Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1898-11-12

Companies Heat the ~ W A"N ~
Low Pur VaInes-Rich Pla"ers in
Idaho and strikes in the Cascade
Nountnins-Mf ncrnIogfcaI Dis
coverics.
Frank Nj. Leonard OF Libby Mont,
states that an attachment was placed up
ON the Silver Butte mine an / plant, near
Vermilion, Mont, last week, by John
Willis, the storckeeper OF Thompson
Falls. to secure a claim OF SOl4o for mer-
chandisc furnished the company.
The Kentucky & Montana Mining Com
pany owns the Silver Butte property.
Some months since the company became
involved financially and miners i'll its en-
ploy placed liens upon the property to Sc
cure their claims. The company was said
to be backed by Louisville capitalists, and
some of them came out to see the prop
erty.
The wage accounts were settled and ar
ranoements made with the creditors oil
the company, some OF whom were Hpo-
kane business houses, for an extension
OF time until Il road could be completed
to the railroad and shipments OF concen-
tratcS commenced. Meantime the prop
erty was leased TO a new company, called
the Vermilion Mining Company, of which
r. r. Schulder manager OF the old Ken
lucky & Montana Company was presi-
dent. and George f. Bous OF MiesouIa,
prominent stakeholder. The leasers un-
dcrtook the operation OF thc property,
completed the road and be@ln shipping
/ concentrates to Helena, but the returns
We're not sufficient to keep mp the eN-
pense account and the attachment Is the
result.
it is said that the Silver Butte mine i
valuable property, and that it only
needs more systematic underground devel-
opment to make it successful. The mill
and other buildings are lar more elabor,
ate and substantial than thc ordinary
mine equipment, and have elected much
praise from mining men who have visit
ed the property. The location Of the
property is in the southwestern part OF
Flathead county, not far from the Idaho
line.
Low Pnr Values.
\ number OF new mining companies
formed during the last fe" months in var
ious sections OF the northwest evidently
intend TO get the best Of the var tax rev
cnuc business. As it has been unlustly
decided that the tax must he levied on
the par value OF stock, these new com
panico have cet-ced the par value to
and 10 ceuts While these tactics have
been re.Orted to to reduce the levy on
each share of stock issued, yet never
theleao it can not be called dlehOnorable,
for the taN as il has been decided by the
commissioner is unjust. No one would oh
iect 10 pay tax on the price for which
the shares are sold, but when the par
value Is 81 and the shares only bring,
say or 10 cents, it IS unreasonable to
demand the full tax on the 81, or par
value. As there is no other remedy, the
promoters have decided to organize new
companies in such Il manner that the
stamp tax will not act Us d prohibloly
measure.
Jewels. Jet and Bitum"H.
This past eight weeks have been very
productive in meteorological discoveries III
the area tributary to Great Falls, Mont
! Outside of the sapphire mine near Iogo,
! with its associate deposits OF massive cor
undum, and probably in the future the
finding Of rubies, specimens have been
furnished me this last week which prove
i conclusively the existence of that rare
metal, yanaducin, III the Yogo district;
also deposits OF Jet within distance of
20 miles OF Great Falls city. Further
more. within a distance OF five miles OF
Monarch bituminous deposits similar 10
those OF Utah have been found, and are
known To BE- Of pecunialy value,
In the Cascades.
Little has appeared in print, but the
strikes resulting from work performed
during the summer 81 96 on the west
side of the Cascade mountains are at
tracing wide attention and capital. \
New York syndicate, represented by Mr..
llaber, has been making payments on
their bond OF 100000 Tor group on
Troublesome creek, after expanding about
100000 in Development, showing some
great results IN Omaha syndicate has
jl9t purchased an interest from Mr.. Rude
beck OF the Sunset group near Index,
and large amount has been subscribed
to push operations About three weeks