The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1881-01-04
No statistics of receipts and expenditures can
be obtained at present writing, owing to the
absence east of Mr.. Clark.

No statistics of receipts and expenditures car
be obtained at present writing, owing to the
absence east of Mr.. Clark.
TIE NORTHWEST C~o,-TowER, 1874.
This corporation composed of New York cap
italists, own a ten stamp hlorodizing mill, un.
equalled water privileges and very valuable
lode property. The location of the works is on
the north side of Trout Hill, convenient to the
mines and distant one and a fourth miles east
| of Philipsburg. All the mining property OF
the company is held by yearly representation
the following being the. most important The
Speckled Trout, Discovery and No. 1, 2 and 8,
Pocahontas, Kitty Clyde and Providentia on
Trout Hill and the Poor Mans Joy on Hope
Hill. The Company operated here for about two
years, working ores principally out of the Trout.
1t was found impossible to lift the load of in.
debtedness incurred in building costly hosting
works, q mill. and necessary buildings thereto.
Labor debts ian up and men grew clamorous
for pay. The mining property was undevelped
and therefore unproductive. The end came and
the North West compan passed out of active
existence. 1t was not intended however, to
allow the property to remain idle. Men of
foresight and experience knew the value OF the
mines if properly managed and influential
business men of Montana Interested New York
capital in the formation of a new company. A
syndicate composed in part of the old COM
pany was incorporated under the laws of that
state and called the North Western Company.
The old organizations right of franchise was
secured; the foreclosure of O heavey mortgage
was stayed for. three years; previous debts of thu
Northwest Company were to be paid accord
ing to classification and 81 500. 600 of non-assess-
able stock was Immediately issued. Enough
of this was subscribed for to raise n working
fund of $4,000. The Trout mine with two
months ore ahead, the mill and entire work.
ing plant in fine working order was turned over
and the new company under the most fav-
orable auspices started to work, it may be
truth ully said, rather too enthusiastically. In
stead of paying as agreed, the old debts, u divi-
dend out of the first profits was declared and
large contracts for wood were entered into.
Money was literally Ell ended with no beneficial
results ensuing. Officers who had positively
agreed to work for honor, secured emoluments
for doing nothing but ornamental work in lux
uriously appointed office in New York City.
The resident superintendent, an honorable gen.
tlemen>and accomplished scholar, had neither
the practical knowledge nor the necessary
qualifications for the successful operation of a
business requiring so much ability, tact and
skill. His mistake was in not listening to
the advice of men who had both. The COM
pany was hampered with debts that should
never have been assumed, and burdened with
other complications of kindred nature, and
after an interval of two years, during which
time $25O, 900 in money had been milled and eX-
pended, another suspension of operations
occurred and-the end had come again. The
North Western Company, which had started
out so brilliantly two years before had failed
from natural causes. Their labor debts were
large and their workmen, enraged and danger
Gus. Fortunately for the Northwest Company
Concluded on PAGE E7eren.