Daily inter mountain., 1899-03-03
COLORADO co,
PLANT SOLD
To a New York Copper
Syndicate.
PRICE SAID TO BE ST. 100000
Broker Lawson Still Hammering al
Parrot--Other Mining
Matters.
PRICE SAID TO BE $2,5O0,000

For several days it has been rumored
in Butte that negotiations looking to the
sale of the Colorado Mining and Smelling
company plant in Butte were in progress.
AS the head office of the company is in
Denver little could be learned at this end
Of the line, the general belief being, how
ever that the Standard Oil company was
a party to the deal.
An Associated Press dispatch received
this afternoon from Denver states that
the deal has been made, New York COM
pany being the purchaser, and the price
stated being $2,500000. AS the dispatch
emanates from the city where the head
office of the company is located it is sup
posed that the information is correct, al
though the stated price, in view of the
present market price of copper, and the
splendid equipment of the plant Of the
company, seems ridiculOusly low.
Mr.. Henry Williams, the present gem
eral manager of the Colorado company
in this city, is making preparations today
to leave for Santa Barbara, California,
His health has been poor for several
months. He declined to affirm or deny
the report, but one of the officials of the
company stated to an Inter Mountain re-
porter that there was some ground for
the report, although he was not aware
that a sale had been made.
An inquiry at the Office of the Colorado
smeter at a late hour this afternoon
brought forth the information that there
had been some changes, and some trans
fers of stock made, but that the proper
,ai N
under the same management 1t was
stated that positively no changes would
be made here
The Colorado Mining and Smelling COM
pany is one of the most successful ana
enterprising mining companies of Butte.
1t was incorporated in 1879 under the title
of the Montana & Colorado Mining and
Smelling company, but in 1888 the title
was changed and the "Montana' was
dropped. 1t had a capital Of $1,000,00O,
but as the stock was held by six individ-
uals it's dividends have never been made
public. Among the largest holders of
stock were Henry r. Wolcott H. p. Hill
and Richard Pearce of Denver and w. A.
Clark and Henry Williams of Butte.
The mines owned and operated by the
cOupdHy uuIlHS 1890 NeAS thS NoS'AoiA
and Otisco. Other properties owned by
the company are the Nettie, Philadelphia,
Hibernia, Original, California and
Mountain Boy. The latter are all silver
producers and have not been worked dur
ing the past few years. The Gagnon is
the pioneer of the district. 1t has been
the principal producer for the company.
1t is opened up to a depth Of 1925 feet
and employs about 500 men. The dip of
the vein in the Gagnon is greater than
in any other mine in the copper belt, and
it is the only incline shaft on any of the
big Butte copper properties. Its produc-
ton will average 25O tons daily. 1t was
originally silver mine, but below water
level large body of copper was encoun-
tered. It's ores carry golenite, spholcr-
ite. silver sulphide, a very rich silver
copper-zinc bende, pyrites and chal
cOpyrite. No copper ore in paying GUAM
titles has been found west of the Gagnon.
The smelter of the Colorado company
was almost destroyed by fire five years
ago, but was rebuilt with all the modern
appliances for the cheap and complete re-
duction of all grades of ore. 1t is
equipped with the famous turret fur
naces patented by Richard Pearce. The
smelter can treat 500 tons of crude ore
per day in it's six reverbatory furnaces.
The matte is sent to Denver for final
trea tment. The ore is hauled to the
smelter from the Gagnon mine by means
of an electric railroad, but the company
is one of the largest purchasers of Gus
tom ore in the district.
THE PARROT