The daily miner. [volume] (Butte, Mont.) 1879-1885, 1882-01-01
THE HECLA CONSOLIDATED
MINING 90. AT GLENDALE
AND LION CITY, II.
It's EARLY History, and the Present
Development of It's Mines.

the Hccla Consolidated Mining COM
lnny was organized 10y Mr.. Noah Arm
strong, Of Glendale, one Of Mnntann'S
most worthy and cnterpriSiny citizens
The company was incorporated in JAM
,iury, 1877, in Indiana During the
first two years "f its existence 1877 and
1878, MIR. Armstrong was the SupcrilI-
tcn,lent and managing spirit; ali the
improvements necessary To run both
the slnelter and the mime being made
under his direction. At the end ut his
two years supcrintrndcnry, when the
company was in shape to pay dividends
and had already declared the first uf "a
10 per cent. dividend on IL capital stock
Oi M.M't, there arose among the menu
bees of the company di>sensinnS and
jcalOusies, the result OF which Was that
Mr.. G.. Il. Atkins, of indianapolis, was
appointed Superintendent ana General
Manager. Mr.. Atkins held this posi-
ton two years, during which time he
took out of the mines the sum OF s.
5W,OO. The capital stock OF the COM
lany had, in the meantime, been in
creased to $7jp,OH|, oh which II - per
cent. dividend had been paid in 1879,
and AZ 10 per cent. dividend in 1850
Notwithstanding this, ut the end of Mr.
Atkins two years administration the
company found itself in debt to the
amount of ~ ,'NHD. or course the ILL
rcctOr- saw that the condition nI the
COMPANY was alarming, and at their
meeting in January, 1851, refused I" re-
appoint MIR. Atkins rs superintendent
AMI Manager. 4 committee, consisting
Oi McS>rS. Noah Armstrong, =. e.,
Hanna and II. knippcnucrg was ap-
pointed to visit and examine the co,,,il-
ton OF the properly. Upon their re-
turn to indianapolis, in July, the Board
M Directors unanimously appointed
Mr.. KniplWnl'crg General Manager OF
the mime and properly. This appoint
nlent in.usr.i ir.sI, liz. and hope in TIE
.iisllcartenc.l Stockholders. MIR. knil-
renterg sold out his interest in the saw
manu- 4ncturing business in which he
had been engaged in ln.lian ma polls, and
and integrity in the course Of fifteen
years uc,lve business, and arrived at
Glendale curly in April. The con,ii-
ton OF things ut Glendale and Lion was
far from beng encouraging to the new
Manager. Az Lion he round depleted
mines; developments neglected IRONS six
t, eighteen months and surveys Ol the
mines behind twelve months. At Glen
dale he found matters in II democrat iz.,l
condition.
REFORMATION
was ut once begun at all points. James
l'arfut WAS appointed superintendent
of mines; George Il. Earl, Superintcn-
dent III reduction; Guurgc Il. Conway,
cashier and bookkeelrr; &. \. Hoyt,
nssaycr; and John NJ. Par.ut, Superln-
tentient III iron mines. the capital
stock had now been increased 10 81 ,.1,k,.-
Oh. Hy July LIST Mr.. knipl~n,'cr.. had
paid the large debt LETT on ms nunls anu
ll.si Il surplus OF S:5D,tAW. He ut once
commenced paying IL monthly dividend
OF per cent. on The capital stock, or
$l5,OW per month. THIS amount has
l,cen psitl every month since, 50 that
by un.l including the first day of De-
cemDer, 1881, there have been paid, UNI
der the present able management, divi-
dends amounting to tt',NNI.