The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1881-07-12
From Saturdays Daily.l
THE CAMP.
Operations and Prospects Of the
Hecla Consolidated Mining
Company.

Hecla Consolidated Mining
Company.
The Hecla Consolidated Mining Company
again in full blast, employing about $50
The company last January at their an
nual stockholders meeting increased the capt.
stock from S750,O00 to 81 $500, 900. The
rumor aloat i'll Montana last January,
that the company was in bad condition, was un
doubtedly wellfounded for we learn although
The management look out o. the mines each
year for two years $l,OOC,Os0, still it came out
in debt last January something like $4,000.
The stockholders last January therefore felt
that the trouble was not in the mines but in
the management and so the position ofgeneral
was offered to Mr.. II. Knippenberg
of indianapolis, and, although but a young
man, he was regarded as one of the most
prominent business men OF indianapolis.
Under the circumsl ances, considering the
condition of the business, Mr.. Knippenberg
did not decide to accept the position until
Mr.. Noah Armstrong, the founder OF the
Hecla Company, of his confidence and coop
eaation if he would accept.
Mr.. Knippenberg 10 assuming the response
bic position of general manager of the Hecla
Company, at once began recognizing matters
in a business like way. James Parfet was ap-
pointed superintendent of all the mines. Mr..
G. G.. Earle was appointed superintendent of
the reduction works. Mr.. e. A. Hoyt, of
Omaha, Neb., was engaged as assayer. Mr..
Geo. B. Conway, Of Indianapolis, was ap-
pointed ~bookkeeper and cashier.
The system of keeping two sets of books,
one at indianapolis and one at Glendale, was
regarded by the new manager as being COM
plicated, so the eastern books were abolished
and the books of the company are now kept
for the Indianapolis Office was organized,
showing the daily product and expenses. Mr..
Knippenherg being also a practical %bookkeep-
err, organized system that requires just about
one-half the time to keep up the business that
it formerly did. The pay day of this ompa-
ny formerly was any time after the 25th Of
the month, but Mr.. Knippenberg regarded
this too long a time to keep the money of en-
ployers and so ordered that every man be
paid off on the goth of each month.
On July 1st, the Hecla Company, under
the present management, showed a most en-
couraging statement. The net profit from
March LIST to July 1st showed a Cash profit OF
$3.50 900. MIR. Knippenberg in assuming the
management marked out his business policy
which we learn was as follows 1st. The
debt must be paid. Ind. A surplus of $780,
600 must be held by the treasurer. Sd. A
monthly dividend of l per cent. paid on the
present capital stock. All these and more
have been reached by the new general man
ager. He has in four months paid the debt
has made his reserve, and OH July LIST pait
l per cent.-or $l5, 00O-dividend. Thi
surely is a fine showing, and the stockhu. der
of the Hecla Company may congratulate
themselves at the fine result. We learn tina
Mr.. Armstrong should have recently sal
that he regarded his stock W orth par an
would not sell it at less. indianapolis partie
own about 81, 100000 OF the stock. We ais
understand that Mr.. Knippenberg has sal
that he has not the least fear but what tn
l per cent. dividend per month, inaugurate
July LIST, will be kept up twelve months il
the year for some years to come and beside
increase his reserve.
We certainly congratulate Mr.. knippenber
and bid him welcome to our Territory. II
is the kind of a man we want. 1t is no m
matter to take hold of a bankrup bushes
and of completely robbed and gouged mine
and in four months place it on a paying bas
after reservipg a Large surplus. We are gla
to learn that Mr.. Knippenberg is delighte
with Montana and her people so far as he hi
seen both. His wife and two children al
with HIM at Glendale.
We understand that in the matter of pul
chasing of supplies, every bill is discounte
for cash bills reaching the Glendale Off
one day are paid the next in New York e.
change, and that the system in the office
this company is one of the most simple, bl
complete, To be found anywhere.
The matter of concentration Is now recei'
ing the attention of the Hecla Compan,
There are OH the dump at the mines at lea
10000 tons of ore, running from 20 to 40 o
in silver, ana at no distant day the presel
management will have erected a concentrate
with a capacity of at least 100 tons per da,
Both of the furnaces are now running, pr
ducing every twenty-four hours from lively
to fifteen tons of bullion.
FORT EOGH IN FLAMES.