The Helena independent., 1892-10-23
MONTANA GEM COMPANY
Strong Combination Composed Of
Helena Men to Work on
Emerald Bar.
It Owns 1000 Acres Of Land
Which Produces First
Glass Stones.
Sam pies of High Grade Montana sapphires
to he Displayed In All Prln-
cipal Citles.

A strong company, whose principal busi-
mesa will be the mining and aale OF Mon.
tana sapphires and rubies, has been
launched, articles of incorporation having
been filed yesterday. The incorporators
comprise some of the best known men in
Helena. and are A. J. Ssligman. of Bach,
Cory IL Co., who is the president OF the
company; A. III. Thornbursh, of Wallace Il
Thornburgh, who 10 the treasurer; ID. A..
Cory. of Bach, Cory Il Co., who ia the vice
president; J.. +. c. Lotz, chief accountant
in Wallac, Il ThornburGh's office, who is
the secretary, and +. III. Gage, member OF
the Chicago stock exchange, who is the
financial agent of the company. The title
OF the company ia the Montana Gold and
Gem Mining company. and the capital is
$1,oOO,OO in $5 shares. The principal
office will be in Helena. The gem property
owned by the new company comprises
about 1900 acres of land. Pat of it is sit
uated on Emerald Bar, about fifteen miles
from Helena. This has been developed to
large extent, and some of the finest
sapphires sent out Of Montana have come
out of that portion of the property. The
other holdings of the company start
at the mouth OF the Pgickly Pear
and cover two miles of the creek on both
SIDES. The company controls ample water
rights, part coming from the Prickly Pear
1t has three miles of water front on the
east side of the Missouri. and at Emerald
bar has seventy five inches of water. 1t is
the pa pose to mine for gold as we'll IS for
gems. The American National bank has
been named as the trustee for the stock
holders, and all stock transfers will be
made through that institution.
The Montana Gold and Gem Mining
company bids fair to do in the United
States what the Sapphire and Ruby COM
pany of Montana is doing in England
place Montana sapphires and rnbbies with
in reach of the people. The majoCity of
the incorporators OF the new company are
Helena men, and they realized that while
the English company has big field in
which to work, they have one equally as
large. Thoroughly satisfied by actual de-
work of the quality and quantity
of the gems in the ground they own. they
propose to push the enterprise with all the
means at their disposal. They will to a
great extent contine their business to the
United States, and they know by personal
experience that not one jewelev out of every
ally what fiist-class Montana sapphire is.
OF the thousands of eastern visitors Helena
had the past season NOS a score of them had
ever seen a Montana sapphire, and sever al
dollars' worth were sold by the
local jewelers. to tourists. The new COM
pany has had about 200 fine stones taken
from its ground cut, and these will be dis
played in a handsome case in all the lend
ing eastern cities. Judging from the let
ters received by local dealers from the east
for Montana sapphi es the oihcera of the
Montana Gem company feel assured that
there will be a big demand for the stones in
the east just as soon as the people find out
what perfect gems Montana can produce.
The new company is a straight business
enterprise, all of the trustees being stock |
holders by purchase. Among the property |
acquired is that formerly owned by the |
several water rights, and some
patented gem ground. One hundred thou
sand shares of the stock is to be placed on
the market at $3.50 share. the proceeds to
be used for development, and the rest will
remain in the treasury. The most of the
stock to be sold will be disposed of in the
east. arrangements having been made to
that effect, though considerable will be
taken by Helena men. small force is
now and has been for some time at work on
Emerald bar. and this will be increased
Just as rapidly as circumstances warrant.
Next to the FuRlish company, the Montana
iem company will be the most extensive
operator In sapphire mining in the state,
and with the plans 1natured carried out,
within year or two the enterprise will be a
dig one. To L. +. c. Lotz u great share of
the credit for the organization of the com
oany ls due, as ne first conceived the idea
,f consolidating all the properties now
owned by the company, and forming
company strong enough to handle them ad-