Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1898-05-21

!; !; SALES and DEVELOPM[N'
MINING IN THE NORTHWEST
: The LIE Roi Sold for $3,OOO,OOO-
Historical Sketch of the Famou
Rossland PrOperty-In the Pierc
District of Idaho-New Life in Jef
fersOn County, Montana.
BY far the largest mining deal ever con
summated in the northwest was close
saturday, when the final papers wer
signed that transferred the famous LIE Ro
mlne and smelter at Northpert to tn
British America Corporation for the sun
OF S3,0O0,00O. By the terms of the sale ;
halt million dollars is paid down and al
equal payment made monthly until th
entire price is paid. The LIE Roi, since it
first development in 1895, has paid in div
ldends the handsome sum of SS25. COG. O
the S3-OoO,O00 paid for the mine, foul.
: flfths OF it goes to Spokane parties rh,
new owners have already acquired all TIL,
mining properties surrounding the LIE Ro
and Red Mountain, embraced in about
500 acres of land and it is now the inten
ton OF the corporation to develop a mum
Der OF these mines from the workings o.
the lie Rol mine. slus saving half mil
lion in development work.
Joe Burgeois and Joe Morris, two
French Canadian prospectors, were the
dlscoverers of the property. Joe Bur
geois, who had mined i'll placers but never
IN quartz, was sent to do assessment work
upon the Lily May, the first claim located
IN Rossland. This work performed Bur
geois loafed and smoked and waited fol-
supplies that were coming from Nelson
Looking across at Red mountain, he saw
1t was bare in places and could be easily
prospected. In the meantime he had be-
come associated with Joe Morris, a pros
pector, and the two went across the cam
yon and discovered the bold iron Gaping
of numerous strong veins. On these they
located the lie Roi, the War Eagle, the
Center Star, the Idaho and the Virginia.
But with prospective millions in their
grasp, Burgeois and Morris We're poor
men, so poor that they could hardly claim
a grubstake. Burgeois with his seant out
fit tramped over to Nelson. There he
/ showed 10
ment Burgeois was decidedly blue and
| discouraged until he run across Colonel
e. $. Topping. Topping had been mining
recorder and was running a small store
at Nelson. He questioned Burgeois and
found that the only assay was from the
Virginia. ''The others may do better"
he reasoned. ''It S clean ore and the veins
are big
The outcome was that Burgeois and
Topping made 'dicker.'' Topping was
to pay the fees for locating the five claims
and was to have his choice of one of the
properties. Burgeois came back to Trail
creek, stripped off the iron Gaping, put
in few shots and found clean ore above
the fir roots. Topping followed and made
crude assays, which gave more encom
ageing returns; and the three-Topping.
Burgeois and Morris = gathered around
their lonely camp fire and resolved to
stay with the strike and give it a fair
trial.
That is the story as narrated by Col
onel Topping of the discovery of the
mines of Trail creek
Burseois sold his holdings for $4,000
or $4,000 and went up into the Fort
Steele district and located silver-lead
claim, sold it for $4,000, and then went
to the Northwest Territory, bought
50OOacre ranch and sent back east to
Canada for his relatives The dream of
his life has been realized: he has ''struck
it rich" and settled down.
AIarris carried $4,000 to $4,000 out of
the camp, came down to Spokane, married
{; school teacher and bought a home on
the north side and has since become
farmer.
In the fall of 1890 George NJ. Forster
was at Colville trying lawsuit and be
came interested in the LIE Roi. He en-
tered into a bond with Topping whereby
he agreed in consideration of fourteen
sixteenths of the mine, to eNpend $4,000 in
development work. Forster returned to
Spokane and took in upon the deal Col
onel l. N. Peyton of Spokane, George Tur-
ner, Oliver Durant, w. NJ. Ridpath and
Alexander Tarbet. Colonel Peyton after
wards bought Topping's remaining inter
oct Of fri
chiefly in Danville, III.
About two years and half ago the
stock in the lie Roi was being peddled
about the city for so cents a share and
almost any price it would bring. 1t has
since been quoted as high as SIS.
Lump Gulch.
This phenomenally high grade silver
district is again coming to the front. 1t
includes a section of country along Lump
creek in the northern part of Jefferson
county, Montana, probably six or seven
miles in length by four OF five in width.
When prospected but slightly on the sur
face by men of limited means, the fall of
silver caused an abandonment of many |
promising claims and the final shutting
down of most of the producing mines The
Liverpool, Little Nell and one OF two 9th
er properties were worked in a desultory |
manner, but the life and spirit had gone
out of the district. But of late there has
been pronounced revival. The discov
cry of new and valuable ore bodies in va
rious properties has created new interest |
i'm the district The extraction of high |
grade ore from the Crescent has been fol-
lowed by the developments on the Rose
The latter property, under bond and lease
to George Holenback, has been developed i
by tunnel which caught the vein when
in 100 feet, fine body of ore being un-