The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-11-22
THE MINES Of MONTANA.
How the Elizabeth Auction Sale Of
Shares Is Regarded in
st. Louis.
News OF the Great Industry From
All Parts Of the
Estate.


II will be remembered that during the
negotiation of the West Granite Elizabeth
mining deal, one man appeared on the
scene who was obstinately opposed to the
transaction and who strenuously fought it.
That man was MI. L. A. Coquard, Of st.
Louis. He 10 wealthy and has the reputa-
ton Of being fighter when aggravated,
but not in pugilistic sense. He brought
suit against the old directors, alleging all
sorts Of illegalities IN. the deal. HIS
puonacity Is said to have been the result Of
On effort on the part Of those on the lin
side'' to leave him out in the GOLD. In st.
Louis the notice published to the effect that
the trustees of the West Granite and EliZ-
abeth Mining companies had in their pos
session and unexchanged over 1900 shares
Of Elizabeth stock, which will DO sold at
public sale on the 18th Of December IL mot
exchanged for West Granite before that
time. was the cause of considerable gossip
and comment among brokers, from
the fact that i. A. Coquard fought
the sale OF the West Granite to the
der Of some ~, 600 shares Of old West Gran
lite stock, which he has refused to exchange
for Elizabeth on the basis of two for one.
The notice of the sale of all unexchanged
stock is considered q move on the part of
the syndicate, says the Republic, to force
shut out. Mr.. Coquard is at present out
of the city and what he thought Of this
move could not be learned. It is said, how
ever, that he has been aware that resolu-
ton of this kind was passed at the last
meeting of the Elizabeth company for sev-
eral days, but has paid no attention to it.
His suit against the company comes up. it
is said, at the February term and he will
probably take no steps until this is decided.
There is other stock out, but it il 90 SCAT
tered that with all their efforts the compa-
ny have been unable to trace It, and it is
ing with the law, which requires them to
give notice and sell stock thut has not been
exchanged up to certain specified date.
In Philipsburg's District.
A body of good ore has recently been de-
veloped by diamond drill behring's and BY
winze upon the Hope mine at PhilipsburR,
Mont, though the extent thereof is not yet
determined. Superintendent Ringeling
states that new shaft, called the "Cuno,"
is being started to tap the rich ore found in
the winze at about the depth of forty feet,
and if Indications prove favorable the same
can be continued down to cut the vein dis
covered by the diamond drill at 206 feet.
is difficult to decide as to the value of the
milling ore as the first and second classes
are found together, but it as good as that
now being mined the battery should run
about forty-6ve ounces.
the Granite Mountain, regarding the late
strike in No. ID east, says that the streak
has widened from three to five feet. It is
still low grade yet, but contains pockets Of
ruby. The stock was stronger yesterday
and ton shares brought $3.50.
Mnil: Last Saturday the work of CROSS
outing to the vein was commenced in the
Elizabeth shaft at the depth OF 45S feet
from the surface. It was generally under
stood that the crosscut would not be COM
menced until depth Of 500 feet had been
attained in the shaft. but lately the water
has become 90 bothersome that to continue
the sinking would be quite difficult with
the present facilities for disposing Of the
surplus water. Elizabeth stock is now
quoted at from 1920 to $3.50. but it is the
general opinion that it will advance rapidly
soon az this news is made known in st.
Louis. Many Of the Oldest and most prac-
tical mining men in this section have every
confidence tibet the Elizabeth company cam
not avoid striking the Granite vein In the
present cr0sscut.
Several more men have been put to work
at the Bi. Metallic extension since our last
publication, and the shaft sinking Is we'll
under way. President Gilfillan, Of the
Granite Miners union ID among those who
have lately been employed by this company.
The Mines Of Castle.
White Sulphur Springs Husbandman: A
correspondent writing from Helena asks if
there is any timber land to be had within
three miles of Castle, the price Of cord
wood, and if family could and an OPEN
ing at some Of the mines for keeping q
boarding house. The mountains are COW
cred with timber and much of the land is
not yet occupied. Wood is worth 81 per
cord. and we have no doubt but that
boarding house location might be found in
the camp, though we are not informed on
this point. The coach fare from Townsend
is $5, and We suggest that visit to the
mines might be wisest before going there to
locate 90 late in the season.