the Conâ€" naught Hotel, South ~Poreupine, a shipment of furniture just being reâ€" ceived for that purpose. Following the finding of gold in the Townships of Cairo and Powell these townships â€" have been â€" transferred, along with Flavelle, Willison, Alma, Holmes and part of Baden, to the Montreal Mining Division, instead of the Temiskaming. This is for the convenience of prospectors who find Elk Lake a more convenient centre than Haileybury. the w the fi ment being Since the beginning of this year over $133,000,000 in gold has been transferred by way of Canada to J. P. Morgan and Co., New York, for Great Britain‘s aceount. Mr. Maurice Summerhayes, manaâ€" zer of the Poreupine Crown, has just returned from Tashota where he has made an examination of the Tashâ€"Orn Gold Mines property for Buffalo inâ€" terests. This latter company controls about twentyvâ€"five properties in the Tashota and Kowkash districts. Under the auspices of the Choir of the Methodist church, Iroquois Falls, there will be a hg concert in the hig Paper Mill Town on Monday evening, March 5th, at eight o‘celock, proceeds in ad of the Parsonage Building Fund. ~Mr. 8:.~G> McCoubrey, Mayor of the town, will occupy the chair, and an unusually good program is promised. Among the items of special interest are selections by the Timmins Male Quartette, choruses by the choir, solos by. local talent, and a number of readings by Miss Fluker, graduate elocutionist,. of Pemhbroke. The Methodist church choir at lroâ€" quois Falls has an increasing reputaâ€" tion for doing well whatever it atâ€" tempts, and so there is every reason to expect a very successful and pleasâ€" in# event on Monday evenimng. Spectacular showings are said to have been found at the 500â€"foot level at the Kirkland Lake Gold Mines property. The holdings of this propâ€" erty were recently purchased for $308,000, a payment of $75,000 being made last week two or three days before it fell due. In Aid of the Parsonage Building Furd on Monday, March 5th. . Timmins Talent Assisting. Diamonmdl drilling is still continuing at the Keora Mine in Whitney Townâ€" ship, and it is stated that the work is proceeding with very good results at depth. This property has been very favorably considered by mining men, but no underground work was atâ€" tempted. â€" The holding company was incorporated some years ago, and the control has been held by Mr. \Wm. (Giunton, â€" Toronto. _ We understand that Mr. Robt. Gamey, M.P.P., and associates, have secured control, and it is through their efforts that the present diamond drilling has been done. Capt. Anchor is consulting enginâ€" eer at the Keora. vhe ofa vie Robt. Gamey, M.P.P., and Associates Now Sz2id to be in Control. GRAND CONGERT AT ROQVOS FALLS * *4 * 4* vie e *a vie oe oi vie vhe ote vhe vie ofe KEORA PROPERTY 19 PROMISING DNE Notes, Comments and Opinions Of Interest To Mining World oBe ole ie ohe aBe oTe ole ate ols oBe oo oho »Be oBe oo oBe on ohe oBe oBe ofe aTe e ahe ofe 2 le ohe vhe oto ote ote ato she ohe oo oo ote oho ho ie ote ote ohe se " The MeRae Gold Mines, Limited, will shortly be listed on the Standard Stock and Mining Exchange. The Company cowns> 92 acres in Deloro Township. J. G. Meyer is president ; R. Bigley, viceâ€"president; J. L. Bigâ€" ley, secretaryâ€"treasurer; and J. B. Kitchen, Toronto, and Dr. T. C. Meâ€" Laren, Cobalt, directors. â€" This comâ€" pany was incorporated about a year ago, and (the capitalization is $2,000,â€" The people of the North Land are quite ready to put up with inconvenâ€" rence and loss ‘‘ton account of the war,‘‘ but if there is any way in which a proper train service can be maintained on this important line they want i6 so maintained. ‘The careful attention and consideration of the management of *‘The People‘ Railway"‘* is directed to this. mattes in the interests of the people. If the change for the worse is not absolutely imperative and unavoidable, a better service should be provided than that outlined as to go into effect on Satâ€" urday or Sunday, for it means much to the progress and upbuilding of the whole North Land. Offcials at the ‘P. N.O. station here at the time of going to press said they had no official notice of the change. The report of the changes, however, ecame in the first place from such a source as to give it general credence. â€"It is to be hoped, however, that ‘"‘the People‘s Rarlway‘‘ will make a desperate effort to supply the people with something better than the sideâ€"tracking proposed