The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1896-11-27

low tllOGsubi tiOlIllSs ,iloitly "a
terwards increasing the capital to the
desired amount.
Leading mine owners and managers
of Colorado propose organizing state
Mining ASSOCIATION. The Colorado
plan embraces the idea of having none
eligible for active membership bnt
those actually engaged in mining,
which is not without its advantages.
The headquarters of the association is
to be in Denver.
The mines department of the New
South Wales government offers re-
ward of 800 for the discovery of ii new
gold field. provided that within six
months not less than 800 miners shall
be prodtably employed in it. In case
there are 800 miners at work within
twelve months, an additional 800 re-
ward will be paid
There have of late been more than
the usual demands for placer miners
for South America. Robert Williams,
a brother of Gardiner Williams, who
has charge of the Kimberly diamond
mines, left some weeks ago. R. O.
Laws has gone from Trinity county.
aud now Henry Meegan, who has been
mining on Snake river in Idaho, has
gone to Venezuela. M. and S. Press
The report of the Alaska Treadwell
company for the month ending Sep
tember Is, 1896, shows total yield of
500, 391.27 expenditures, $27, 1871 40 !;
profit $32, 1868. so. From the mill in
free gold $40, 1o7 was obtained from
! %, $50 tons Of ore, an average of 81. SO4S
per ton, and from the chlorination
works 80, 234.21, an average yield Of
so S645. The total average yield was
%2. 6G93 per ton, the cost per ton
$1.2192, and the profit per ton 81. 1901.
Before the British Association, at
| liverpool. England, last month, Sir
James Grant read paper Oh the Cana
dian gold fields. He said that up to
| 1895 it was estimated that Nova Scotia
had produced gold TO the value of
$11. $50. 900. In the province of Quebec
gold was discovered in 1877. Last year
Professor Hardinan made an exanina-
ton in the province. After running u
tunnel 600 feet in length he struck the
ben of the old river, and in there weeks
removed enough gold to pay the entire
expense of his operations
The lumber interests Of the Pacific
northwest by reason of the impetus
given to mining, is again in flourish
ing condition, and the demand for
large timbers both in foreign and do
mestic mines never was greater In
the United States, Butte is the largest
consumer of these immense tilnbers,
and there is more of it underneath the
city to sustain the underground work
i ings than is used above in the dwell
]ings and business structures The
mines of South Africa and Australia
are also drawing heavily upon the
forests of Washington, and there is
scarcely week passes but vessels
carrying from 1000, 900 to 1900, 900
feet of lumber clear from Puget Sound
lorts for those countries.
As to the cost of the mining and
milling of ore in Utah, the Salt Lake
Tribune says that, although rarely
given publicity by those interested in
the upholding of the value of ore that
is profitably milled at Mercnr, it is
known that material Of q gross value
of $3 per ton is now beng handled.
The fact that at certain properties and
plants the ore is milled at a cost Of less
than 90 has been repeatedly attested to-.
Ineed, it is known at the Geyser,
where very little handling between the
ore bodies and the mill is required, the
cost has been reduced to SLIT per ton
for milling and extraction. The man
agement Of one. of the prominent mines
in the new district says that it could
earn dividends from ore Of the value
of s3 ton. but pleaded that his COM
pany had never been dependent upon
ores of that low grade.
There are nearly 800 mining com
panies incorporated TO do business in
British Columbia a large proportion
Of which are registered in Washington.
OF over 100 OF them the stock is
81, 900, 600 or over. Very few are cap
italized for less than $50O.OO One
has capital of $50, 900, ,OOO The
British Columbia Mining Record, in
commenting Oh this says: "There is
enough capital represented in that list
of incorporated companis to make the
mining industry of British Columbia
one of the wonders of the earth But
alas it is only on paper at present.
Later on large proportion of this
capitalization will be manipulated, not
for the purpose of developing our
mines, but for purely speculative pur-
poses to take money from the pockets
of innocent investors and place it in
the pockets Of stock gamblers. -
Inc IOmDOy mine at Ielluflde,
Colorado, has been sold to the explora-
ton company of London for ~, 600, 900.
The mine has paid in dividends
$40, 900. Hamilton Smith, the head
of the Exploration company, arrived
in New York on Monday and will go
to Chicago, where the Tomboy is
owned Later he will go on to Cali
fornia and will look into the Mariposa
grant which was offered to his com
pany"some time ago. The investments
Of the Exploration company in this
country far exceed those of any other
foreign company, and include the Ana
conda mines in Montana, an interest
in the Alaska -Treadwell mine, the
Oneida IN Amador county, Cal, large
properties at Steeple Rock. New
Mexico, and properties in southern
Oregon. Besides these they have
under consideration the Homestake in
the Black Hills, the Mariposa grant in
California, and other properties. If
they purchase these, their Investments
made in this country will easily exceed
SS0 G00 000 Tho hitcb in bo. no,