The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1895-08-31
Two Big Mines VIII Be Worked
Under One Management.
The PLAN OF CONSOLIDATION
1t Is Expected the New Arrangement
" i'll Save $4,000 Per
Annum.
Spokane, Wash, Aug. 81.

Spokane, Wash, Aug. 81.
The Tiger and Poorman mines, situat-
ed on Canyon creek in the Occur
d'Alenes, are to be consolidated and
worked under one management. Ne
gotiations to this end have been pend
ing for some time. but the secret was
carefully guarded.
Articles of Incorporation of the new
company were transmitted last night
to Olympia, and will be filed in this
city today. The new company will be
called the Consolidated Tiger and
Poorman Mining company, and it's OBJ
JectS, aside from the business that has
hitherto been carried on by the two
companies, is more particularly to buy,
operate and mine the Tiger and Poor
man mines, mills and all appurtenances
thereunto belonging or herewith con-
nected, situated at the town of Burke,
in the LeLande mining district, Sho-
shone county, Idaho.'
The capital stock of the new company
is $1OOO,000, divided into 100000 shares,
100000 shares going to the, stockholders
of the Poorman, 5000 to S. S. Glidden,
the present owner of the Tiger The
capitalization of the old Poorman COM
shares. Every stakeholder IN the old
company will receive share for share
OF the new stock in exchange for the
old. The Tiger was never capitalized
The affairs of the consolidated mines
Will be managed by a board of five
trustees, and the board named to man
age the concern for the first six months
are 5. S. Glidden, Spokane; f. r. Gull
bertson, the present manager of the
Tiger, Burke; and Patrick Clark, B. c.
Kingsbury and e. d. Olmstead, all of
Spokane. Spokane is named as the
principal place of business.
There are about 200 stockholders in
the Poorman mine, many of them living
In Montana. B. c. Kingsbury, who is
the largest single owner, is the presi-
dent of the company, and Patrick
Clark has been manager of the mine.
The two mines long ago became ia
nous as producers in a mineral country
that abounded in great properties.
During the nine years they have been
operated they have added in round num-
bers, 100000 900 to the wealth of the
world, large part of which has been
expended for supplies, labor, improve
ments and freight rates. They were
both discovered on the same day, in
September, 1884, lying upon opposite
sides or Canyon creek, the Tiger by
John Carton and Almedos Seymour,
and the Poorman by Scott Mcdonald.
Soon thereafter contest was filed on
the Poorman by Edward Benjamin, Alec
GAIA and man named LeLande for
whom the district was named. This
brought on long and expensive litiga-
ton between the rival claimants, which
was finally settled by Patsy Clark
stepping in and buying out both sets
of claimants to the Poorman ground.
Both properties have extensive i'm
provements, including concentrators,
hoists, air compressors, electric plants,
boarding houses. buildings, etc., cost
ing in the neighborhood OF $35, 000 Both
have valuable water rights which will
now be consolidated and merged into
one system. 1t is expected that this
will reduce the fuel bill of both mines
to practically nothing for the greater
part of the year, and that this alone
will effect a saving of $50 900 per annum
One mine will now pump out the water
for both, one hosting plant will also
serve both mines, and there will be
but one management, and it is calcu-
lated that in all a saving will be eff
fected Of not less than $4,000 per month.