The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-09-01
GALENA FARM PROPERTY
An Interesting Story of the Fa-
nous Mine.
Mr.. M'CUNE'S PURCHASE
Together With Mr.. Hoge He Bought
the Property From the Original
Company That Made
Botch of 1t.


tana for several days, has returned to
his home in Salt Lake, accompanied by
w. l.. Hoge, with whom he is interest
ed in Montana and Washington mining
properties. E. G. Rykert of Montreal
is associated with Mr.. McCune and Mr.
Hoge in the Galena Farm mine, in
British Columbia. The Heraldsof Salt
Lake tells an interesting story con-
nected with this famous mine.
About five years ago an English
company was incorporated under the
name of the "Galena Mines. Limited"
with an authorized capitalizat ton of
SZ,5OO,000 in 50 shares. OF this amount
Sl,5OO,000 was issued and sold at par
Tor the purpose of purchasing a prop
erty adjoining the great Payne mine,
near Sllverton, in the SLOGAN Lake min
ing district of British Columbia. This
purchase was part of the Curra group
and is now known as the Galena Farm
AS matter of fact. this property
was purchased for $4,000 for the Eng
lish company. The English sharehold-
ers were told that the mine could pay
about 100000 per annum, although at
this time the developments consisted
OF 90 foot shaft and some drifting.
The management, in the space of about
Two years, spent $780, 900 in cash on
the plant and development, when the
discovery was. made that the ore was
of much lower grade than represent
ed; and worse still, development failed
to open up the ore body shown in the
upper levels. Several reports were
made on the property for the English
shareholders, and it became evident
that further large expenditure of
capital would be necessary before the
mine could be put in shape to pay divi-
dends
The funds by this time had become
exhausted and as result it became
necessary to shut down the mine, and
the last page Of this portion of the
mines history was written some weeks
ago when it was purchased by A W.
McCune, w. l.. Hoge and McGuaig,
Rykert & Co. of Montreal. This Mont
real firm is the owner Of the Payne
mine, the biggest mine and the one
that has paid the best dividends of
any mine in British Columbia.
The new owners of the Galena Farm
propose to develop and operate the
mine on scientific mining principles,
and considerable money will be eX-
pended in improved machinery. Recent
reports have been made to the new
owners of an immense body of ore in
sight. Carl H. Hand formerly of Butte,
superintendent of the Payne mine, has
been placed in charge of the Galena
Farm. There is already a fine hoist
and compressor run by water power,
and rapid development of the mine has
been determined upon. Ma
Regarding the Watseka mine, his re-
cent purchase in this state, Mr.. Nc
+ Cune spoke with enthusiasm. This
mine was extensively worked 80 years
ago and $1,500,060 worth of gold has al
ready been taken from It. The vein has
been worked for 1000 feet to the water
level, and 80 shafts were sunk, but the
mining was done in a slip-shod manner
and finally the great flow of water
made the mine Improbable. This was
due in part. too, to the fact that under
the old system of mining but 80 per
cent of the values We're saved, While
now IS per cent is saved.
The water problem was the first one
to be solved by the new owner. When
work began some time since, 800 gal
Ions of water per minute had to be
pumped out. The shaft is down now
200 feet and but 500 gallons per min
ute has to be pumped. The two streams
from which this water comes are being
fiumed and all signs indicate that the
water can be handled. The Watseka
vein is $50 feet in thickness and dips
at an angle of As degrees. Because. of
the great flow of water and the lack
of facilities for handling it, the mine
has not been worked to any depth The
new owner is positive that when he
has the water under complete control
he will have access to an ineXhausti-
BILE body of ore that will run $50 in gold
to the ton. The shaft now going down
will strike the Watseka vein at depth
of between 300 and 400 feet, and drift
ing into the vein will be done at vart-
GUS depths above this to facilitate the
removal of the ore. Mr.. McCune is
absolutely sure that he has a good mine
in the Watseka.