The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1889-11-14
AMONG THE LEDGES.
OUR MINING EDiTOR'S WEEKLY
REPORT.
Granite Mountain Output and An
nuas ssenOr:- Another Rich Strike
Interesting Letters from Orc
Elmo and Gray Rack Gulcn-Etc.
GRANITE MOUNTAIN.

l
| The output for the week ending
November Il was so bars of bullion, con
tanning 1890 ounces fine silver anc
15o'O5 ounces fine gold.
| The Granite Mountain Mining com
pany has made its annual report. Fol
lowing are some of the interesting points
Of the document and the various othe1
Interesting items relative to the property
| The total product Of the Granite mines
at government standard value has beer
SIS, 1896, 1858. while the total receipts
we're $1O,9SS, ,8O0.24, showing that the
demonetization Of silver by our govern
ment has cost the company to July 81
1889, S3,346, ,335.14, or over 80 per cent o1
the gross income.
President Rumsey also says: Il am glac
| to say that our company has acquired
about all the property necessary for ou,
purposes in the conduct of our enterprise
SO that we may now devote our energies
and means to the working and develop.
ment Of properties already acquired, and
to add largely, we trust, to the materia
prosperity OF the nation and the world
| During the fiscal year ending July 81
1889, we have paid out IN twelve dividends
$l,9OO,000. This makes an aggregate OF
|
ticipate d part of the report of the next
fiscal year, let me say that on November
9 we will pay dividend No. SO, which
will make S7,600,OOG returned to stock
holders since April 8, 1885, Or $40 pei
share on our capital stock, consisting OF
i 100000 shares Of the par value. of S25
The first chapter IN the history of the
organization Of the Granite Mountain
|
MAIL before, and is Ill substance as fol
lows: The property was originally located
in the autumn of 1872, but was allowed
to lapse from time to time until July 6,
1875, when the claim known as Granite
Messrs. James w. Estill, Eli d. Holland
and Josiah NJ. Merrell and recorded July
IA, 1875; and the claim known as Gran
ite Mountain Extension lode claim was
located November 80, 1878 by David
By deeds dated Oct. IS, 1880, Charles D.
Mcclure acquired title and by power of
attorney dated Nov. l, 1880, he granted
to Charles Clark the right to Sc all his
interest in the property. Until Mr.. Nc
Lure acquired the title, the claiams were
thought to be good prospects, but in
saSSSS0AOASs
little development work was done prio,
to the autumn Of 1880. Mr.. Clark was
able to interest the following gentlemen
so as to form a syndicate to demonetrate
the value of the property, viz: Charles
Clark, Louis Duestrow, August B.
Ewing, o iver B. Filley. Samuel Gaty,
Edwin Harrison, Jesse L. January, John
r. Lionberger, Lewis VI. Rumsey, Moses
Rumsey, Augustus F. Sharpleigh and
Charles Taussig These gentlemen
completed their organization as a syn
dicate Dec. "a, 1880, Mr.. Mcclure retain
ing the largest interest.
ANOTHER RICH FIND.
Charles Carpp and D. r. S. Frazier
are the happy possessors of some mining
property located near Bald Mountain, in
an unorganized district, that from pres
ent indications will eventually be known
among the most valuable finds yet made
IN Montana. This property lies about
twenty-slx miles due south from Philips
burg, and was located by Mr.. Carpp on
the 9th of July, this year. It embraces
three claims, known as the Monarch. the
Sun and Pine Forest. The only develop
ment work done has been on the Mon
arch, which is supposed to be the richest
of the three, although the Sun is known
to be on the same lead. A shaft has been
sunk 26 feet, showing lead feet wide,
with pay streak of eight to twelve
inches, assaying all the way from IS to
$500 ounces in silver, with trace of
gold and slight amount of lead. They
have taken out four hundred sacks of
this grade of ore, and have packed one
hundred and fifty of them out to Porter's
ranch, distance of nine miles, where
it will be loaded on sleighs ard hauled
to Philipsburg as soon as enough is
packed out to make a Shipment. The
Monarch claim is in lime and porphyry
formation-abou 400 feet from the con-
tact. The Vein is getting larger and
richer as depth is attained. Many min
ing men have visited this property in the
past few weeks, and all report it as being
the most favorable looking prospect they
have seen in the state. Next week four
men will be put to work developing and
taking out ore and as soon as spring
opens wagon road will be built to con-
meet with the Rock creek road at cost
of about $500. That this discovery was
not made long before Mr.. Carpp says is
mystery, as there is plenty of float to
guide the prospector; but as it is in a
very rough country the average prospec-
tor would avoid it.
Conroy & Maloney have a prospect
under way of development near the
above mentioned property that is looking
we'll and may prove as rich as the Mon
arch.
AL Porter has also good showing on
a claim near by, from which he has had
assays made that show $40 ounces
silver. This constitutes all the work
being done in the district at present,
but when the spring opers there will in
all probability be quite rush of prospec-
tors in that country, and when the wagon
road is completed it will virtually open
up another rich mineral district with
Philipsburg its headquarters.
THE WEST GRANITE NO MORE.
A deed was filed for record in Deer
Lodge last week, transferring the Rattle
snake, Butte, Clear Grit, Fraction, Ala
media, Little Daisy and Elizabeth lodes
from the West Granite Mountain mining
company to Chas. S. Taussig. This
virtually disposes of the West Granite
forevernore, and if nothing further
comes up to delay proceedings the Eliza
beth mining company will soon COM
mence operations on the property that
has so long laid dormant.
B1-METAL11c.