Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-08-11
TIDY INCOMES FROM MINES.
"HOmestnke" Produces S65 900. 900 in
Gold in Twenty-Three Years.

"HOmestnke" Produces SOS. 100000 in
Gold I'm Twenty-Three Years.
William Elroy Curtis In Chicago Record.
LEAD CITY, S. D., July ga mine that
has produced sos. O0O. 900 in gold in twenty
three years, and has sos. 900. 900 in sight. is
worthy of consideration. even If the ore
sometimes does not assay more than $40
to the ton. The Homestake mine Of this
city has paid over 5000 900 in dividends to
its owners. 1t represents $16,O00,0O0 in
property and improvements. and since 1t
was first opened over S40.OOO.OOO has been
paid for labor in its development and oper-
alton 1t is not single mine, but number
of mines all on the same hill and the same
lead A solid body of ore $50 feet in width
and of indefinite length has already been
uncovered above the S00-foot level. and. ac-
cording to the estimates of the engineers,
Is sufficient to keep all of the mills en-
ployed for twenty years. The present ca
pacity of the mills is $500 tons day which
means 1,6s2,D0 tons a year and ~, 4iO,OOO in
twenty years, and it is estimated that the
latter quantity is in sight at present
A new plant for the reduction of ores by
the cyanide process is now under construc-
ton. with capacity of l. 900 tons day. 1t
will be the largest in the world. and will be
kept busy for several years working over
the dump-the waste ore that could not be
profitaby handled under the other pro-
cesses. From this waste alone 1t is expect
ed that several million dollars will be re-
covered.
The number of men employed by the
Homestake company in every department
the mine. the mills the railroad. the water
works. etc.-!s 1900. The pay roll will
average S2GO,0 600 a month
The mine supports Lead, a city of 1900
inhabitants, the metropolis of the Black
Hills, where the entire population is either
directly or indirectly employed by the COM
pany. The Homestake mine is Lead Lead
is re Homestake mine. The city is spread
over the mountains from which the gold is
produced.
The Homestake mine was located early
in the history of the hills by Fred and
Moses Manuel "Old Abe" one of the ad-
joining mines. was located in 1877 by J. b.
Pearson and sold to IL. b. Young for $500.
Several of the other mines on the hill were
sod for similar sums. In 1877 George
Hearst, afterward senator from California:
J. b. Haggin and Lloyd fevis of that state
came in here and bought up several of the
claims upon the hill, and kept buying until
they had everything in the ne;ghborhood.
the original capital Of the company was
81 'hOuo and it is now S2l 900 900. upon
which it pays more than II per cent a year.
The first machinery for the mine was
hauled from Cheyenne. a distance of 20
miles, in the winter of 1s11-'1S, and while
the caravan was on its way across the
plains 1t was overtaken by one of the worst
snow storms ever known in this country.
Several OF the men and all but nine of the
oxen persisted.
Mrs. Phoebe A. Hearst has Inherited her
husbands interest. which was one-third of
the property, and the remainder still belongs
to the original owners. This makes her one
of the richest women in the world. She re-
ceiNes dividends of over SS00OoO a year on
her stock in this mine alone
L understand that Mrs Hearst has re-
Gently made large sum of money in a
New Mexico deal Several years ago she
bought ali of the silver mines In what is
known the Pinos Altos district of New
Mexico, and an old smeter built by FlapIer
at Silver city. The property had bad
name, the district was almost deserted. and
the price was very low. She has since been
working the mines with great success. She
mas Increased the capacity of the smelter
three times until it is now as large as any
In the United States. and l am Informed
that a Kansas City syndicate has bought
her entire interest within the last two
weeks at a price that gives her a profit of
more than 81. 00U, 900
L am told also that she has recently sold
her mines In what is known as the Hanover
district OF New Mexico to a Boston COM
pany at profit of over S2OOOOO
Much of the success of the Homestake
mine Is due to the management of Thomas
J. Grler, a Canadian in the neighborhood
of fifty years old. and an old telegraph
operator who worked for the Western
Union company at Salt Lake and other
western points until he came to Deadwood
in 1873 as operator for the Homestake conn
pany. 1t was soon discovered that his
talents were too great to be wasted AT a
te.eSfaph instrument, SO he was promoted
from time to time until the whole business
or The HomeStake company was intrusted
to his hands fifteen years ago. Since then
he has been the responsible man of the
company, whose word is law in Lead fi+T
and in the outlying district. He has maSa
many improvements in mining and milling
anu many important discoveries of which
the world has enjoyed the benefit