New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-05
THE ANACONDA MINES.
A VAST PROPERTY CHANGES HANDS.
rom The san Francisco Argonaut.

From The San Francisco Argonaut.
The many rumors concerning the sale Of the Ana
c0nla Mines have last crysaliized. II Is now
known that the Rothschild Exploration Company, OF
Germany has purchased all the interest Of the late
Mining Company. The remaining interest OF the
The sale svndicats bought one-fourth OF the stock
about year ago for $4,000 This would seem 70
Smelling PROPERTIES at about 100000
It is curious to reflect that the discovery OF this
seventies two brothers named Hickey began to sink
a shaft the Old mining camp OF Butte. on Silver
Bow Greek Edward Hickey had served in the
army. He remembered a sentence he had read in
one OF Horace GTeeley's e'toriaIs about "McClel-
anacon,la' = r. gave this name to the mining
sng vein Of silver ore but as they had no money TO
develop It they sold K TO young irish miner named
Marcus DAILY. DAILY mad been sent to Butte by j. b.
Haggin and Lloyd Tevis pick up good mining
properties ard ne bought the Anaconda FOR SIS 600
the Anaconda shaft went down the silver vein
turned into rich copper vein heavily sulphurated.
pay the expenses Of mining and smelling, so that
the copper was clear profit
f g 5I He dsyeope the original Vein ana he
wood 10 reduce and smelt the beng scarce near
the he founded the town of Anaconda in a
5a1s IN H., ' World H. was diss,;taei VIM fh
transferring ORES 50 he built parallel road. The
e AS Output GW o. the word Ias year It's It's asses
were Inquired at S37Os7,G2 This years profits were
81 ss2 90 II has 100000 tons OF ore in sight and
1t was Marcus Daily. the present manager who
convinced the late George Hearst OF the value OF
tho mine Hearst Was then acting as an expert foT
Hagg.n and Tevss. and he persuaded his principals
10 60 in II Is said they hesitated for a long time
but finally concluded. as Hearst already owed them
saloOo - back him w.. as Otherwise he could not
pay them His confidence In the mine was greater.
however. than theirs a. was shown by his percent
age OF ne stock. The holdings divided
follows: Sera tor Hearst. 30 per cent; James B. Has
an. % per Marcus Day 3 per cent. and Lloyd
James Hagen acquired controlling interest in
the naragement. Whether this by actual pur-
chase or whether Mrs. Hearst simply put enough
stock in his name TO give him the control g not
believed to own 80 per cent of this vast prop
erfv Nv this late transaction she has ceased 70
be a stockholder The Rcthschld Exploration Com
pany is now possession OF a majority 81 this
sock but they have-under the advice OF Hamilton
SIN IN, who engineered the dcal-re,ained Marcus
Marcus Daly has hitherto expended all the earn
ings 81 the Anaconda Mining Company In BETTER
melts In addition 10 the refining and smelling
works the company practically owns the city Of
Anaconda 1t Is one Of the handscmest cities
greet railways. Is kghei by electricity, and i,s
s-,r,ous streets are lined with handsome buildings
Dalv not only crested refineries and smelling
plants built railroads and founded newspapers but
he built cities Anaconda was Few years ago
only a sheep ranch
This brief history Of the Anaconda mines Is one
Of the ronances OF mining. When 1, IL considered
that all this wealth has come out OF the ground
thai for this property. which has just been sold
Valuation OF over go 000cD. the sum o. $3J COO was
accepted only twenty years ago: that the mine Is
l,okssI upon being only In It's infancy. and that
a. shrevr firm az the Rcthschilds have paid for X
sum equal 10 the entire income OF many an inde-
r.-,.ent state II Will give an idea O. what
fortunes may be acquired In mining.