The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-08-16
CENTER STAR MINE SOLD
Butte Stockholders in the Ross
land Property Receive Money.
IT'S A CASH TRANSACTION
Two Million Dollars to Be Paid by a To-
ronto Syndicate, and Most of II
Goes to Northumberland
Greatest Mining Deal.
snecia1 Dispatch TO the standard.

kOSSlanu, Is. -, aug. 10 nv SdiF VI
the Center star mine to George Good
erham Of Toronto was practically COM
pleted to-day when the initial payment
of a quarter of a million dollars was
made through Toronto banks. The
balance, a million and e~-quarters I'm
cash, will be paid as soon as the com
pany. which has headquarters in Butte,
can hold the statutory meeting and ex-
ecute the deed. 1t is expected hat this
will he completed within 20 days. when
the new owners viii take possession
and put about 200 men to work. The
price paid for the mine Is the biggest
ever paid for a property In Canada.
The mine was developed by Oliver Du-
rant. backed by the late =. A. Largey
of Butte, and has proved to be one of
the most extensive deposits of medium
grade gold-copper ore ever fOund in
the Northwest. About 5000 feet of de-
velopment has been done, but only a
few hundred tons Of ore treated. The
reserves are practically untouched.
Among the stockholders i'm the Center
Star company were the Largey estate
of Butte, which VIII receive about S1OO,-
000; Godfrey Lavell. w. O.. Benham,
George HaIdorn and r. +. Mcbride, all
of Butte. Oliver Durant, manager OF
the property, and Alex Tarbet Of Salt
Lake are credited with receiving be-
tween them 81. 346. 900. The purchaser
is nominally George Gooderham of To-
ronto. a wealthy distiller and banker,
who. with others, recently purchased
the Wal Eagle for $3.50, 600. 1t Is sup
posed that his associates in the pres
ent purchase include 7. g. Blackstock
of Toronto and Charles Hosmer. man
apHr Of falapranh nf the Canadian Pa
cifc Railway All the pur-
chasers are Eastern Canadians with the
exception of John w. Mackay, the Com
stock millionaire. who Is said to be
among the buyers.
The stock OF the Center Star Is. ac-
cording TO report, held as follows: Es-
tate OF p. A. Largey, 20, 1000 shares
Geof Lavell. 1000: w. q. Benham,
5000: oliver Durant. $50. 600: A. II. Tar
bet, Ill 600; T. NJ. Hodgens, 1000: Mrs,
A. II. Tarbet, 10000; +. T. Mcbride,
1000: Sir Charles Ross of Scotland, 49,
900: George Haldorn. 400; Mrs. George
Haldorn, 1000: Eastern stockholders,
1000. total. 450, 600. There are 500, 600
shares altogether. and so, 200 shares are
held as treasury stock.
About the Big Deal.
NJ deal. says the Spokesman-Re-
view. has been in progress over a year,
and the property has been carefully eN-
amined by some Of the most eminent
mining experts i'm the country Among
these was Captain James Moorish. the
superintendent Of the Velvet. The re-
ports OF these experts were unanimously
favorable. as they all told the same
story of the great extent and perma-
hence of the ore deposits and the large
quantities OF pay ore in the mine.
In the deal Volney ID. Williams. who
sold the war Eagle to Messns. Black
] "A - -. o. ~ bAhA IL
OF the purchasers and brought ii to a
successful elimination.
on the part Of the Center Star com
pany Oliver Durant OF Spokane, the
general manager OF the company, car
ried on the negotiations. They were
]protracted and many points Of disagree
ment arose during the progress Of the
deal.
The deal reached a climax Saturday,
when Volney u. Williams of Spokane,
on behalf Of his principals, went to the
Center Star mine. took formal possess
~ion and discharged Foreman Joyce and
all the employees.
II IL stated on behalf OF the new own
ers OF the property that the develop
mpnt work will be Immediately re-
stunned on a larger scale, and that a
large power plant will be installed and
as many men as can be accommodated
will he put to work. 1t is stated that
tt AAit ~ " AA' "AAA ~ 80"
The mine Is in such excellent condition.
and so much ore being ready to top
that IL IL thought within a very short
time the shipments could be made to
come up to 500 tons per day, and a little
further on this could, by a little extra
effort. he increased to double that
quantity. The experts who have exam
iucd the property unite in declaring
that II is by far the best mine in the
camp.
The property Is the oldest location in
Rossland. The Lily May was the first
claim located. but the location was
abandoned. The Center Star was locat-
ed i'm 1890 and was not abandoned. The
property was purchased by MIR. Durant
for s25, 600. and since then he has de-
! veloped IL by some 5000 feet of work
/, ings, until now he has more ore in
sight than any other mine i'm the Koo-
? tenais. In this development II Is said
, that about 5000. 900 has been spent This
money was obtained by the sale OF
stock. From the first to the last. MIR
10 Durant has had the greatest faith In
% the Center star. and at last faith IL re.
10 warded.
New mpan Ia he Formed.
I 1t Is stated that a new company viii
be formed by the purchasers with 4
capital stock Of about $4,000. 900 or per
haps more. II will be a separate ant
distinct corporation from the War Ea
gle company and will have nothing
I'm common with that company. eNCep
that II will practically be owned b,
: the same parties.
= The deal is a good thing for Ross
5 land. for the reason that as tho Cente
Star has fallen into the hands Of
o syndicate with plenty OF means at il
q command. ii viii be worked for al
> there il In IL. 1t Is confidently Expect
l. cd that 1t will soon be turning out a
J. much. II not more ore. han any Of tn
! present producing properties. and vii
add greatly to the Importance of Ross
land as a mining center.
q Mr.. Durant is the owner Of the Idaho
Ie which adjoins the Center star on tn
: east. and the Gooderham- Rlackstocl
! syndicate endeavored to purchase thi
y also from Mr.. Durant. He refused poin