The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-02-05
FAMOUS OLD i.
CORPORATION
VENTURE OF LONDON ABOUT TO
ENTER THE HILLS.
Deal for the Wasp, No. 2, Alder Creek
and Other Properties Soon to Be
Ciosed-An Investment OF Half
Million, of Which the Wasp Com
pany Will Receive Half.
Special to The Journal.

Special to The Journal,
Lead, S. D.. Feb. 5.-One Of the largest
and most important mining deals to be ne
gotiated in the Black Hills in recent years
is drawing to a close on Yellow Creek.
The deal involves the Wasp No. 2, Alder
Greek and adjacent properties, making
an area of about 400 acres. The prices
at which the properties have been bonded
aggregate about half million dollars, of
which the Wasp No. 2 company will re-
ceive half.
The famous Venture corporation of Lon
don England is the intended purchaser.
according to reliable authority. This is
the company that purchased StrattOns
Independence mine in Cripple Creek. and
Thomas f. Walshs Camp Bird mine In
the San Juan country of Colorado, a few
years ago. 1t is one of the most extensive
mining operators III the world. and holds
valuable properties in all quarters Of the
globe. It's advent into the mining field Of
South Dakota would be of great moment
to this region.
The negotiations were entered upon
some months ago, the properties having
been assembled by w. r. Dickinson of
Lead, by whom they were called, TO the
attention Of mining men Of Colorado, and
thru them to the London corporation.
Nick Treweek, who was for years mine
foreman for the Homestake Mining COM
pany. re-entered its employ this week and
Is in charge Of work at the Washington
tunnel towards the northerly end of the
property.
TERRY, S. D.--The shaft started by the
Dakota Mining and Milling company to
explore quartzite has reached a depth of
100 feet. About seventy-five men are in
the company's employ. The last cleanup
81 the cyanide plant in Deadwood. the
second since tho mill was started on its
present run. was made Jan. q, and result
ed in about $4,000 in bullion. showing an
extraction for the run at approximately
80 per cent of the values.
The Spearfsh Gold Mining and Reduc-
tion company has finished the installation
Of new machinery at the mine and mill
and is extending it's railroad system to its
new ore discoveries. Dividends have beer
passed for January and February owing
to the large expense involved, but are
expected to be resumed In March
The Deadwood- Standard company Is
cunning a direct tunnel by which the Cost
Of conveying ore from the mine to the mil
will be greatly reduced, in addition to the
greater dispatch obtained. The ore In thu
past has been hauled by wagon. >Upo1
the completion Of the new tunnel It will
be delivered by tram.
ROUBATX, S. D.--The Clover Leaf com
pany's mill Is running with great regular
fty, dropping forty stamps and cleaning w
every two weeks. About $4,000 In golt
puillon Is pTouuCeu lloIltIly. Ing ore IL
opening up. more extensively and the
showing improves with each round. 10
blasts. Twenty stamps are still idle in tn
mill, but they are expected to be let dow
The coming spring OF summer.
DEADWOOD S. D.---Chares F. Giesle1
who resigned as master mechanic Of tn
Penobscot company at Maitland. has be
come master mechanic for the Horsesho
Mining company at Terry.
George Moore, inventor Of the Moor
process for the treatment of shines, is i
the Hills and Is conducting an interestin
series of experiments at the Homestake.