The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-10-29
SOUTH DAKOTA
NEW men AT HEAD
Important Changes Made in the
Management Of the Horseshoe
Mining Company.
Production Of the Homestake for
1908 Will Exceed Five Mil
lions Of Dollars.
Special to The Journal.

p Deadweod, s. D.. Oct. ga change in
the presidency of the Horseshoe Mining
company has taken place, and also in the
board Of directors. These are due, 1t is
learned from an authoritative source, to
the failure of the company to meet the
payment of bond interest on Oct.1 The
interest has since been paid.
1t has been" known for the last few days
that matters of an important character
regarding the control Of this property
were being discussed by the board of di-
rectors, which was meeting in Pittsburg.
From there the board adjourned to Chi
cago, where the final REIMBURSEMENT was
made and the new officers and directors
have assumed control of the property.
There have been two new directors APP
pointed-E. P. Sproul and A. M Cavitt,
both of Pittsburg. The officers are, Pres
ident, E. B. Alsop; first vice president,
Mark w. Watson; second vice president
and general manager, W. /. Mclaughlin,
DeadWood secretary and treasurer, r. H.
Blnns. The plans, as arranged, call for
the closing of the New York and Chicago
offices, the main office being transferred
to :Pittsburg. A mine office will be main
tanned at Deadwood. - - Z.
The change of management at this
point Of the company's operations viii
come as surprise to many, who had ex-
pected the former president, E. M. Hol.
brook, to bring the company to,a sue
cessful ISSUE: Funds were recently needed
to meet some pressing obligations, but
could not be secured. This virtually com:
PEELED those who had advanced a large
portion of the money heretofore required
to- make further advances, but in turn
they demanded control Of the company S
operations. =" '.-~' s,.,.s ~ :. N. 70.
The work at the property will so on as
before, the management at the mines re-
manning unchanged. The new sixty stamr
Terry G inc rae r11 ~
while the first clean -up was not sa,tisfac-
tory, due to the new tanks, reports from
the mines indicate that the second cleanup
has been close to what it was expected
the sixty, stamps would produce. The
other sixty stamps which are being built
at the mill will be ready before the first
of the new year.. =. ..* a1>. e: s.~s.. .
E.. F. WoodWorth is the new general
manager of the Lexington Hill Gold Min
ing company. Mr.. Woodwork has arrived
from Denver and will make his ,headquar-
ters in Deadwood, altho he will not move
his family from Denver until next sum-
mer. He succeeds T. r. Cornforth in
charge of the Lexington Hill company
operations, as Mr. Cornforth's extensive
interests in Colorado made it impossible
for him to give the ,company's affairs the
attention. they needed. Mr.. Cornforth is
still heavy stocI1-holderins the company
and one of the directors - 49, ,o.5
Mr.. Woodwork is a well-known mining
man in Colorado and the southwestern
states and territories, where he has put
in thirty five years of his life in field
work. The change in managers does not
involve any change in mill foreman. and
B. C. Cook continues in charge 49,
The lexington Hill coma any is having
eminent success in its operations and is
planning to extent them as rapidly as
practicable Another cleanup was made
at the cyanide plant in Spruce gulch
Thursday, of this week and a handsome
bar. Of bullion was obtained weighing
upwards of $50 ounces. It is asserted that
this was the best cleanup the company
has ever had. The mill is, running at the
rate of from ninety to one hundred tons
of ore thru per day and doing it with as
tonisling ease. ~ = :, t,s,sf1 s-y~,-.,z.