The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1889-10-20
Local Mining Now.

Mining matters have been pretty active
during the week, the West Granite suit, the
Empire-Carlisle consolidation scheme and
the Southern Cross and the doings in Iron
Mountain furnishing the chief topics Of
! conversation. II il said that Il. 5. Hale
purchased 1900 shares of Iron Mountain AZ
81 .05 instead of 5000 shares M reported yes
terday. Among the other men who have
been fortunate in this deal is Ed thinner
man. who purchased large block at twenty
cents per share and sold the same Mt Sl.0j
per share. The stock is now held at $l.25.
and considerable interest is felt in the result
of the meeting called for tomorrow.
The Fourth Of July mine in the Okann-
zan country is again coming into prom-
nence. A car load of ore was received from
there at the Helena smelior yesterday.
The result of its value will be known in a
few days.
The Fourth of July is the property which
j. X. Pardee and Sam j. Silyerman en-
deavored 10 sell To n Helena syndicate last
spring. Some very fine ore WIS shown
which hud heen taken from the mine which
WAS then n mere prospect, but had nm ex-
cellent showing, the ledge having been ex-
plored by cuts for drainage of $500 feet
The shaft was only down about sixty-ivc
feet.
Capt. Plummer WAS sent out 10 examine
the property and he reported that the de-
yelopment did not Justify the disbursement
Of so large nmonlt of money as the owne 9
asked for IL, and the deal was declared on
Ever since then. however, the property
has been worked, and now il has shaft
down over 2tD feet and extensive work done
in "A - IL.
ter did not dcpreciate in value, hut devel-
oped stronger Mt the bottom than IL did in
the upper workings. II liz understood now
that the Helena syndicate is again negotia-
ting 20 get hold Of il.
Great Falls is lucky; that is, il il secures
the prize IL covets--the Boston a. Montana
companys smelling and reduction works.
There IL every reason 10 believe that Cap
tain Couch is ambitious to erect plant
equally as extensive as the Anaconda plant,
which represents an outlay OF SG,O0O,0DO
The Butte press made a vigorous effort 20
convince this company that the Big Hole
valley, down the line Of the Utah a. North
crn, Ia Silver Row county, was the only
spot IN Montana where "A smelter plant, of
the proportions that the Boston A Montana
company propose building, should be To-
Gated. II is perfectly natural that Butte
should strive 10 get the prize. Helena
W ihN' " hlNp. Uul sue VIII bt
just as well pleased il our northern neigh
Dor captures Il, as Helena will be benefited
in commercial sense.
The Three Forks enterprise Of the Ana
cOnda company will hardly he innugurnted
this EeaEon, but that the electric refining
works will be erected there IL practically
settled.
But little change is noted in the price of
mining stocks this week. West Granite
hns slightlx advanced 40 has Iron Noun
tain and Southern Cross has no sellers; but
remains firm at ~ cents.
In 81. Louis last Wednesday West Gran
lie stock came out strong nj $l:l2& when
some one showed n mysterious telegram
and the market rapidly broke and a
Hood Of stock was let out, 10000
shnres goiny at Sl.0b and Sl.07k.
Last Wednesdays st Louis Republic has
the following little incident in Frisco stock:
A very pretty little boom in Frisco stock
was inaugurated and put in force by Leon
Goldman yesterday, which was worked so
shat he pulled the wool over
the eyes Of two we'll known brokers and
scalped the market for quite tity little
sum. The market opened nt 30 and sold
down 10 4bc before Goldman took IL in
hand and ran il up 10 SIC, buying several
thousand shares in 40 doing. He then bulled
II for all he was worth, and, getting the
crowd excited the two brokers above men
toned tailed on, and he dumped 3, 900 shares
at 7c From this il dropped back and closed
at BIC bid, with sellers at &c. Yesterday
was the last day for the stockholders TO pay