The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-02

the directors Of the company to-day.
while the American Smelling and Refining
Company is a precious-metal propositioh-
THE scheme OF combining various COM
solidation and then allowing 1t to be oper-
ated by another company ts a novel 1ns:
In the present instance. the capitanssts
owning the most valuable lead properties In
the southeastern part of Missouri have
agreed TO pool their holdings into one COM
pany which will be given corporate FORM
In the course of a few weeks.
This company does not. as Is usually tns
case. become the operating company. but
will transfer the right to the Gp mnw mem
ssn and n domestic capitali.ts It IS con-
family fa1fS X Kuhn. e% Loeb Co. W. e Whit
ney and Partisan and London stockhoiders:
Recently the continued purchases Of lead
district in Missouri has excited comment.
The passage of a check for 81 100000 drawn
by the Morton Trust Company to the Union
Trust Company Of st. Louis, as was stated
in to-day's Republic. gave some confirma.
tion of the numerous rurnors that deal
Vas in progfess t Was stated II sSp1ana
drawn for the purpose Of buying the prop
erty Of prominent lead land owner"
RAPID DEVELOPMENT
OF THE LEAD BELT.
The consolidation of the interests controf-
ling the Missouri lead fields has suddenly
awakened new and deep interest In the
ST. Louis on the condition Of the Missouri
"The product is what call very good.
fields will likely be long-lived: in fact.
there IS every evidence that they win be.
These fields have just commenced to pro
duce. Ten years from now the production
will be many times greater than now"
DEVELOPMENT Of the lead fields has been
"a rapid In the last few years. The fields Of
greater area of paying fields in Southeast
bordering this district which show great
promise. but very little work has been done
in them. y
In the st. Francois fields there ara now
operating the National Lead Company. tho.
St. Joe Lead Company, the Desloge Consol-
dated Lead Company, the Columbia Lead
Doe Run Lead Company, the Derby Lead
Company, the Federal Lead Company. the
u1ion Lead Company and the Catherine
er concerns. almost all Of Which sS s are owned
or controlled by the companies mentioned.
Almost all OF these have been. up TO the
critics. what n IS known as s5e union Lead
and Oil Company is chartered under tho
laws of New Jersey; the other companies
are almost all chartered under the laws OF
Missouri.
CONTINUOUS ORE AND =
DISSEMINATED FIELDS.
The developed lead district runs from tho
northwest to the southeast through 81.
Francois County. These lead fields, to be
distinguished from the fields containinD
continuous veins Of ore. are called 1issem-
mated fields. the ore being scattered in de-
posits through the earth In an easily trace
able line. The fields of st. Francois County
are the largest disseminated fields of lead
ore In the world. The various mills in oper-
alton in this district have capacity Of
from 300 to 900 tons a day.
The ore In the st. Francois district ~
what is called low-grade ore, running from
$50 to 500 feet below the surface. The veins
lie in horizontal strata, varying IN Thick
ness from 10 to 100 feet. =.
WHAT 1T COSTS Its
TO EQUIP A DRILL.
These lead fields, II is said. offer no en-
couragement to men without money. The
ore being 50 far bslow the sn u,s r. Is
sibility OF missing it
The drilling must be done With dlamonds
set in the bit These "a diamonds are called hs
are so hard that eight or ten holes can be
drilled with them II they. are not lost or
broken out They cost s about sna sm
The stocks of the companies operating IN
this district are all aooye par Tine S tis
year will be about $500 tons q pig -.
while tho total production in this country
probably will be seven or eight times tnat
what is commonly known a. the Fiat
River district comprises a territory GOV.
erine a radius Of about ten miles from The
town Of Flat River, which IL seven miles
south of Bonnie Terre. The land. wnsn
available for agricultural purposes, brlngs
about $40, and when timbered IL b worth
less. It Is commonly rough and hllly, lying
In the spurs of the Ozark Mountains
All the mines have water in thems an6
II is said that the successful mines lin. -
a rule. ten tons Of water to one ton Of
rock. -.