The silver blade. (Rathdrum, Idaho) 1895-1903, 1895-09-21
MINE HAS A BRIGHT OUTLOOK
Directors Say They Expect to Pay
Monthly Dividends for the
Next Year.
Spokane, WASH, Sc,

lie Roi Mining Company last night a
dividend was declared Of $685. or 5
cents per share. Judge George Tur-
ner, who has lately directed the active
management of the companys proper
". resigned from the presidency to take
the position of general manager, and
his brother, Colonel w. w. D. Turner,
Was elected president in his place. Col
enel Turner is the largest individual
st0ckh0lder in the company. The divi-
Aend will be paid through the Traders
National bank.
I'VE are not making any promises"
said Colonel Turner last night, but we
hope to declare dividend monthly
from now on. We have 10000 tons of
ere in sight, and even If all development
work were stopped now, we would have
enough ore to keep US running for
year with an average output Of 100
Aons daily"
Nearly four-fifths Of the 100000 shares
q the lie Roi are held in Spokane,
about 100000 shares being owned in
Danville, Ill. The principal owners are
George Turner, Colonel w. w. D. Tur-
Des. Colonel I. N. Peyton, w. ]. Harris.
Colonel w. M. Ridpath, D. w. Henley.
Il +. Williams and Major Armstrong.
Other stockholders here are Judge
Binkley, Judge Blake, Ed Sanders and
Frank Graves.
HISTORY OF THE MINE.
The LIE Roi mine was one of the first
50catiOns in the Trail creek camp. Joe
Norris and Joe Bourgeois discovered
HE iron OutcrOppings Of the group that
has since become famous, and took
samples Of the ore to Nelson. The re-
turns were discouragingly low, and
they were inclined to drop the discov-
cries. when they met E. S. Topping,
who was running little store there,
and who was favorably impressed with
the ore and the accounts the men gave
II the ore bodies. Bourgeois and Morris
were strapped, and offered Topping his
pick Of the locations if he would pay
tho recorders fees for the other claims.
He accepted the offer, went down to
Trail creek. and after looking over the
ground selected the LIE Roi. IT thought
then 1t was the best mine in the camp,
alnd have never changed my opinion"
~ said short time ago to reporter
q The Spokesman-Review.
A few months later Topping came
down to Spokane and was showing
come of the ore around the city. He
George Forster and others, and they
0hed the appearance of the ore, and
after having careful assays made, took
= bond for 16-30ths Of the mine, the con-
aideratiOn being named at 5000. Later
others were taken in, the bond was
bought. 9-16ths more were purchased
from Topping. and the property was
capitalized at 100000. That was five
~ nix years ago, and since then,
through good times and hard, the own
egs have kept pegging bodybuilding
roads. putting in machinery, doing de-
veSOpment work, and standing gener-
ally the brunt of opening up the now
famous Trail creek district. To date
they have taken out and expended
31so, 900. The ore extracted has just
about paid for the mine and all i'm
pr0vements, and yesterdays dividend
- what the boys call velvet" Natur-
ally there was a great deal Of good
feeling among the owners last night.
SHIPMENTS OF ORE.
Since the company recently put in it's
Zine new plant it has been shipping 5000
tons per month. It pays for freight
charges and treatment $14.5O per ton,
hut has a contract with Heinze, Breen
and others who are building the 100
ton matteing plant at Trail Landing,
under which they are to take the ore
ut the bins after October l and treat
It for 81 per ton. In view Of the near
approach OF this more advantageous
arrangement, the company will not