The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-07-17
THE MILLIONS IN MINING.
Official Figures on a Great Industry
Which Is Attracting Attention
in the East.
The Capital Employed and the
Profits Some of the Mines
Have Returned.
strtk a. in Jefferson County-Electric Drills
Abandoned by the Last Chance Com
pany-The spokane Smeltcr.

The volume on "Mines and Mining" just
issued by the census bureau has proved a
revelation to those who have money to In
vest. 1t has been pretty we'll understood
for some years that a great deal OF eastern
money is earning a large income from mines
in the west. Very little is said openly upon
this subject upon the principle probably
that when men have a good thing they try
to keep it to themselves, and the policy of
silence is an important factor in any such
desire. 1t ia generally recognized also that
the mines have built up the western section
of tho country and that such prosperity as
is reported from that section comes mainly
from this source. But exact figures have a
business ring to them that is lacking in
generalities. and the present aggregate re-
ported by the census bureau are well calcu-
lated to surprise and attract investors.
When figures such as the csnsu bureau
has just issued como to the attention of in
vestors under conditions like the present it
il not to be wondered that inquiries are SGT
on foot by those who want to place their
money safely and probably, with the view
of learning just whore 1t may be placed SO
that it will be as safe in respect to manage
ment and business care as it is in any other
line of industry.
The census figures show that the mineral
products of the United States amounted in
June of last year to 1856, 9ss, 45e. the great
est total ever reported for any country;
that there are 10000 industrial mining
establishments in the United States,
employing 5l2.11+ persons, paying in
annual wages .$2l2,4 o9, 500. and en-
gaging capital to the amount of S1,l73.Oo0,
AnN r. { ~rA.Js A. o,;,or ..~~S-n&r
Immediately available at that time amount
ed to more than 80 per cent. of the capital
invested in mines. since there is no posi-
BILE doubt of the accuracy of these figures,
except that they probably understate the
present situation, it is not a matter of sur
prise that eastern investors recognize min
ing as a legitimate industry, and are NIX
ious to get on the track of mines, and to
associate themselves with mining men who
understand the business. and who apply to
it the same sense and the same ECONOMY of
management that are applied to other on
terprises.
Among the best known mines that are
managed on business principles and that
yield to their shareholders q good income
the reports Of earnings are most encourag-
ing to those now looking into this matter.
The Ontario mine pays regularly to its
shareholders $4,000 per month, and 1T has
paid altogether in dividends S11. $4,000.
Tn Granite Mountain mine pays $500, 900
PER month and has paid in dividends ST.
O00,0 900. The Homestake has paid in divi-
dends 81, Toe, $50, and it pays monthly $25.-
900. The DAILY mine has paid to its share
holders 81. a50, 900, and it's monthly profit is
$37,50O. Upon the capitalization of 81, $780,
600 the Yankee Girl has paid in the last
nine months dividends of S455.C00 and has
paid altogether $1,000 900 i'll dividends.
With a capital of $500 900 the New Custom
min has paid since November, 1888, $722,-
500. and during the nine months ending
April 1b it paid $275, coo, or at the rate of 80
per vent per year. sixty-nine mines now
eport dividends for the first half of the
present year of nearly $s,000,0 600.