Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1909-09-15
GREAT RECORD OF
A PLATTEVILLE MINE
Profits of Empire Never Equalled in
Gold and Copper Mining
in Equal Time.
BY j. H. LEWIS.

BY j. H. LEWIS.
| Platteville, Wis.--The most pheno-
menaI success in the zinc mining
world, if not in all lines of mining
has been developed at Platteville. in
the Empire mine, now the property of
the Wisconsin Zinc company. The
tales of King Midas and Aladdin s
lamp becomes mere food for infants
when brought into comparison with
the wealth producing-power of this
veritable zinc quarry, uncovered with
in the very confines of tho Mound
City as Platteville ia known.
The Empire Mining company was
organized in Platteville in the sum-
sum Of 1908, the capital stock of the
company, consisting of 500 shares of the
pa1 value of $50 each. 1t is needless
to explain that Milwaukee money
played most important role in the
early history of this project and that
some rich dividends were realized by
Milwaukee.
PROFITS $25O,OO0 IN 2 1-2 YEARS.
The first car of milled zinc ore was
shipped June IA, 1904. and during the
years of greatest productivity the
Empire mine shipped ores on a con-
stantly advancing market until in
May. 1906, the eliminating point
was reached and several cars or ore
were sent to the Matthiesen & Hegeler
company of LaSalle. Ill. who bought
most OF the Empire ores, at $50 per
ton.
Circumstances favored the ac-
emulation of profits which in a
period of two years and six months
or up to and including the month of
December, 1907, amounted to an even
$3.50, 600; or fifty SO dividends per
share. Expressed otherwise. upon an
investment of $50, there was realized
profit of $40, plus the enhcarced
value of the stock which at one time
commanded a premium of ST. 600,
some of the stock being held at 81, 100
per share during the top heavy min
ing boom of 1906.
W. F. Palmer Of GAINESVILLE, who
afterward reaped rich profits out of
mining operations at the Baxter mine
at Cuba City, sold out his Empire
holding some 200 shares or more at
figure in the neighborhood of $500 per
share. Small shareholders who were
compelled to sell during the panic
realized over $4OO per share. The
last dividend 81 per share was paid
in December, 1907, after this splendid
producer had passed into the control
and ownership of the Wisconsin Zinc
company, a million dollar corpora
ton, organized under the laws of the
state of Maine.
STILL A BIG MONEY MAKER.
The terms of transfer involved the
payment of 100000 in cash, quarter
ly installments of $25, 600 each. and
$50, 900 shares of the capital stock of
the wisconsin Zinc company.
Some of the old crowd had been
attacked with cold feet-it was feared
the mine was playing out and that it
would not make as good record in
the future as it had in the past.
Under the new man cement the Empire
mine has gone on in the same old
way of grinding out on an average of
one car of ore daily and yielding
profits of from $4,000 to $40,
monthly.
The new corporation is very
reticent-as far as information con-
corning operations-so accurate &C.
counts seem at this date impossible.
The Empire mine is equipped with
double power plant. representing an
outlay of $50, 900 or more for ma
chinery alone, 10Oton concentrating
plant of the Galena type, calciner
and separator of double capacity in
volving a total cost of $50 600. and
next to the Mills plant at Hazel
Green. one of the most elaborate
equipments in the Wisconsin field.
NEW BAG SHAFT PUT DOWN.
A new shaft of double compartment
capacity has just been put down on
the Longhenry land, $50 feet,
equipped with new hosting outfit |
capable of handling 800 tons of mill |
feed each hour shift.
Fred Krog, resident of Platteville,
xUoa for MANY vears nras dant of fha