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In the early part of the year 1901 The Reed Investment Company, of which Mr. Verner Z. Reed is president and O. H. Shoup secretary, adopted a policy of working the properties which they controlled by the leasing system. They were among the first to inaugurate a longer time lease with a lower royalty, so that on all the properties which they control, there has been active development work carried on during the past year by lessees.
THE DANTE GOLD MINING COMPANY.
The Dante Gold Mining company own the Dante claim on Bull hill, which is surrounded by such well known mines as the Blue Bird, John A. Logan, Orphia May, Lucky Guss and others. During the past year there has been an average of over ten men a day at work upon the property. The production last year, however, was not as large as it was during the years just previous.
The main shaft is 450 feet in depth and the property is fully equipped with shaft house and machinery. The principal lessees of the property have tried to arrange with the owners of adjoining properties to drift from the bottom of one of the deep shafts into the Dante claim, at 1,000 feet in depth. So far the arrangement has not been made.
THE ROBERT BURNS MINING COMPANY.
The Robert Burns Mining company own the Robert Burns lode and mill site located on Guyot hill and the Jay Bird and the Maid claims located on Bull hill. During the past year the Jack Martin Leasing company has been actively developing the Robert Burns claim.
They began their work where the company stopped some time ago, when their treasury funds gave out, and have continued the drift in a southerly direction for over 350 feet, expecting to cut some of the dykes and leads known to exist in that section. In doing this work they have employed on an average of four men a day.
The leasing company seem well pleased with their showing and expect to encounter pay ore within a reasonable time. On the Bull hill properties of this company there is a lease in operation. The recent strike on the War Eagle claim is not far from the company's property.
THE FAUNTLEROY GOLD MINING CO.
The Fauntleroy Gold Mining company own the Little Fauntleroy claim on Gold hill, a part of the Garfield on Mineral hill and the Mary D., south of the town of Victor.
During the past year active development work has been done on the Little Fauntleroy claim and some ore has been shipped. The principal development work on the Fauntleroy claim was done in the Ophelia tunnel, which cuts this property at 278 feet from the surface.
Arrangements are about completed to have the work resumed in the tunnel.
THE ROSE NICOL GOLD MINING CO.
The Rose Nicol Gold Mining company own the Rose, part of the Big Banta, part of the Dexter and Last Effort, lying just north of the property of the Portland Gold Mining company.
The main shaft is down 450 feet and during the past year there have been from two to three sets of lessees working upon the property.
So far no ore has been shipped from the Rose Nicol properties, but the location of the company's ground is good.
THE GOLDEN TERRY MINING CO.
The Golden Terry Mining company are the owners of the Golden Terry and the Ruby claims, located on Carbonate hill, and during the past year the property has been worked by a lessee.
A tunnel was driven into the hillside 225 feet in length and then in addition thereto about 100 feet of drifting was done. From the bottom of the drift a winze was sunk forty feet in depth on a vein about three feet in width which showed values as high as $18.00.
THE TENDERFOOT HILL CONSOLIDATED MINING CO.
The Tenderfoot Hill Consolidated Mining company suspended operations on company account over a year ago. The company owns what was formerly the Alta Mont group and the Deadwood group, on Tenderfoot hill.
The main shaft is over 500 feet deep and the company have in the treasury a working capital of $26.000.00 in cash.
THE PRINCESS MINING CO.
The Princess Mining company are the owners of the Mollie Bell lode on Raven hill, adjoining the Elkton, and owns on Beacon hill the Little Mildred and Grey Eagle claims.
During the past year there has been a lease in operation on the Mollie Bell under Messrs. Clements and Osborne, who are also operating a lease on the Tornado, belonging to the Elkton company.