The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1913-12-11

The announcement a few days ago
of the sale of the Occur d'Alene Hard
ware company to stockholders in thu
Occur d'Alene Ironworks came as a
surprise TO most people, although II Is
known now that negotiations TO that
end had been quietly in progress fer
several months. The amount inVolV-
ed in the deal Is not made public but
It is safe to say that with the excep-
ton of the sale Of mining property,
no transfer of property has ever been
made in this section which involved
so large sum, 1t is probable that
the basis of the sale was in the neigh
borhood of half a million dollars.
New Company to 30 Organized.
| While no announcement has been
made as to the plans of the purchas-
ers, It Is understood that new COM
pany will be organized which will be
called the Occur d'Alene Hardware &
Foundry Company, into which
the two original companies will be
merged and the stock issued under a
new and largely Increased captaliza-
ton. All the stockholders in the
Occur Alene Hardware company
have sold their holdings and number
of stockholders will appear in the new
company who have not been connected
with either of the old ones
The purchase of the Occur d'Alene
Hardware company is in line with
the modern tendency to combine as
means of effecting economies in the
handling of large business. The act
ual change will become operative on
January /.
Pioneer Hardware Company.
The Occur dAlene Hardware COM
pany was born in Murray in 1884 and
it's subsequent growth has kept pace
with the wonderful development of
the Occur d'Alene district. From the
little hardware store established by
w. w. Hart and ]. r. Marks, dong
business under the firm name of j. Z.
Marks & Co., the stock for which was
packed over the Belknap trail, the
business expanded until for years it
| has been the largest hardware estah-
lishment in the state OF Idaho, posi-
bly, as large as any in the interior
northwest. 1t is interesting to note
the various stages of its development
and the various changes that have
marked it's growth.
Opening Wallace Branch.
In the spring of 1887 ]. r. Marks &
Co. opened a branch store in Wallace
occupied a frame building on the site
Of the present big store. w. w. Hart
had charge of the branch and remain
ed the active manager until his deatf
few years ago. 1t was at this time
that E. II. Mohitt, then of Murray
bought an interest in the business, anc
in July of that year he came to this
ing most of the time giving his per-
sonal attention to the business. Dur
ing the same year branch stores were
also opened at Wardner, Mullan and
Burke.
In the fall Of 1888 j. r. Marks & Co
combined with the Holly-Mason com
pany of Spokane, operating under the
name of Holly, Mason, Marks & Co
This consolidation continued untI
1892.
Present Company incorporated.
In that year the Occur d'Alene- end
of the big concern withdrew and or
ganized a local company under the
name of the Occur dAlene Hardware
company. The incorporators of this
company were e. H. Moffltt, W.. w
Hart, John A. Finch, A. B. Campbell
c. e. Bender and A. M Hotter of Hell
ena. These remained down to the
present time the owners of the bust
ness. although there are several small
holdings in various parts of the coun-
try. This company took over all the
stores in the Occur d'Alene district
In 1894 the branch stores at Ward
ner, Mullan and Burke were CONSOLE
dated with the central store at Wal
lace. At the same time the parent
store at Murray was sold to w, p
Northrup.
OF the principal owners of the Occur
d'Alene Hardware company, all Of
whom, with the exception of A. M
Hotter, formerly resided in this city
not one is now living here except r.
II. Moffitt Two of them are dead
w. w. Hart and A. B. Campbell All
have extensive business affairs to oc-
cupy them, and under such crcum-
stances it Is probable that Mr. Moffitl
will welcome retirement from bust
ness to the success Of which he has
contributed 50 much, but which mus
have become somewhat burdensomt
with the removal Of his former ascot
ates
The Occur d'AIene Iron Works.
1t was in 1891 that Heine, Farrell &
Thompson Harry Thompson, who
still resides in this city, established a
foundry about mile and half up
Canyon creek That was the begin
ming of the Occur d'Alene Ironworks,
the controlling owners of which have
just purchased the Occur d'Alene
Hardware company. Later the foun-