Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1896-10-10

Damm's rapid rise to the distinction Of
the Croesus of Durango Is the story OF
the Promontorio mine. That is d proper
ty of which the mining market never
heard. 1t Ia known to Durango people
because they see the OK carts and mule
wagons come creaking in with q tons
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, aud all that il thus
transported is of d grade which yields
$50 ounces 10 the ton. The monthly ship
ment from the Promontorio is 10000
ounces of silver. In n year this amounts
to 100000 ounces. 1t Ia worth In
Mexican money 81, 10000, and in Amer
lean money $650,000. But this shipment
of ore at the rnte of GOO tons is not all
Of Mr.. Damm's product. From his own
works at the mine he makes every day
IA 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.
1t is only f6 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 MaXimiliano
the United States will have al opportuni-
ty to handle q collection Of these bars if
freq coinage becomes the law.
IFle present product of the Promontorio
is 100000 ounces n year, worth 81, 49,
400 in Mexican money, and TO be worth
that III American money If 10 to ] 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 it's 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 .5e real business of mining. But
while doing development work MI. Damn
is taking out incidentally ore which
yields him 100000 ounces of silver
yearly. A assure vein which gives him
this ore carrying 80 ounces Of silver
to the ton is from Is inches to . feet
wide. While developing his property,
Mr.. Damn has taken out q third-class
of ore which has not been shipped TO the
smelter or treated at the mine. He now
has a dump containing 10000 tons of
such ore which, he says, will average 60
ounces to the ton. That means 3,000,-
600 ounces more, to be worth $500
900 when the United States declares
for unlimited silver.
Maximiliano Damn can furnish all
of the silver the minis of the United
States win be able to coin into
dollars during five weeks of opera
ton at their present full capacity.
Open Minis Cheaper silver.
"Why is il that in a silver country,
with unlimited coinage, bullion does not
20 10 the Mexican minis to be coined
into dollars, but is shipped out TO be
sold i'll another country where il has q
~tiuctuating value and where so much Of
it rs would make a dollar in -FOUR minis
is worth now only half a dollarT"
This was submitted, during the rest in
the saddle of Las Mitras, to the owner
of the mines below, from which the Mex
file with their sacks of ore. The mine
owner chucked a pebble over the preci-
pice, and shook his head, as if the ques-
ton was too much for him.
We'll, why do o 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 377 grains of fine
silver in the Mexican dollar, the 81
grains in the American dollar, the ounce
value, and made elaborate calculations.
At length his face frightened.
SILVER" he said, yields today A cents
an ounce more when sold in the states
as bullion, after paying freight charges
and brokerage commissions, than il
would il taken to the Mexican mints and
coined into dollars"