The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1898-05-21
SALES AND DEVELOPMENT
MINING IN THE NORTHWEST.
The lie Roi Sold for $3,OOO,OOO-
Historical sketch of the Famous
Rosslnnd Property-In the Pierce
District of Idaho-New Life in JEFF
ferson County, Montana.

BY far the largest mining deal ever con-
summated in the northwest was closed
Saturday, when the final papers were
signed that transferred The famous LIE Roi
NINE and smelter at Northport to the
British America Corporation for the sum
OF $3,OOO,OOO. BY the terms of the sale a
half million dollars is paid down and an
equal payment made monthly until the
entire price is paid. The lie Roi, since its
first development in 1895, has paid in div
idends the handsome sum of 1926. 900. OF
the 100000 paid for the mine. four
fifths Of it goes to Spokane parties The
new owners have already acquired all the
mining properties surrounding the LIE Roi
and Red Mountain, embraced in about
500 acres of land, and it is now the inten-
ton OF the corporation to develop num-
Der OF these mines from the workings of
the lie Roi mine. shus saving a half mil
lion in development work
Joe Burgeois and Joe Morris, two
French Canadian prospectors, were the
discoveries of the property. Joe Bur
geois, who had mined in 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 for
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 can
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 were poor
men, so poor that they could hardly claim
grubstake. Burgeois with his scant out
fit tramped over to Nelson. There he
showed his samples, with little encourage
ment. BurgeOis was decidedly blue and
discouraged until he run across Colonel
E. s. 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. 1T s clean ore and the veins
are big"
The outcome was that Burgeois and
Topping made a "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 a few shots and found clean ore above
the fir roots. Topping followed and made
crude assays, which gave more encour-
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.
BurgeOis sold his holdings for $4,000
or $4,000 and went up into the Fort
Steele district and located a silverlead
claim, sold it for 100000, and then went
to the Northwest Territory, bought a
5000-acre 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."
Mairis carried $4,000 to 1000 out OF
the camp, came down to Spokane, married
Il school teacher and bought a home on
the north side and has since become a
farmer.
In the fall of 1890 George NJ. Forster
was at Colville trying a lawsuit and be
came interested in the lie Roi He EN-
tered into bond with Topping whereby
he agreed, in consideration of fourteen
sixteenths of the mine, to eXpend $4,000 il
development work. Forster returned tC
Spokane and took in upon the deal Col
onel ]. n. Peyton of Spokane, George Tur
ner, Oliver Durant, w. NJ. Ridpath anC
Alexander Tarbet. Colonel PeytOn after
wards bought Topping's remaining inter
est, dividing it among a few of his friends
chiefly in Danville, Ill.
About two years and a half ago The
stock in the lie Roi was being peddleC
about the city for 80 cents a share anC
almost any price it would bring. 1t hai
since been quoted as high as So.
Lump GuIch.
This phenomenally high grade silve
district is again coming to the front. L
includes a section of country along LumI
creek in the northern part of jefferson
, county, Montana, probably six or sever
miles in length by four or five in width
When prospected but slightly on the sur
face by men of limited means, the fall o
silver caused an abandonment of many
promising claims and the final shutting
down of most of the producing mines. TIT
Liverpool, Little Nell and one or two 9th