The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-03-14

this time ia only 1,450 feet which is in tn
Lexington mine. There are many inquire
about mining properties in Montana at I'll.
present time. Brokers in Helena are con
atantly in receipt Of many letters. and the
inquiries come from all quarters, Tn,
signs OF the times are that q great deal o
eastern capital will be invested in Montan,
mines this year. The Cataract and Rec
Mountain districts south of this city vii
receive the full measure of attention the,
deserve. Every n conversant with the
formation Of the mineral bearing lodes o
these districts predicts a great future fol
snem. Nearly every property worked last
year produced ore that not only paid fol
prosecution Of work this year on a more
extensive scale. Mr.. Gooding, the stool
broker, reports sales ct %, 900 shares yes.
terday, and 1t was not a very good day
either. -
Many rumors are now current regarding
the East Granite, to the effect that a CON.
trolling interest of the capital stock 10 un-
der bond to st. Louis capitalists who are
familiar with the property. The develop
ment of the East Granite has been watched
with a good deal of interest and no impede
ment has been thrown in the way by the biz
companies in the prosecution OF the work.
The report 10 that J. X. Pardee and his
partners, who are said to own 2sO, 600 shares,
have been offered a certain price for their
holdings, based upon the report of a mining
expert who is coming out to look over the
property. The gentlemen interested in the
transaction are Charles Clark, a large own
eI in the Bi-Metallic.. J. H. Dieckman,
Charles kaufman and the Taussigs. It is
ceived an option on 10000 additional
shares. In st. Louis it is reported that the
stock has been actually purchased. In this
connection the Republic says:
The amount paid for this stock could
information regarding the deal was met by
denials on the part of those who were said
to be interested that such a deal was going
on or was contemplated. A gentleman who
claimed to know, however, said that not
only had an offer for the stock been made.
but 1t had been accepted by Mr.. Pardee,
and the only hitch was that the syndicate
Desired further time in order to examine
the mine. which MIR. Pardee was not will
ing to grant. 1t was also said tina should
the deal 90 through the Office of tho com
pany would be removed to this city and the
trustees would be st. Louis men.
The Kepublic's reporter interviewed Mr..
Charles Clark in regard to the rumor, but
that gentleman seemed rather averse to
talking about it, but at the same time he
said he had neither purchased Mr.. Pardee's
interest nor did he know that such neRo-
tiations were going on. Another of the
gentlemen interested, however, was more
communicative and admitted that. some
sort of negotiations had been going on, but
they were in the nature of an option for
of which would depend entirely upon an
examination to be made. No proposition
had been made to purchase Mr.. Pardse's
holdings without examing the mine."
Ths East Granite property lies east and
south OF the hoist OF the Granite Mountain
n nina nm thn = sn ~vNr Aa~sA
near neighbor being the ~Sunnyside claim of
the Granite company, on which a RUod
strike was recently made. The group of
claims owned by the East Granite COM
pany consists Of the New Departure, Mon
treal, Boston. WEIGH aud Black Rock.
attracted the attention of all interested in !
mining on Granite mountain, and the de-
velopments since work was commenced a
few months ago are such a. to lead many to
believe that another great 0re-bearing vein
running parallel with and south Of the
Granite has been discovered.
The Philipsburg Mail of the 18th instant.
IN speaking OF the weeks results by the
East Granite company, says: The main
shaft OF the New Departure is sunk to a
depth of 1870 feet, and the management have
positively decided upon making the CROSS
was the original intention to make the
crosscut at a Z distance of 40 feet, but after
attaining that depth they felt justified in
going down to the 200. foot before COM
mencinR it. This crosscut will be extend
ed through the main vein north to the new
shaft on the Montreal claim. There has
been sufficient development to convince
the management that a vast network of
feeders lie between the two shafts, and
when they are connected valuable discov-
cries IN quartz are looked for. These spurs
from the main vein are known to
have Wi0AnQ6 from kbroo Srohnu - k-~ r. |
In a distance in depth of fifty feet. In
grading q road north from the shaft early
last week, 1t was discovered that groupings
the lead existed nearly 200 feet from the
shaft. When the workmen made this
to the superintendent two shifts of
men were at once set to sinking u shaft on
the new ind. The stockholders meeting
will be held at the company's office in
Philipsburg on Monday next, the 10th.
General Manager j. X. Pardee is expected
to arrive from New York about the middle
Of April.
1t is definitely learned that the Elkhorn ,
rompany's regular quarterly dividend was
in London ON Wednesday. The .
smount was two shillinRs per share, aggre- :
eating about $1,000 (. It is Capt. Plum ]
ner's intention to endeavor to continue !
dividend regularly. I
Az to the DeLamar sale of shares it ia I
laid the number of applications were three !
old greater than the amount offered and
hat sold brought Il premium of 1s Cd. The
capital stock Is 4400, 600 in shares OF 81 q
ZACH. G
Mining Notes. j.
TIL Combination works at Black Pine v
will resume April l.
The Bi-Metallio Extension COMPANY had !
ONE trouble with water during the week.
larger pipes were supplied and work Is
gain under way.
The metallic shipped twenty-fou bars Ct
I bullion last Tuesday. n
The Granite Mountain output for the !,
EEK was thirty-ni hRrs. containing bS,- y
% ounces silver and 240.4 gold. \
The blast furnace in the Southern Belle "
meter at Barker was fired Saturday night.
: lou a. m. Sunday morning the bullion
was tapped. and up TO 10 a. M. four II
ars OF bullion had been run out.
Nix man ha VA haau aIda1 ~ Ar ..