The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1897-08-21
MINES AND THE MARKET
THE DROP IN SILVER AFFECTING
LARGE PROPERTIES.
A Large Ledge of Quartz I'm the Vi
cinity of Florence, Idaho
Fort Steele Claims.

yer Is n matter OF consequence 10 Tue
great Anaconda mines whose output Of
this metal last year amounted to 5,433,-
1926 ounces. Comparing the commercial
value of silver today, which is 554 with
that of year ago, when it was 6S4, it
is seen that the snrinkage in prices on
the Anaconda production of Argentifer-
Gus product alone, quality equal to that
for 1885, would be $706,397. This is equal
to fully GIG of lc per lb on l25,OOO,OOO
lbs of copper, says the Butte Miner. The
Anaconda has been getting out very
large copper product lately, that for May
being about l2,262 900 pounds. 1t is nee
essary to produce heavily in order to pay
its 10 per cent dividends on capital stock
of $3O,OOO,O0O. The whole plant and
equipment as it now stands is fitted and
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 l,250,-
600 ounces more silver than it did last
year, with the market price 500 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 1873 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 $3,000,000
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 25,0OO,-
600 pounds in the copper output.
Quartz in Idaho.
The largest ledge of quartz ever dis
covered in this basin or surrounding couu-
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
i'll hand mortars, and ali pronounce it a
great find, calculated to make the lucky
prospectOrs rich men. Webb has spent
over 30 years in active mining work. He
was here in the COS, and has since been
in California and Montana, and says ne
never saw any ledge so extensive as
this one. Two prospect holes have been
sunk on the ledge, one 10 feet deep and
the other about six, and show the ledge
to be over 20 feet wide. That much Of
the ledge is now uncovered, and rock tax
en- from different parts of the ledge shows
color and prospects well.
sunset Peak Region.
What is known as the Sunset Peak re-
gion, i'll the Occur d'Alenes, embraces the
territory from the twin SUBMITS of the
mountain down to its very base, some
20 square miles. This would be ground
enough for 600 full sized mining claims
and it is conservative estimate that
there are 500 locations made, many of
them fractions. To the north, east and
south it is quite generally timbered and
one can not see except in the imme-
date vicinity, but on the west there is
not a tree and scarcely shrub and from
some point on one of the sharp ridges
running toward Caribou Center one can
look about him and see three or four
thousand acres of mining claims, dumps
from tunnels and shafts of all sizes and
shapes looming up in every direction.
Lack of transportation has held the dis
trict back, and will continue to until
there is a railroad within easy reach
and men with money commence to open
up properties. The country is so large
and rough that no possible single line
OF road could open up more than 4
small part of the district without addi-
tional money to build tmmways and
wagon roads.
The New Year Gre we
w. del. Benedict, acting for New York
parties, has filed in the county clerks Of
flee at Helena, Mont, bond secured by
him on the New Year. Gibson, Virginia
and Ralph quartz lode mining claims.
commonly known as the New Year group
and the property of w. G. Norman and
a. D. Harmon. The terms of the bond
require the payment of $1,000 July 20
(which was paid, $500 December !,
1897, $500 February /, 1898, and the
balance of $4,000 on or before May !,
1902, making a total of $4,000 for the
properties. The bond further states that
Benedict is to have a suitable mill erected
on the property before May Is, 1898, and
that he is to pay Norman and Harmon
so cents per ton royalty on all ore taken
out, this to apply on the purchase price
and that after May 10, 1898, the amount
paid monthly for royalties is not to be
less than $500.