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 a proper
ty of which the mining market never
heard. 1t Is known TO Durango people
because they see the OK carts and mule
wagons come cfenkihE in with 600 tons
of ore monthly. The mine is 100 miles
north of the city, and the ore must be
hauled that distance in carts n wagons.
The ore is quartz, and all that is thus
transported is of n grade which yields
100 ounces 10 the ton. The monthly ship
ounces of silver. In a year this amounts
to 100000 ounces. 1t is worth in
Mexican money 81, 300, 900, and in Amer
lean money S650,000. But this shipment
Of ore at the rate Of GOO ton 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 1920 III Mexican
money and half of that in American mon
ey is not very formidable in appearance.
1t is only 16 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
Damm's warehouse. The mint officials of
the United States will have an opportuni.
~ to handle a collection of these bars If
frcI coinage becomes the law.
The present product of the Promontorio
is 100000 ounces n year, worth 81, T49,-
400 in Mexican money, and to be worth
that in American money If 16 TO i pre-
walls. This is one mans mine. Ihat Is,
perhaps, the reason so little has been
heard of it.
About ten years ago, when silver be-
gan to go down, the Promontorio began
10 uncover it's richness. With his rep
ntation established as the richest man
III 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 be 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 fssure vein which gives him
this ore carrying $50 ounces of silver
to the ton is from Is inches TO . feet
wide. While developing his property,
Mr.. Damn has taken ont a third-class
of ore which has not been shipped to the
smelter or treated at the mine. lie now
has Il dump containing 10000 tons of
such ore which, he says, will average go
ounces to the ton. That means 1000
900 ounces more. to be worth 1880
900 when the United States declares
for unlimited silver.
Maximilinno Damn can furnish all
Of the silver the minis of the United
States will be able 20 coin into
dollars during I'VE weeks of opera
ton at their present full capacity.
Open MINIS Cheaper silver.
"Why is it that in a silver country,
with unlimited coinage, bullion does not
go to the Mexican minis TO he coined
into dollars, but is shipped out 10 be
sold in another country where il has a
luctuating value and where so much of
it as would make a dollar in your minis
is worth now only half n dolIar?'
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 Owl
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
| 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 371
grains in the American dollar, the ounce
value, and made elaborate calculations.
AT length his face frightened.
SILVER" he said, yields today 4 cents
an ounce more when sold in the states
as bullion, after paying freight charges
and brokerage commissions, than il
would if taken to the Mexican minis and
coined into dollars"