The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-01-14
NEW YORKER IS AFTER
IDAHO MINE
STAR" PROPERTY NEAR MULLAN
IS MUCH SOUGHT BY
CHARLES SWEENEY.

Spokane. Jan. 13-Reports from re-
| liable sources are that the Federal
Mining & Smelling company, headed
by Charles Sweeny, formerly of Spo-
kane, now living In New York, Is ne
gotating for the purchase of the Star
mine, near Mullan, Idaho. 1t is CIV
en- out the deal will be closed at q
conference between Mr.. Sweeny and
John A. Finch of Spokane, to take
place at Los Angeles in a few
days. Finch has gone to California
for the winter; Mr.. Sweeny is also on
the way to the. Pacific coast. The
deal Is looked upon as the most i'm
portant in the Occur dAlenes since f.
Augustus Heinzc took control of the
Stewart property.
The Star Mining company, capt.
talized for $l,O0O.OOo is controlled per-
sonally by John A. Finch and A. b..
Campbell of Spokane and Henry Wick
of Youngstown, Ohio, others interest
ed being Joseph II. Boyd of the Ma
tional Iron Works, Colonel |. N. Pey
ton and Austin Corbin Of Spokane.
The property embraces large
number of claims, all patented They
were owned originally by different In
terests, but the control has been grad
ually centered with Mr. Finch. The
Star is west of the Morning mine, one
of the Federal properties, and the long
lower tunnel Of the Morning can be
extended to the ore bodies of the Star,
which could be mined at n low cost
and treated at the Morning MILL
nr
developed. On the 700-foot level the
vein has been opened up continuously
for about 600 feet. The ore body Is
from 4 TO IL feet in width and is rich
in lead, with low silver values. The
property is being developed steadily
under the supervision of E., II. Moffatt
of Wallace. 1t 4 is Il huge low-grade
proposition, the ore being similar to
the Morning, for which the Federal
paid $3,000000 cash three years ago.
Should the Federal purchase the
Star, its location next to the Morning
would make it a desirable property
for the big company. 1t is said that
the price will be close to $1,000, OOO
The property is no longer Il prospect,
but is well developed, and If equipped
Win d lSuuStioi plttHt coulu DeS1l
producing at once.
w. Clayton Miller, general manager
of the Federal properties, now at
Wallace, denied in a conversation over
the long distance telephone, that any
deal was pending for the purchase of
the Star. The officers of the Federal
company. however, have always been
extremely reticent concerning the pur-
chase or development of new or old
properties.
whether the deal goes through or
not said Il well-informed mining man
of wallace, ut is indicative of the
growing activity in the Occur
d'Alenes. When lead and silver and
copper We're high, before the Octo-
Der panic, nearly any kind of prop
erty in the Occur d'Alenes could OBJ
tain financial backing, and in GER
tain instances people fell over one
another to subscribe for stock issues.
Following the sag in the price of met
ais and the money stringency after the
panic, no property, no matter how
good it's showing, could command am
pie funds or development work. Now.
however, money is again plentiful, the
metals are slowly recoverinep in price
and many deals will probably be put
through In the Occur d'Alenes and
other mining districts tributary to
Spokane" |