| Show unique terms involved in transfer of the famous minnie moore mines on basis of under terms and conditions unique in the mining world the minnie moore has been transferred to the federal min mining ing smelting smelling Sm elting company on oil a basis of here are the terms ten per cent of the ore receipts go to the owner of the property until the other 90 per cent returns the money invested up to the point of profit taking when the original investment has been paid with 6 per cent interest then 60 per cent of the net profits go to the purchaser until the balance of 40 per cent pays pay the property owners when the deed deca now in es will be delivered to the purchaser this is the information that comes to the times news miner aliner of II ailey idaho from a source considered thoroughly reliable 1 I E bockwell Koc kwell who has been in new york fo for three months on this deal returned home early in the month he declined to discuss the sale of the minnie Nl innie moore simply saying bf JI 1 I admit it square deal for capital by the terms briefly outlined above capital is insured a square deal in this instance it is given a run for its il money loney the purchaser is to get liis his money back first to compensate him for his risk and after that a 50 50 division of the proceeds from the ore unless it is proven that the ore can be mined at a profit it is argued that it would be an outrage to expect the purchaser to pay an enormous price for the property in the property of the minnie moore mines company involved in this deal there are 10 patented claims and five claims owned in fee known as the minnie group and 5 controlling interest in four adjoining and contiguous patented claims claim known as the queen queen of the hills group nineteen claims in all are in the mineral hill district uncontested title to the property is lodged za in the minnie moore mines company through the purchase of judicial sale under tinder order and approval of the court in june 1912 and I 1 E rockwell of bellevue is president and cont controlling spirit of the company ten million dollar badger A detailed bistor history y of this fai famous notis mine would fill a volume A few of the salient facts only can be Z given here A boy chasin chasing 9 a badger to his hole in 1880 resulted in the discovery of the minnine moore investigation 1 of the shiny rock noted by the boy led to the uncovering of galena ore and the claim was located hit or miss mining was done there for a time A year or two later it changed hands and 11 1 1 E miller and george moore sank a and brought in a veirl vein of high grade lead silver miller bought a half interest in the property and two years later the prospect was sold to dent palmer co of london for 40 vein pinches out up to 1887 the reported shipments amounted to at the foot level the ore is is reported to have pinched out and the mine was abandoned by the london owners Carmic carmicheal beal and kinnear obtained a bond and leaston lea seon the minnie recovered the ore beyond a minor fault cut the level in ill solid galena and found that the level had bad been run in a continuous continuo usi shoot of ore for more than 1000 feet the mine continued in bonanza till the level ups and downs of minnie the mine was closed in 1890 and remained closed 10 years it filled with water at that time in 1900 1 I E rockwell and his associates bought the mine for and at an expense of it and prospected it to the bonanza ore once more from 1902 to 1906 the minnie was a continuous producer with about to its credit in that time it was sold to C M schwab and his associates for for a bare control the workings were brought down to the 1100 fo foot level and a large 6 station was built at the 1000 foot level here her an all abrupt fault was encountered gets beyond fault under Rock wells mana management 6 ement the minnie from 1900 to 1903 with one year of actual production paid in div idenys amortized a bond issue and turned over a surplus of to the schwab syndicate Sch engineers gi after extracting the ore left in sight by rockwell ii amounting mounting to IV spent something 6 like explore ing beyond the minnie fault now known as the wood river fault and into the relief group in 1907 the idaho consolidated mines company began be an sinking the allen alien shaft shaf t to reach the object act the work was suspended in november of that year on account of the money panic and all work was suspended for a year the account of the efforts to the property the taking 6 over of the relief group tl the various plans ians to finance the enterprise the appointment of I 1 E receivers receiver the sale of the property by court order the damage by the in the winter of 1914 15 the purchase of additional gro ground cr tind the effect of the th world wor d war wa all a make an inter testing but ion story two authorities report at different time oscar H hershey chief geologist tor for such concerns as the bunker hill sullivan the federal mining in smelting smelling Sm elting company and other great mining corporations and D F hewett another authority of equal standing in the mining world have examined and reported on this great great prod pro erty both a agree 6 ree to the recommendations of I 1 E roc rockwell k aalt as to future developments in the mine with the immense financial backing of the federal minin smelting smelling Sm elting company and under tinder the direction of such experts as this company comp amy can command tin this s district is justified in anticipating great things from the mnnie moore in tb the e immediate future almost twelve millions it seems that the times news miner was ultra conservative in placing the value of the output of the minnie moore at in the detailed report prepared by I 1 E president of the minnie moore mines company the valt value of 0 I 1 the ore from the single minnie moore claim is placed at and from the queen of the hills g gro |
