Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1922-08-17

The Yaak Mining & Power Co is
headed by John e. Bucher, who was
professor of chemistry at the Lehigh
University in Pennsylvania for 20
years. 1t is understood that he came
west in the interests of eastern capi-
talists with instructions to purchase
what to him appeared to be the best
mining proposition in the west. After
investigating the Yaak placer claims
he Immediately began buying up in
dividual and corporation holdings un-
til he has at the present time, accord
ing to reports, acquired for his COM
pany practically all the land in the
10000 acre tract.
1t was reported last week that the
Cynide Co had sold its holdings for
deal fell through. The local company
wanted money to develop other prop
erty and its directors held out for
cash deal. The price to be paid for
the Yaak property of the Cynide COM
pany is $1,000, 900, and by the sale
contract $4,000 is to be paid each
year.
However, according to the contract,
it will be to the advantage of the Yaak
company to make final payment with
in five years, and when the sale was
made officers of the Cynide company
were practically assured that the
contract would be taken up within
that period.
In addition to the annual payments
of $4,000 the contract provides that
as soon as the new company starts
producing, % per cent of its profits
shall go as a further payment to the
Cynide, and provision is also made
that the new company must have in
operation not later than 1927 a plant
sufficient to handle $4,000 tons of
gravel per day.
If the contract is carried out,
Cynide stockholders are assured the
equivalent of 30-cent dividend. This
stock has been sold as low as 15c
share, and is now valued at soc
share 1t is held principally by local
men, who announce as their only rea-
son for selling the Yaak property the
fact that they WILL through the sale,
acquire capital enough TO develop
other mining property.
I'VE realized long ago said George
Causton, secretary of the Cynide COM
pany. that our Yaak property was
extremely valuable, but we also saw
that it was too big for us to handle
That it can be handled successfully
by the company that is taking it over
there is no doubt, and it is also cer-
tain that with the money we will get
through the sale we can go ahead
with the Buckhorn mine and make
it a success. We have had about go
men employed for some time at this
mine and the cyanide mill building
is already well under way. We have
the water rights on the Buckhorn and
we will install an electric power
plant and expect to have all our ma
chinery driven by electricity"
Officers of the Cynide company are
j. b. Ellis. president: James LaFoun-
tain, vice-president; George Causton,
secretary and treasurer. The direct
ors are F. A. Shultis and T. J. Hol-
| linger of Bonners Ferry, Martin Con-
Ion of Columbia Falls, and Chas. Eline
of Red Deer, Alberta. The sale con
tract was signed for the Cynide com
pany by Mr.. Ellis and Mr. Causton,
who returned last evening from Spo-
kane, where the deal was closed
! All of the property of the Yaak
Mining & Power Co. is situated along
the Yaak river in Lincoln county
Montana. The sands along the river
are known to be rich in gold and plat
/ mum contents. The Buckhorn prop
| erty of the Cynide company is located
about Is miles north of Bonners Ferry
in Boundary county Idaho Officers
of the company state that all present
and future stockholders will benefit
alike by the sale of the Yaak holdings