The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-07-07
FORMAL Opening Of the New Stock
Exchange in the Big
Silver Camp.
Promising Developments in the
New State In the Orc Elmo
District.
0eo@1eo Of Great Wealtl-The Stock .Jumn
from Fifty Cents to Five
Dollar.

AUS
been but little change in the situation in
this camp during the past week so far as
the mines are concerned. Silver and cop
per have again ruled high and firm in price
] and the producers are encouraged toward
further increase of capacity. The only To-
cal ripple has been caused by the formal
opening Of the new stock exchange. For
some time number of the leading local
dealers have been working on this organiza-
ton and they now feel justly proud of the
success that has attended their efforts. It
starts out with paid-up membership of
fifty and has fully 700 in the treasury for
o reserve fund. So far only three calls
have been made and but little business has
been done, as it requires time to got such
an institution in order as we'll as it would
for any other business. Each call, however,
has developed q new interest and to-day
the sale was decidedly brisk, several thous-
ands of shares in the various properties
represented changing hands in a very few
minutes. When once thoroughly at work
this institution can hardly fail OF being
portion of the state. 1t brings them before
the public and fixes upon their stock def
mite value which cannot be gained through
the medium of private sale. Great things
are expected from this new enterprise.
The sensation of the week has been the
great find made in the New State, one of
the most promising properties of the Orc
Elmo district. They have been sinking
shaft on this lead for some time and a
few days since they cut the lead at 200.
than had been found above, but were not
prepared for the wealth that was disclosed.
A two-foot vein was disclosed that
was SO rich in silver that
pure article more than the
ordinary ore. Most fabulous stories have
been circulated regarding it's richness, but
the truth is perhaps unknown to all save
those directly interested. Some idea of the
value they place upon it may be gathered
buying up what little stock was outstand-
ing in face of the fact of its having jumped
from 80 cents to S.. Some time since a
party of Salt Lake capitalists evidenced
their faith in this mine by buying up all
the treasury stock at 80 cents, and they are
. now reaping speedy and rich reward.
Another property that has been making
steady strides forward is the Hiawatha,
which has grown wonderfully in public
favor during few weeks past. An exceed
ingly rich find has been made here, though
its rock has been paying almost from the
first. The holders of Hiawatha stock have
been exceedingly fortunate, as it has paid |
for it's own development to date and there |
is &c. 600 now in the treasury to be used in |
further improvement. Orders have been sent |
in for the machinery necessary to sink |
the shaft to the QUO and work upon |
the new hoist will be commenced at once. |
The lead has never been cross cut, but they
know they have ten feet of pay rock in
sight with limitless possibilities on the
other side. Should it's present promise hold
out, it will prove one OF the very best prop
critics in the state.
Drs. Mussigbrod and Mitchell have re-
Gently bought a gold mine and two mills
with q combined capacity Of twenty tons
Deer Lodge county. The ore is said to be
unusually high grade and free milling, 80
that nearly all of it can be saved. The
vein is wide and crops out upon both sides
of high mountain, exposing. enough rock
to make the purchasers safe. They re-
gard their purchase as fine one and will
push the work of development as rapidly rs
possible in order to determine the actual
value of their new property. Their estab-
lishment and work will doubtless draw
Gulch, as both aae known to be careful and
experienced men who rarely make mistakes
in their Judgment on such property.
Reports from the Park Canyon district
show it to be more active than ever before.
even when the Switzer tunnel was in full
blast. A large force of men are being
worked there steadily and still larger
force are securing the hills daily in search
of new bonanza. Charles Farrell, of In
dependence, is pushing down the shaft on
men can do it, and is meeting with better
prospects with the passage of every day.
Con Sullivan is doing the same by the
Homestake and feels confident that surface
promises will be more than fulfilled in the
depths. His mine is the most promising in
the district and is being the most systemat
ically worked. All are doing WE'LL however,
and this camp bids fair to be heard from
before long as one of the foremost proper
ties in the great state of Montana.
The work of clearing out the Anaconda
and st. Lawrence mines in this camp has
been greatly retarded during the past week
by the presence of noxious gases that have
kept the men out of their lower levels. The
reason for the formation of these gases is a
matter of discussion though they probably
result from the charred remains of their
great fires. Every possible means are be-
ING used to secure ventilation in both mines
and it is hoped that before many days have
passed work can be resumed in full force.
Among the properties recently reclaimed in
this camp is the Minnie Haley at Meades-
is wonderfully short time, only 40 hands
being occupied, and when the volume of
water handled is taken into consideration
the admirable manner in which the work
was conducted makes the work grow more
apparent. The mine is now in the hands of
active and experienced miners who have
already given ample proof of being fully up
in their work. It may be expected among
the dividend paying properties at no distant
day.
Helena Typographical Union.
At regular meeting of Helena Typo
graphical union held Sunday, July 6, the
following officers were elected:
President-D. McCallum.
VIZ r