Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1941-05-03


/ proximately 5000 drivers do not have
current licenses
property for $4,000 and with this he
| started in He traded 900 shares OF
Granite stock for horse and buggy
at the rate of Is cents q share. This
stock was later sold for $4,000 and
started the story Of McClure's $4,000
Another story Of the early day strug-
giles of the Granite Co. Is that the
$4,000 was almost gone, in fact Nc
Clure had juSt enough money TO pay
| the men for one more day. Everyone
was ready to quit, but Mcclure in
sisted that the work go on as long
as he had a cent left. The last shots
that day brought in silver ore so rich
the aSsayer wouldn't believe his own
This story has little foundation in
fact as government reports state that
only a few thousand had been spent
on the mine when he managed to or
ganize a syndicate Of mostly st. Louis
Investors who advanced him 1892, 600.
DR.. Merrill, Mcclure and Charles
Clark we're the large Montana stock
holders and the only Montana men In
the corporation.
Tap Richer Ores
AS work progressed large quantities
of low-grade ore was taken and worked
at the Algonquin mill at HaSmarck. At
this time the vein was from four to
six feet wide and averaged about As
ounces of silver to a ton, and from
81 so to So in gold. Later on 1t was
as wide as 20 feet and went several
hundred ounces to a ton.
AS richer ore bodies were tapped
2O-stamp mill was erected and started
operations in December, 1884. An av-
erage of about 100000 worth Of ore
month was worked, netting dividends
of about $4,000. A quarter Of million
was refused for block Of stock which
only a few months earlier had sold
for $4,000.
But the 20-stamp mill was not large
enough and 1t was expanded 10 W
stamps. Shortly after a 1O0-stamp mill
was constructed at Rumsey, close to
PhiIipSburg, and connected with wire
tramway with the mine.
Hot Silver Bricks
Granite really got started in a big
Way in 1885 and with each addition the
mines and mills employed more men.
Dividends often exceeded quarter OF
million a month and richer and
richer ore was found. Large quantities
of ore, running around $50 ounces IN
an 11-foot face lay untouched for a
long time because mills were working
at full capacity with much richer ore.
Every month or six weeks the com
pany would ship out carload OF silver.
Cast in 5O-pound bricks these were
loaded as hot as the car would stand
to prevent theft. Loaded hot and sealed
they retained most of their heat clear
to their destination.
GRANTEES second mine was the BIZ
Metallic, hardly stones throw from
the famous Granite mine. 1t was start
ed about the same time as Granite
went into production by Mcclure,
Clark and DR.. Merrill but although
they were all stockholders in the Gran
tie company this mine was run sep
arately. The Bi-Metallic never APP
preached the wealth of the Granite
but it too was run on grand scale
with 100-Stamp mill on Douglas
creek. During the l0-year- period ending |
In 1893 it produced approximately &c.
OO0, 900 of which $2,00O,O00 was paid
out in dividends.
Holland Lacked Faith
There were many who did not share |
faith In Granite, among |
them a man named Holland. During |
the early development days Holland /
contracted to dig a 5O-foot winze and !
take a quarter interest in the mine in |
payment. He dug it but McClure's |
proved it to be exactly foot |
short. Holland refused to complete the |
contract and lost quarter interest in
25 millions.
These were the boom years in Gran |
tie; happy, carefree and prosperous.
With each addition to the mines or
mills her future looked brighter and |
her fame spread far and wide. So /
bright was it that even the panic Of
1888 could not dim it. Silver prices hit
the skids and kept on sliding but
Granite never worried. There was
nothing to worry about.
Early on an August morning the
orders to shut down came. Granite was
astonished and bewildered for the
thought had not even occurred to any
0ne. AS q last act the engineer tied
down his whistle and left 1t to wall
put to the unheeding populace the la
nent Of dying town; just eight years
Did.
Exodus From Granite
Then began the famous exodus from
Granite, about which so much has been
written. People who only yesterday had
orided themselves on their town
-lShed to be the first to leave, and
,ome accounts say that within "A
hours only 2 out Of the original 1000