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lease on the east, the famous Jumbo on the west and the Higginson lease above referred to on the north. The vein of the latter is sure to run through the Kalfus-Wedge property, as indicated by the workings on both leases.DEVELOPMENT WORK The Rickard-Mohawk lease has one shaft 160 feet deep and 600 feet of cross-cuts. One of the latter has broken into a ledge of good milling ore. It is believed that by drifting and cross-cutting, high-grade shipping ore will be opened on this ledge within a few days. It also has an incline shaft of sixty-five feet following a ledge outcropping on the surface. It is believed by the experts of this company that a little further depth on this ledge will develop equally as good ore as that now being shippedfrom nearby leases. The Company is installing a gasoline hoist on the 160-foot shaft of the Rickard-Mohawk property and has also begun sinking a three-compartment shaft in the center of the property, from which all the mineral lodes known to run through the same can be developed. As the lease has over ten months to run, this wiill give the company plenty of time to make a record production. This ground is considered by experts to be the pick of the entire Mohawk property, and the production from it should run into six figures.DEVELOPMENT ON THE KALFUS-GOLD WEDGE A shaft has been sunk on the property to a depth of 180 feet and a cross-cut run for some 35 feet. The latter has tapped a ledge from which assays run as high as $57.00. The company is also installing a gasoline hoist on this property, and as soon as this hoist is in operation, which will be but a few days, this ledge will be cross-cut and drifted on immediately. It is believed to be the Hayes & Monnette and Od-die ledge, as it lies in an exact line with that famous ore body. There appears to be no doubt but what a shoot of high grade ore will be encountered here within a fortnight. Thus the Rickard Mohawk Leasing Company will probably become a large shipper within a few weeks, or probably days.The operations of this Company will not, however, be confined to these two properties. Other leases are being secured surrounding the famous Mohawk producers, and from time to time as opportunity presents new work will be started. In this way purchasers of the treasury stock of the Rickard-Mohawk Leasing Company will share not only in the Rickard-Mohawk lease, which is believed to be the pick of the entire camp, but in the Kalfus-Wedge lease and all the other operations of the company. As other properties are secured, the stockholders will be fully advised and kept posted regarding same.LEASES ON MOHAWK NO. 2, NOW SHIPPING Hayes & Monnette, $20,000 to $30,000 per day. Oddie, $4,000 to $10,000 per day.Truett (Mohawk Leasing & Development Company), $3,000 to $8,000 per day. This lease covers ground only 50x370 feet and was originally stocked for $250,000. The first stock was placed on the market at 25 cents per share, and is now at $1.50 bid and none for sale. Frances-Mohawk, $1,000 to $3,000 per day. Kalfus, $4,000 to $8,000 per day.Among those just beginning to make shipments are: McKenzie No. 1 (the Mohawk Lease Company, a New York corporation), the Curtis-Ish lease adjoining the Rickard-Mohawk and the Bradbury lease adjoining the Rickard-Mohawk. The Ish-Sheets lease on the Combination, cornering on the Rickard-Mohawk, is shipping from $4,000 to $8,000 per day and the Higginson lease on the Gold Wedge, adjoining the Rickard-Mohawk, is now preparing to begin regular shipments. The Rickard-Mohawk property is only separated from the famous Red Top mine by the Gold Wedge fraction, a strip of ground about eighty feet wide at this point. Adjoining it on the west is the Silver Pick mine, on which has been opened within a few days in two places very high-grade ore. It is expected that regular shipments will soon begin on the latter property.SPECIAL OFFER We have secured an allotment of 100,000 shares of the treasury stock of the Rickard-Mohawk Leasing Company, which we can deliver to our clients at 25 cents per share. This is positively all of the stock that will be sold at that price, and if shipping ore is opened within thirty days, as we now expect, no more stock will be sold, but the balance of the treasury stock will remain in the treasury of the company. The only reason for selling any stock is to aid in carrying on developments of the various leases and equipping same with up-to-date machinery, so as to be able to make the production as large as modern methods can do.The length of time on the leases now controlled by this company is exceptional. The Rickard-Mohawk lease on Mohawk No. 2 runs to July 1st, 1907, and is for the longest period of any lease on that famous, property. Only one other runs beyond January 1st, 1907, and that expires on April 1st. Thus the Rickard-Mohawk Leasing Company will be taking out ore from the Mohawk No. 2 claim long after all of the other leases have expired. We confidently believe this to be the very best opportunity toJos. H. Hutchinson