The semi-weekly tribune. [volume] (Great Falls, Mont.) 1890-1891, 1890-07-19
NOW OWNED BY A STRoNe COMPANY,
Cascade County People Hold tile
Largest Interest in the
Property. ID
Work Will be Carried on Actively
A Large Quantity of Good
Ore in Sight.


consummated in this portion of the state
was brought to termination Wednesday
by the purchase of the Moulton mine of
Nelhart by Great Falls syndicate. Just
a year ago bond was secured on this
property by E. @. Maclay, Ira Meyers and
others, to run one year, the owner receiv-
ing 81 900 in cash.
THE SALE COMPLETED.
The remainder ($49, 1000 of the price
agreed upon was paid yesterday and the
great mlne-for such 1t is proven to be-
IS now the property of the syndicate.
THE HISTORY OF THE NINE.
The Moulton is situated practically in
the town of Neihart and was discovered
and located in the early history of that
camp. G. P. Downing Of this city owned
it at one time, but he had several other
claims and concluded to let this one go
by default. 1t finally came into the pos
session of John McCassey, one of the
steady, industrious miners Of the camp,
who devoted every possible day of his
time to its development, with results
that should certainly be satisfactory to
him. Mr.. McCassey had faith in the
mine from the beginning and that he
was able year ago to bond it for $780,
600 was due entirely to the fact that he
had labored with undaunted energy in
its development and was able to show,
prospective investors something more
than hole in the ground. It was =
reasonably we'll developed property
when the bond was executed and now
with the additional work of the past year,
done by the syndicate, 1t comes pretty
close to the bonanza classification. s5.
THE NEW OWNERS.
The purchasers Of the Mou1ton are E.
G. Maclay, G. c. Maclay, Paris Gibson,
T. E. Collins, Ira Myers. joe Conrad, R.,
L. McCulloh, r. 8. Ford, e. q. ,Gnowcn,
W. 9. Lelstikow, A. W. Kingsbury, j. Fl.
McKnight, Jro. T. Murphy, W. P. Wren
and j. B. Turton. These gentlemen will
at once organize the Moulton Mining
company and proceed to develop the
mine on an extensive scale, at the same
time marketing their ore at the Great
Falls smelter. They will have no stock to
put on the market and it is doubtful
if any of the individual members of the
company would he willing to let go a
portion of their holdings, except at a
tempting profit. They know they
have good property, with more
money in sight than the mine
cost, and with every lndication that it
will be one of the richest and best pay
ing mines In the state.
PROF. KNABE's REPORT.
Some days ago the company employed
Prof. P. Knabe, the eminent mining ex-
pert, to examine the Moulton thoroughly
and make a report of the results of his
investigations. Prof. Knebe ranks at the
head Of mining experts in this state and
his favorable report upon the Moulton,
fully confirming that Of Mr.. Raymond,
the superintendent, proves the worth of
that property. We give herewith few
quotations from his report:
"The deposit Is without doubt true
fissure yein."
"In estimating the value of the nine,
only the ore actually in sight has been
taken into account, leaving out all ore
standing above the upper tunnel and all
ground below the lower level. This
ground not taken into consideration will
amply compensate for excavations made
by drifting and sinking. All measure
ments and sampllng on which this calcu'
lation is based were executed with al
due care and the assays are the results
obtained by the assayer of the H. & L. 3.
g. R. Co."
"The cost for mining, transportation
and reduction of the ores has been esti
mated at $50 per ton, the value Of silver
ut one dollar per ounce, while the leat
was omitted entirely from the calcula
ton. Assays of average samples"
mo. 1, from upper level, silver 49,;
o.; lead, 1879 per cent"
"No. 2, from the lower level, silver, A.
or; lead, 8.6 per cent"
"No. 5, from the bottom of the shaft
silver, 1870 o.; lead, 81 per cent.
"Ayerage value of samples and 2, aftel
deducting $50 for mining, reduction, etc.
$751;"
"Average value of samples 1, 2 and 5
after dedncting $50 as before, $685."
"Ore exposed to view between the up
per and lower levels, 1884 tons. Taking
the first average we obtain $5O,S25 and il
applying the average'of all three assays
S7b,572 as the net value of the ore stand
ing between the two levels Of the mine
| The net value of the ore on the dump il
| $7,885. In the foregoing statement am
| pie provision to insure safety to the pur
chasers has been made"
"In conclusion l would state that t.
Judge from the formation and some Shal
low pits on the surface, where the lode
exposed to view, the prospect Is fair tina
the Moultan mine will develop into val
liable property in the future"
suPT. RAYMoND's VIEWS.
| A TRIBUNE representative talked wit
Superintendent Raymond of the Moul
ton last evening and found him in
pleasant frame of mind over the conolu
sion of the deal. He thinks it is a grea
mine and that after further development
which viii include the sinking of
double compartment working shaft an
further exploration OF the lead, that
will be q regular dividend payer. Tn
bottom Of the present shaft If 116 fee
from the lower tunnel and about $50 fee
from the surface. Other developmeI
includes two tunnels and many feet 9
drifts. Supt, Raymond will begi
development work agaia in few day
land prosecute IT as rapidly as possible
| II ID the intention TO put the mine In frs
GLASS working shape and the owners ar
In no hurry at all TO commence 'stoI
ing"
WHAT JOHN A'GAssHy SAYS,
l I
Inhn McGassAY said n fhA TRIBIIN