The Colville examiner. [volume] (Colville, Wash.) 1907-1948, 1922-07-15
First Thought Mine
To Erect A Mill
County's Largest Gold Mine
Soon to Be on List of
Shipping Properties

First Thought mine, Stevens county
has a certainty that the states great
est gold mine will soon begin to
again put its values into circulation.
The First Thought was for years
the only real gold mine in the coun-
ty and state, and so far as is known
is still the great gold property in the
state. 1t produced 100000 in gold
during its operation, and was closed
by the action of the Stevens county
assessor in raising the assessed
value to such point that the old
method of mining would not pay
L. Burns, who then owned the
mine, threatened to close the mine if
his assessment was raised. The as
SCISSOR believed it was a bluff. Per-
haps it was. But the mine closed,
and has remained closed ever since,
although there is about $2,5OO,00O in
good ore actually in sight. In fact,
there is enough ore on the dump to
run q 100-ton mill for many years,
and enough ore can either be quar-
ried or stopped from the present work
ings to run a 300-ton mill for 10
years.
Present plans of the company, the
First Thought Gold Mines, Limited,
which company has never been
changed, are to build 100 ton cy-
anide mill within few feet of the
ore body, then to mill the ore on the
dump, and then to mill the ore which
can be easily quarried or stopped from
the present workings. mo develop
ment work will be needed for years.
The old method Of tramming the ore
to the railway, and then freighting to
a smelter, will not leave enough
profit to pay, but the proposed meth
cd will pay big profit on every
ton of ore mined and milled.
The mill, in it's first unit, will cost
about 100000. To increase. to a
800 ton daily capacity would cost
another 100000, which may be done
later. The company is absolutely
without any debt, and owns clear
title to the entire mine property,
equipment, buildings and furnishings.
Estimates on the present sale value
of the property run from 100000
to 100000.
The directors are bonding the prop
erty to raise funds for the mill, the
bonds being a first mortgage on
everything the company owns. Bonds
only run years, pay 80, and 2000
shares of stock are given with each
$1,000 in bonds sold. The Security
Trust Co. of Spokane is the trustee
for the bondholders, and incidentally
holds in escrow all stock of the share
holders so that present plans can in
no way be frustrated by an indis-
criminate use of the stock now out.
About half of the funds for the first
mill unit are in hand, and the balance
will soon be raised, when the mill
will be installed. By agreement Of
officers, no expenditures are being
made without funds in hand to meet
them.
History of Mine
The First Thought was opened in
1898 by prospector, and was soon
sold to P. Burns for $25,000. Burns
secured Alexander Sharp to develop
the property, and spent about $780,
900 in development, including 5000
feet of workings on of the levels.
He built a complete mine camp, suf-
ficient to house the 40 men at work,
and developed and patented the 9
claims covering 14l acres. There
is a modern water system, phone in
stallation, tramway to Orient, and
all the buildings, machinery and
tools for extensive work. The mine
is 11a miles east of Orient, and
three miles by wagon road.
When Burns closed the mine be-
cause of the tax trouble, he continued
George Keefe as watchman, who has
kept everything in shape, and the
property stands as it did the day it
was abandoned, ready for work.
The orchard and garden are kept up,
the bunk houses are clean, the church
windows are boarded up, the assay
office contains all it's valuable equip
ment, the engine and boiler rooms are
ready for the mechanics, and the
miners tools are waiting use. Burns
admitted on the witness stand in
Colville that he had refused $1,000
900 for the property. When Sharp
left the mine in 1912, he said to the
watchman, with tears in his eyes,
George, Pm leaving the greatest
mine | have ever been connected
with" Nothing has since been re-
moved, and George Keefe is jubliant
in the immediate prospect of his
Continued on page four)