The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-03-01
SALE OF THE sNoHoMIsH.
Largest Mining Deal in Butte for
Several Years.


The largest mining deal in the camp
since the sale of the Moonlight claim
by Dave BricKer to the Washoe COM
pany, says the Butte Miner, has just
been consummated. A half interest IN
the Snohomish mine and a one-third
interest in the Tramway has passed
from the heirs of the Mcnamara es-
tate to F. Aug. Heinze and the Mon
tana Ore Purchasing company For
the half interest in the Snohomish
about 100000 was paid and $4,000 was
the amount agreed upon for one-third
of the Tramway lode claim. The deal
has been on for some days and is now
fully consummated, $4,000 having been
paid down in cash and the balance will
be paid in few days, as soon as the
preliminaries are arranged.
Dan Connale, who represents the Nc
Namara heirs. has been in the city for
the past week and he has made the
sale of the properties to the Heinze
people. These two interests represent
about all the valuable mining proper
ties left by the late W. ]. Mcnamara
and the price paid is considered gener-
ally good one. The other half inter-
est in the Snohomish and the other
two-thirds in the Tramway are owned
by the Butte and Boston people, and 1t
was supposed that the new company
would wish 70 bid on the Mcnamara
interests Some offers were made it
is understood some time ago by the
Butte and Boston people and it is also
stated on the best of authority that
the Butte and Boston people had the
refusal of the properties at the same
price paid by Heinze. Mr.. Hyams of
the Butte and Boston was here few
days ago and was approached and told
that the sale would take place. He
stated that the Butte and Boston was
not in a position to make an offer of
that sort, as he considered the price too
high, and the company did not wish TO
acquire new properties at such figures
where there was room for any doubt
about the real value of the mine.
Heinze is down below the Snohomish
over 200 feet in the Rarus,. which adj
joins the Snohomish and has been
marking right up to the line of
the Snohomish claim. 1t is said that
he wants the Snohomish for the pur-
pose of handling a tramway from the
Rarus across to the Montana Ore Pur-
chasing smelter as we'll as on account
of the value it may develop into as
mine. The Snohomish has been leased
for some time to James H Lynch and
others but where work is being done
there is said to be a limited quantity of
ore and that no money has yet been
made in operating the mine up to this
time 1t is down about 500 feet now,
but il is said to contain a rich lead
at a greater depth. The lease given to
Mr. Lynch and associates was origin
ally granted by the Butte and Boston
receivers and the Mcnamara people,
but on Jan. 1 the Butte and = Bos-
ton end of the lease was cancelled by
Receiver John Forbis. The leasers
have. however, continued to operate
the mine and the lease viii not expire
for some months in the future. OF the
Tramway but little is known and the
Heinze people, it is said, were not at
all anxious to buy a minority inter-
est in the claim. 1t was, however, in
sisted on as condition to the sale of
the Snohomish half interest that $25,-
O00 be paid for the Tramway interest,
which was done.
The Snohomish was not located until
1882 when James Larkin and W. j.
Mcnamara filed on it and sunk a shaft
down 40 feet when they struck ore
In 1881 the same two men and man
named Boyce located the Tramway.
Two-thirds Of the Tramway and one
half of the Snohomish was sold to the
Butte and Boston company. Robert c.
Burton sunk down $50 feet on the Sno-
homish and found ore, but as yet no
one has made money operating the
mine. AT the time the Snohomish was
located the ground had lain idle for
many years, as no one considered it
worth locating. There were no crop
pings on the surface to indicate min
eral below, but the men who located the
mine said they thought it was worth
prospecting, so located the ground and
sunk a shaft.