Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-05-03
!OP|NIoN OF
| THE EXPERTS
On the Value of Larkin'S
Mines.
WERE SOLD DIRT CHEAP
According to the Estimate of Those
Who Testified at Today's
Session.
WERE SOLD DIRT CHEAP

hearing, William H. Young, who testified
yesterday afternoon, was again put on
the stand. He testified that as a member
of the firm of Irvine & Co. he was a
mining broker and had considerable to
do with the buying and selling of Butte
mines in the early '90s. His firm, through
himself offered William Mcnamara $780,
900 for one-half interest in the Snohomish
and one-third interest in the Tramway
properties, but Mcnamara was compelled
to decline the offer for the reason that
the property was tied up. He considered
the Snohomish and Tramway valuable
on account of surrounding property. He
enumerated the various properties he had
handled and sold, among others the
Burlington, Nettie, F~redonia, Belle Of
Butte, Auraria, Badger State and Cora.
During the cross-examination he said
he sold the Belle of Butte in 1877 or 1878:
the Auraria about 1881: the Badger State
in 1898 or 1894 to the Boston & Montana
company. The witness owned one-fourth
of the Badger State for which he received
Sc, $50; this mine was on the edge of the
copper belt. Witness sold an interest in
the Cora in 1888, giving a man a one
third interest for sinking on the prop
erty: and sold the balance of his interest
in May of last year on the basis of $780,
900 for the whole property: 5000, 900 in sill
yer and copper had been extracted from
the Cora; the SnohOnlish and Tramway
claims were not developed and paying
mines in 1898: witness offered Mcnamara
$780, 900 for his interest in the Snohomish
and Tramway in 1891; a Mr.. Dickerman
was interested with witness in the deal;
Fl witness and DipEarn1an cnntannnl9fpd
buying the Rarus, and negotiated for the
property on the basis of $3.50, 900, but the
deal fell through because they wanted
the Snohomish also and could not get it.;
the price of the property in 1898 as COM
pared with 1891 and 1892, was much lower
on account of the slump in silver: there
was no call for properties other thar gold
in 1898. which statement by the witness,
was the occasion Of a little political
repartee between Attorneys Leonard and
Forbis, Mr.. Forbis insisting that you
republicans were responsible for this
peculiar condition. while Mr.. Leonard
said 1--WE republicans, John, We're the
guilty parties" at which everybody in
the court room smiled.
He said he had resided in Butte since
1875 and was a mining operator; knew
James Larkin, and knew of the Tramway
and Snohomish properties; had dealt
more or less in Butte mines; was inter-
cSteu III the 1OuldlcHS. WDlcn was SOlQ
for $20e, 600; witness was interested in a
number Of other properties. From his
knowledge of the properties adjacent to
the Snohomish and Tramway he was of
the opinion that the reputed price paid
Larkin-s20,O 900 or s25, 000-was very
cheap.
Did you form that opinion at the
timer" asked Mr.. Forbis.
Yes; we talked about it when the deal
was made, and we We're of the opinion
that it was worth two or three times thai
amount replied the witness.
rs that your present opinion?"
Yes" replied the witness.
To all of these questions the attorneys
for the defense entered objections.
Witness then went back to the
Comanche deal, and told Of the peculiar
manner in which the money paid for the
property was pro-rated. Some We're set
2 tied with on a basis Of Sl50,00O for the en-
!. tire property; some on a basis of s175 900
However, +. A. Largely, who owned one
half of the property, received 100000.
On cross-examination by Mr.. Harvey,
Mr.. Tong said the Comanche was sold tC
the Boston & Montana company in 1894
He received either $50. 900 or s22, 500 for his
one-eighth interest in the property. The
demand for copper properties about tina
= time was not as great as in former years
and opper properties We're not worth as
much as at present. OF the actual value
of the Snohomish and Tramway proper
ties at that time he said he knew moth.
ing.