The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-02-09
A Property at Osburn. Idaho, in
Which Helena People Are
Interested.
The Story of Col. Munoy and
Some Capitalists of
st. Paul.
Grsat lt"sh to tho SLOGAN COuntry-Ths
Celebrated Tyler-Last Chance
Suit.
Special to The Independent.

superintendent Of the great Bunker Hill
works at Wardner. For some reason wori
WAS discontinued. About a year age
Messrs. j. II. DA<ey d. Son secured control
OF the property and for q time shipped
eighty tons OF ore per day to the smeltsrs al
Helena. A substantial tramway was built.
also a hoist and a concentration. but the
Davsys got-beyond their depth finano ially
and became insolvent. A short time age
A. j. Knott, of Portland. Ore, one OF the
original owners, and A. M. Eslsr organized
a company and resumed work. Seventy
hve men are now employed and sixty tons
OF ore are taken out daily and shi! ped ia
the Union OoE contractor at Wallace for con-
Ssntration.
Under ths Davevs' management tho Ar
uontine ore was smelted at Helena for a
merely nominal figure, so desirable was the
ore for t1uxinR. 1t carries spathic iron in
considerable quantities and some copper
and silver, but the chief product is lead.
There is a good body of ore. and the mine
will now undoubtedly be worked continu-
ously at a good profit.
The severe weather Of the past week has
been very annoying to Cuur 'dAlene mines,
a. the fumes carving water to tho mills
have either been frozen solid or clogged
with floating ice. Many mills have been
forced to shut down temporarily. The
water works systems of all the mining
towns have suffered severely. but enough
snow now covers the ground TO act ~ a sort
OF blanket. as 1t were, and thus prevent
any deeper penetration of the frost.
Tit much advertised Col. I. N. Muncy,
the originator Of the famous phrase, Keep
your eye on Pasco" (Which has gained q
national reputation and %circulation), and
more recently the central figure In certain
gigantic mining deals at Osburn. appears
to have fallen off his perch. Muncy is an
old time newspaper man. thoroughly ap-
preciatos the value of newspaper advertis-
ing, and has recently put in general ~clrcula-
tion In the northwest press q Monte Cristo
story of his fabulous winnings BY his o.
burn schemes. The truth IL just beginning
TO come to the surface, and it seems that
the colonel has stretched the facts a little.
The story, alluded to alleges that he
(Muncy) had made S5OO.0OO within a year
by reason of his skilful manipulation Of the
CRur d'Alena Nellie and Mineral Point
mining deals, whereby he interested a score
or moro OF prominent st. Paul capitalists.
The mines are all right, SO far as that COOS.
and good quantities OF high grade copper
silver ore have been taken out during the
past year, but Muncy, as net al manager,
issued large quantities of stock before the
mine had been paid for, disposing of tho
the said stock for cash and st. Paul real
estate. 1t is claimed that this action laws
Munoy and his associates open to prosecu-
tion. and already the matter has been given
an unpleasant notorlety.
Muncy's Monte Cristo newspaper yarn
before alluded to affirmed that 10 had but
800 as his total capital when he began
working up his Osburn schemes. and the
general tone OF the story intimatsd that the
st. Paul people we're oulls whom he had en-
trapped by his superior craft and sagacity.
Naturally. this was very offensive both to
the st. Paul capitalists and the original
owners of the Mineral Point and Nellie.
The Osburn Statesman openly denou noes
Muncy's schemes as rank swindles, and in
Vulnerable petty suits have been b ought
against the company BY the unpaid miners
and the holders of the (alleqeu) worthl. ss
stock.
The history OF the deal in brief is as fol-
lows: The Nellie was bonded for $65, 600,
the Mine al Point for $4,000, 10 per cent.
StilIwats Mimi, was elected president of
the Mineral Point company. and W. W.
Braden, land com missioner of the Great
Northern railroad. became resident OF the
Nellie. Immediately Col. Muncy,. as gem
ersl manage for both companies, issued
|dIkS 4uhALltlSS VI rNOCA upon bn0 hlD6H.
and 1t is now claimed this was grossly
illegal, the newly organized com paniss not
being owners of the mines. Tut merely
holding options to purchase them at a set
price.
At any ratio the affairs of the two COM
panies a, g now in a bad tEngle. The min
ers forty or fifty in number) who worked
all last summer, arc still waiting for their
pay, and President Mcclure, a man of nn-
lmpeaohable integrity, it is said, has re-
signed il disgust. Meanwhile the MINERS
are bringing suit for their wages, holders of
stock are clamorina for the redemption of
their (alleged) worthless pape and in this
way two really Uood but slightly developed
mines are suffering in reputation in mining
circles. What the outcome will he none
can say, though the st. Paul syndicate can
surely be forced (if tLey do not do so vol
unta ily) to make all losses good and meet
liabilities. as Muncy was their duly
authorized gene al manager.
The rush to the SLOGAN count y is stead
lily auRmenting in volume in spite of the
bitterly cold weather. All the ndia-
cent camps. Cmur d'Alens, Okanogan,
etc, are daily losing their population to
swell the stampede to Sloan. Kaslo, the
central point OF present mining operations,
10 said to be full to overfluwlng, and still
come.
o.. NJ. Getting. proprietor Of the SLOGAN
hotel at New Denver in tn, SLOGAN country,
thlnk6 that the rush to SLOGAN next summer
Will be sonsthlng great. He states TINT repu-
lar shipments of ore nre being made via new
New Denve every day TO the Ryan smelter
at Tacoma. A good shedding road connects
the Four Mile creek mines with New Den.
yer on SLOGAN lake. from which roint the
ore is transported by boat to tho head of
the lake and from there to Nakusp by
sleigh. From Nakusp II ID shipped through
by bout to Tacoma for reduction. The to-
tai transportation charges from the New
Denver mlnes to Tacoma ia $50. so. The
tarpent,r creek mines. twenty miles from
knslo, find an outiet for their orc via
kaslo thence to Helena and Great Falls
sme ten the Great Northern freight tariff
being but IS per ton.
The SLOGAN country has built MP its repu-
[ntiou thus far wholly upon it's lead silver
but 1t appetts that gold exists in
that region. though not In the SLOGAN coun-
Try proper. Excellent COLLABORATING quartz
bas been struck in the O. X. mine on ira,l
creek. This property il owned by Messrs.
ole, hughes and Ondin, the last u spokune
man. Inc ganGue is desc lied ns dolomite,
and through IL the gold IL thlckly inter
'persed in ieafy LAYERS and colors and par
.icles as large MS in-heads Some of tho
.. IL. specimens carry galsna with gold
shot through it.
Patsy Clark. for a long time superinten-
lent of the Poo man mine at Burke, ia get
llng heavily interested in SlocHn mines
Last fall he and his partners bonded the
Reno gfou on Car enter creek for $75. 600.
md now he and his brother james havs an
cured control of tho Wonderful and Spring
ield claims in the same locality. Fou, feet
Il ore liz uncovered in the WONDERFUL, the
,unnel being in about ssventy-6ye feet.