Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1897-08-20
MINES AND THE MARKET
THE DROP IN SILVER AFFECTING
LARGE PROPERTIES.
A Large Ledge Of Quarts in the Vi
cinity of Florence, Idaho
Fort steele Claims.

yer is a matter OF consequence to the
great Anaconda mines whose output of
this metal last year amounted to 5,433,-
SIG ounces. Comparing the commercial
value of silver today, which is 55h with
that of year ago, when it was 6SA, it
is seen that the shrinkage in prices on
the Anaconda's production of Argentifcr-
Gus product alone, quality equal to that
for 1856, would be $7O6,397. This is equal
to fully GIG of lc per lib on l25WOWN |
lbs of copper, says the Butte Miner. The
Anaconda has been getting out very |
large copper product lately, that for May
being about 1892 600 pounds. 1t is nee
essary to produce heavily in order to pay
its 10 per cent dividends on capital stock
of $3O,OOO,OOO. The whole plant and
equipment as it now stands is fitted aud
arranged for an enormous production.
and no curtailment in output should be
expected. As it has depended on the sill
yer and gold from its mines to furnish
the bulk, if not all of its profits. with
the decline in bullion value of silver, the
Anaconda would have to produce ,25o,-
600 ounces more silver than it did last
year, with the market price $50 cents to
obtain an income equal to that on its
1897 output of silver. Every cent that
silver declines in price per
ounce means loss to the Ana
conda of $54,33S on basis of last years
output During 1896 the Anaconda pro-
duced nearly one third of all the silver
produced in the state of Montana. 1t
would require very nearly the entire sill
yer output, at present prices of bullion, to
pay the Anaconda dividends of So 600 900
per annum. Both the Argentiferous and
auriferous yield of the Anaconda were
somewhat less in 1896 than in 1895, not
withstanding an increase of over 25,OOO,-
600 pounds in the copper output
Quarts In Idaho.
The largest ledge of quartz ever dis
covered in this basin or surrounding coun-
try was found the other day, two miles
east of Florence, Idaho, between Grouse
and Meadow creeks, by Webb and Mar
tinson. Practical and capable miners
have investigated it and tested the rock
in hand mortars, and ali pronounce it a
great find, calculated to make the lucky
prospectors rich men. Webb has spent
over 80 years in active mining work. He
was here in the COS, and has since beer
in California and Montana, and says nc
never saw any ledge so extensive a
this one. Two prospect holes have beer
sunk on the ledge, one 10 feet deep ant
the other about six, and show the ledg'
to be over 20 feet wide. That much o
the ledge is now uncovered, and rock tax
en- from different parts of the ledge show
color and prospects well.
Sunset Peak Region.
What is known as the Sunset Peak re
gion, in the Occur d'Alenes, embraces tn
. territory from the twin submits of tn
!. mountain down to its very base, som
20 square miles. This would be groun
enough for 600 full sized mining claim
and it is conservative estimate tina
there are 500 locations made, many {
- them fractions. To the north, east an
= south it is quite generally timbered an
one can not see except in the imm'
d date vicinity, but on the west there
not tree and scarcely a shrub and fro'
y some point on one of the sharp ridg'
running tOWaTu SdiIoou Seh'ei o"o -
a look about him and see three or fol-
n thousand acres of mining claims, dunn
o from tunnels and shafts of all sizes an
- shapes looming up in every directio
:, Lack of transportation has held the d'
~ trict back, and will continue to unit
e there is a railroad within easy reat
lie and men with money commence to opt
up properties. The country is so lar'
and rough that no possible single lii
!" of road could open up more than
Is small part of the district without ado
he tional money to build tmmways al
e. wagon roads.
& The New Year Group.
n w. del. Benedict, acting for New Yo
re parties, has filed in the county clerks {
ty fee at Helena, Mont, a bond secured
90 him on the New Year, Gibson, Virgin
I'd and Ralph quartz lode mining CLAIM
ly commonly known as the New Year gro
in and the property of w. G. Norman a
IN A. d. Harmon. The terms of the DO
he require the payment of $1,000 July
p- (which was paid), $500 December
so 1897, $500 February !, 1898, and
balance of $4,000 on or before May
1902, making total of $4,000 for
properties The bond further states Il
W. Benedict is to have suitable mill erect
on the property before May Is, 1898, a
i'm that he is to pay Norman and Harm
lie so cents per ton royalty on all ore tai
IN out, this to apply on the purchase pr
OIL and that after May Is, 1898, the amo,
he paid monthly for royalties is not to
VS. less than $500.
to May Close Creole Mines.
yer 1t is probable that the great sill
ito mines at Creole, Col, will be clio
down on account of the low price of
yer, unless railroad and smelling ra
are reduced. Several conferences h
cy. been held between the mine owners I
ON the smelter and railroad officials, ant
81, is said the latter evinced a disposit
use to make every concession possible in or
;no tn keen the mines in ODeratiOn, II