Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1897-04-09

An Immense Mining IDeal.
A number of Black Hills people
have for few months been closely
Watching the outcome of what is known
as the "Pierce Deal" an immense min
ing deal that was being engineered by
John Pierce. brother of our redoubta
BILE Doc. AS we understand it, the
deal involves about two million dollars
for the first transfer of property, after
which large sums will at once be spent
in developing and constructing mills
and smelters Concerning this deal,
the following from the Deadwood pa
pers will be of interest:
John Pierce of Sioux City and Will
liam Lees of Manchester. England,
who are the prominent movers of the
gigantic mining deal, involving Il large
tract of valuable property on the belt
known as the "Pierce deal," arrived
from the east yesterday and are stop
ping at the Bullock hotel. They will
until matters are satisfactorily ar
ranged. Mr.. Lees is very wealthy
man and represents "a vast amount of
English wealth. He has been associ
ated with Mr.. Pierce for ten years and
together they have interested probably
more English capital in the west
than any two men. This is the sew
enth trip to the interior of the United
States that Mr. Lees has made and his
first to the Black Hills. He talks en-
Enthusiastically of the future of the coun-
try and thinks it's Importance as IA gold
producer will astonish the world yet.
The men talk very little about the big
deal pending, as of course men hand
ling project of the magnitude of the
one ON foot are bound to exercise the
utmost caution. They say, however,
that the deal is practically closed. that
the Investigations so far are entirely
satisfactory. The properties on the
belt are considered equal to the Home
stake properties and the purchase by
this syndicate means another plant
like the Homestake. The plan of put
ting mill at Belle Fourche is perfect
ly feasible and will be carried out and
the mines will be developed in thor
oughly systematic and scientific man
ner. An attorney of the syndicate will
arrive from the east tomorrow for the
purpose of investigating the titles to
the properties involved and will remain
until that detail is carefully gone over.
More of the particulars concerning the
deal will be given us for publication
subsequently Times.
A large company has been formed of
which Mr.. Lees will become one ofthe
leading Stockholders upon the com
pletion of the transactions for the min
ing property. 1t will be known as the
Golden Grown Mining company, adopt
ing the title of the mine now belonging
Mr. McAllen and his associates, which
is included in the deal. 1t will be one
of the largest mining companies in the
west and will own nearly 800 acres of
possessions. Poorman gulch and Doad-
wood creek. This ground will include
the Golden Crown. Golden Summit,
Durango. Summit. Harrison. Cheyenne,
Grantz and Binham properties. The
original plan to establish plant at
Belle Fourche and ship the ore over
the Burlington will be carried out.
Nowhere else in the Black Hills
could SO rich a block of mining ground
have been obtained. The richest gold
ore ever found in the country has been
taken out and that without much
trouble. The new ;company will sink
for and undoubtedly catch one of the
richest bodies of ore ever revealed in
this wealth bearing gold belt-Dead.
wood Pioneer.
John Pierce and several Northern
Hills mining men spent the fore part
of the week here and in company with
Mr.. Lees had good time. They all
returned to Deadwood except MIR
Lees, who went to England on and inn
portant business trip in connection
with the deal which is about consum
mated and upon his return in a few
weeks the transfer will be made and
the money paid. John Pierce by his
energy and business sagacity has wo1
the everlasting gratitude of the Black
Hills in inducing the Investment OF
so large an amount of capital.
Piano Recital.