Culled from the news

Media

Part of The American Chamber of Commerce Journal

Title: Culled from the news
Language: English
Source: The American Chamber of Commerce Journal Volume XVIII (Issue No. 6) June 1938
Year: 1938
Rights
Fulltext: 20 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1938 Culled from the News CONSOLIDATED MINES, INC.: Held its annual stockholders’ meeting at the American Chamber of Com merce this month. The meeting last ed about five minutes, during which time the meeting was called to order, We are pleased to announce that we have been appointed SOLE DISTRIBUTORS of HENDY MINING AND MILLING MACHINERY Manufactured by JOSHUA HENDY IRON WORKS --------------------- ------------------- T------------- ------------------San Francisco, California Your inquiries will be given our most careful attention KOPPEL (PHILIPPINES) INCORPORATED ILOILO MANILA CEBU the annual report and balance sheet approved, directors reelected, and a motion for adjournment approved. The directors, R. P. Flood, president, Courtney Whitney, chairman of the board, Victoriano Elicaho, M. C. Grey and B. W. Guysi will guide the affairs of the company for another year. Persistent rumors that Consolida ted had shut down its Tumbaga plant were emphatically denied by Mr. Flood. He stated that the mill is treating from 50 to 60 tons of ore per day, as it has been doing for some six months past. Mr. Flood also denied rumors that any deal is pend ing with Baguio G'old Mining Com pany, whereby the latter should take over development of the Gold River property. Work has been suspended at Gold River, Mr. Flood stated, pending study of a recent geological report. PARACALE MINING: A 100ton plant ordered through the Edivard. J. Nell Co. of Manila has arrived from the United States, and has been shipped to the claims at Mambulao. Foundations have been under con struction since May 15. LEPANTO: The San Francisco Mining Exchange announced early this month that it had approved the application of the Lepanto Consoli dated Mining Company to list its shares for trading on the San Fran cisco Exchange. The application covers 10 and 1/2 million shares out standing. Lepanto operates a copper project, and our operatives informed us that an advantageous contract is pending for the sale of its ore to Japanese interests. MINERAL RESOURCES: Con tinues to have its troubles. Opera tions were suspended at the mill for 14 days during May. During the early part of the month, the new water supply was not completed, and the mill was down for six days due to lack of water. The drought broke towards the middle of May, accord ing to a statement of V. E. Lednicky, consulting engineer of the company, (Please turn to page 28) IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 28 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1938 Culled from. . . (Continued from page 20) but on May 18th, it was discovered that the power plant needed overhauling and further repairs, and the plant was stopped again, for 8 days. Mr. Lcdnicky stated that from May 28th on, the mill operated at full capacity, and said that in his opinion it would continue to do so. From May 26 to 31, production averaged around Pl,700.00 per day, which insures a fair profit. Mineral Resources’ Labo mill will arrive shortly, and Mr. Lcdnicky stated that it should be in operation by September 1st. It has been decided to extract as much free gold as possible, and to stock the sulphide DAWSON WHISKY WITH ANY MINERAL, IS THE SAFEST AND MOST SUITABLE BEVERAGE IN THE EAST SPWM SCOTCH WHISKY jmith,belu(cqltd. SOLE Dl3TB.iauTCM tailings for treatment later. TWIN RIVERS: Russell R. Bryan, consulting metallurgist, has completed an examination of the Twin Rivers milling plant, at the junction of the Antamok and Balatoc rivers in the Baguio area. The plant treats tailings from the Baguio mines, and has always shown a good profit, but the metallurgist’s report indicates that a more profitable method of treatment might be evolved. Mr. Bryan’s recommendations would in volve further testing, and supervision by a mining expert with much experience in this field. Twin Rivers believes that it has found this man in the person of Mr. J. M. Morris, former mill superintendent at Benguet Consolidated. NALESBITAN MINING COMPANY: Is being formed to take over and operate the claims of the original Nalesbitan Ven ture association, at Labo, Camarines Norte. The company will be capitalized at Pl,000,000.00. Participants in the original Venture, will sell their rights to the new corporation for P400,000.00 in stock of the new