The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-01-22
HALF MILLION
DOLLAR DEAL
WASP NO. q AND ALDER CREEK
COMPANIES MAY SELL.
Under Bonds to Capitalists of Denver
and Other Cities Who Have Until
Feb. 1 to Take Them Up-Four
Hundred Acres and Two Cyanide
Plants-Abundance of Low-Grade
Ore.
Special TO The Journal.

6pooA1l " Auo VVuxu81s
Lead. s. D., Jan. 22.-One OF the largest
and most important mining transactions
known in the Hills of late years Is about
to be closed on Yellow Creek. south OF
Lead. 1t involves the transfer OF the
properties of the Wasp No. 2 and Alder
Creek companies, both OF which nave.
cyanide plants and about 400 acres to-,
gether. The negotiations were started
several months ago by w. r: Dickinson
Of Lead, who interested Denver and other
capitalists. The considerations named IN
the various bonds are said to aggregate
100000. OF this, the Wasp No. 2 COM
pany will likely receive some $250,0O0.
The bonds have until Feb. to run and
the persons holding them have announced
their determination to take them up. Ex-
perts have been engaged for several
months making examinations
The Wasp No. 2 company is the owner
Of a cyanide plant of 1875 tons daily capa-
city. The principals Of the COM.
pany are John Gray Of Terraville, D. A.
Mcpherson and w. L. Mclaughlin OF
Deadwood and John Blatchford Of Terry.
The Alder Creek company came to the
Black Hills from California. 1t was or
ganized for operation in California and
was induced to come to tina Hills by the
favorable ore showings on the Little Blue.
Pansy and associate claims, adjoining the
property of the Wasp No. 2. A cyanide
pldNL having b. CdpdCity VI 1tioio Iiioh
sixty tons a day was built and for sew
eral months that it was running Its earn
ings were entirely satisfactory. The for
nation Of the Alder Creek territory is
Identical with that on the Wasp No. 2.
This plant has been idle several months
pending the result of the negotiations.
The management Of the Wasp No. re-
fused to close it's plant, announcing to the
contemplated purchasers that IL they
wanted the property they might have It
at the price stated. .--
/ It Is the intention of the purchasers to
operate these various properties under one
management and on a, large scale. =: BY
the consolidation it will be possible to
work them more economically. The ore Is
low grade in character but exists in guam
titles almost too great for computation,
DEADWOOD, s. D.--The Queen Of the
| Hills Gold Mining company has most Of
the lumber and other material on the
ground for the new shaft house and the
new eighty-five horse power boiler has
just been delivered. A large house will
be built over the shaft and a complete
| hoisting and pumping plant installed. The
president Of the company Is expected: to
arrive this week from Des Moines.
Several Deadwood men lately visited
the property and were impressed with
the excellent showing in ore. In the
tunnel there is sixteen foot body Of
quartz ore, interstratified with slate from
which many specimens have been taken
showing free gold, THE eompany's prop
erty Hes along Whistler gulch, almost due
south of Deadwood, and, runs within a.
short distance Of the Kildonian mill of
the Horseshoe company at Puma. -