Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1899-11-08
SPOTTED HORSE
GROUP SOLD
To a Salt Lake City Company
for S215yOOO.
The Deal the Result Of Negotiations
Conducted Largely by Cashier
Wright Of the Bank Of Fer
gus County.

The biggest mining deal ever made
in Fergus county was contaminated
last week by Frank L. Wright of the
Bank of Fergus County and A. Fl. S.
Bird of Salt Lake city. BY the terms
of the purchase the Spotted Horse
group OF mines, which includes the
Spotted Horse, Kentucky Favorite,
Broad Arrow and Lorette claims,
passes into the hands of the Johanna
Gold Mining company Of Salt Lake,
Utah. The price paid i'm the final
deal was $215, 900, more than a hum
dred thousand greater than in any
previous deal since the transfer Of the
same mines from p. W. Meadow
many years ago.
F. e. Wright, and A. s. Wright OF
the New Year, have been working on
the deal for months past. About a
month ago there arrived from Utah
Mr.. Bird, who had looked v the
property previously and came to
make a more thorough examination
and possibly effect a purchase. He
is a brilliant young maj and a min
ing engineer Of both theoretical and
neutrality-suspicious.. 1t ia understood
he represents Mccormick & 60. OF Salt
Lake, well known bankers and min
ing men, az well az himself.
The history of tn" great mine is
well known. Mr.. McA, ow and 9TH
ers had grown rich on its product,
but of late years the mine has been
unfortunate In its managers. After
a failure of the Consolidated Double
Eagle Gold Mining Co. of Chicago, the
property was sold at sheriff's sale
and purchased by the Bank of Fergus
County and others. LaterJ. l.. Bright
bought the property for $35, 900 and
for q time it seemed a tho he might
be able to make 1t pay. But failure
followed and after eighteen months
the mine was again sold. being trans
ferred by the sheriff in December OF
last yerr to Mrs. N. Belanger OF
Maiden and Oscar Stephen s Of Magin-
mis- for about 1871, 600, the Bank OF
Fergus County, under whose mort
gage twas sold, realizing full amount
of their claims. This season F. L.
Wright, who has all along had great
faith In the value of the property, sc.
cured an option of redemption from
Mr.. Bright and when the horizon
seemed darkest his faith was un.
shaken until in the deal just made he
has undoubtedly cleared Il heavy
margin for himself as well as doing
the mining interest of this county u
great good, for constant failures In
the spotted Horse. a mine OF such
wide reputation and about which
so many exaggerated stories have
been spread, injured an investment o.
capital i'm other valuable properties
OF the purchase price, about $40, OOt
will be necessary to redeem the prop
erty from the hands Of Mrs. BelaDgel
and Mr.. Stephens and the balance o
$l75. 600 IL divided among Mr.. Bright,
Mr.. Wright Of the New Year, Mr.
Wright of the bank, Mr.. Bird and
Mccormick & Co.
The purchasers have unlimited
capital and have been altogethersu sue
ceasful i'm previous purchases. Mr.
Bird Is now at the mine and vii
devote hisentire at%tentionthis winter
to development work. The coinpan,
Will not manifest undue haste in
building a new mill, prcferring Il
thoroughly explore and develop tn,
property and get a large amount -
fine ore On hand before dividing thei,
attention.