Fergus County argus., 1905-10-31
GETS CONTROL
OF TOWNSHIP
Big Deal in This We'll Known Kendall
Property, Involving Nearly Two
Hundred Thousand Dollars.
Confident That Ore Will be Found on
the Fergus Tract-Raiway Line
to Kendall.

John A. Drake came in from Ken.
dali Saturday, and after spending the
night in the city, left Sunday with Mrs.
Drake for Gilt Edge. 1t is understood
that Mr.. and Mrs. Drake will spend
some time at Gilt Edge and Lewis
town, but the millionaire is going to
visit Butte soon, and may come in
from the home Of the Gold Reef today.
1t was his plan when he left here Sum-
day to return to Lewistown and Gilt
Edge after his trip to Butte, and so
far as known there has been no change
Purchase Of the Townsite.
While Mr.. Drake was at Kendall
deal was cOnsummated whereby the
control of the Cyanide Gold Mining
company was taken over by the Chi
cago Exploration company, a newly or
ganized concern in which Alan L. Reid,
VIM. Duff Hyne and A. S. Wright, of
Chicago; II. NJ. Rae, Of Gilt Edge, ana
N. j. LittlejOhn. of Lewistown, are d.
rectors. This company is capitalized
at million and a half. represented by
shares of the par value of 81 each.
The company is organized to carry
on a general mining and milling busi-
ness. and 1t is supposed that Mr.. Rae
represents Mr.. Drake on the directory.
The general understanding is that the
millionaire is back of the new concern,
and that the purchase of the Cyanide
company was made for him. The deal
involved 100000 shares of the capital
stock, which was sold on basis of 80
cents a share the total amounting to
$4,000. OF this stock 100000 shares
were treasury, the other 100000 being
added by John r. Cook, the leading
spirit in the Cyanide company, W. A.
Shaules and other stockholders. The
Cyanide company was organized last
month by Messrs. Cook, Shaules and
Filing Johnson. The new company
took over the holdings of the Kendall
Townsite company, which included the
underground rights Of the entire town
site and great majority of the lots
entire. This gave the Cyanide COM
pany an acreage of about 279 acres.
brakes North Moccasin.
The North Moccasin property, own
ed by Mr.. Drake, Frank r. Wright,
Senator John d. Waite and some 9TH
ers, lies between the Barnes-King and
the Kendall and comes right down to
the townsite. BY acquiring the latter
property, Mr.. Drake would have an
empire of ground right in the heart of
the richest ore producing part of the
Kendall district. It was generally re-
ported yesterday that Mr. Drake plan
ned, in connection with his big Ken.
dali holdings, to build the long pro-
jected railway from this city to the
gold camp, a distance of IS miles.
John l.. Bright, it will be remember
ed, some time ago completed the sur
veys for such line, and compiled all
the necessary data as to tonnage, etc.
His estimates on the cost of the steel
were too low, as it subsequently prov
! ed, and he let the matter drop. Ac.
cording to the current report, Mr.
Drake will have as associates in the
railway enterprise. should he under
take it, some of the leading men in the
| United States Steel company
The Fergus Tract.
Work on the Fergus tract is pro
crossing steadily, Mr. Drake states
positively that the ore has not been
struck thus dispelling the rumors to
the effect that the blanket vein has
been found there. He says. however,
that the drill holes show the forma.
tions all in place and not at all brok.
en- up, as was feared might be the
case. The drill is now going through
a sediment formation, identical with
that found over the ore body in the
Bullard and other developed proper.
ties. II would seem to be only q
question of short time when the
ore must be encountered, and Mr.
Drake is quite enthusiastic over the
outlook at the Fergus. He is careful
however to make it clear that the ore
has not yet been found in order to
prevent anyone from being misled.