company. It is understood that the Securities and Exchange Commission has consented to this transaction, due to the large amount of ore already blocked out. Mackay and McCormick, share brokers, have been obtaining subscriptions (condi tioned upon the company’s being granted a permit by the SEC) to approximately P600,000.00 worth of stock. It is under stood that the issue is being taken up in a steady, if not spectacular, fashion. Funds thus raised ■will be used to finance erection of a mill. Southwestern Engineering Company of the P. I., Inc. will build the mill—a 200 ton unit—on a basis of cost plus ten per cent. Engineers state that approximately 200,000 tons of ore have been blocked out to date, which insures a supply of ore suf ficient to run a mill for approximately three years. It is said that the ore is of sufficiently high grade that a yearly profit of P200,000.00 can be made. Original participants have been given first crack at the new issue. Subscriptions, of course, cannot be filled until the SEC grants the permit. RALSTON LEAVES: Mr. A. W. Rals ton, president of the Manila Machinery and Supply Company, Demonstration Gold Mines, Ltd., and of Benguet Exploration, left recently for a well-earned vacation abroad. During his absence, Mr. Newton D. Baldwin, of Macondray and Company, will fill in as head of Demonstration, and Mr. Conrado Garcia, vice-president of Ma nila Machinery and Supply, will be in charge of the affairs of that company, it was announced to the press. NEW MEN FOR SOUTHWESTERN ENGINEERING: Two men were added to the staff of the Southwestern Engineer ing Company of the P. I., Inc. last month. Ralph Parsons, a construction engineer with over 30 years’ experience, arrived by Clip per to act as assistant construction super intendent for Southwestern. Briggs Ken ney, of the parent office in Los Angeles, flew out on the Clippei’ to join the local staff. Kinney’s most interesting assign ment, in the course of a long career was a two-year chore in Russia supervising construction of lead, zinc, copper and gold mills for the Russian government. NEW FIRM OF CONSULTING ENG INEERS: A new firm of engineering con sultants to the mining industry, Bryan, Wisser and Payne, has recently been organized, with offices in the Regina Building. The firm is composed of R. R. Bryan, me tallurgist formerly with the Consolidated Mines, here, Edward Wisser, geologist, now in the United States, and John Payne, Jr., former chief geologist of the famous Pa tina mines in Bolivia. RARE. METALS? An interesting item appeared recently in the local press. It follows: Stockholders of Agusan Gold Mines, Inc., have received a notice signed by K. H. Hemady, president, informing them that rare metals have been found on the Agusan pro perties. He stated that in addition to platinum and gold, the rare metals osmium, iridium, and ruthenium, were found in ac cordance with an assay report made by Southwestern Engineering Company of P. I. The following is quoted from the assay certificate signed by L. L. Kirtley, chief assayer of the Southwestern Engineering Company: “Nos. 3, 5, 6, & 8 showed distinct spots of ruthenium in the lead buttons, iridium from all eight samples weighed 0.328 mg. with sample No. 1 contributing most of it. Osmium and other related platinum group metals, from all eight samples weighed 0.160 mg.” Osmium is a rare metallic element of the platinum group, found native as an alloy in platinum ore, and in iridosmine. It is hard, infusible, bluish or grayish white me tal, and the heaviest substance known. Its tetroxide is used in histological experiments to stain tissues. The price of this metal is P100.00 per ounce, and the supply is small. Iridium is so-called from the iridescence of some of its solutions. A rare metallic element, of the same group as platinum, which it much resembles, being silver-white, but harder and brittle, and indifferent to most corrosive agents. With the exception of osmium, it is the heaviest substance known, its specific gravity being 22.4. Iri dium usually occurs as a native alloy with osmium (iridosmine or osmiridium) which may occur alone or with platinum. Iri dium as an alloy with platinum is used in bushing the vents of heavy ordnance. It IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1938 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 29 is also used for the points of gold pens. Price is P200.00 per ounce. Ruthenium is so-called from the “Ruthcnians”—a little Russian people as coming from Russia, the metal having been found in the Ural mountains. A rare element of the light platinum