The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-10-10

Damm's rapid rise to the distinction of
the Croesus of Durango is the story 81
the PromontoriO mine. That j. proper
~ of which the mining market never
heard. Ii il known 10 Durango people
because they see the OK carts and mutt
wagons come creakiug In with thhl tons
OF ore monthly. The mine il 100 miles
north of the city. and the ore must bc
hauled that distance In carts and wagons.
The ore is quartz, and all that is thus
transported Is of Il grade which yields
lJo ounces to the ton. The monthly ship
mcnt from the Promontorio is 10000
ounces of silver. Ia a year this amounts
to 1,OOO,000 ounces. Ii is worth in
Mexican money 81 800, 900, and in Amer
lean money S6J0,OOO. But this shipment
of ore at the rate of 600 tons is not MI
of Mr.. Damm's product From his own
works at the mine he makes every day
a bar Of silver weighing 1000 ounces. a
bar of silver worth $3.50 ia Mexican
money and half of that IN American mon
| ey is not very formidable in appearance.
| Ii is only 16 inches long by 4 inches in
breadth and thickness. Every day one
| OF these bars is turned out at the mine,
brought down TO Durango and added to
! The stack of treasure in MaXimilanO
Damm's warehouse. The mint officials Of
the United States will have an opportuni.
~ to handle a collection of these bars II
| III coiltsc becomes tnc law.
The present product of the Promontorio
Is 100000 ounces Il year. worth Sl,149.-
aoO IN Mexican money, and TO be worth
that In American money if IL to l pre-
walls. This Is one mans mine. That Is,
. perhaps, the reason so little has been
heard of il.
About ten years ago. when silver be-
gan to go down. the Promontorio began
To uncover its richness. With his rep
utation established as the richest man
IN Durango, Mr.. Damn does not admit
, That he has done any mining. He has
simply been developing what there is in
the Promontorio, blocking out the masses
OF ore to be removed when he gets down
TO the real business Of mining. But
: while doing development work Mr.. Damn
Is taking out incidentally ore which
: yields him l,360,O00 ounces of silver
: yearly. "A fssurc vein which gives him
! this ore carrying $50 ounces of silver
v to the ton is from * inches To . feet
n wide. While developing his property,
Mr.. Damn has taken out a third-class
II OF ore which has not been shipped To thu
y smclter or treated AT the mine. IiesnOw
g has dump containing $4,000 tons OF
! such ore which, he says, will average ~
l. ounces To the ton. That means 3,UOo
7 600 ounces more. To be worth $3.50
a. 600 when the United States declares
l. for unlimited silver.
lc Maximliano Damn can furnish al
II of the silver the minis of the Untct
lr States will be able to coin int
y dollars during five weeks of opera
- ton ut their present full capacity.
No. Open Mnts Cheaper silver.
ut "Why is il that in silver country
Ii with unlimited coinage. bullion does no
tn 90 20 the Mexican minis Ia bc coinc
TN into dollars. but is shipped out TO b
So sold in another country where i, has
Is iluctuating value and where so much O
cy it as would make dollar in your mint
ne is worth now only half II dollar
We This was submitted. during the rest i
to the saddle of Las Mitras. To the ownc
ch of the mines below from which the MeA
ON leans were trOtting forth in neyer-endin
M file with their sacks of ore. The min
IN owner chucked pebble over the prec
or picc. and shook his head, as If the quc'
". ton was too much for him.
IN well. why do you send your ow
yn bullion to the United States 10 bc sol
ms at bullion value under the gold standar
instead of having it mintcd into dollar
which are worth 100 cents on the silv,
basisI'
v" The mine owner got out his pencil al
r. figured. He took the exchange, the co
eh of transportation. the 81 grains of fiji
on silver in the Mexican dollar, the 81
llS grains in the American dollar, the Oun'
Pr value. and made elaborate calculation
M AT length his face frightened.
,iii "Silver. he said. yields today ! cen
10, an ounce more when sold in the stat
ou as bullion, after paying freight charg
'u' and brokerage commissions. than
DS would if taken to the Mexican mints ri
,us coined into dollars"