We have very good news for the shareholders of the Polish Gold Mine Company in California.

Just before the beginning of the New Year, Mr. John Smulski, the secretary of the Company, went to San Francisco at the request of Mr. M. Maryanski, the engineer. There was a good chance to rent an up-to-date gold-mining mill which is located near the mine. The mill, which belongs to the Calumet Mining Company and is equipped with modern mining machinery, is in a good condition and is operated by water power, which is very important. This goldmining mill consists of six buildings and the necessary machinery. It cost the Calumet Mining Company one hundred thousand dollars to build and equip this plant. The water furnishing the power for operating it comes from the mountain and falls down two hundred feet on the wheels.

The Calumet Mining Company owns a small gold mine right near the Polish mine. This Company, having already exploited its mine with good profit for all concerned, does not need the mill for some time, so that it leased it to the Poles at very reasonable terms.

Since the operating expense is very low, because the mill is run by water power, it may be said that the Polish Gold Mine Company is very lucky in having rented it.

The lease was signed yesterday at Cleveland, Ohio, where Mr. John F. Smulski met the president of the Calumet Mining Company.

The mill has twenty-five crushers and the [Polish] Company will install that many more.

There are still five thousand dollars' worth of unsold shares. The Company needs this money for the purchase of new crushers. Shares may be bought from Mr. J. F. Smulski, secretary, or from Judge M. A. La Buy, the cashier of the 3Company.

The work will begin not later than April. We wish to add that Mr. Alexander, who represents a certain syndicate, has again offered one hundred fifty thousand dollars for the mine, but this offer was rejected.

Today, we are in a better position to say that the shareholders will have good returns, which we wish them wholeheartedly.