The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-01-11
AN IMPORTANT DEAL
The Incorporation Of the Missoula
God Mining Company. ~
ACTIVITY AT SAN MARTINA
II. L. Frank of Butte Interests Him.
self In the Properties. and With
Others. VIII Push Work
Ahead With a System. "a

Missoula, Jan. 10.-what is by far
the most important mining deal that
has been contaminated in Missoula in
many years was closed to-day and
will result in the immediate resumption
of operations at the San Martina mines
on Nine Mile creek. Articles of in
corporation were signed this afternoon
of the Missoula Gold Mining company
with a capital stock of 100000 and a
stated term of existence of 40 years.
The incorporators are: Thomas c. Mar
shall, Hal S. Corbett, H. L. Frank.
Louis Frank and Samuel /. Silverman.
This announcement will be good news
to Missoula as the operation of the San
Martina mines signifies much in a
business way to the mercantile inter-
ests of the city.
The history of the San Martina prop
critics is more or less familiar to the
readers of the Standard in Western
Montana. The San Martina Mining
company was organized some years ago
by local business men, who spent a
considerable amount of money in the
development of the mines and the err
rection of a mill The mill was COM
pleted at a cost of $1,000 and, just as
the success of the mines seemed as
sured, came the financial crash. The
stockholders were all business men and
all of the money that they could COM.
mand was required by them in their
personal affairs. The money for the
continuance of the exploration and de-
velopment work was not to be obtain
ed and the finances of the company be-.
came seriously involved. Judgements
were obtained against the company,
aggregating $4,000 and the property
passed into the hands of the judgment
creditors. 1t was an experience shared
by hundreds of other similar companies
in the Northwest and was not consid-
cred to indicat any unsatisfactory
condition of the mines of the company.
Those who are familiar with the prop
critics have never lost faith in them
and for some time negotiations have
been pending looking TO the purchase
of the mines.
Finally H. L. Frank of Butte, be-
came interested in the properties and
a statement of the condition of affairs
was made to him. He carefully invcs-
tigated the situation and last week
sent for Patsey Clark, whose reputa-
ton as a mining expert is well known.
This week Mr.. Clark made a thorough
examination of the mines of the COM
pany at Martina and last night made
his report. This report is more en-
couraging than the interested parties
had expected and upon the strength of
1t, it has been decided to go ahead
with the further development of the
mines at once. Mr.. Clark's opinion
of the properties is most encouraging
and there is no doubt that the San
Martina will become among the most
valuable properties in Montana.
In accordance with the decision
reached EAST evening, after Mr.. Clark's
report had been made, the articles of
incorporation of the Missoula Gold
a nd
signed to-day, as already stated. The
officers of the company are: Hal 5.
Corbett, president; T. c. Marshall vice
PRESIDENT II. L. Frank of Butte, treas
urer; w. @. Ranft. secretary. 7. c.
Marshall. Hal s. Corbett and III. L.
Frank, Samuel /. Silverman and Louis
Frank are named as the first board of
directors. The capital stock of the
company is divided into 100000 shares
of par value of 81 each, and the full
amount has been subscribed. OF this
amount 100000 shares will be put into
the treasury.
1t is the intention of the new COM
pany to begin work at the mines
at once, and, as soon as the workings
are put into proper condition, the pres
ent shaft will be sunk so feet deeper,
and the ore body thoroughly explored.
The property of the new company
consists of nine claims In the Nine
Mile district, am unsurpassed water
right and mill site. a five-stamp mill,
which has been built so that 1t can be
made a 10-stamp at a very small cost,
and the buildings and machinery about
the mines In this district are the cell
ebraIted Nine Mile properties, which
have produced a quarter of a million
dollars in gold. and placer fields which
have yielded hundreds of thousands of
dollars. The water right and mill site
are not surpassed in the state. and
every condition seems favorable to the
success of the new company's opera-
lions. tpN'
One of the officers of the company,
said to a Standard reporter this after
noon: I'VE have taken hold of this
proposition with enough money back of
US to make it go, and we will carry on
the work as rapidly as possible and
will try to have the mines developed
into producers at an early date. We are
much pleased with the report made by
Mr.. Clark, which we consider of great
Valna