The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-03-21
THE NEW EAST GRANITE.

Kaiser Bros. Will Begin Work on 1t Not
Later Than May 1.
The late reports regarding the resump-
ton OF operations on the East Granite
property are confirmed by the Kaiser Bros.
who assumed control of the entire plant
last fall for the debt they held against it.
The Philipsburg Mail was informed last
week by the above named gentlemen that
the initiative steps for the resumption of
the work have already been taken, and
they hope to have it we'll under way not
later than May l.
The plan proposed for working the prop
erty is first to perfect a incorporation. to
be known as the New East Granite COM
pany. The stock will be made assessable,
and those who hold stock in the old com
pany will be given an opportunity TO renew
their interest at the lowest possible assess
mont that can be made to pay the lndebt-
edness now against the property, and with
an assessment on the total stock enough
money will be put in the treasury to push
the development to a successful end
The main shaft on the property is al
ready down 300 feet, and the object of the
new CON pany will be to continue it to a
depth of 800 feet and then c~rosscut to the
north vein. The surface measurement
from the collar of the shaft to the north
vein is 1856 feet, but the natural dip of the
vein throws 1t much closer. and when a
QepJn OF UUO Ieot Is attained In the smart 1T
is thought a few feet of CROSS cutting will
reach the vein.
The plant is already sufficiently equipped
with machinery for continuing this work,
with the exception of a pump and boiler.
1t can therefore be seen that the expense of
continuing the work will be comparatively
light. About the first of April the now
proposition will pc thoroughly under way
and the stockholders of the old company
will be correspondent with in regard TO 1t.
1t is known to q certainty that the pro.
%jectors of this new deal have no interest il
attempting to work the property other thar
the exceptionally favorable circumstance
for making a mine out of it. 1t is also SAT-
by the owners OF the property that tn
Granite Mountain conn any have mad,
several ttempts to gain control OF tn,
ground, and to-day, or at any time. the,
would willing ray two or three times NOR
for it than the amount of the debt 70
which 1t WAS sold to the Kaisers.
There 10 no question of u bright futur
for the New East Granite If put in OF EZRA
tion rs proposed. Everyone who ~ fa
mlliar with its location believes it to be on,
OF the best mining propositions that wa
ever introduced in this district, and sine
the disbaddment Of the original compan,
the stockholders have never lost confdeuc
In their belief that u great mine woult
sone day be opened up in the East Grant
property. and many of them will rejoice l.
know that they will be given an opportunit
10 enter tne new company on sQCu reaHOna
BILE terms as proposed.
AS the name would suggest, it adjoin
the Granite mine on the east. The prop
erty controlled by the new company will b
the same as owned by tho original com
pany. 1t embraces five claims-the Ne,
Departure, Montreal, WEIGH, Black Roc
and Boston iodes. II has never appeare
necessary for the East Granite company
seek popularity on account of their clos
relation to the Granite mine. and i. chs
great property were not in existence tn
proposed new company would 90 ahea
just the same with the flatterinR prospect
that ara already in sight. or that may l.
seen soon as the water is pumped from til
shaft.
While the proposed company ars not de
sirous of gaining reputation on the merit
of the Granite mine, their position in n
gard to the latter IS as follows: The Ne
Departure shaft. sunk on the vein of Il
snme name. is $500 east and 1000 fe
south from the Granite shaft, the CO
lar of the New Departure shaft beir
200 feet higher than that of Il