The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1889-11-07

property is more hattering now tha,
ever before, and the stock has stiffene(
up to fifteen cents, strong. They are nov
trying to make arrangements for the de
! velopment of the property, but nothing
is likely to be done until next spring.
THE MINING INDUSTRY.
The following, taken from Governor
Whites annual report; contains the
principal points in the document regard
ing the mining industry in Montana:
The chief source Of territorial wealth
| is mining. Montana has been q mining
territory since it's organization, and has
produced upwards of $500, 600, 600 since
its settlement quarter Of a century ago
The entire mountainous portion OF the
| territory, embracing one-thlrd Of it's sur
face, is rich in minerals, and in no similar
area upon the face of the globe are
80 many mines in process Of success
full operation. The:s.declared dividends
Of the incorporated mining companies
for the current year estimated upon the
amount reported paid for tho first nine
months, will aggregate $4,000 ,OOD, while
the properties owned by individuals and
close corporations will: easily ':ouble the
amount. The ores are silver, lead, gold
and copper. The principal mines 50 far
developed are in the counties OF Silver
Bow. Deer Lodge, Lewis and Clarke,
Beaverhead and Madison; but in all por-
tions of the territory, except the extreme
east, prospecting is actively progressing,
and valuable discoveries are reported
almost daily. There are in operation in
the territory ten gold mills, eighteen
silver mills, seven lead smelteFs, eight
copper smelters and twenty-five concsn-
traitors, the combined capacity of which
is not less than 5000 tons per day.
When the new Anaconda smelter shall
be completed, the total will be fully T.
600 tons In the extraction and reduction
of this ore, it is conservatively estimated
that 10000 men are directly employed,
while fully 75,00O people are indirectly
supported by mining and its cognate in
dustnes. The principal mining :ity is
Butte, well-conducted and exceedingly
prosperous place of 10000 people, which
is wholly dependent upon mining. Here
are located the great copper and silver
mines of Montana, whose production
has increased from $1.OOO,OOO in 1880 to
s23OOO,OOO in 1883. This year the out
put will be greater in weight, but its
value will be less, owing to tho deprecia-
ton in the price OF copper. The tota!
copper product for the district for 1889,
will reach 10000 .ro0 pounds, worth al
10 cents per pound 100000. The
silver product Of tho camp, from the
great quartz mills there, will aggregate
$6,OOO,OOO. The mines seem to be practl-
cally inexhaustible. The other great
mining camps of the territory are Phil
ipsburg, where the great Granite Noun
tain silver mine, paying q monthly divi
dend of 100000 is located; and Marys-
vile, where the Drum Lummon, . gold
miae paying quarterly dividend Of 81
10000 is located.
Many other great bonanzas paying i'm
mense profits, and thousands Of smaller
in an active state OF develop
ment in numerous mining districts, might
be enumerated; lot it suffice, however, to |
say that the achieved results OF mining
in Montana, are q source Of pride to al
her people, and that the outlook is bright |
With promise for long continued activity
On grand scale.
A year ago Montana had outstripped
all her sisters in the race for precedence
in the value of her base and precious |
metal output.
To realize the full fruit OF her hopes !
and to compensate justly the hardy pio-
neers who have built up magnificent
from the wilderness, but |
two things are needed:
These are the FREQ coinage of silver by
he government, thus enlarRinR the de-
nand for that metal and increasing its
7alue, as we'll as supplying q circulating
Medium, needed By the people Of the
country, and second. the col ecti0l OF
he full duty on all lead ores imported
rom Mexico, whether in association with
Montana confidently rely upon this ad-
and upon congress- to afford
he necessary relief in this matter, that
N important American industry may be
protected and the wages Of American
miners maintained: Montana produced
z, 1000 tons Of lead this year, but has been
ble to do 80 at profit, only under the
timulus of the price consequent upon
he assurance of q ruling of the treasury
department., favorable to American pro-
ucsrs. With the existing disparity in
he price of labor, Montana cannot COM
ete with tMeXlcO IN Inc proOuctlOn OF
ead, and We appeal to congress for that
rejection accorded to other branches
t American industries. II granted, our
,ad production will continue to increase
nd become one of our prominent and
sading industries, otherwise our lead
melters must close and lead mining be
bandoned.
STOCK QUOTATIONS..
Closing quotations.. Wednesday, No
ember 6, furnished by John W. Daw-
on, broker:
IN Francisco Con. n...........9 10 l3X
lest Granite. ..-........ Us Oh
Op0s.. = - |
Ountain Lion n.... .............j 26kI AZ ,
od..................... 10 12h