Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1898-12-03
NEWS OF PRECIOUS METALS
ITEMS FROM THE BIG CAMPS
Mining News + ON the Pacific North
yycst-End o the LIE Roi Struggle
Reached ut ast-Stril<es and Div
idends--Quick Work on Tunnel
General Mining Notes.

} General Mining Notes.
After almost a year of dickering the
British America Corporation last week
closed the deal bi which it will become
absolute master the lie Roi mine in
Rossland. The Timer stock passes into
the hands of the drporation to the extent
of POS 900 shares THE price will be 1925
: per share, or $l,4a250 in money, and the
vendors of the st9k will be allowed the
cleanup at the sntltcr, which it is var-
ouslv estimated vii net from $l500O0 to
100000 1T is tnsidered safe to say
that the price all told will be IS net to
the members of III minority faction.
Reorganization i the directory of The
lie Roi company Fas effected, and the
British America Corporation is now in
control of the PRIORITY. At the meeting
of the trustees the designations of the fol-
lowing members o the board were pre-
scented and accepted Valentine Peyton, }.
n. Peyton, j. NJ Armstrong, w j. c.
Wakefield and D. y. Henley. They were
all members of thema jority, or the Pey
ton faction as it WIS known during the
most stormy period of lie Roi history
They did not resgi office at the time of
disposing of their stock to the British
America Corporation it being understood
at that time that tiey would continue to
serve until it sutel 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, 7. Hayne Daily and Edwin
! Durant of Rosslmd and w. b. Hepburn
and George Turnr of Spokane. The other
members of the board holding over are
/ w. j. Harris, ". w. d. Turner, Frank
/ Graves and w. Il, Ridpath. The board
as reorganized viii remain in office until
the annual meeting, which takes place
January II, 1899.
An Idaho Strike.
The Mascot Mining Company, operati
on Gold creek, in the Pierce district, Ida
no, has struck it rich-a mill test OF 40
tons netting 273 ounces of gold, which
was brought to Kendrick by Captain E.
7. Rodgers, manager of the company. The
results have elaed the operators, and
work has been commenced on 2OO-toot
tunnel, which will open up large body
of ore. The company has a sawmill and
an amalgamator at Kendrick and will
push the development work all winter
Captain Rodgers showed sample OF the
ore that had been subject to test that
showed considerable chloride of gold, an
element that was not known to exist in
the ore Of that district in paying quanti-
ties
Rapid Work on Tunnel.
The Bunker Hill and Sulliyan's Kellogg
tunnel is making more rapid progress
/ than any tunnel has ever made IN the
/ Occur d'Alenes. 1t is now in over a mile
and is adding y feet to its length as reg
ularly as each day comes around. No
very hard rock has been encountered
/ thus far, nor has there been any sign OF
/ mineral wealth. 1t was commonly eX-
pected that blind leads carrying ore
would be cut before going as far as they
/ have already gone. The surface OF the
ground thus far has been generally COW
cred and nothing known OF what was IN
the formation, although several claims
have been located on it at different times,
Another Dividend Payer.
Another famous old dividend payer has
swung back into line. The Iiger-Poor-
man Consolidated Mining Company last
week declared a dividend of $4,000,
cents per share on the capital stock OF
100000 shares, payable December ~. In
their day the two companies, before con
sohdation, paid dividends of half mil
lion dollars each The property OF the
company is on Canyon creek, in the Occur
d'Alenes. S 5. Glidden, president of the
/ Old National bank of Spokane, is presi-
dent and Frank Culbertson is secretary
and general manager. Mayor Il. d. Ohm
sted of Spokane and Ii. l.. Frank and
j ohm Noyes of Butte are the other di-
rectors. The stock is held almost eXclu-
sively in Spokane and Butte. Barring I'M
foreseen accidents, or lack of water from
severe weather and the freezing up of the
sources in the hills, the company expects
to pay $4,000 regularly every GO or 90
days.
Gold Quartz vein.
+. G. and Fred Ellis, George Lennstrand
and Harry Dame have discovered a true
assure gold bearing quartz vein, which in
creased in width from less than foot at
grass roots to five feet in width at depth
of 81 feet, which assayed from rs cents at
uncovering to $52 at a depth of so feet.
The claim was discovered on Three Mile
creek, overlooking old Alder gulch, which
yielded over $l5O,OOO,OOO in gold, and
within three miles of Virginia CITY. Mon