The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1924-06-26
GRANITE MOUNTAINS RICHES BROUGHT GREAT
SPEEDY WEALTH. TO IMVEST0RSS WAS BASIS

a very ordinary occurrence. There
were no surface indications of val
lie and the act of locating was
merely perfunctory on the part of
Mr.. Holland, he deeming that
someday something might be re-
allied by SO doing.
THE following year he and his
associates contracted to give a
quarter of the property to a miner
named Mcintyre if the latter would
sink a shaft fifty feet deep on thhe
ledge. This working was COM
pleted, so the contractor thought,
but upon measurement was after
wards found to still lack a foot
of the distance agreed upon. The
owners insisted upon a compile
ton of the work before the sur
rendering the deed, but Mcintyre,
a veteran miner and prospector,
declared he would not walk up the
d hill again for the mine
"The mine in reality was discov-
cred by Charles D. Mcclure who
had visited the ledge in the sum-
mer of 1880 at the request of Hol-
land. In doing so, he came across
a small piece of float which, upon
careful examination, created in his
mind the impression that the big
ledge had merit, and he became SO
convinced of the truth of his be-
lief that after subsequent visits he
bonded the property in his own
name for 10000 and Immediately
took possession"
Through him a syndicate was
formed formed consisting of St.
Louis investors and up to the
summer of 1883, $4,000 was ex-
pended in development, the total
disbursement in purchase and de-
velopment amounting to about
100000.
John R. Lionberger was the
first president of the Granite
Mountain Mining company, he be-
ing succeeded in December, 1884,
by Lewis R. Rumsey, who occu-
pied the position up to the time of
the consolidation with the Bi-Me-
tallic property in 1898.
C. D. Mcclure acted as superin-
tendent, but was later succeeded
by Frank L. Perkins who had been
superintendent of the Hope Mining
company which in 1885 built the
Hope mill, the first silver mill in
He remained as super
until March, 1885, when
Granite developed into a bo-
nanza, when he was relieved by
Captain John w. Plummer.
The Granite paid its first divi-
of 10000 in April, 1885, less
han a month after P1ummer took
In 1884 Mr. Mcclure purchased
he properties lying west of the
Granite and in July, 1886, incor-
oorated them as the Bi-Metallic
company, of which Charles
Clark vas the first president and
vas succeeded in October, 1889,
~ Paul A. Fusz, who served as
UGH up until the organization of
he consolidated company.
The members of the boards of di-
ectors in these companies being
he largest stockholders in both
companies it was deemed advis-
BILE to consolidate them, and on !.
6, 1893, a charter was OBJ
aimed under the name of the Gran
te-Bi-Metallic Mining company,
which took possession the follow
ng month.
Beginning with the year 1883
nd up to May /, 1893, at which
ime the properties were turned
yer to the consolidated company,
ullion and ore was shipped from
he Granite to the value of ST.
go, 106.26, and from the Bi-Me- /
allie to the value of $7,267,813.29,
total of $29, 360,919.55. The net
rofits divided among the stock
olders during that period amount !
4 to S13.77OOOO.