The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-07-12

The directors OF the Fourth OF July COM
.pany held business meeting yesterday.
Hon. Jos. K. Clark, president of the COM
pany, was present. He presented state
ment of the returns of a recent shipment of
first and second-class ore that was treated
ut the Colorado smelter in Butte, and the
s nsss 70 sns e
ton, which. at the present price of silver
q O6 per ounce-nleans $495.O2. The Sec
ond-class ore returned 2O215 ounces per
ton. This is truly great showing and
there is little doubt that the Fourth of July
mine will prove bonanza. This property
is located in the Okanogan country, in the
far northwestern portion of Washington
state.
MI. G. B. Garrett resigned as secretary
and is succeeded by Geo. M. Hedrick of
abandon the pyrotechnic stock certificate
devised by j. X. Pardee, and lithograph
certificates of high order will be secured
when it will be necessary for all sharehold-
ers to have their stock changed.
pended nearly $4,000 thus far in develop
ing and equipping the mine and SO we'll
pleased are they that they will expend 500, :
600 if necessary. A report from the super
intendent was read at the meeting The
feet and prosecuting to tap the old work
ings for the purpose of reaching air is be-
ing pushed, and an upraise to connect with
the old shaft will be made thus affordin9
ample ventilation. After this is accom-
plished the main shaft will be put down to
tho 200 foot point before prosecuting to the
lead.
Mr.. Chas. Kaufman, who has been spend
ing few days in Montana looking after his
interests, leaves for St. Louis tonight and
Is highly pleased with the progress being
made in the various mining enterprises in
which he is interested.
Yesterday the INDEPENDENT announced
that the Helena and Frisco company, oper-
ating in the Occur d'Alene mining district
and near Wardner, had paid dividend OF
1000 ON the I'd of this month, and to-day
q second dividend for July amounting tc
80, 600 will be paid at the First National
bank, making $4,000 paid to date. The
directors held meeting yesterday declar
ing this dividend. Here is without doub
one of the incest pieces of mining property
in this whole section of the country and il
is owned exclusively and entirely by sever
gentlemen of this city. They are ex-Gov
8. r. Hauser, A. M. Hotter. John I. Muir
ply. Hervey Barbour. =. ": knight, Jr.
company has decided to pay go, 900 in divi
dends each month. payable semi-monthly
The Helena and Frisco company has bee,
in existence about two years. They pait
$ll6.OUU Tor the properly, nave eXGenSlvel'
developed it and built seventy-ton con
centrator, which began operations las
August, and they have sixty men Oh thel
pay roll. They have taken out the none,
paid for the property since last August
paid all working expenses, and during tn
mast four months have paid $50, 600 in divi
dends, with the outlook brighter than eve
and the promise of a monthly income
Mining therefore pays. The Helena ant
Frisco properties are silyer-lead PROPOSE
ti0ns.
!. T.. Chadbourne and Ben Folk returned
yesterday from an inspection of the Rober,
Burns mine in the Upper Basin district
The Upper Basin is attracting great dea
of attention among mining men, It is 6
locality with every indication of future
greatness, and the sooner its resources are
developed the sooner will that time come
A ma jority of the mine owners in that sec
ton are prospectors-generally class that
work all winter for a grubstake and Their
devote their savings to developing theil
property. No section of Montana has tinel
prospects, and all that is necessary te
demonstrate this is the judicious invest
ment of capital. Among the prospects il
that section of great promise is the Aryan
1t has fine gold lead and efforts are nov
being made to develop it. Some of the or,
was brought in a few days ago and it haC
every appearance of being high grade.