group, found associated with platinum ores, and isolated as a hard, brittle, steel-gray metal which is very in fusible. Price is P80.00 per ounce, and, as in the case with the other rare metals, there is but little of it in the world. Two sets of samples, containing these rare metals, in addition to gold and platinum, were sent to England and U. S. A., in or der to obtain an offer and to find out what quantity is required, Mr. Hemady stated. What the Diggers. . . (Continued from page 21) this as it may, Pan-Philippines is making a definite success of Treasure Island. All of the staff houses, power house, and mill building are completed, and the 100-ton initial unit has arrived and is being shipped to the property. Ore is high grade, averaging close to the Big Wedge ore and in places even exceeding it, and it is expected that production will commence on or before September 1st. HAUSSERMANNAnnouncement was recently made that Benguet and Balatoc will increase their production capacity enormously in the near future. We un derstand that preparations have gone for ward toward this end for a year or more. We wish to remind our readers, however, that any conclusion that the management of Benguet is doing this with 1946 in mind is gratuitous, even in view of the fact that Benguet and Balatoc are both greatly con cerned over the possible outcome of the famous Balatoc patent suit, now in the Supreme Court for decision. The Attorney General emphasized in his argument before the court in that case that, should the court hold for Balatoc, it “would mean turning over the mining industry of the Philippines to foreigners’’. Admitted ly, Filipinos are not as important in mining here as they might be, but it is unfortu nate that the Attorney General chose to re gard Americans as foreigners. For this, and other reasons, it is important to the entire industry that the court render an early decision. Should Balatoc lose, there will be nothing for them to do but to ap peal to the United States Supreme Court. However, if a decision is not rendered be fore November 15th next, there is some doubt, we are told, as to whether they can appeal at all, under the wording of the statutes. SANTA ROSA; The flotation unit of 200 tons has been placed in operation on the property of the Santa Rosa Mining Company, in Mambulao. Operations to date have been largely of an experimental nature, on a reduced scale, although pro duction for May was over P100,000.00. Tests on representative ore indicate that a recovery of 97% of the gold values can be effected by selective flotation, producing a shipping copper concentrate and a low grade pyrite concentrate. The pyrite con centrate will be re-ground to minus 325 mesh, and cyanided, together with the flo tation tailings. Construction of the cya nide section of the mill is expected to be completed by July 1. Santa Rosa’s claims are being operated under a management contract with the Union Management Company. MARSMAN; San Mauricio and United Paracale hung up new high monthly pro duction figures during May, although the other three Marsman-managed producers turned in figures lower than for April. Total output of the five Marsman gold operations was Pl ,353,232.54 from 56,95S tons of ore treated and 336,520 cubic yards of gravel dredged. This total is the second-best monthly figure for the Marsman group. Meanwhile, United Paracale stockholders approved the action of their directors in arranging for termination of the existing financial arrangement with Marsman and Company, managers. The directors were authorized to take necessary steps to in crease the capital stock of the company from Pl,000,000.00 to Pl,300,000.00, and to permit Marsman nominees to subscribe to 1,941,176 shares at par value. This ar No matter what type and size of tractor you need INTERNATIONAL HARVESTER Builds It It is Important That you get the right kind of service on your machine/ during its entire life. As distributor in the Philippines, we are equipped to give instant service to any International Harvester machine that may need it. Our service facilities keep pace with our customer’s requirements, ready for any emergency at any time. A large stock or repair parts is always on hand. And every International mechanic in our employ has been trained to give expert service on factory-standard methods—'not only the best service for your tractor but the most economical as well. INTERNATIONAL HARVESTER COMPANY OF PHILIPPINES MANILA ILOILO . BACOLOD . CEBU . DAVAO . LEGASPI . BAGUIO CAGAYAN, MIS. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL