Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-09-28
BIG BEND MINES.
Tho Company Il Still Solvent, Though the
Investment Was q Bad One.

The Company II Still Solvent, Though the
Investment Was . Bad One.
BUFFALO, September 26.-Dr. Pierce
president OF the Big Bend Tunnel and Min
ing company, in circular to the stock
holders announcing the future OF the com.
pany, says: "Since the issue of bulletin
No. I, ON September 80, 1888, there has
been NO material change in the prospects
developed by our mining operations last
year at Big Bend. The vast quantity OF
boulders uncovered completely handicap
ped our operations and made them SO
expensive as to prevent realization of
profit. In fact, in view OF the adverse de-
velopmeEts OF last seasons work and the
further experience Of this season, it it is
doubtful il our mines ever can be worked
at profit. Certainly not at the present
prices OF labor nor unless some more
economical method may hereafter be in.
vented for handling the vast quantity of
boulders which exist in the river bed. Our
operations have demonstrated the fact
that there is q vast quantity Of gold in
our claims. But In the face of the obsta-
cles mentioned it seems impossible to ex-
tract it at q profit. The total output OF
our mines last season was SIT ,S32. This
did not pay the cost OF actual II lining
operations. Some OF the ground washed
quite rich, and everywhere gold was found
to exist in sufficient abundance to pay
largely but for the unexpected obstacles"
During August OF this year DR.. Pierce
says the output was about $4,000. but he
adds: st is doubtful if we shall be able
to do much better than pay expenses this
season. Everything has been done to
operate cneaply and effectively, and every
thing else likely to facilitate the work that
experience could suggest has been DONE"
In conclusion he says: "But after all
cur efforts, and much as We regret to
acknowledge the fact, yet we are quite
prepared to admit that at present we see
no prospects OF realizing our former expec.
tations with respect to these mines. Great
as is our disappointment at this uniavor-
able termination OF our great undertaking,
we at least have the satisfaction OF know
Ing that we are not more at fault in our
judgment with these mines than were the
most experienced mining experts of the
Pacific coast, and that we have been de-
feated by no fault in management, but by
the existence OF unfavorable condit:o t:ons
which could not possibly have been fore
6c0u OE 6uppO6cu US' 0Al6U, duu WulCu WcEC
only disclosed when the mines were fully
opened up by our excavations in the bed
of the river.
"The statement that the COM
pany collapsed was uncalled for.
debts, if it has any, as it is perfectly sol.
vent. 1t is true our expectations have not
been realized in the venture but we still
have valuable property, some 4, 200 acres
OF territory which can be utilized to ad
vantage for irrigation and other purposes.
Operations were carried out as at first
planned with every prospect OF success, but
the unlocked for presence OF great boulders
on the other hand changed the tendence
of the venture, and instead of lro,
ducing gold at profit it seems
to be q losing operation. We had
the favorable opinions OF some of the best
mining authorities in the country, and
every thing looked favorable for large re-
turn on our investment. But, as stated
in the circular, we did not find enough gold
to pay expenses. Any misstatements are
entirely unjustifable, as the actual con-
dition OF affairs has been clearly set forth
in bulletins which have been issued. copies
Of which have been furnished for publica-
tion. II the company was in q state OF
collapse it would lie the duty OF the at
torney general to close up it's affairs"