Montana oil and mining journal., 1937-09-11

BILLINGS rganization OF the
Yellowstone Gold Mime, Inc, with
a capital Of $1,0O0,0OO, divided into
100000 shares, $1.0O par value,
and assets running into the many
millions has been completed. Of
ficials OF the company are Bruno
Heinrich, Chicago, president; John
Id1tz, Chicago, secretary and treas
urer: A. FTamohie, mining engineer,
Great Falls, General manager OF
field operations and Charles Davis,
Norris, Montana, consulting engin-
eer. An officers are on the board
OF directors as we'll as r. G. Han
sen, Billings, also on the board
Principal place of business and gem
eraa headquarters will be at Chicago.
Organization was made possible
by the merging and purchase OF
properties, and interests owned and
once operated by Western Smelter
and Power company. predecessor to
the Montana Mines and Power COM
pany, Cooke and Consolidated Cop
per company, Homestake Gold Min
ing company and Holiday Interests,
comprising SO claims. Included in
the merger and sale were properties
on Henderson mountain consisting
in part Of Homestake, Daisy, Ajax,
Leopard, Queen Ann, ChRs. Hart
man, Montezuma, Henderson, Adit,
Forget t-me-not, Cold Nugget, Edna,
Edith, New York and New York
Fraction.
Operations have been sporadic
over a long period of time since
1870, and high grading was the
only practical method until recently
when easy transportation has been
developed. AS late as 1885, so
tons of high grade ore shipped to
Anaconda smelter made an average
return of S24 per ton. No accur-
ate estimate can he made ON the
amount of high-grade ore on the
various properties now belonging
to the new company, however 1t IS
estimated that there are millions
of tons of ore classed as low grade
ore, that will SHOW an average re-
turn of $12 per ton. Moody's man.
uel rated the Western Smelter and |
Power holdings alone at $S,OOO,OOO.- !
90 in reports for 1882.
AS reported in these columns
some months since, Harry Kramer +
of Chicago and Billings first be-
came interested in the New World
mining district, Cooke City, Mon
tana area, IA months ago, when
he made a deal with a Denver party
to buy certain interests in the
region. Upon thorough checking
of titles to the properties embraced
in his deal, he discovered such a
complex of interdependent owner
ships that it at first looked like
an absolute impossbbiity to get any
kind of clear title. Kramer had
to contact the many and varied
owners of interests in the various
groups and buy or bring them unto
the new deal.
Kramer surrounded himself with
able engineers, and legal talent in
the early stages of his investigations,
Davis and Franchie. engineers, with
Judge Albert Anderson, Billings,
acting as legal advisor. This COM
bination was a determined quartet
that patiently and deliberately moved 4
along, overcoming all obstacles. (
Starting in TO acquire a certain
portion of the gold claims involved, 4
eventually they expanded and took
dn the many units necessary to com S
pose a whole, thus setting up a
structure that could be financed on 1
merit on a large enough scale TO {
make it successful
Operations on their new holdings
will start immediately. Cleaning {
out the seven or eight Thousand
feet of tunnel overhauling the s
tramways, power plants, 500-ton {
and overhauling the hydro
electric plant buildings and machin- {
cry, will be the first consideration
given by MIR. Franchie, while adj
ditional equipment will be installed
including a 200-ton mill
The New World mining district, {
Cooke City, was first named for q
Jay Cooke, Philadelphia Banker,
and at the time, President of the II
Northern Pacific Railroad, in CO.
operation with j. Edgar Thompson,
the then president of the Pennsyl-
vania railroad. They started to de-
velop not only the mines but trans ]
portation facilities. The death of {
Cooke after the 1898 panic ended
their uncompleted plans {
Discovery OF Gold y
Discovery OF gold in Cooke was s
made by a hunter prospector NAM
ed Crandall who was followed into
the territory by Adam '"FIorn"
Miller, Ed. HILBERT, Bart Hender-
son and Jim Gourley, in 1870.
These men found Crandall's dead
body, where the Indians had slain
him but also found gold on the
Clarks Fork of the Yellowstone,
Soda Creek, Crandall Creek, and
other locations in what Ia NOW tha