The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-10-10

Damm's rapid rise to the distinction Of
the Croesus of Durango II the story OF
the promontorio mine. That In q proper
ty of which the mining market never
heard. IL is known to Durango people
because they see the OK carts and mule
of ore monthly. The mine Is 100 miles
north of the city, and the ore must be
hauled that distance in carts and wagons
The ore is quartz, and all that Is thus
transported IL of a grade which yields
$50 ounces to the ton. The monthly ship
ment from the Promontorio Is 10000
ounces of silver. In year this amounts
to 1,OOO,OO0 ounces. 1t is worth IN
Mexican money 81, DOC, 900. and In Amer
lean money $650,OOO. But this shipment
of ore at the rate of COO tons Is not all
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 in Mexican
money and half of that in American mon
ey Is not very formidable In appearance.
II is only 1G inches long by inches In
breadth and thickness. Every day one
of these bars Is turned out Mt the mine,
brought down to Durango and added to
the stack of treasure I'm Maximiliano
Damm's warehouse. The mint officials OF
the United States will have an opportuni.
ty to handle n collection of these bars If
free coinage becomes the law.
The present product of the Promontorio
Is 100000 ounces year. worth III, 49,
400 in Mexican money, and to be worth
that in American money If III to 1 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 Prom0ntorio 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 100000 ounces of silver
yearly. A assure vein which gives him
this ore carrying $50 ounces of silver
to the ION is from IS inches to 8 feet
wide. While developing his property,
Mr.. Damn has taken out a third-class
of ore which has not been shipped to the
smelter or treated at the mine. He now
has a dump containing $4,000 tons of
such ore which, he says, will average 60
ounces to the ton. That means 5000
OO0 ounces more. to be worth $3.50
600 when the United States declares
for unlimited silver.
of the silver the minis of the United
States will be able to coin into
dollars during FIVE weeks of opera
ton at their present full capacity.
Open MINIS Cheaper silver.
"Why is 1t that in a silver country,
with unlimited coinage. bullion does not
go to the Mexican minis to be coined
into dollars, but is shipped out to be
sold in another country where it has n
fiuctuating value and where so much of
it as would make a dollar i'm your minis
is worth now only half dollar?'
This was submitted. during the rest in
the saddle of Las Mitras. to the owner
of the mines below, from which the Mex
leans were trotting forth in never-ending
file with their sacks of ore. The mine
owner chucked a pebble over the preci-
pice, and shook his head, as IL the Ques-
ton was too much for him.
well, why do you send your own
bullion to the United States to be sold
at bullion value under the gold standard
instead of having il minted into dollars
which are worth 100 cents on the silver
basis!
The mine owner got out his pencil and
figured. He took the exchange, the cost
of transportation. the 311 grains of fire
silver in the Mexican dollar. the 371
grains in the American dollar, the ounce
value, and made elaborate calculat ions.
At length his face frightened.
silver, he said, yields today cents
an ounce more when sold in the states
as bullion. after paying freight charges
and brokerage commissions, than it
would If taken to the Mexican minis and
coined into dollars"