Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1897-07-10

III, lSJ!
IDENTIFY been secondary, the solutions
under great pressure having cracked
these dikes from one end TO the other.
From these cracks and assures the min
eral waters have been yelling perhaT 8
for ages, finding yent in al places and
along the lines which offered the least
resistance.
The highest grade copper ore, and the
largest bodies, as haye stated, occur in
the fiat chutes, not between, or in the
layers Of ssdimentary rocks. but in the
hat clevages, in the dollomite itself,
which has in most cases become meta
morphosed and changed to high grade
copper ore. This is brief description
Of the way our ore occurs in the South
ern Queen copper mine, in which We
are now engaged. But this is not the
whole story. The occurrancs of the
ores in this camp are unique and
peculiar, differing from any and all Of
the various formations which | have
thus far encountered in all my pros
peciing researches for the precious
metals. 1t is a study, and a study which
| am still pursuing. I am not able as
yet, or at least do not feel justified in
formulating complete theory in regard
70 these veins.
In this connection I would remark,
that consider it somewhat singular
that our mineralogists and geologists
alike, seem to have overlooked this
formation, or at least in all my reading
/ have failed to find where they have
shed any light on the origin of these
dikes and domes of dollomiie. In ad-
dition to our copper, we have belt of
gold veins running through this section.
These veins are not small but on grand
scale There seems to have been no
prospecting Of any consequence in this
vicinity save what we have been able to
accomplish, and We have had but few
tests made, they run all the way from
So to Sl4 per ton.
Further on when opportunity offers I
will try to give you a more detailed
description Of this peculiar and interest
ing section Of Custer county.
G. w. ROBBINS.
HoMEsTAKE MINING STOCK.
It has been some time since trans
fer Of Homestake mining stock has been
made in this city, and the fact that John
Mauss has just sold one hundred shares
to Ed Danielson, of Yellow creek, is an
item of unusual interest. The price
paid for the block vas $4,000 or $40 per
share, II B. Young making the transfer.
Sales OF Homestake stock have been
very infrequent Of late years, as there
has been none on the market, in conse-
quence Of the steadily increasing value
and % cent monthly divide nd. The
Homestake now stands at the head
of the list Of gold mines on the Ameri
can continent in the amount Of divi-
ends paid, with s6,275,OO0 to date and
is still paying. The Granite Mountain,
of Montana, producer Of gold and
silver, has paid sl2, l20, 900, but the last
dividend was in July. 1892. The Home
stake has levied in assessments 100000
the last levy having been made in July
1873, of 81. The capital stock of the
company is Sl2,5O0,O00 or 125000 shares
with par value of 500 each. In point
of current dividends this mine stands
third on the list of all the mines, with
slS7, 800 that has been paid since Janu.
airy lst, 1897.
The Deadwood- Terra, owned and op
Grated by the same company, is stock
ed at S5,000,0O0 or 100000 shares o!
stock with par value of S25 per share.
The mine has paid in dividends 81 800
600, the last dividend of 40 cents a
share, being paid last month, amount
ing to $4,000.
The Highland, also belonging to
and worked by the company that owns
the Homestake, commonly regarded as
part of the same property, is capi-
talized at Sl0.000,0O0, the stock having
a par value of 800, there being 100000
shares. This mine has paid in divi.
dends S3,244,9lS, the last, of 20 cents
a share, having been paid in February
of this year, asgregating $4,000.
Thus it may be seen that the three
mines, situated three and half miles
from Deadwood, and within a radius
of one mile, have paid in dividends
jointly, up to the present time Sl0,S39,
9ls, virtually the dividends of one
mine, since the stock Of the three com
panies is largely held by the same men
Prior to the consolidation of the
three mines, which was in about 1880
the Deadwood had paid in dividends
S275,00o, the Terra $4,000. \ few
years ago the grade of the ore tassE
from his mine had deprecated unit
the average value per ton had reached
the low figure of 81 so per ton. Because
of this it became necessary to suspend
work, and the mine was idle for O
year and half, subsequently resum
ing work after the miners had agreed
to make concession in the matter oi
wages. Since the resumption Of work
the value of the ore being worked ha:
increased until it now promises tc
reach its former value.-Pioneer-Ti Times