Fergus County Democrat. [volume] (Lewistown, Mont.) 1904-1919, 1907-01-15
Butte Parties Arranging to float
the Stock of the Barnes-Kino
Extension Company.
MONEY FOR LOCAL MINING MEN
Dr.. ". A. Long, 6. B. Stuart, Jim
Burr, George Crawford, Hamilton
and Stafford Lucky

The latter part of December, severa
local men who owned five mining
claims which are located lust north O,
the Barnes King property bonded theil
claims to Butte parties for 100000. A
dispatch from Butte to the Democra,
announces that the men who took the
option are going to take over the prop
erty, the work of forming a new CON-
pany having already been accomplish
! ed.
The men who will receive the $780,
j 900 are Dr. w. A. Long of this city, J.
D. Burr, G. B. Stuart, George Craw-
ford, Bob Hamilton and T. NJ Matlock,
all Of Kendall. They have owned the
property for several years and consid-
| cradle work has been done in develop
| ing the ground
| The Anaconda Standard of Sunday
contains the following statement of the
| intention of the gentlemen who have
taken the option:
| Although not yet announced offici-
ally, Ut is reported on good authority
that the Barnes King Extension Gold
Mining company will be launched in
| Butte within a week and that the cap
italization win be 81 900 900 in shares OF
| 81 each, 100000 of which will remain in
| the treasury permanently. 1t is also
| reported that j. c. Norvell will handle
the subscriptions in Butte and that
the number of shares allotted for this
| city will be less than 100000
| 1t is we'll known that the property
has been secured and that it consists
of five claims in a group adjoining the
property of the Barnes King on the
| north. 1t is said that the north work,
ings of the latter are within 20 feet OF
the south end line of the Extension
company's claims, and that on two OF
the five extensive bodies of gold bear.
ing ore have been opened within the
last week or ten days.
THE new company, it is said, will be
backed by New York. Spokane and
Butte capital, the former influence be-
ing quite heavy in the mining world.
Engineers in Butte and other cities
have examined and reported favorably
upon the property, and it is claimed
that they have stated in their reports
to those who are backing the enter
prise that the group is as good as the
property of the Barnes king.
IN THE NORTH MOCCASINS.
The group is located in the North
Moccasin mountains of Fergus county,
and IT it is as good as the Barnes King,
there is nothing further to be said
about its merits. It is known fact)
that the Barnes King is good, for it
has been paying dividends at the rate
of $12 900 per month on work that ha g
not been considered extensive or up
to date. The new Barnes-King COM
pany is now preparing to spend $780,
900 In improvements ON it's property
and treat from 500 to 1000 tons of ore
a day against an output of 200 tons by
the old company. According to report,
there is in the workings of the Barnes
King at present enough ore in sight to
last ten years at the rate Of 500 or 1000
tons day. and the possibilities for
keeping this quantity opened in ad-
vance are splendid. for the property is |
only partly developed.
Whether the company will build a |
plant having a capacity of 1000 tons a |
day or begin with a 500-ton mill is not |
generally known. but it is known that
it will not be less than 500, and it may
be more.
The Barnes King Extension figures |
that it can raise enough money with |
out touching the 100000 shares of |
treasury stock to open it's group and |
equip it with all necessary devices and |
appliances for separating the gold from
the ore and saving the latter to a high
percentage