The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1888-11-30
THE MOUNTAIN LION PROPERTY.
Negotiations for Its Development Agreed Upon
and to be Determined in q Few Days.

@ AAU y y OSkexW.US0 In u rev O3ySs -
Mr.. G. E. Gable left Wednesday afternoon,
via the Northern Pacific, for st. Louis, to
submit to gentlemen he represents his report
on the Mountain Lion mine, and, if approved
BY them, will at once order the machinery
placed on the mine and proceed with its de-
velopment. He expects to commence sink
ing by Dec. 20. INV" W..
The agreement contemplates that Mr.. Gable
shall sink a accompaniment shaft II BY 81
in the clear, to a vertical depth of 200 feet
below the mouth Ct the present tunnel, which
is in about 600 feet, and has . vertical depth
of about 80 feet at the heading. From the
bottom of this shaft q level is to run 500 feet
eastward: also such prosecuting IS is neces-
sary, which will give a depth Of about 800
feet 1t discovery shaft. The machinery of
the Sydney mine, which cost 5000, and Is
as good as new, will probably be placed on
the mine. with such other as is required. In
consideration of these developments and
certain purchases, Mr.. Gable and his asso-
ciates are to acquire a controlling interest in
Keystone claim, an extension of the
Mountain Lion, westerly, is also to become
the property Of the company, by purchase,
for $4,000 from Messrs. j. N. Fox and Geo.
S. Miller, if the contract shall be fulfilled
and the company conclude they want it, the
deed being now in escrow. Mr.. Gable, on
leaving here, considered the matter practi-
cally settled, both he and DR.. Hover, the
expert, reporting favorably. The only mat
ter remaining is to secure the pooling Of a
certain amount of stock until the develop.
ment work is completed as agreed upon.
In connection with this, it is perhaps well
to state that the Mountain Lion Company
has now placed itself in line with the larger
stock companies Of the Territory by a re-
transfer of all its property and the issuance
Of stock accordingly. Holders are requested
to return the stock they now hold to James
B. McMaster, Secretary, in person, by ex-
press or registered letter, and On receipt
thereof it will be cancelled and new stock
issued them in equal amount for the same.
There was possibly some irregularity In the
methods of the first issue. This is now cor
rected, the company is entirely free of debt,
with = large amount Of development done,
buildings erected, etc, and excellent pros
poets. Thu Mountain Lion has always been
consi.ie1 ed the vein of the Orc Fine district.
Notwithstanding the other excellent show
ings there and the recent development on the
Champion group-that is, as judged by sur
face indications and such prospecting as has
been done on it. 1t is the belief of all miners
that it Is a mine-and a big one. It may
prove a disappointment, but it will be a dis
appointment if it fails to develop as a valua-
BILE property. The method of developing it
by tunnel only cut across, where the tunnel
was run, the tops of ore chutes. The com.
pany expended its funds in this way, until it
did not have money enough to sink and de-
velop the mine at the depth where, as indi-
Gated by the Lily, heavy ore bodies lie in that
camp, and work was continued in the tunnel
until the funds received from the sale Of
treasury stock, on which a minimum price of
80 cents had been placed. were exhausted.
It was resolved not to go in debt. There was
not enough of what is termed thinning
money" in this town to take hold Of a project
for deep development involving a large out
lay, and there has been no development for
several weeks. During the intervening time
the stock issue has been re-adjusted as stated
and to all appearances work will be resumed
by December 20. As the shaft will be started
probably 40 or 30 feet south of the vein, and
the shaft will not strike it much short of 200
feet, it may be four months or more before
anything is known of the mine at that
depth. These facts are stated for the infor.
nation of stockholders. The community
/ generally is also interested in a project which
! looks to the thorough development of the
| mines of Orc Elmo district, and the work
| provided for in this agreement is only pre-
! liminary to the thorough development of the
| Mountain Lion and Keystone.