The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1901-07-25
BLACK HILLS MINING.
Interesting BITS of News AbOut This
Great Industry.

The Homestake company has paid
over SO 900. 600 in dividends up to date.
Its output is now over 100000 per
month, and the monthly dividend Is
$3.50, 000 on capitalization of S2l00Oooo.
| This is about per cent interest. Ii Is
rumored in Lead that the Homestake
dividends will be increased this fall, ana
local holders of stock are expecting 10
see it go up to 5000 per share very soon.
The Black Hills was honored by the
| presence OF a member of the board or
| commerce Of New York city during the
| quarto-centennial carnival. He stated
| to your correspondent that the Black
Hills Is attracting a great deal OF at
| tention at present in New York city.
! The Hcmestake mine is better known
by financiers of the East than by
| good many of the residents or Lead.
An investment that will pay per cent,
| year after year, is getting to be diff1-
| cult to find. But when the Homestake
doubles it's dividends. making the inter-
| est on the entire capitalization from 10
| to IL per cent, there viii be a rush for
Homestake stock. There are men in the
Hills who own Homestake stock that
cost them not more than s12 20 SIS 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
20 cents per share, the par value being
81 per share. II. j. Mayham of Denver.
the promoter of the company, has
placed the stock of his company with
Iowa, Ohio and New York people. 1t Ia
predicted that the stock Will double Its
par value before the company is year
old. Otto Grantz. 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-
larly turning out bullion, and the rich
est ore in the Hills is being taken out
of the Harrison mine, on the southern
end of the Hidden Fortune company's
estate.
o B. Amsden Of Colorado Springs, the
general manager of the Black Hills Belt
Development company, which is devel-
oping the property Immediately south
OF the Homestake mine, has returned
| to Lead, having had conference with
the Crosby Enrich syndicate of Colora-
do Springs. who are promoting the COM
pany. The shaft on the property IS
ROW down about $50 feet, and there are
/ i1,tiication that the Homestake ore
/ lode. foT which the company is looking.
is not very far away. There is a
| change in the formation in the bottom
of the shaft, and it is now expected that
a good grade of free-milling Ger will be
encountered at any time. 1t has been
I hot hn
Homestake ore would not be found less
| thar 900 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. II 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
mining country has seen. The Hidden
| Fortune company has already disclosed
| several millions of ore, which Is acting
! as a stimulus to other investors.
A unique discovery of gold has been
| made at the Half Way house, four
| miles north of Lead, In a limestone
| formation. Two men were digging
| well, when they struck ore at a depth
| Of about eighty feet Further develop
| ment with a cross-cut tunnel opened up
| large ledge of gold ore that will make
| a mine. That district has always been
supposed to be outside of the mineral
| ized belt. 1t has started considerable
| prospecting in that vicinity. The form
| alton is not unlike that of the Ragged
| Top district, in which the gold ore was
| there four years ago.
| The Highland Chief company has be-
! gun repairing it's stamp mill In Spruce
/ gulch. east of Lead. A cyanide annex
| is to be installed, and the mine will be
| worked on the same plan as the Home
| stake. There is a large body of free
milling and concentrating ore.
| The final papers have been made out
! by which w. o. Morrison of Colorado
/ Springs and associates ecome the own
| ers of the large mining estate of Ed
Hanschka of Deadwood, located In the
Ragged Top district. adjoining the
| property OF the Spearfish Mining COM
pany. 1t is stated that the agreement
on the sale is that $4,000 is to be paid
for the property. Hanschka then puts
| up $4,000 against the same amount
from the purchasing parties, for the
| purpose Of putting up large cyanide
| plant or. the ground. Hanschka Ia to
| have a ralf-interest in the mill and
| ground. There are large ore measures
| on the property that show fine grade
| of cyaniding ore. 1t Is estimated that
| 200 tons Of ore can be 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-