The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1898-12-03
NEWS OF PRECIOUS METALS
ITEMS FROM THE BIG CAMPS.

weat--End Of the lie ROi Struggle
Reached at Last-Strlkea and Dav-
tdendS-Quick Work On Tunnel-
General MiAing Notes.
After almost a year Of diekering the
British America Corporation last week
closed the deal by which it will become
absolute master Of the lie Roi mine in
RosslaRd. The Turner stock passes into
the hands OF the corporation to the extent
OF 100000 shares. The price viii be $7.25
per share, or sl.4s6,25O in money, and the
vendors of the stock will be allowed the
cleanup at the smelter, which it is vari.
ously estimated will net from $4,000 to
100000. 1t is considered safe to say
that the price all told will be s. net to
the members Of the minority faction.
Reorganization of the directory OF the
lie Roi company was effected, and the
British America Corporation is now in
control OF the property. At the meeting
OF the trustees the designations OF the fol.
lowing members OF the board were pre-
sented and accepted: Valentine Peyton. /.
n. Peyton, J. NJ. Armstrong, w. j. C.
Wakefield and ID. NJ. Henley, They were
all members OF the majority, or the Pey.
ton faction as it was known during the
most stormy period of lie Roi history
they did not resign office at the time OF
disPosing OF their stock to the British
America Corporation, it being understood
at that time that they would continue to
serve until it suited the interests of the
British America Corporation TO have
them resign.
In the stead of the gentlemen who re,
signed the following were elected; c. ii
Macintosh, I. Mayne DAILY and Edwin
Durant OF ROssland and W. b. HeybuTn
and George Turner Of Spokane. The other
members OF the board holding over are
} w. j. Harris, w. w. ID. Turner, Frank
Graves and w. NJ Ridpath. The board
As reOrganized will remain in office until
the annual meeting, which takes place
/ January Il, 1899.
An Idaho strike.
! The Mascot Mining Company, operating
4 on Gold creek, in the Pierce district, Ida
/ no, has struek'it rich--a mill test OF 10
tons netting 27i ounces OF gold, which
was brought to Kendrick by Captain T.
/ 4. Rodgers, manager OF the company. The
q results have elated the operators, and
: work has been commenced on a POO foot
D tunnel, which will open up large body
r OF ore. The company has sawmill and
! an amalgamator at Kendrick and will
push the development work all winter
fsV d. = Ia. . h..
T. ore that had been subject To test that
Z show ed considerable chloride Of gold, an
: element that was not known to exist in
: the ore OF that district in paying quaint
+ ties.
Rapid Work on Tunael.
The Bunker Hill and Sulliyan's kellogg
tunnel is making more rapid progress
than any tunnel has ever made in thi
Occur d'Alenes. 1t IS now in over mil,
and is adding IL feet 10 its length as reg
ularly a. each day comes ABOUND. NJ
very hard rock has been eneounteret
thus far, nor has there been any sign %
:, mineral wealth. II was commonly eN
. pected that blind leads carrying orr
would be cut before going as far as they
have already gone The surface OF Lh'
: ground thus far has been generally GOV
!, cred, and nothing known OF what was II
the formation, although several claim
nave been located on it at different times
Another Dividend Payer.
!. Another famous old dividend payer Ia
e swung back into line. The Tiger Poor
I. man Consolidated Mining Company las
. week declared a dividend Of $4,000,
Ie cents per share on the capital stock o
100000 shares, payable December 90. Ii
2 their day the two companies, before con
lie solidation, paid dividends Of half a mil
lie lion dollars each. The property Of tn
Is company is on Canyon creek, in the Coeu
W d'Alenes. 5. 5. Glidden, president Of tn
Old National bank OF Spokane, il presi
r dent, and Frank CulbertsOn Is secretar.
Y, and general manager. Mayor f. d. Ohm
>. sted OF Spokane and II. l. Frank an'
10 John Noyes Of Butte are the other di
Is rectors. The stock is held almost exclu
sively in Spokane and Butte. Barring un
ce foreseen accidents, or lack Of water iron
u severe weather and the freezing up Of To
ID sources in the hills, the company expect
t. to pay $4,000 regularly every 60 or "
ID days.
>. Gold Quarts vein.
1t f. G.. and Fred Ellis, George Lsnnstran,
and Harry Dame have discovered a tru
1t assure gold bearing qRlrtz vein, which in
It creased in width from less than a foot
Is grass roots to five feet in width at dept
le Of 81 feet, which assayed from IS cents a
L uncoyering 10 s52 at a depth Of so feet
II The claim was discovered on Three Mil
creek, overlooking old Alder gulch, whiei
= yielded over sl5OOOOOOO in gold, ans
c within three miles Of Virginia City, Mon
!" tana-
Grub stake Salt
. The Big Buffalo claim, the original 10
eation which caused the stampede snC
&c excitement in the Florence district o
" Idaho last August, is to be the subject o
grlbstake lawsuit. J. n. Rice Of Flor
= ence was in Spokane n few days since
and engaged the services Of w. b. Hey
!, burn TO bring suit against Rigley, one o
4 the locators Of the property, claiming
that he is entitled 10 half Of Rigley's 10
: cations during 1898 through having grub
. staked the prOspector. He claims TO have
!. documentary evidence that he paid foI
the outfit which Rigley was using at th'