The Butte daily miner. [volume] (Butte, Mont.) 1885-18??, 1886-01-01
The Immense Treasure in the
Philipsburg District.
History Of the Great Granite Noun
tain Mine in Deer Lodge County.
Property Was Devol0ped---The
aDs,tput for the Past Year.

The history OF the Granite Mountain
Mining Company can be very briefly stated !;
Like all great properties, many wonderful
stories are told regarding the manner OF it's
discovery and happenings during develop
meut, but it's history is sufficiently marvel.
GUS, without calling on the imagination.
The property is located in Deer Lodge
County, Montana, about two miles east OF
Philipsburg, twenty miles vest OF Deer
Lodge, and forty miles north OF Butte 1t
WAS purchased by st. Louis and Montana
gentlemen, who organized as syndicate in
December, 1850, for thedevelopment OF the
property.
The Granite Mountain Mining Company
was incorporated September 3, 1881,
under the laws u the Territory OF Montana,
with IA capital OF SlO.OOO,OOO.
property Of the Company, inaddition
to several lodes adjoining the mill lotion
width at that point vi about $500 feet,
consists Vi eight lodes on the vein, running
nearly due east from the MILL II
little over two miles in length. The vein
is being developed by five adit tunnels.
three uf which are now being actively
pushed and shalt. commencing at the
level OF tunnel No. 3. by which the ores
from the deep can be h"isted to the ore
bins above the crushers. From the lowest
point on the eastern boundary u the prop.
crty to the top Of the hill is Il horizontal
distance uf about $500 feet, from which
latter point the ridge is practically level
for almost the entire length Of the conf
pslny's claims. From the eastern boundary
to the top OF the hill is Il vertical height OF
about 800 feet.
Fuel (wood) and water are abundant
for all the company's needs Tor many years.
An excellent wagon road, four miles
long, built by the company. connects
Granite with Philipsburg, and from thelat.
ter place good roads reach to Drnmnond
Station, on the Northern Pacific Railroad,
thirty miles north, and to Anaconda
smelter. thirty miles southerly ona branch
OF the Utah II Northern Railroad. Tele'
p,onic connection is made in the COM
panv's Office with Drummond and the rest
of the world.
On December :, 1855, Tunnel No. 5 was
1858 feet long, and had been continuously
in ore for $50 feet OF an average assay val.
lie Of over 115 ounces per ton for the en-
tire distance. The header is still in ore OF
higher grade. Tins tunnel will have to be
extended 500 feet further to come vertic-
ally under the rich Bonanza Chute
struck above in Tunnels No. 2 and 3,
from which the bulk OF ore mi!led has been
taken. During the summer and autumn oil
1883 the company reduced Labs tons OF
their ores in the Algonquin Mill-located
near Phillipsburg. The proceeds Of sales OF
silver from this lot OF ore was $274.O0O.
December /, 1885, the mill OF the Granite
Mountain Mining Company was completed
and it's 20 stamps commenced dropping on
From October 18th to 22d, 1885, the
mill was stopped to make connection with
the 10 additional stamps, making it, since
October 22d, 30-stamp mill. From
December l. 1884. to December
1, 1885, the mill was in operation
1896 days and treated 6,963 tons Of ore,
from which 1,OO1 ,5SS ounces fine silver
were recovered, and the proceeds of sales of
which aggregated 81 ,O37 800. Total out
put to December2, 1885. 81 ,311 500.
Since December %, 1884, regular weekly
shipments Of fine silver bars have been
made, excepting the one week, noted above,
in October last.
The company commenced paying disi-
dends on April, 3, 1885. and on December
~, 1855, the stockholders received Divi-
dend No. IL, aggregating $5sO,OO0. The
company is gradually providing reserved
fund, which now amounts to $15O.OOO.
The Company has no bonded or other in
debtedness, except expenses for the current
month.