The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1895-08-24
THE BOOM
HAS COLLAPSED.
Slate Creek Mining Excitement
EXplOdes with Il Loud
Report.
A 'S00P' GOES UP THE BIG FLUME.
Bikes Destined to Tumble as
Sure as Democracy Will
BE Defeated.

The Slate creek mining boom that
started so auspisciously last March,
when Colonel Hart set the hearts of
mining men on fire by employing
upwards of 100 men to build snow
roads into the Slate creek country
has bursted says the Spokesman-Re
view. Word was received today
that Superintendent Mckay arrived
at the Eureka mine on hurried trip
from Anaconda yesterday and to the
surprise of everybody ordered all
work to stop, discharged all en-
ployes and today packers are at work
bringing the company's effects out of
the country. So ends mining pro-
ject that has cost Marcus DAILY a large
sum of money. Vera Crus the little
town which was built up within the
past six weeks is in sackcloth and
ashes.
Tie little burg nestles on as east
ern hillslope 1000 feet above sea le-
vel and half mile from the famous
Eureka mine and since the snow dis
appeared a few weeks ago has de
|
veloped into an interesting town
with seven substantial log houses
including several stores and saloon.
The collapse of the Slate creek ex
element is really of interest to min
ing history. 1t was at once the
most daring and expensive piece OF
nonsense that has occurred in min
ing speculation for some years.
Three years ago prospectors entered
Slate creek and began prospecting.
They searched the hills and valleys
and finally struck some fine leads on
Slate mountain. The find causes a
rush of prospectors and when snow
fell last year every bit of hilltop for
miles was staked off. There were
some very fine looking properties,
among them being the Eureka and
Mammoth. Both were free gold and
there were many rick specimens.
The Eureka had vein of about
20 feet on the surface and the Nam
moth across the gulch was even bet
ter.
Last winter Col. Hart of Anacon-
da bonded these two properties and
half hundred others. Hart bonded
on samples only. The snow was
too deep to get in to examine the
prospects and he took the word of
the owners. For some he paid 800
down for others $1,000 and for the
Mammoth and Eureka about $1,000
as first payments on bonds for five
to $4,000. Then came the deter
mnation to cross the Cascade range
in March and the building of snow
roads. The snow road was just COM
pleted when in May snow storm
set in and filled the road up before
Colonel Hart could get into the
mine. 1t was about this time ano-
ther of Mr.. Daly's agents arrived,
Mr.. Toole. Hart had spent $40, 900
on his snow road and had not even
seen the mine. He was released and
Toole took charge. Investigation
showed that money had been squan-
dered. The men in charge of the
company stores had sold goods, hun
dreds of dollars worth of provision
had been allowed to spoil and great
lot were stolen. Ordinary laborers
shoveling snow were paid $3.50 per
day and board and the company's
boarding house was free hotel.
Besides, the time for the making OF
the first time payment on the bonds
was about up and nothing was known
of the prospects.
1 Toole at once stopped all work and
Hart went to Arizona. The thous.
and men waiting at Ventura being
told that Hart had pulled out left the
country. Then Toole went round te
get All extension on the bonds
With the Eureka people he was sue
essful and the first payment time