in the new timetable. At the Davidson mine from 6 to 7 inches of remarkably rich highâ€"grade ore has been cut on the 100â€"foot level on the erosseut which was being run to the foot wall of the xein. _ The values run several thousand dollars to the ton, it is said. The Vipond merger with the North Thompson is now officially complete. The details of the amalgamation are as announced in The Advance some weeks ago. _ Twentyâ€"five thousand shares go to the Vipond companies, bringing the total issue up to 1,125,â€" 000 shares, which is equal to the North Thompson. Shareholders reâ€" eeive share for share in the new comâ€" pany to be known as the Poreupine V. N. T. Gold Mines, Limited. Important results are reported from the diamond drilling on the western half of the Newray property. At a depth of 104 feet a quartz vein four feet wide, showing visible gold, has been struck, and in addition the diaâ€" mond drilling has proven that the property earries the formationâ€"the basaltie or earbonate schist and the porphyryâ€"which has already> been productive to a large extent in the big mines of the Poreupine. At the Croesus .the practice is to sort out the highâ€"grade from the hoisted rock. Nince the resumption of operations about two months ago, it is estimated that the rejected ore amounts thousand tons and this ore will riin $40 in gold to the ton on an average. There is some rumors of the Croesus putting in a small Nissen staimp mill, but for the present the production will be to highâ€"grade shipping ore. The latest story regarding train service, or lack of service, for this district is to the effect that two trains a day will be cut off this lineâ€"the train now leaving here at 1145 a.m. and the train reaching here at 10 a.m. This will mean that anyone wishing to go to Toronto, for instance, will have to leave here on the early mornâ€" ing trainâ€"at 6.15â€"and at that there will be a wait of some hours down the line for connections south. It also means that the only mail from the south will reach here at 10 p.m.. and so will not be available until the next morning. _ Timmins people will be reading Toronto papers two days old in the summer time and three days old in winter weather when the train service freezes up as it did usually ts winter. Report of New Train Serviceâ€"or Lack of Train Serviceâ€"Suggests Serious Inconvenience. 16 TRE NORTH LAND 10 Bf SIDFTRAGKED ? 2e 2Ps 2¢a 224 16 74 924 a_e 4 0 4* a° s‘ s *a aÂ¥s a*s Pa *4 * .‘ '.‘ '.. ..‘ QOA Â¥,** Paln this ains the BOARD OF TRAGE MAS ~â€"â€" BANQUET About forty business and profesâ€" sional men and others sat down to the attractive banquet provided by the Board of Trade on Thursday evening, and there 1s practical unanimity that the event was a suceess. ‘The banâ€" quet was held at Laprairie‘s Hotel, opposite the station, and a very pleasing dinner was provided for the guests by Mr. Laprairie, who had everything â€" upâ€"toâ€"date and spotless and who made a name for himself by the abundanee and quality alike of the good things on the tables. Mr. ‘F. F. King, President of the Board of Trade, was toastmaster for the evening and did the honors with tact and erace. ‘‘Ourâ€" Town‘‘ was. proposed by Mayor J. P. MeLaughlin, who illusâ€" trated the progress of the town by reference to a photograph taken five years ago of the ‘‘prineipal business street of Fimmins‘‘â€"Third Avenue, he saidâ€"and one of the same *‘ prinâ€" cipal business street‘‘ toâ€"day. A few poor buildings, many trees, some stumps and much mud,â€"then!â€"Now, lines of wellâ€"kept, modern business places and all modern conveniences. The loyal support of the citizens had built the town to its present greatness. said the Mayor, and the same earnest support would assure even greater The first toast, ‘‘Canada and the Empire,‘‘ was proposed by Mr. D. Ostrosser, former president of the Board, in a reat speech. â€" Response was made by Mr. 8. Kennedy, Reeve of Tisdale, who spoke at length on the greatness of the Empire and the opportunities of Canada. The Emâ€" pire, he pointed out, was the mother of all free parliaments, and the greatest empire the world had ever seen. ~He touched on the growth of the Empire from its early history to the present, and speaking of Canada, voreed the behef that great opportuâ€" nities were before this country. He renounced his former political allegiâ€" ance, denounced all present political partizanship, and announced that he was of no party now, but for the people. His address, of