Potosi journal. (Potosi, Mo.) 1894-1929, 1898-11-30
BIG LEAD CORPORATION.
Formed to Mine Lead II. Southeast
efn Missouri.

st. Lousians have formed an
other big corporation to engage i'll
the mining Of lead in the southeast
ern portion of Missouri. The re-
markable outputs of the mines in
that district, and those in the south
western corner of the state have at
ractcd the attention Of prominent
capitalists, who. it is said, have re-
Gently bought up claims valued at
nearly IS, 900, adjoining the
property of the St. Joe Lead Co.
Yesterday the incorporation papers
of the company which will work
this land were filed at the court
house. The company will be known
as the Union Lead Company, and
will have Il capitalization of $780,
900, all paid up, and divided into
1000 shares at par value of 500
each.
The organizers Of the company
are prominently connected with
the Missouri Smelling Company Of
st. Louis. D. z. Doak, president
of that company, is the principal
incorporation Of the new concern,
holding $3.50 shares, The other in
corporators who hold one share
each are Samuel w. Fordiee, j. f..
McKeighan, G. W. Chadboufne,
A. l.. Shaplcigh, William Nj. SEN
ter, James Green, Hugh A. Craw-
ford, Samuel II. West, W. II. Lee,
William b. Dean, w. G.. Simmons,
j. II. Reifsnyder, George J..
Frankel, Henry &. Scott, Joseph
NJ. Hayes T. \. Johnson, J. IL.
Hornsticn, y. II. Francis, Joseph
Campbell, president of the State
Bank of Rolla, Mo, and w. j.
Spencer, of St. David, Iii.
The scope of the new corpora
ton will be very wide, under the
terms Of the papers filed. 1t asks
for the right to mine lead, zinc and
such other metals as may be found
on its land, to smelt, refine and mill
the ore, to operate a store if it so
desires, to quarry granite, marble
or such other deposits rs may be
discovered, and to buy and sell real
estate. The franchise of the COM
is to run fifty years. Eleven di-
rectors have been elected as fol-
lows: G. w. Chadbourne, James
Green, Samuel II. West, Joseph
Campbell, William b. Dean, Hugh
4. Crawford, D. Il. Francis, Hen
ry G. Scott, A. l.. Shapleigh, d.
=. Doak and j. +. Mckeighan.
The officers of the company will
be elected two days after the re-
ceipt Of the certificate of incorpor-
alton from Secretary of State Le-
sueur. The papers were forward
cd last night and the certificate is
expected to arrive Monday. 1t is
believed that the meeting to elect
officers will be held Wednesday af-
ternoon at the Office Of the Missou-
ri Smelling Company, in the Sc
curity building.
Investors will watch the opera
tions of the new company with Il
great deal of interest especially in
view of the recent entrance of the
National Lead Company, known as
the lead trust, into the Southeast
Missouri field. The so-called trusts
holdings were bought for for $780,
500. Il much smaller amount than
that already invested by the new
company, and those who claim to
be on the inside think they see in
the organization of the Union
Lead Company the biggest effort
yet made to prevent further en-
chroachmcnts on the part of the
trust. The National Lead Com
pany is now preparing to smelt
and refine its own product and to
increase its output so as to get in
to the general market, a step it
has not heretofore attempted to
take. The new company will, it
said, meet the trust on its own
ground. 1t is conceded that the
resources of the southeastern min
ing section arc ample for the car
rying out of this plan. 1t is this
stretch of country, with its rich de-
posits of disseminated ore in veins
from 6 to 20 feet in thickness, that
makes Missouri the greatest lead
producing section in the world.
Despite of increased production,
the price of lead mined in this sec
ton has rapidly advanced and is
still advancing. Until recently
the only St. Louis company in the
field was the Central Lead Com
pany. When the report showing
the yield for 1888 began to come in
there was a boom. Unprospcct.
ed property, which a comparatively
short time ago was to be bought
at farm land prices, is now held al
from 800 to $500 an acre. The
rush of St. Louis investors to gel
| into the field of late has been re-
markabIe. The Union Lead Com
pany is the fifth incorporated b,
| St. Louisans within ten days, the
total capital represented beins
S77O,5OO, all paid up.-Globe
| Democrat of 9th inst.