, 1890-07-10
SOME FINE MINES.
The Paciho Bullion Mining Com
pany's Property to Be More
Fully Developed.
President Oakes and Other N, p
Omcials Buy a Large Block
Of the Stock.

The work Of reorganizing the
Pacific Bullion Company was con-
summated Monday by q sale of
onc-third of the entire stock OF the
company to q number Of promi nent
capitalists. A reelection of officers
was also held, and new articles of
incorporation drafted, which will
make u change In the management
and dircctorship of the company.
This movement has been In prog
ress for some weeks past under the
management of l.. G. Dillman,
whose purpose was to increase the
working capital and more fully do
velop tho mining property of the
company. The sale of stock,
which amounted to $4,000, was
made to II. +, Oakcs, president ol
the Northern Pacific railroadi n.
{. Thrall first assistant to the presl-
dent; j. Mcknight, general attor-
ney Of the Northern Pacific; w. :,
AIcllen, general manager of the
Northern Pacific; T.. q. Long and
j. II. Burwell, prominent capitalists
of st. Paul.
The new officers of the company
are as follows: T.. &. Dillman,
president; j. III. Stone, vice presi-
dent; n. &. Thrull, treasurer; w. B,
Cowgirl, secretary, and q, w.
Howe, general manager; and direc-
tors are as follows l., G. Dlllman,
G.. W. Howe, ". Is. Cowgirl, j.
II. Stone, j. +. Wolgamot o. B.
Nelson and N. G. ThalI.
The surplus In the treasury Of this
company Is S70,OO0 and the work.
ing capital 100000.
The property of this company in
cludes the 'rrinket mine, the Water
Jacket, both located at Nelson
Camp, and the Spokane mine, 10.
Gated at Warm Springs. Work Will
ut once be- commenced ON develop
ing these mines, and preparations
have already been made to place n
hoisting machine on the Spokane,
which has showed evidences oil con-
tanning galena in enormous guam
titles.
During this season about 200 feet
OF development work liz also eX-
pected to be- put on the Trinket and
Water Jacket, after which the sys-
tenn of transportation for delivering
the ore TO this market will he in.
creased by steamer, which will run
between n point on the Kootenai
river below Bonner's Ferry and
VAIN Springs, This will take place
during the coming fall and 1t Is sur
missed that the Northern Pacific
will connect with this steamer also
about this time.
The Pacific Bullion Company was
first organized by l.. C.. Dillman on
December Is, 1883, In Vancouver,
under the laws of Washington terri
tory, with working capital OF
5000. With this small capital II
has, however, developed 800 feet OF
work In these mines aud paid its
own expenses. Its stocSs originally
were worth only 2 cents, but to-
day are rated AT u cents, which will
undoubtedly Increase rapidly as the
development advances.
These mines have from the begin
ming shown wonderful develop
ments in galena ore, which, accord
ing to net returns from the smelter
at Omaha, have averaged n net re-
turn of $3.50 per ton. Ii is estl-
muted that by system Of tunnellng
which the new company will adopt
few months will bring In sight an
estimated lode ol 5000 tons. Should
this be the result, these mines will
prove among the richest I'm the en-
tire mining section of the North
west,