Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1903-02-04

More About the BE Deal.
representative Of Finch a
Campbell, the spokane millionaires
who control the bulk Of the stock Of
the Kendall Gold Mining Co, operating
the famous Kendall mine at Kendall
is now In the city, negotiating . deal
for the consolidation rof all the mors
important mining properties in thai
region. The deal for the Kendall and
Barnes-King properties Is practically
closed and the negotiations pending
are for the claims bonded last fall by
LIS. Woodbury. of this city, for the
Abby and other smaller properties.
John w. Gates and John A. Drake
of Chicago, the "plungersy Who re
Gently bought the mines at Gilt Edge
are the men seeking to make the pur'
chase, and while the consideration in,
volved is not exactly known. it is I'M
derstood 70 seEseyersi AlliOnsrof dol.
lars -
Since the Kendall, has been paying
dividends, the payments have been at
the rate of ss3 900 per month, which
would give the properties a value, on
q 10 per cent basis, Of about $4,000, 900,
and this is considered a fair basis up
on which to figure the value of mining
properties.
The profits of the Barnes-king prop
critics have lever been made public,
but they have made very wealthy men
Of r. w. King, formerly Of this city,
and his associates, and the understand
ing 10 that It Is the intention Of those
who will buy the property to increase
the capacity Of the ~Barnes-king mill
to 500 tons per day. AT that rate Of
production, the property, 1t is known.
would yield q profit OF $ss, 900 per
month, figuring on a basis Of s2.70 net
per ton, and there is some reason to
belisye that the net yield is now more
than that.
The fret payment upon the Kendall
and Barnes-King mines has been condi-
tionaliy made. And 1t 1s expected that
announcement of the FULL details of
the deal will be made in a short time.
MI. King will ~therssfter devote his
entire attention To the mining proper
ties he recsntly secured in the Mttls
Rockies, upon which he is pushing de.
velopment ana erecting a cyanide
plantTGreat Falls Tribune. =
UU.UUUs..
Millions Are In Sight
The Kendall mine, which is part Of
the property here under bond to q pow.
erful eastern syndicate for several mil
lion dollars, has blocked out, ready for
milling, nearly, If not fully. One mil
lion tons Of r
o This is not the guess-work statement
of an enthusiast with q passion for big
figures, but the careful estimate; Of; .
conservative man-H.s H.. Lang, the
superintendent Of the property. start
ling o. seems the estimate at FIRST
glance. the figures evidently harmo-
nize with the actual existing facts as
revealed upon an inspection Of the
property. On the main tunnel level
an idea may be gained Of the stupen-
dous ore body that has already been
opened up in the mine. This tunnel
runs along into the ore measures at
great length, and on every hand are
evidences of the exact nature of the
ore deposits. The extraction of hun
dreds Of tons of ore has left great
chambers that are heavily timbered.
As fast rs the ore is broken down and
hauled away the huge sets of timbers
are put In place, till here and there the
interior of the mine resembles a forest
of trees denuded Of their foliage. On
this tunnel level the vein 10 140 feet
wide. to deal In rough figures. and It
is all milling ore, Below this level the
development work has shown It to be