Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1896-10-10
siderable development work this fall
LEGAL TENDER MINE.

Frank Hall began work on the Legal
Tender, one Of the Harney Peak COM
pany's properties, last week, under the
direction of Mr.. Osborn who is exploit
ing some of that company's properties
for gold The Legal Tender has long
been believed to be q paying gold propo-
sition, and if the tests to be applied
yield favorable results, a contract will
be let for further development of the
mine. Mr.. Osborn is understood to be
operating under the orders of the Eng
llsh stockholders of the company, his
operations having no connection with
the receivership. These English stock
holders number among them some of
the largest capitalists Of England and
should they take hold of the gold prob
lem in this district 1t will be on large
scale.-Miner.
THE ST. ELMO NJ. & II. co.
The stockholders in the above COM
pany are agreeably surprised at the re
suit of development work. During the
past few weeks the vein has rapidly in
creased in size, and is now fully seven
feet in width at q depth of 40 feet.
When first encountered there was but
IS inches of it. The last cleanup shows
a recovery Of Sl6.25 gold per ton by
amagamation. The tailings contain
valuable concentrates. which for the
present are being banked up for future
treatment. The two stamp Tremain
steam stamp mill is doing good work
running night and day, treating from
eight to ten tons every "a hours With
this mill the mine will be fully devel-
oped. The values recovered from the
ore will more than pay sll expenses
| Times.
WILL BUY THE ANACONDA.
New York, Sept. 30.-The Evening
World reports that private cable dis
patches received here say that Hamil-
| ton Smith, agent of the Exploration
company of London, which has within
| the last eighteen months paid $4,000 600
| for 100000 shares in the Anaconda
Mining Copper company, whose proper
| ties are in Montana, is on his way to
| this country again. MIR. Smiths mis-
| sion is said to be to close a deal where
| by the Exploration company (really the
| Rothchilds) is to acquire the remaining
stock, 100000 shares, of the Anaconda
company, upon which there was given
an option for the sum Of SlS,000,000.
| Marcus DAILY, the managing director OF
the Anaconda company, is expected to
reach New York tomorrow. and j. Ii.
| Kibben, one Of the largest holders of
the stock, is also expected here soon
from Hot Springs The English capital
| lists whom Mr.. Smith represents are
said to hold an option upon the Home
stake mines and properties in the Black
Hills.
The sale Of the Anaconda stock is
entirely probable, but in all probability
there is not word Of truth in regard tC
the option on the Homestake and
affiliated companies. Hamilton Smitt
has not been here and his favorabl,
report is essential to deal with thest
parties. Besides this the Belt mines ar
more successful than ever before Tn
extensive improvements on the Sta
mill, the addition of 100 stamps to tn
old Homestake mill, the new 3,000-foo
shaft and the new $40 foot steele bridg
from the new shaft to the new mills a
indicate that they have a sure thing 70
at least twenty years to come with al
expectation of three score years c
dividend prosperity. 1t is not likel
the Homestake is for sale.-Pioneer.