The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-11-08
BUTTE MEN In IDAHO
They Are Interested in Mining Pros
poets Over There.
SOME ARE MAKING MONEY
Plaoers Are Being Worked With q
Dredger and the Company
Thinks a Large Thing Is In
Store-The Big Deal.

.
Salmon River and Gibbonsville are that
many of the properties there in which
Butte men are largely interested
are showing up well. A good deal of
placer mining has been done about Ban
mack this season and more than $4,000
in gold shipped out. The Gold Dredging
company. which bought up about a mile
of Grasshopper gulch, expects to make
millions out of the new scheme next
year.
This season was largely devoted to
preparation work and experimenting
The promoters of the scheme believe that
the richest placer beds in the state are
on their claim. the actual bed never
having been extensively mined. The Gold
Dredging company was formed in the
fall of last year by Denver capital and
acquired the Bannack placer claim with
its attendant rights and other privileges
The dredge is built on a boat and works
similarly to a canal dredge. 1t was built
at a cost of $1,000 and is operated by II.
Curran, formerly manager of the West
ern Development company. 1t is of
60-horse power run entirely by electrici-
ty and will work about 1000 yards of dirt
per day. 1t is the first time the dredging
idea has ever been applied to gold min
ing.
There is a large number of leasers
working on quartz properties in the dis
trict adjacent to Bannack and taking out
some rich silver and lead ores, the for
mer being shipped TO Butte and the lead
ore to Helena.
The railroads have lately made such a
great reduction in freight rates that the
leasers find they can profitably handle
s35 ore.
In the Blue Wing district, east of Ban
mack, good many prospectors are work
ing and taking out some profitable ore.
Heretofore that district had not been
worked because ii did not pay to take
out ore that run below below $50 ounces.
The Gold Leaf mine, which has been
worked by Carney e. Hand of this city,
is now bonded to Chicago parties. A
number of leasers are also working on
the property.
L. A. Brown, who owns the New De-
parture, has shut down the mine and is
shipping the dump. 1t is estimated that
the dump is worth $4,000, but before
reduction was made in the freight rates
II did not pay to ship the stuff.
Sol Lachman and other Butte men are
prospecting in the Bloody Dick district,
up on Horse prairie, on the divide where
Chief Joseph crossed over to the Big
Hole Mr.. Lachman is tunnelling on a
fine copper prospect. About 80 or 40 men
are prospecting in that vicinity.
Butte men are scattered through many
mining districts in Idaho, including the
Salmon City, Leesburg, Wilson, Mineral
Hill, Yellow Jacket, Black Bird creek
and other districts, and are meeting with
varying degrees of success. , -ha. 81
A new and rich strike is reported from
the north fork of the Salmon river, about
eight miles from Gibbonsville in the De-
loniga district, and Harry Steen, former
ly of Butte, and E. o. Penwell and 9TH
ers have made 10 locations. They cross
cut the lead Is feet at depth of 20 feet,
and show a solid body of mineral, AS
do ,t,aar nnrNf
per, $40 in gold and so ounces In silver.
The fact that everything has to be ship
ped out of that country for treatment Is
against the district, but the people there
have great confidence in the Butte, Boise
and San Francisco railway scheme to
help them out some day.
Gibbonsville itself is very quiet at pres
ent. Several mining companies recently
suspended and failed to pay their men.
The only company now operating in Glib
louisville is the American Mining and
Development company, under the man
agement of NJ. E. Mcdonald, and work.
ing 100 men. The company is putting in
roasters and a chlorination plant, by
which 1t will be enabled to handle its
base ores. A tunnel 1000 feet has been
driven on the company's property and
two drifts run along the two veins.
There are about 600 feet of stopping
ground to the surface. The company is
putting in a free reading room for its
men and will be opened about Dec. 1.
Since the first of November the mail
for Gibbonsville goes in from Divide in
stead of by the way of Salmon City, as
heretofore. BY the change the Standard
reaches Gibbonsville a day earlier than
any other paper and is the only Montana
daily that goes into that country at all.
The New York World, in a recent is
sue. had the following in its editorial col
umns under the head of "Wanted-Com-
petition in Copper" H.,
AS a result of the recent purchase of
100000 shares in the Anaconda copper
mine by English capitalists an official
statement of the mines operations has
been made. 1t is full of interesting and
stimulating figures.
1.-THE mine is capitalized for $25, 900, 900.
1t gives its gross receipts for the year
ending last December as $1, 1856. 900, of
which s5.15s,000 was the annual profit over
and above all actual operating expenses.
Deducting all expenses other than those
of actual operation the net profit figured
is s., 9S6. 600 In the % months ending with
Dec. 81, 1898. the company sold $1s,41, 600
worth of copper and its gross income
during that period amounted to s25,101,-
coo.
THE stock transferred to England has
a face value of s7.5O0.00o. or one-fourth of
Whether the English purchasing move
ment extends further or not, the facts
developed ought TO stimulate New York
capital to revive and extend what at one
time promised to be the fiourishing
American industry of smelling South
American ores. Our trade with the cop
per-producing countries of South Amer
lea could be greatly extended by taking
their ores as return cargoes and profita-
BILE employment might be given to an in
creasing number of American workmen.
The future OF electricity I'm the United
States makes IL sure that the demand for
copper will be an increasing one. Its
price last week was higher in this cotIn-
try than I'm Europe. We ought by all
means to realize the possibilities of the
business. And having realized them we
ought to keep the profit at home"
]. p Hendricks. acting for the Mon