Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1898-07-02
MINES AND MINING CAMPS
TWO GREAT SENSATIONS.
The Republic Bonded for Three
Million DoIIars-Exciting Times
Over the Lee ROi SaIe-New Roads

Spokane, June 27.-An option for 80
days has been given on the Republic
mine This is no longer a rumor. Pat
Elck Clark. the largest holder of Republic
stock, admits that such is the case
We gave a 3oday option on the Re
public about a week ago, said Alr. Clark
/ a-hen asked for ID statement on the sub
! Iect. Il am not at liberty at this time
TO name the terms OF the deal nor to say
to whom we have given the option. |
may say, however, that the option is for
so days for the purpose of permitting an
examination Of the property, and experts
are now making the examination on be
half OF the parties interested.
Nh Clark declined to discuss the de,,
for the sale of the mine further. 1t was
learned, however, from a most reliable
source that it is the British America Cor
poration which has tied the property up
for 30 days and that $3,OOO,OOO is the
in the employ of the big syndicate are
known to be i'll Republic. Parties bear
ing close relationship to the British
America Corporation assert that there is
little doubt that the deal will go through.
Hon. c. H. Macintosh, managing di-
rector of the British America Corpora
ton, came down from Rossland late last
week and was asked about the option on
the Republic.
Il am much annoyed said he. Sen ac-
count of these reports that either | or the
British America Corporation have bond
ed the Republic mine or taken an option
on it. There is no truth i'll the state
ments to that effect and no foundation
for the rumor. | want also to enter al,
emphatic denial that Whitaker Wright
OF any of the parties with whom he is
interested i'll mining in the northwest IS
concerned i'll any bond OH the Republic
mine. | know that such is not the case.
and YOU can say most positively that
neither the British America Corporation
nor any official of it is in any way con-
cerned in any bond or option on the prop
erty On the contrary, may add that
am in receipt of telegram from Whit
aker Wright advising me that the cor
poration will not buy any more proper
ties for at least seven months. SO it will
be that length of time at least before we
can begin to consider properties in Ell
reka camp
= Governor Macintosh is evidently right
in stating that the British America Cor
poration has not taken the option on the
Republic mine. 1t is we'll known that it
is not the intention of the corporation to
operate under that name and organiza-
tion on this side of the international
boundary line. 1t is asserted by parties
in Spokane in a position to know the
facts that it is the Whitaker Wright
crowd that is seeking to buy the mine.
While this is not the British America
Corporation, the deal is said to be in
spired by the men in London who are the
head and front of the corporation.
The sale of the Republic for $3,00O,OOo
is the biggest mining deal ever content /
plated in Washington, and if it is closed /
will be the biggest mining sale made i'll
the western part of the United States in
the last quarter OF century. Consider
ing the fact that the mine was located
only little more than two years ago, in
February, 1896, and that it is developed /
only to the 20O-foot level, the price is a
large one. But when the fact is taken
into consideration that the purchasers /
risk nothing in buying the property at
that figure, as it is conceded by conse,va
tive mining men that there is almost if I
not quite enough ore in sight to pay the
price, the figure is not astonishing.