The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-08-06
Some Cold Facts About the iTemescal
Fraud, Discovered by an
Expert.
Th0 Whole American Population
Taxed and the English Stock
holders Robbed.
Aad No New Home Industry Established
Because There 10 No Tin IL the
Hills.

evidently concluded that they have oesn
swindled and that evsn the Mckinley aot
does mot possess the power to put tin in the
mine 1t Cajalco Hill in paving quantities.
and they nave been making more inquiries
about the mins.
They have NO interest In Mckinley poll
tics except such as comes from tho expecta-
tion Of an increased price OF tin when the
duty goes into effect In 1897, but II ths
mine doea not pay they will not have any
tin, and ii they have no tin to sell they
have no interest in Mckinley.
When the mine wassold by Col. E. N. Rob
inson funds we're raised by the sale of three
kinds of securities.
First were debenture bonds, having as Sc
curity the mine at Caialco Hill and about
II, 200 acres OF land in San Bernardino coun-
" of a rather poor quality. Second was an
issue OF preferred stock guaranteed to pay
8 per cent. interest, aud third an issue OF
common stock on which the holders expect
ed to get 16 per cent, and were led to that
expectation by Colonel Robinson's promise
of 81, 25G, 900 per year from the ore In sight.
When the works that Robinson had asked
for as necessary to reduce enough ore to
make that profit had been running for some
months. and the stockholders were being
called upon for heavy assessments, they be-
came dissatisfied and sent out Captain Har-
ris to run the mine. The captain being =
practical tin dresser noted many defects in
the machinery, which was not the kind used
in Cornwall. So he ordered some new ma
ohine,y from the old country. That was put
in place. and still the mine did not produce
enough tin to pay the miners wages. The
stock fell down to II very low figure. and
some gentlemen who had invested proposed
to make q speculation and by buying u lot
of stock at a low rate reduce the average
however. they thought It would be a good
plan 20 see if there really was a mine there,
and they sent an expert to look into il.
Fortunately they did not send out a college
professor, but q sensible Californian who
knew the difference between profit and loss.
and mill men working half time. Naturally
he asked why this was SO. Capt, Harris
reply was:
workings to run the mill thirty days and I
do not a to use up all the ore till they
have found some moro in the prospect
drifts we are running"
Then Won really have no moro ore in
sight"
mot in sight, but We are drifting to in
~tersect the vein under those ~croppings." re-
piled CAPTAIN Harris.
The visitor expressed great surprise that
SO much money should have been spent be-
fore the mine had been prospeoted and
turned his attention to the production. He
found, as the Examiner stated, that the
production of pig tin had never been great
enough to pay the miners wages and put
the question bluntly to Harris-1f more Of
the same kind of ore was found would the
mine pay?.
He was told that it would not unless the
ore was much richer. as the cost of mining
was 80 much greater than it was in Corn.
wall. He talked to the men in the mine
and examined it for himself, and as a re-
suit his principals did not make any
fresh investment. He severely censured
the vast expenditures made and had
mine and the Robinson management gross
swindle. There may be tin there and it may
pay to work, but as the Examiner stated it
is a deplorable fact that the little tin pro-
duced did not ray to work and the ledge in
sight has been worked out. The worst fea-
ture of the mine is that the country is too
much broken up to make the finding OF q
large vein of tin-bearinR rock probable.
Even if more lodges are found under the
groupings. and 80 far the prospect drifts
have not disclosed any. the prospect ia very
gloomy. This is the situation and no
amount of talk can change it.
In thirteen months the Temescal mine
has produced less than $50 tons of ingot tin,
worth less than $4,000. Its actual value
was $67,Sl3 if it all brought - cents per
pound.
The average per month, including what
had been mined by Williams in 1868, was
ten and one.half tons. worth less than
S.. $50.
The payroll was $4,000 per month, and
besides there was interest to pay on g., Co.,
600 invested.
The 9 is not enough water to run the mill
and a supply will cost q large sum Of
money. All the meney spent on the dam
was thrown away. The Cornish pump i'm
ported from England at a heavy cost was
not needed and has never been put up. The
main shaft is seventy feet below pay ore,
There has never been enough tin to keep
the furnaces going and the new furnace be-
ing erected 10 not needed. The mine will
have to shut down very soon unless Z lucky
strike is made, of which there is no indiea-
ton.
FfvINt with Train Rnhl,.,s