The Helena independent., 1889-11-15
GOLD DUST MINE SOLD.
A Gold Mine in jefferson County
Goes 10 Eastern
Capitalists,
Confirmation of the Reported Con-
solidation of Two English
Companies.
-. u. a y. stock 10 be Listed In ST. Louis
Major Budd Climbing situation of
the Copper Market

A mining sale which has been ON the tapis
Tor some time was consumnated yesterday,
IT being the sale Of the Gold Dust mine,
situated in Indian gulch, Park mining dis
triot, near the town Of st. Louis. The sale
was made TO a company of Hartford, Conn,
capitalists through their representative, ).
4. Green The cash consideration was
5000 and considerable amount 0f stock
in the corporation which has made the pur-
chase. The owners of TINS property have
been DIR. NJ. W. johnson and q. Il. lIallen
and they received their money yesterday.
From all reports the Gold Dust il val
liable property. II is developed by n 800
foot tunnel, in which "A number Of drifts
and crosscuts have been driven. The mine
has paid for its development all through
and the owners were realizing
handsome incomes from the
small way in which the property has been
worked. Prof. Churchill recently examined
the property for the purchasers and gave "A
very favorable report. He found many
thousand tons of gold bearing ore in the
different overhead workings blocked out
and ready for stopping. The purchasers
have retained Mr. Allen M superintendent.
DIR. johnson has been very fortunate in
his mining ventures during the year. Be
sides his share Of the sale completed yester-
day. hs has II good prospect Of becoming
rich in n short time by his q. X. a n. pos
sessions.
The Park Mining company of the st.
Louis district IL plodding away IN the ef-
fort to find ore thnt will pay TO trent. IL
is said they have large quantity of ore ex-
tracted, but il has a high lead percentage
would he difficult 90 successfully concen-
trate and the best assay obtained has not
run over fifty ounces IN silver. The COM
pany is developing however, in search of
something better which they hope to find
in short time.
An expert" has returned from the Big
Ok mine and rendered "A report which has
been published. As u whole, the re-
port does not show the Big Ok
to he the greatest bonanza the
credulous people Of the east have been led
to believe. After more than one years
work 30 tons of ore have been extracted, II
is said, but this ~ from all the company's
claims.
A cablepram WIS received here Yesterday
from London by L. Il. Chadbourne, CON
6rming the report Of the consolidation of
the Carlisle and Empire mining companies.
About two weeks ago the latter company
met and agreed 10 the consolidation, and
Yesterday the London company met and
also agreed 10 the change. In Il few days
both companies will meet and effect
the amalgamation, the result of which
will be that new company
will be formed under new name. This
will make a very strong combination. and is
brought about 10y the recent purchase Of the
Phil Shenon mines. One payment has been
made ON the purchase, amounting TO $3.50,
and the balance, being Slt2,5OD, will soon
be Forthcoming. One OF the Empire mills
will be shipped 10 the Phil ShenOn, and in
a short time there will be new life around
TINT mine. ns well as nj Empire. as the
nmalpamution will have the effect of placing
the Empire properties on sound financial
footing The new corporation will have
capital of t.I25,0D.
Major Budd stock is climbing and now
has reached the 35-cent notch.
The 81. Louis syndicate. which recently
acquired control of the West Granite mines,
is gobbling up all the floating stock, and II II
said that not more thnn iO.On shares are
ON the ST. Louis market. The stock il firm
at a little more than 81.
A ~. Louis broker n few days ago pur-
chased all the stock of the q. X. ~ N. re-
naming in the treasury and will in n few
days list II On the ST. Louis Mining tx
change.
Copper is decidedly lirmer than nj any
time since the collapse of the French COM
bination, says Bradstrcets. Boston adyices
the first of the week stated that buyers of
Lake Superior ingot could not get the metal
at lie, per pound while HE. was asked.
The latter price indeed. IL said to have
been determined on 10y the principle lake
companies On that basis sales for de-
livery next year have been made here ia "A
considerable exteni. Consumersare buying
freely, and holders are not AT all disturbed
by the amount of copper ON hand. AT some
points, in fact an actual shortage Is ru-
mored In the Boston stock market mining
shares have been exceedingly active within
the past week, and advances in the quota
tions have been the rule. Tamarack has
touched l33. The price for this stock II
month ago WAS l0i. Calumet a. Hecla dur
ing the same time has picked up from PA to
2ll