Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1901-02-09
New Tin Company.

this year, says the Pioneer-Tmes Of re
cent date. The Niagara Tin Smelling
company of New York City, is an organ
ization recently formed on the ground
and it is expected to commence active
operations as soon as the spring season
opens. The company is capitalized al
81 100000, divided into l00,0 900 shares OF
stock, $4,000 Of which is preferred and
10000 cumulative, Of the par value OF
$40, fully paid and non- -assessable. The
company is composed of some of the
strongest men in the country, the off,
GERS and directors being: Robert Avery,
lawyer, retired major.general United
States army, president; Allen g. Mac.
Donell. investment securities. vice
president; James Gilfllan, ex-treasurer
United States depository. treasurer and
Aquila ". Wanamaker. secretary. The
company's prospectus says in part:
"The company is formed to produce a
metal not heretofore made in America,
"Metalic Tin," of which 7l,248,4 ,407
pounds were last year imported the gross
value of which was $l6,746ll7. The
company will mine the valuable tin de-
posits owned by it on Bear gulch, seven
miles from Iron creek station on the
Burlington & Missouri River r. r..
which road will probably in time be ex-
tended through the company's property {;
the company will erect custom concen-
trating plants in the Hills, and smelling
and reduction works at Niagara Falls for
the treatment Of tin ores generally,
either those owned by the company or
by others, and for the manufacture of
babbits, solder and alloys; and for
custom concentrating plants wherever a
sufficient quantity of ore can be obtain
ed.
The property owned by the company
comprises over 80 acres of the richest
deposits known to exist in the Hills,
there being reefs of great dimensions,
containing large quantities of black
oxide Of tin, than which there is none
better or purer in the world. At the
lowest price of tin for the past ten years,
this ore will pay we'll. But at its price
during the past two years the Profits
will be much greater than those of the
best average Of copper or gold mines.
In an article Franklin r. Carpenter,
NJ. d., M. f., when principal Of the
School of Mines, perhaps the greatest
authority on the geology and mineral
resources of the Black Hills, says: "To
the ever recurring question, lis there
tin in paying quantities in the Black
Hills? wish to answer a most COM
plete emphatic yes" Referring to Bear
Gulch, where the companys property is
situated, he in part says; II have
broken specimens for hours in the vain
search to find some part ofthe vein that
did not carry tin. only mention this
to show how thoroughly disseminated it
is in some deposits, and one which re-
call is comparable for size to the great
Homestake mine, and in my opinion is
alone capable OF employing as many
men. 1t is my opinion, further, that
this tin district, properly worked, is cap
able Of supplying all the tin used In the
United States, but it must be worked in
some such system and scale as the Home.
stake or Calumet and Hecla. Great as
is the development of the gold mining
there it will be exceeded by tin and
iron, metals Just as useful if not quite SO
noble"
The company's initial concentrating
plant at its mines will have a daily ca.
pacity of $50 tons of ore, from which
eight to ten tons of high grade concen'
trates (55 to 60 per cent metallic TIM will
be produced and shipped to its Electric
Smelling Works to be erected at Niagars
Falls, where the electric power will bt
supplied by the Niagara Falls Power Co.
and where the company has secured 9
most desirable site for its plant. The
N. Y. c. & II. r. r. will run tract di
rect to the company works and in New
York there is market for everything
the company produces.
The production Of tin is one of thu
few industries that shows a steady in
crease in price, diminishing supply
and an increasing demand. q
The worlds production of tin is stead
lily decreasing as the old mines are sunk
deeper; it was 10000 long tons less las
year than it was FIVE years ago. The
United States consumption increased
from 100000 pounds in 1894 to II 900,
600 pounds in 1899, while the price has
advanced from thirteen cents in 1897 t.
twenty eight cents in 1900.