The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1890-10-23
AMONG THE LBOGES
Our Mining Editors Weekly
Contribution.
TIIE BI-JIEFALLIC EXTENSION co.
Great Confidence Being Displayed in
the New Company by Butte Min
ing Men as we'll as Those IN Our
Own Vicinity-The Geld Coin Deal
The (.raEite-SIlen1 Friend Flee
tiOn-Other Mining News.

This new organization is steadily max
ing preliminary preparations for the ad-
vancement of the extensive work which
they are about to commence. There has
not, since it was Incorporated, been a
pick strike made in the ground, but the
most sanguine hopes are entertained that
the mine will prove success.
In regard to the outside confidence
that is fels in this new enterprise, the
Butte Miner recently gave the following
account of the demand for stock in that
city and Helena. It says: 'The re-
marka|le success attending the sale of
Bi- Metallic Extension stock by James 8
Leahy, the stockbroker Of this city, is
worthy of note as indicating the con-
fdence placed IN this enterprise by men
who ought to be the best judges of it's
hawk from a hernshaw. The miners of
Philipsburg and Granite, who are familiar
with The workings Of the ground, were
eager purchasers. Gentlemen in the Of
fees of the Granite Mountain and Bi-
Metallic companies bought freely. and
certaialy they may be credited with
full knowledge of the true worth of the
property. In Helena and here the stock
has sold almost as fast as it could be SUP
pied, and the purchasers are mostly men
who are thoroughly acquainted with the
prospects OF the new compaRy's ground.
Treasury ock will be Withdrawn froa
sale after the first of next month, so that
but little time is left for getting block
Of even few shares. The subscribers
will not be kept long in suspense as to
the nature OF the property, as the Bi-
Metallic company wi! commence to
crosscut on the Zeus claim shortly after
the LIST of November, and in less than six
weeks thereafter the result Of the work
and extent OF the strike will be known.
The Bi-Metallic Extension adjoins the
Bi-Metaliic, and its vein is an extension
OF that On the Ieus claim, which has ex-
cited he attention OF mining men every
where"
+. G. Freyschlag, a banker and promi-
nent merchant of Philipsburg and Gran
ite, and James Patten, one OF the Burg's
solid business men, are in the city, says
the Helena Independent. Their mission
is to purchase the necessary machinery
to sink 43O-foot double compartment
shaft on the Bi-Metallic Extension lode
claim. This is a pretty large undertak-
ing for company which has only been
few weeks. The gentlemen
were at Butte looking over machinery,
and before purchasing have decided to
give us a chance to figure against Butte.
The Bi-Metalllc Extension company com
prises already list of influential men,
and men of ample means to undertake
an enterprise as important as this prom
ises to prove. They start out with a
working capital of $4,000, and have
100000 shares of stock in the treasury.
So far mono of the treasury stock has
been offered for sale, that proving unnec-
essary. OF 100000 shares of the capital
stock already sold the purchasers have
been miners in and around Philipsburg
and Granite and business men acquainted
with the ground. The confidence thus
manifested in an undertaking which, at
this time, offers no immediate prospect
Of return, must have something back Of
it The company owns the only ground
in the great bonanza belt not already oc-
cupled by the Granite Mountain and Bi-
Metallic companies. Their property adj
joins the Zeus lode. one of the Bl-Metal- |
lie claims, and that company is now
sinking shaft to determine the extent |
Of the lead. Their present workings are
only 1000 feet from the new company, |
and the latter are confident that by sink |
ng shaft AGO feet deep, that by cross
eating, they will strike the riches now
sAjoyed by the Bi-Met allie company and
hat the stockholders will be rewarded |
By the 1st of November the value of the
leus lode will be determined, and che
success Of that makes certain the value |
If the Bi-Metallic Extension. The gen
lemen connected with this enterprise
lie very conservative. They will harbor
10 misrepresentation. They are in
ocality that precludes any doubt of the
existence OF the great lode and those
Who are willing to take chances on the
'esult have, at this time, everything in
heir own favor. A few months work
will make it known whether Philipsburg
> to have any other bonanza mines than
he Granite Mountain and Bi-Metallic.
Granite Mountain Deal.
i he rumors that have been so thor
9ughly circulated lately regarding the
sale Of the Granite Mountain