The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-08-19

PAID INCIDENTS RE
CALLED IN CONNECTION WITH THE EARLY HIS.
MINE.

Next Friday, August 20, the
Hecla Mining company will distribute
among its stockholders the regua,
monthly dividend of cents per share
and an extra dividend of 5 cents pei
share, or a total payment OF I cents
pc. share, amounting to $4,000 This
is in accordance with the announced
policy of the company to distribute
the entire earnings of the company
each month, after retaining cash re-
serve fund of 100000. This dividend
brings the total dividends paid by the
Hecla this year up to $1S0,000, and
the grand total for the mine up to $S,-
$4,000. The announcement of in
creased dividends caused the bid price
of Hecla stock to advance from $2.25
to $3.50 up to the time the transfer
. Since then the price has ranged from
$3.50 to SO. Hecla stock is soon to be
listed on the New York curb. Coeur
d'Alene stocks are attracting much at
it is expected that Hecla, with its con-
sistent dividend record and promised
permanent increase, will make it one
of the most popular issues.
sold Mine for $3.50.
In conversation with an old-timer
the other day about early mining op-
erations at Burke, he recalled some
remarkable transactions in connection
with the early history of the Hecla
that are highly interesting now in
view Of the millions the mine has paid
and other millions yet to be earned,
for 1t is reliably stated that there is
now ore in sight to last 10 or 10 years
at the present rate of production.
According to this pioneer of the cam
yon, the Hecla was located by Cap
tain A. P. Horton, still resident OF
this district and one "Sankey,
whose real name is forgotten, who
was a singer of local renoWn, and
whose ability in that respect gave
him the nickname in honor of the not
ed vocalist who was associated with
Moody, the famous evangelist. These
two were the owners of the Hecla
when along in the later SOS the ton
mage at Burke had become sufficient
to attract a railroad. The promoters
of the railroad delegated the task OF
securing the right of way through the
% Har6pGfV.
who had established a general mer-
chandise store in Burke The Hecia
ground extended across the canyon
and the owners therefore had TO De
dealt with by the railroad company.
Richt Of Way and Mine Same Price.
Mr. Hardesty approached Captain
Horton on the question Of securing the
right to cross his ground and was tolo
that 1t would cost the railroad COM
pany $3.50 for the concession. con-
sidering the vast volume OF business
that has since come out of Burke ana |
the subsequent value OF the ground,
that figure seems exceedingly reason
able. but apparently it didn't strike
Mr. Hardesty that way at that time.
His reply to Captain Horton was III
the form of another question, Which
srsolied that the captain wanted the
price of the entire property TOT the
right of way. And this proved TO De
true for when Mr.. Hardesty asked
the captain how much he wanted TOT
the mine, he promptly replied $loV'
Tho deal was closed and Mr.. Hardesty
not only secured the right Oh way lol
+he railroad company, but mine tha'
has since paid nearly three ana nan
millions in dividends. But ne never
shared in the great profits. MT Har-
desty shared his suddenly acquired
nronertv with Patrick Clark manager
of the Poorman mine, and simon
Healy. superintendent, and these OF
qanized the Hecla Mining company
5ardestv and Healy died many years
ago and Clark followed them le"
months ago.
Sold His Stock for Cents
Although organized anu ooh'
by prominent and successful minihs
men, the Hecla company ala not ap
peal very strongly to pseculators
investors at that time ana the s'ooN
could be picked up at most any p,io
one wanted to offer. George brauieS'
who was railroad agent at BURKE,
t,rh. a blocl, of several thousand i
shares at cents and for many months
he could not have turned them for tre
same figure. Finally some one canhe
along who was wiser than ms t'nie
and offered Bradley 5 cents Ior ms
stock Bradley was undecided as 70
what to do, so he sought Patrick
clark to whom he was related, for ad-
vice. Mr.. Clark told him to sell ano
be quick about it. and that II 'ne
stock was ever worth any more ne
x,,o,la nav him the difference. Brad