Show S SALE OF THE SNOHOIiHSH Largest Mining Deal in Butte for Several Years The largest mining deal in the camp since the sale of the Moonlight claim by Dave BncKer to the Washoe company com-pany says the Butte Miner has just I been consummated A half interest in the Snohomish mine and a onethird interest in the Tramway has passed I I from the heIrs of the McNamara estate es-tate to F Aug Heinze and the Montana I Mon-tana Ore Purchasing company For the half interest In the Snohomish I about 100000 was paid and J25000 was the amount agreed upon for onethird of the Tramway lode claim The deal has been on for some days and is now fully consummated 15000 having been paid down in cash and the balance will be paid in a few days as soon as the preliminaries are arranged Dan Connale who represents the Mc Namara heirs has been in the city for the past week and he has made the sale of the properties to the Heinze people These two interests represent about all the valuable mining properties proper-ties left by the late W J McNamara and the price paid is considered generally gener-ally a good one The other half interest inter-est in the Snohomish and the other twothirds in the Tramway are owned I by the Butte and Boston people and it was supposed that the new company would wish to bid on the McNamara interests Some offers were made it is understood some time ago by the Butte and Boston people and it is also stated on the best of authority that the Butte and Boston people had the refusal of the properties at the same price paid by Heinze Mr Hyams of the Butte and Boston was here a few days ago and was approached and told that the sale would take place He stated tl1at the Butte and Boston was not In a position to make an offer of that sort as he considered the price too high and the company did not wish to acquire new properties at such figures where there was room for any doubt about the real value of the mine Heinze is down below the Snohomish over 200 feet in the flares which adjoins ad-joins the Snohomish and has been marking right up to the line of the Snohomish claim It is said that he wants the Snohomsh for the purpose pur-pose of handling a tramway from the Rarus across to the Montana Ore Purchasing Pur-chasing smelter as well as on account of the value It may develop into as amine a-mine The Snohomish has been leased for some time to James H Lynch and others but where work is being done there is said to be a limited quantity of ore and that no money has yet been made in operating the mine up to this time It is down about 600 feet now but it is said to contain a rich lead at a greater depth The lease given to Mr Lynch and associates was originally origin-ally granted by the Butte and Boston receivers and the McNamara people but on Jan 1 the Butte and Boston Bos-ton end of the lease was cancelled by Receiver John Forbis The leasers have however continued to operate the mine and the lease l will not expire for some months in the future Of the Tramway but little is known and the Heinzd people it is said < were not at all anxious to buy a minority inter I interest est in the claim It was however insisted in-sisted on as a condition to the sale of the Snohomish half interest that 25 000 be paid for the Tramway interest which was done The Snohomish was not located until 1SS2 when James Larkin and W J MoNamara filed on it and sunk a shaft down 40 feet when they struck ore In 1SS1 the same two men and a man named Boyce located the Tramway Twothirds of the Tramway and one half of the Snohomish was sold to the Butte and Boston company Robert C Burton sunk down 250 feet on the Sno homlsh and found ore but as yet no one has made money operating the mine At the time the Snohomish was located the ground had lain idle forman for-man years as no one considered It worth locating There were no crop pings on the surface to indicate mineral min-eral below but the men who located the mine said they thought it was worth prospecting so located the ground and sunk a shaft |