The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1924-01-03
HERCULES COMPANY
NOW A CORPORATION
MAY MEAN NEW POLICY
Develop New Mines--Officers
and Directors--W Widespread
Benefits of Mining
MAY MEAN NEW POLICY

~ HE INCORPORATION OF the
Hercules Mining company. after
its long career of profitable
production and at time when
il is understood based upon common
/ report. that the Hercules mine is
nearing the end of its productive life,
! has introduced an interesting sub
iect for speculation regarding the
/ purpose of the owners in changing
/ the form of the company from
partnership to a corporation. Harry
L. Day. president of the company, in
brief statement published in the
Day organ. merely states tina
changed conditions have convinced
us that the business will be better and
more easily handled as a corporation
than as partnership" 1t is believed
probable that the change means that
the Hercules company now that the
days of the famous old bonanza seem
to be numbered, is going to expand
its mining operations by the develop
ment of new mines. The Day family,
which owns the control of the Her
cules, also owns or controls vast
mineral area extending from Burke
westernly to Beaver creek, and also
the Maher- Hearne group of claims
east of the Hecla This great acreage
includes. in addition to the Hercules
and Tamarack the Sherman, Oreano,
Hummingbird, Stanley, Basin, La
clede, Ambergris, Portland, Sunshine
Amazon Manhattan and Ray-Jeffer-
son. At least three of these prop
critics, the Sherman, Ambergris ana
Amazon Manhattan, according to pop
ular belief, have quite extensive ore
bodies developed, while others in the
list present equally inviting develop
ment possibilities. The Days also
control a large group of claims on
Packer creek, north of Saltese' Mon
tana. which includes the Bryan, U.
s. Ben Hur Last Chance and pos
sibly others. Evidently II the Her
cules has adopted a policy of expan-
sion. the Day holdings present
practically unlimited field.
The New Company.
The Hercules Mining company is
incorporated for $5.OOO,OOO divided into
500. 900 shares of the par value of So
( The directors and officers of the com
pany are: Harry L. Day. president
and treasurer; Jerome J. Day. vice
president; Axel p. Ramstedt secre-
tary, all of Wallace; August Paulsen
[. w. Hutton, and f. NJ. Rothrock' of
Spokane: Eleanor Day Boyce, of
Portland; Frank p. Maxwell of Long
Beach. Cal William II. Hoover OF
Burke is assistant treasurer and
Walter b. Heifeld, of Wallace, is as
sistant secretary.
Story of the Hercules.
1t is now almost quarter OF a
century since the wonderful strike on
the Hercules suddenly brought wealth
to a group of poor men and women
who had doggedly stayed for years
with the development of prospect
above Burke The story has been
told and retold like that of the ia
nous burro that discovered the
Bunker Hill, and it will not be re-
peated here. Yet some of the direct
results of that bonanza discovery are
interesting at this time as showing
the qualifications of the wealth that
comes from the mines; how the public
in widely separated fields benefits
through this new wealth taken from
the ground, Independent of the direct
benefit that comes to the fortunate
owners and the people of the COM
munity supported by the mines While
the owners of the Hercules may have
added much to their wealth through
other Investments, the Hercules was
the foundation upon which their
fortunes were built, and to this one
mine must therefore be credited the
Paulsen and Hutton Office buildings
in Spokane, also the Hutton home
for orphans near that city; the es-
tablishment of the Hercules pure
bred stock farm in eastern Washing
ton; the purchase of the Portland
hotel; erection of a mammoth hotel
at Long Beach, Cal, and development
of lead mines in Spain. These are
some of the conspicuous results that
came direct from mining profits, and
the list could be greatly extended TO
include investments in homes, bust
ness enterprise, securities, all outside
the realm of mining. These are
features of the mining industry which
the public is disposed to overlook
when considering the enactment of
laws affecting the miner.
It is estimated that if half the