Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1901-07-25
LAC HILLS MINING.
I~ntere.tfpg Bits of Jews Abouf THIS
Great Industry.

month, and the monthly dlNiuehu 20
$3.50. 900. on a capitalization OF sZlVoo'VV..
This is about 6 per cent interest,", -
rumored in Lead that the Hoines'ahs
dividends will be increased TINS iali' LIZ
local holders of stock are expecuihs "
see II 20 UP to $500 per share very sooh.
This Black Hills was honored Dy the
presence of a member OF the poaru VI
| of New York city during the
ouarto-centennial carnival. He stated
to your correspondent that the blach
Hills is attracting a great deal Oh at
tentioI at present in New YORK CITY
The Hcmestake mine is better known
by fnanciers of the East man py d
good many OF the residents or Lead.
An investment that will pay 6 per cent,
year after year, is getting TO De ailh-
cult to find. But when the Homestahe
doubles it's dividends, making the inter-
est on the entire capitalization from Nv
TO ~ per cent. there will be a rush lor
Homestaks stock. There are men IN lHe
Hills who own Homestake stock that
| cost them not more than Sl2 10 $40 per
share.
The Hidden Fortune company, which.
owns 325 acres Of land Immediately
north of the Homestake mine, on the
same trend of ore. is selling its stock at
"a cents per share, the par value being
81 per share. II. j. Mayham OF Denver,
the promoter Of the company, mas
placed the stock of his company with
Iowa, Ohio and New York people. 1t Is
predicted that the stock viii double its
par value before the company is a year
old. Otto Grant,. one of the former
owners of the ground. has piled up w.
600 worth of ore In the past two months
with the assistance of two men. 1t Is
from the spot that produced so much
rich ore two years ago.
The cyanide plant on the Golden
Crown mine, also in the deal, Is regu-
larry turning out bullion, and the rich
est ore in the Hills is being taken u
of the Harrison mine. on the southern
end of the Hidden Fortune companys
estate.
O b. Amsden of Colorado Springs. the
! general anage of the Black Hills Belt
| Development company, which is deVel-
oring the property Immediately south
of the Homestuke mine, has returned
to Lead, having had a conference with
the Crosby Enrich syndicate of Colora-
do Springs, who are promoting the com
/ pany. The shaft on the property -
now down about $50 feet, and there are
Indications that the Homestake ore
lode. for which the company is looking.
IS not very far away. There is a
change in the formation in the bottom
of the shaft, and 1t - now expected mat
a good grade of free-milling Ger will be
encountered at any time. 1t has oeen
held by some old miners that the
Homestake ore would not be found less
| thar 1000 feet from the surface, but
Mr.. Amsden believes that 1t Is 800 and
400 feet deep. The diamond drill has
arrived, and will be used for exploiting
the ground in other places.
These two Colorado companies are be-
ing watched with great expectations by
capitalists, both large and small, in the
Eastern states. IL they succeed, which
will be definitely known in a very short
time, there is sure to be an awakening
in Colorado and in the East for Black
Hills mining stock, such as no other
miring country has seen. h Hidden
Fortune company has already disclosed
several millions of ore. which is acting
as a stimulus to other investors.
w, B.. Milliken, the millwright or
Denver, has arrived at Lead. for the
purpose of building the new 100-ton cy-
anide plant for the Imperial Mining
company of Deadwood. The site chos-
en- is in the First ward. near the Golden
Reward and Dakota companies plants,
and 1t will be in operation within ninety
days. The ore will come from the I'M
perial mines, in the Blacktail district, a
short distance north of Lead. The plant
was designed by the Denver
The Spearfish Mining company dis
posed of 5000 shares of stock in settling
up the estate of the late Hiram w. ELL
linton, who was one of the former own
ers of the company's ground. The stock
was bid in by ]. p. Hyrner of Dead
wood, for 20 and 35 cents per share.
The company is enlarging it's tank ca
pacity at the 2e0-ton cyanide plant, in
the Ragged Top district.
The Highland Chief company has be-
gun repairing its stamp mill In Spruce
gulch, east OF Lead. A cyanide annex
is to be installed, and the mine will ba
worked on the same plan as the Home
stake. There is a large body of FREQ
milling and concentrating ore.
The final papers have been made out
by which w. o. Morrison of Colorado
Springs and associates tecome the own
ers of the large mining estate of Ed
Hanschka of Deadwood, located in the
Ragged Top district. adjoining the
property OF the Spear1sh Mining COM
pany. II is stated that the agreement
on the sale is that $500 0 is to be paid
for the property. Hanschka then puts
up S25, 900 against the same amount
from the purchasing parties, for the
purpose or putting up a large cyanide
plant or the ground. Hanschka Is to
have q ralf-interest in the mill and
ground. There are large ore measures
Or the property hat show a fine grade
of cyaniding ore. 1t Is estimated that
200 tons of ore can b. broken per day
for twenty-five years. 1t Is said that
work will be commenced on the new cy-
anide plant Immediately.
II. III. Armstead of New York city,
general manager OF the Galena SmeIt-
Ing and Mining company. will arrive in
Lead next week. He will, 1t is report
ed, institute still more extensive mining
operations in the Galena district, where
are situated several thousand acres that
are being developed by the company.
This is the company that was organized
by Francis Grabel II being nearly brok-