The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-10-10

Damm's rapid rise 10 the distinction Of
the Croesus OF Durango Is the story OF
the Promontorio mine. That Is proper
ty OF which the mining market never
heard. IL Is known 10 Durango people
because they see the OK carts and mule
wagons come creaking in with GOO 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.
lhe ore Is quartz, and all that Is thus
transported is of grade which yields
lou ounces TO the ton. The monthly ship
ment from the Promontorio is 10000
ounces Of silver. In year this amounts
20 100000 ounces. IL Is worth in
Mexican money 81 200, 900. and in Amer
lean money $0J0.O00. But this shipment
OF ore AT the rate Of GOO tons Is not all
or 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.
IL Is only 16 inches long by inches in
breadth and thickness. Every day one
or these bars is turned out az the mine,
brought down 10 Durango and added TO
the stack of treasure in MaXimiliano
Damm's warehouse. The mint officials OF
the United States will have an opportuni-
" 10 handle a collection Of these bars If
The present product Of the Promontorio
- l,30O;O 600 ounces year worth 81, 149,-
4OO IN Mexican money, and 20 be worth
that IN American money If 10 90 l pre-
vaiis. This is one mans mine. That is,
perhaps. the reason so little has been
heard of it.
About ten years ago. when silver be-
gan to 20 down, the Promontorio began
To uncover It's richness. With his rep
utatlon 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
10 the real business of mining. But
while doing development work Mr.. Damn
~ 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 a third-class
OF ore which has not been shipped TO the
smelter or treated az the mine. He now
has dump containing 10000 tons of
such ore which, he says, will average 60
ounces 10 the ton. That means 3000,-
900 ounces more, TO be worth $500
600 when the United States declares
for unlimited silver.
MaXimiliano Damn can furnish all
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 Mints Cheaper silver.
why is IL that in a silver country,
with unlimited coinage. bullion does not
go TO the Mexican minis 10 be coined
into dollars, but is shipped out 70 be
sold in another country where il has
fluctuating value and where so much of
II as would make dollar in your minis
is worth now only half a 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 neyer-ending
file with their sacks Of ore. The mine
owner chucked pebble over the preci-
pice and shook bis head. as If the ques-
ton was too much for him.
well, why do you send your own
bullion TO the United States 10 be sold
at bullion value under the gold standard
instead of having il minted into dollars
which are worth 100 cents on the silver
basisY'
The mine owner got out his pencil and
figured. He took the exchange. the cost
of transportation. the 81 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 cents
an ounce more when sold in the states
as bullion, after paying freight charges
and brokerage commissions. than il
would If taken 10 the Mexican minis and
coined into dollars"