course, was full of Irish wit and humor, and he had some sport for a time ** toasting"‘ the lawvers. PLEASANT SOCIAL EVENING WITH PORCUPINE MASONS About seventyâ€"five couples enjoyed the pleasant social evening and danee given by the Porecupine Lodge A.F. A.M. on Monday evening in their hall at Golden City. The evening throughout was a very pleasant o for all who enjoysed t~e hospita‘ of the Poreupine Masonice brethr A large number were present fr Timmins, South Poreupine, Schums: er and other district points. Appe‘ : orchestra furnished the best of mu> « during the evening. Tables were set upstairs. and all enjoyed the good reâ€" freshments served. Interesting and Inspiring Addresses by Mr. J. W. Mahon and Others. office, together witl If the team finish« fee will be return wvill be turned ove Fund. dat fro; course 1 petition, ble priz« donated donated hby team harne entries must hbe ; Thursdav. Mareh with the same team and outfit that Dr. Melunis also briefly but wittily responded to the toast. ‘‘Ourâ€" Town‘"‘â€" was proposed by weLkKk will 111 Date of Dog Team Race Changed to March 10th GLOBE SHIELD IN COMPETITION; CUP BY DR. MOORE:; SET OF DOG HARNESS AND OTHER PRIZES. SUGGESTED COURSE. ENTRIES MAY BE MADF AT ADVANCE OFFICE. SOME OFP THE RULES. ite of the Timmins Dog Team Race ‘om March 3rd, as announced last eek, to March 10th.. The big event ill consequently be held on Saturday, arch 10th, and all should bear the ite in mind. m harness and oths The entry fee will t mons 11 ha must dfinis (Continued on page 5.) almonsg cithe. t( and in mAE with the LAge" lobe Shiel adildition o mAde M lney may Deé The Advanece ie ftee of $5.00. the course this Otherwise it o the Patriotie be $5.00, and not later than to change the prizes her valuaâ€" 10 orâ€" comâ€" will "of "n”()\\'- Up to the time of going to press, the total amount received in pledges by the Poreupine Consolidated Patriâ€" otie Fund for this year was $35,000. This includes the whole district and the mines and the employees of the mines, with the exception of one of the largest mines from which the reâ€" turns have not yet â€" been received. There are, however, several other large contributions expected, and it is conâ€" Asâ€"a sequel to the case against Frank Seullino, Moneta, for having liquor and liquorâ€"making materials in is house, Provincial Officer Ackroyd preferréd a charge against Palamaro Glorino along similar lines. The case came before Police Magistrate Atkinâ€" n on Thursday, and Glorino "was d $200 and costs or the usual) in . jail. _.The charge agginst _no was withdrawn. > _arley Wung, whose place was ded by the police recently, was rged with unlawfully having opiam possession. To this cbaxgp he aded guilty, and as a consequenee limmins, to the Poreupme Crown Mine; Poreupine Crown to Imperial; Imperial to Standard; Standard to Dome Lake; Dome Lake to Dowres Dome to South Poreupine; South Porâ€" cupime "to Schumacher; Schumacher to Timmins. Teams may take any road they wislh between these points, but they must check at these namwl points where judges will be stationed. The course is about 14 miles. Liverymen, companies, and the genâ€" eral public sre asked to give the dogs the right of way during the race. The event is expected to be a hss and interesting one, and one g#enâ€" ing, March Gth, and a handâ€"picked Timmins team will on that evening try conclusions with the allâ€"star agâ€" gregation from Jroquois Falls. H. will be the most interesting and exâ€" citing game of the.season in all proâ€" babilitv. lroquois Falls has four good hockey teams, and after a successful season they have decided to pick from the four teams an aXâ€"star aggregation to visit Timmins and see whether thero are any hockey players here. ‘Timâ€" mins, consequently, is rounding up all her ‘‘hasâ€"beens‘‘ or *‘mayâ€"bes‘"‘ with a view to testing the great question. The game is called for Tuesday evenâ€" s ANOTHER $200 FINE IN POLIGE COURT are to be in t p® The course as follows :â€" A.lâ€"STARE COM:. G FROM IREQUOIS FALLS Picked Ho’;:key Team from |] Town to Play Timmins on Tuesday. 935,000 PLEDGED 10 PATRIOTIEG FUND ral interest leniently dealt with, only a fAne 30 and costs being imposed. Porcupine Consolidated Patriotic Fund Campaign Continues. Single Copies 5 Cents se as outlined now will hbe â€"From the Imperial Bank, to the Poreupine Crown ‘upine Crown to Imperial; uesday evenâ€" handâ€"picked that evenin« from Paper

Powered by / Alimenté par VITA Toolkit
Privacy Policy