The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-05-02
AT THE EVA MAY MINE
The Property Is Being Worked Again
With a Good Force.
BASIN WILL COME OUT .. K.
Prospectors and Miners Have
Great aith i'm the District Min
ing Reports From other Sec
tions of the Country.
AslN WILL COME OUT o. K.

While the Cataract mining district
suffered many discouraging reverses
the miners and prospectors still have
mistaken faith in its mineral resources
ana tnat time Will prove its greatness
This faith is shown by the develop
ment work and prospecting going on
in every part Of the district.
The Eva May MILL which had been
shut down for six weeks on account Of
bad roads, was started up again last
Tuesday to its full capacity and about
20 men put to work in the mine. The
snow has been broken on the wagon
road so that the concentrates can
again be hauled to the railroad 1t is
reported that the management of the
Eva May properties has practically
passed to Capt John Sheehan as gen.
eral manager.
The schemes for reviving the Katie
at Basin are still under consideration
by the eastern parties interested in the
company, but it is given out on good
authority that work or rebuilding the
mill will commence inside of a month
or two. There are a half million feet
of lumber on the ground. The eastern
parties are trying to raise the money,
but owing to the tightness of the mar
ket in the East they have so far been
able to raise only sufficient to pay the
81, 500 purchase money due monthly to
y
the development work in Park canyon
The free milling gold mills on the
porphyry dyke, including the Merrill,
Pauper's Dream and Columbia compa-
MES, have been shut down. 1t is re-
ported, however, that the Merrill COM
pany will this spring put in a plant
capable of working 400 tons of ore per
day. The Pauper's Dream company
also expects to put in a 400 or 500 ton
mill
Hon. Harry Winters is making prep
arations to commence work on his
placer diggings this spring. The plac-
ers are the most extensive in Jefferson
county.
The High Ore company in High Ore
gulch is still working on it's tunnel,
which is in about 500 feet, and the face
of it is in stringers of good ore.
Pat Dougherty is working on a tun-
mel on the War Eagle, one of the most
promising properties near Basin. The
mine is east of the Katie and is sup
posed to be on the same vein. Mr..
Dougherty is running on the lead and
is finding some good punches of ore.
He expects to reach the ore body soon.
Many prospectors and miners are
working up on the Little Boulder.
Quite a sum of money has been raised
to build a road up into that part of the
district and Butte will not be asked to
pay for it either. The county commits
sioners of Jefferson county have ex-
pressed willingness to help build the
road.
In an extended write-up of the
Trail creek mines a Seattle paper gives
the following history Of the famous
War Eagle, the mine that is almost
exclusively owned by Butte men. THE
history of the War Eagle illustrates
the uncertainties of mining, where
miners of even the widest experience
encounter new ores and unfamiliar con-
| ditions 1t was bonded in the spring
of 1898, together with the Iron Mask
and Virginia, by Austin Corbin, w. ].
| G. Wakefield, Z. ]. Roberts, George NJ
Forster and other Spokane men, and
| A. Pugh, a representa- of the Pyrite
Smelling company of San Francisco.
! They started two tunnels and a shaft
on the War Eagle and worked till
| July or August, when payment became
| due and on account of the wide dis
crepancies between assays they threw
| up the bond. The owners, Joseph Nor
| rds and JOHN Bourgeois, were then out
| on a prospecting tour, but on Morris
return Mr.. Wakefield secured another
| bond for the same parties, providing
that the company was to employ Nor
ris at Sc a day as superintendent After
a time they struck the No. l ore chute,
| about 40 feet long and averaging four
to five feet in width, with an assay
value of SIS to s24 in gold. About this
time Mr. Pugh, who was carrying a
| one-fourth interest, failed to pay his
assessments, and thus the whole ex-
pense of development was thrown on
| four people, one of whom, Mr.. Wake
| field, secured an option on Mr.. Pughs
share. The company was unable to
pay its debts and make payments on
| the bond, so an effort was made to in
terest others. Finally Patrick Clark
| of Butte agreed to go in and pay the
debts, provided that he and mis- friends
could secure a controlling interest. The
| company was still considering this
| proposition when it was notified of the
| forfeiture of the bond. Mr.. Wakefield
then secured personal option for 80
days, and during that period the COM
| pany came to terms with Mr.. Clark
and John A. Finch of Wallace, Idaho
they to assume all debts and agreeing
| TO pay back to the small local owners
| all the money they had put in. This
| left Messrs. Clarke, Wakefield, Corbin
| and Roberts the only Spokane men in
terested. Development work was then
| continued until in December. 1894. the
| company struck its bonanza ore chute
| IS TO 100 feet long, to II feet wide,
| all solid ore, averaging nearly $50 a
| ton from smelter returns. No ore was
| shipped except that taken out in run
| ming tunnels. and making an upraise
| for no stopping had been done. but in
| the year 1895 the company paid three
| dividends, aggregating 26ls cents a
share, amounting TO 1892. 800 out of a
total production prior to Jan. /. 1896, of
5000. 900. The company has paid out OF
/ it's earnings the first cost of the mine.
! cost of development work and compress
1 sion plant, as we'll as dividends, and
| has never made an assessment. II is
| capitalized at $500. 900 in 81 shares.
/ which are now selling at $l65 and
| s1.7O. Some idea of the rapid rise in
| the value Of this stock may be formed
! from the fact that when Mr. Clark
! first bonded the property he had work
/ 10 sell stock at 6i2 cents. Nobody in
| Butte wanted IL. for capitalists in that
| city were generally afraid 70 touch