The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-02-27
BIG MINING SALE.
Particulars Of the Two Million
Dollar Deal just Made In
Idaho.
Henry Bratnober Completed the
Negotiations and Talks
About It.
Moustais-O Other Newsy Mis-
Ing Notes.

An Associated press dispatch published
Yesterday briefly announced the completion
Of a deal in Boise City whereby the famous
Dc Lamar group OF mines we're sold for
100000. or about q, 00O,0OO.
Mr.. Henry Bratnobsr, the wsli.known
mining expert, who successfully carried
through the sale Of the Elkhorn mine, also
completed the deal for the transfer OF the
Do Lamar properties. He returned to Hell
sna yesterday from Idaho and cheerfully
gave an INDEPENDENT representative the
particulars Of the transaction. +
The purchasers are the Financial sud
Mining Trust syndicate, Of London.
of which Mr.. Bratnober il q mem
bsr, and are the same company
which now controls the Elkhorn.
''Ths deal was completed on Tuesday" said
MI. Bratnober, "snd the deeds for the prop
crty arc in escrow. The consideration 10
g4OO,OO0. and Mr.. Do Lamar retains half OF
tho capital stock for his interest. All the
payments are to be mad before May. but
We shall reach a settlement during April.
with the exception of the Anaconda and
Granite Mountain mines ] believe We have
the richest mine in the west. Enough ore
10 exposed 10 pay for the mine without
making another stroke OF development"
How did you come to find this prop,
srty?"
II have been working TO get it for about
YEAR. or since the Elkhorn deal was com
pleted. II il situated about seventy miles
south Of Boise and fifty miles from the rail
--. T. L. n-~n1 ovNluaivatv hV 1O00nb
r. DeLamar, and the town there 10 called
after him. The sale includes the transfer
Of twenty-six lode claims and twsnty-six
mill sites; q twenty-stamp mill. water
riphta, buildings and other appurtenances:
Eight Of the claims are patented, and
patents srs being applied for on the others.
"The property was nrst Iocatea y .oIo,
but up to about eighteen months ago very
little work was done on 1t. Meantime MI.
De Lamar bought his two partners out,
paving them $500, 600. lie drove q tunnel
by which the mine is developed. and bought
= twenty-stamp mill. The mill was
not fully completed as INT, ,ha ' %ino 'o hss
turf turned ont fully 100000. There is a lot
Of good shipping ore and ths last car
shipped to Omaha went 7Sb ounces In silver
70 the ton. The monthly output Of bullion
from the mill averages $4,000, while the
s ss.sTn 81 from ts from tns 'l s95,o5S a se &. Sa' &c res
month. For the month Of November the
gross yield was $4,000. and 1t is Keeping up
this record.
1.-The mine il q peculiar formation and
there is nothing like 1t IN Montana, nor
have / seen n elsewhere. Look at this"
Here Mr.. Bratnobsr exhibited three bsauti-
full nuggets of argentits. THAT" he
continued, Contains So per cent. silver.
All that 10 necessary il 70 drop it into q
crucibls and cast it into bullion q It VIII
Of the Montana mines. This a%rRentite
This f'' ciay is rich also, and
varies from six inches T. two feet
wide and follows the hanging wall: The
clay contains gold and ~ silver a ana sdo n IN tns
per ton. The clay deposit is developed SOC
feet long. This is all shipped to a smelter:
Tit principal body OF ore carries more gold
b silver. This is the milling ore. Tit
vein is along the hanging wall and ietwenty
feet wide. The bullion from this large
vein is worth $2.20 per ounce.
''There arc no hosting works at the mine.
All the ore 10 extracted through q tunnel
now in 800 feet which taps the ore bodies at
a depth of 300 feet from the surface.
low, which will tap the ore in about four
months. Reports have been made on the
property bv Mr.. Bennett, Captain Plum
mer, Mr.. Alfred Wartenweiler and myself
and the English people are we'll pleased. II
is our intention 90 ?oon as We
take po'' :;%ss tb TO mi lneses. c.uac "
eve expect to sxpend $4,000 in equip
ping the mine for an increased output. At
PRESENT $50 men are employed IN various
capacities. Mr.. DeLamar owns . hne hotel
there which cost him $4,000 and at an out
for the men. This is the only mine there
and no other business ID carried OH in the
camp
Mr.. Bratnober il staying At the Merchants
for a few days. Speaking OF the London
mone market he says it is in much bettei
far better than when the Elkhorn deal was
contaminated. He hes NO doubt about thu
= money being forthcoming to complete THU
latest negotiation. The London people are
to be congratulated on having such An able
representative on this side of the water al
MI. Bratnober. Such men not only belr
the mining industry, but the bringing Of
foreign capital to this country adds to III
general prosperity.
The steady decline in Granite and Ri
Metallic shares, as we'll as Elizabeth, con-
tinuss in the st. Louis market. A private
telegram yesterday announced that Grant.
Mountain shares had dropped to x35, n fall
OF Is per share since Monday. W.. G
Gooding reports a sale of 100 shares on that
basis. Since the downward tendency sc
in the mine has deprecated in value abou
$4,0C0,OO0. The stock is extremely wsak
and the pressure TO sell il growing greater
To the decline in silver 10 attributed tn,
cause of the break in the value of shares
and the reduced output is also having IL
effect. The cause for this, however, &C
cordinQ to President Rumsey. il that tn,
upper Slopes are being worked out to clos,
them up. The ore in these is low
grade. but they have to be worked to saw,
the ore. Wbsp work ON the lover laval