The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1880-02-24
rom Wednesdays Daily.)
THE 4 BOOM.
Five thousand Shares Sold in Butte Yes.
terday.
Prospects anu Purposes Of the New Com
pany.

NhhN sEPvSCS ol nht Nc" SOIbE-
Hany.
The announcement which appeared iG yes
terday's MINER relative to the stocking of the
Alice bonanza, created a great deal of COM
ment i'll all circles, and there is a general de-
sire to learn the particulars of the important
transaction. The MINER takes pleasure
therefore,, IN publishing the following facts
from All official source: The reports made by
Professors Blake and Clayton who recently
exported the property: were favorable in the
extreme, but were 10 more enthusiastic than
the condition and the prospects of the mine
warranted: On the result Of their examina-
ton being made known therefore, no difficult
ty was experienced in making all the ar
rangements necessary TO the incorporation of
the company and to the placing of a portion
OF the shares. The capitalization is for S1O,-
100000, the stock being divided Tito 100000
shares with a par value of $25 per share. 1t
was at first the intention of The company to
issue but 100000 shares at 500 per share
but in order to make the stock popular and
give it a vigorous start on the board. it was
deemed advisable to increase the number of
shares and proportionately to lessen their par
value. a block of 81, 900 shares was without
any difficulty distributed among New York
capitalists : 10000 shares were disposed of in
Salt Lake City where The principal owners
OF the property reside, and 5000
shares were sold yesterday in this city.
The figure realized for the 100,O 900 shares
Was $3.50 per share, that being the bedrock
price. Three hundred thousand shares have
been reserved by the Walker Bros. and
Mess's. DAILY and Dunn, who have heretofore
constituted the Alice company. a portion of
this amount will be offered for sale on the
New York stock board on the completion of
the new 4o-stamp mill, when the property will
begin to pay regular dividends. 1t is the in
t%ention of the above named gentlemen. how
ever, to retain a sufficient number of shares
to control the management of the property,
which statement is a sufficient guarantee that
the mine will be operated with the same
economy and skill that have played so irhpor-
tant a part in its Successful DEVELOPMENT.
The reports of Professors Blake and Clayton,
who stand deservedly high in the estimation
of Eastern capitalists, undoubtedly had much
to do with establishing confidence in the value,
p%erlnanence and extent of the Alice mine.
but if further evidence were needed to sup
plement and fortity the assertions of those
gentlemen relative to the character of the
property, it is furnished by the degree of avid
ity shown among the business men of Butte
to secure a portion of the 5000 shares set
apart for sale in this city. Until within the
tast week the mine has been at all times ac-
cessible to visitors, and our citizens had ample
opportunity, of which they took full advan-
tage, to acquaint themselves by personal en-
animation with the phenomenal value and
extent of the property. 1t is not strange,
therefore, that Il general desire existed to be-
come personally interested in the Alice by the
purchase OF stock, and much disappointment
was felt because only 5000 shares were Of
fered for sale i'll Butte. These were all sub
scribed for during a few hours of Yesterday
forenoon, and we are reliably informed that
10000 shares could have been disposed of in
this city yesterday had they been offered for
sale. The principal business men of Butte
were eager to invest in Alice stock, and
not one of those who were %fortunate enough
to make an investment al three dollars and a
half per share, could be induced to part
with it for five dollars, although several
months must elapse before regular divide nds
will be paid. In conversation with Superin-
tendent DAILY yesterday, We were informed
that during the latter part of next summer
sixty stamps will be in operation, and shortly
thereafter IA third mil, will be erected
with twenty stamp capacity for the
wet crushing OF surface ores of which there is
enough in sight to last several years. The
mill i'll present operation brushes twenty TONS
daily, the forty stamp mill whose erection
will soon begin will crush not less than fo,ty
tons daily while the capacity OF the addition
al twenty stamp wet crusher is estimated at
thirty-five tons daily. Before the ending of
the present year therefore, it is safe to state
that the Alice company will mill nearly one
hundred tons of ore per diem,
We regard the incorporation OF the Alice
mining company as the beginning of the
Butte boom which the MINER has 50 conf
'Sh'iI lhSNiStCu u M Sltdt ulSlTlcl. III IS
the first gun to awaken Eastern capitalists TO
the extent and permanence of our resources.
1t will arouse a spirit of intelligent inquiry
among moneyed men who will form
the natural and correct conclusion that
a district that can boast a bonanza like
the Alice contains other mines which
developments will prove equally valuable.
The result will be that great properties like
the Gagnon, Lexington and dozens of other
will be stocked and that Butte will! enter ON
an era Of UneXampled and permanent pros