| Show DEATH OF SPOKANE millionaire RECALLS HISTORY OF HERCULES the death of august paulson capitalist and mine owner of spokane wash which occurred at san diego calif on the alth of this month has called forth many eulogies of the man and his career in the mining world he was one of the early day owners of the famous hercules silver lead mine at burke idaho which following years of struggle and privation made of him a millionaire worthy of emulation he had saved and bought a quarter interest in the property for when the will was filed for probate a few days ago it was shown that the estate amounted to 2 the story of the development of the hercules M mine 1 i ne reads with all the flavor of a romance it is a story of confidence and ability backed by judgment and the hardest kind of backbreaking back breaking labor it is a sto story ry of denial and poverty which in the end led to great wealth not only to the men themselves but to the country in which they lived and helped to develop until december 1901 mr paulsen worked the mine during the summer and handled a small dairy business during the winter mine that made poor men wealthy the hercules mine was essentially a poor mans mine associated with mr paulsen were the day brothers harry L a mill man and bookkeeper eugene a storekeeper at kellogg and jerome at school C H dad reeves a barker barber now living in spokane L W mutton hutton spokane then a locomotive engineer frank M rothrock Ra spokane then a provision dealer damien cardoner Cor doner storekeeper and a few others these in men put all their earnings into the development of the mine never losing faith the wise ones laughed at them and called them fools for spending their money over such a fruitless proposition in june 1901 their dream beam began b to materialize and the ore body was struck it produced at one time 6 per cent of the lead in the united states and althou although b h it was shut down early in 1925 it will long remain as one of the happiest memories of the coeur calenes dA lenes that it was developed at all by a group of men with virtually no capital and that these same men hold onto it until the end was in a great me measure asure due to august paulsen to rench reach the fire farsi ore the men had to drive a tunnel 1500 feet through h solid rock by hand sometimes there would be five men borki working I 1 ng ill sometimes two or even one the owners owner s worked out their assessments and persevered when the ore body was struck it proved to be the best in the district being a high CT grade of carbonates and galena carrying good values in silver dividends aggregate the workings working s of the ma mine 7 ne called for hard manual labor upon the part of the partners mr paulsen put all his wages into the property property as did the other partners the men were too poor to pay for the hauling in of the necessary timbers and at times one or two of them would go out and cut the timbers and haul them to the mine by hand since that time the mine has produced and has paid dividends of approximately after the closing down of the hercules mine proper the partner sin the hercules min mining ing company to work several other claims during its remarkable career the hercules mine had been operated on a partnership basis in 1901 the mine produced tons of ore and paid a dividend of 8 Oo in 1902 it produced tons with dividends of tons while in 1914 it produced tons with dividends amounting to up until 1916 it paid out dividends to the partners of nearly from 1916 until 1925 it paid them more since the mine was developed mr paulsen had beeri actively engaged in business enterprises in spokane in 1911 he e completed the paulsen building one of Sp most imposing structures which will stand as a monument to one who had faith in the b great northwest mr paulsen is survived by his widow and four children |
