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Guide to the Gold Hunter Mines Records ; Gold Hunter Mines Records

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Guide to the Gold Hunter Mines Records 1918-1966

Sponsor: Funds for processing were provided by the National Historical Publications and Records Commission, the U.S. Department of Education HEA Title II-C "Strengthening Research Library Resources" program, the Library Associates of the University of Idaho and other donors.Funding for encoding this finding aid was provided through a grant awarded by the National Endowment for the Humanities.


Overview of the Collection

Title: Records
Creator: Gold Hunter Mines
Dates: 1918-1966
Quantity: 3 cubic feet
Abstract:Minutes of meetings, financial statements, general correspondence, annual statements, stock ledger, cancelled stock certificates, financial ledgers and journals, appraisals, tax returns, and other records of a silver-lead mine in the Hunter Mining District of the Coeur d'Alene mining area of northern Idaho, organized successively as Gold Hunter Mining and Smelting Company, Gold Hunter Mines, and Gold Hunter Mining Company.
Identification: MG283
Language: English
Repository: University of Idaho Library Special Collections and Archives
Moscow, ID 83844-2351

Arrangement and Description

The records of the Gold Hunter Mining Company are divided into four series.The first series, Records of the Board of Directors and the Stockholders, includes by-laws, certificate of incorporation, records relating to the dissolution of the company, notices and minutes of meetings, proxy statements, and financial statements. The earlier minutes, 1925-1949, were originally contained in a bound volume, but due to the poor condition of the book the material was removed and placed in file folders.General Correspondence and Related Records, the second series, consists of an alphabetical sequence of folders containing correspondence regarding the operation of the mine, appraisals, audits and property valuation schedules, correspondence with Katherine Brennan, daughter of a previous owner, Dennis Ryan regarding the Day Mines takeover of Gold Hunter and other information on the same subject, agreements, leases, deeds, and other legal documents, insurance policies, tax returns, and trial balances.The third series is Capital Stock Records. Included are a stock ledger and cancelled stock certificates, and dividend records from the years 1941-1949.The fourth series, Financial Records, contains financial ledgers and journals, check and voucher registers, statements of Gold Hunter's account with Day Mines, and two appraisals dated 1925 and 1951.Removal of cancelled stock certificates, returned assessment notices, vouchers, paid checks, bank statements, and duplicate materials reduced the size of this collection by 3 cubic feet.

Scope and Content

The records of the Gold Hunter Mines Company span the years 1918 to 1966, with the bulk of the material covering the years 1950 to 1965. Included are minutes of meetings, financial statements, correspondence concerning the operation of the mine and its takeover by Day Mines, Inc., annual statements, stock ledgers and journals, cancelled stock certificates, lists of stockholders, financial ledgers and journals, voucher and check registers, appraisals, and tax returns.


Administrative/Biographical History

When Gold Hunter Mines was incorporated January 24, 1925, as a Minnesota corporation, it purchased from Gold Hunter Mining and Smelting Company (incorporated in Minnesota March 20, 1913) all its business, property and effects, real estate, and personal property for 19,993 shares of new stock. The new company had a capitalization of 20,000 shares, par value $10.00. The property consisted of 12 patented claims (160 acres) in the Hunter Mining District near Mullan, Idaho. It boasted a complete and modern plant with an electric hoist, two compressors, pumps, and a machine and blacksmith shop. The mill had a 400 ton compressor, including flotation process. In 1945 zinc flotation machinery was added to the plant.

At the time of the reorganization the Gold Hunter was one of the major lead-silver producers in the Coeur d'Alene district. The main haulage tunnel was 7600 feet long and the shaft was 1500 feet deep. Soon after, a second shaft of 600 feet was dug. The original directors were Edward C. Hennessy, president, Thomas F. Keeley, secretary-treasurer, John B. McCormack, Paul Noak, Andrew Bracken, Edward K. Brennan, and Kate A. Lawler.

At the annual meeting in December 1925, a dividend of $50,000 was declared; others were declared at various times through 1943. There was also, in 1925, a decision made to purchase a controlling interest in the adjoining Atlas Mining Company. In 1937 Atlas levied an assessment against its outstanding stock which Gold Hunter, now headed by Olive Keeley, decided not to pay. Its stock was returned to the Atlas treasury, a move which precipitated a prolonged law suit, Gold Hunter claiming the Atlas stock it held should be non-assessable. The suit was settled out of court late in 1938 when Atlas agreed to pay Gold Hunter $75,000 for all of its stock which Gold Hunter held. Shortly after this agreement was signed, Hecla announced its plans to purchase 51% of Atlas.

In 1944 an IRS audit of returns for 1941, 1942, and 1943 revealed a $5,654.90 deficiency in taxes paid. This money was duly paid and negotiations were started on the purchase of the Cincinnati group of claims to the north of Gold Hunter, but the asking price was too high and negotiations ceased.

In 1933 production slowed and the Gold Hunter property was leased to Messrs. L.M. Norris, Jack Leonard, and Gus Almquist and unsuccessful inquiries were made about selling the mine. By 1946 the lessees reported that they were operating at a loss and requested money from the company to cover these losses or they would be forced to cancel the lease. In 1947 it was realized that the ore bodies were not sufficient to keep the mine open much longer and the unwatering of the mine below the 600 foot level was discussed. Norris notified the company he could no longer afford to lease the mine and his lease was cancelled; he was named mine manager at a salary of $5,000 per year, a salary which was raised to $7,500 in December.

The mine was still being operated at a loss in 1948, and in February the stockholders were warned the mine might have to close. They were told that the mine was an old property that had been worked for many years and all exploration and development had been intelligently done; it was hard to believe any important ore bodies had been overlooked. Average production of the mine over the years was 4.3% lead and 4.11 oz. silver. Much money had been expended unwatering the mine from the 600 to the 1200 foot level.

In July 1946 James D. Murphy, president of Gold Hunter, wrote Lucky Friday, Eagle Pitcher, Day Mines, and Federal Mining and Smelting seeking an avenue of escape in the event the property had to close and sought to interest these companies in a lease or purchase of the Gold Hunter property. Day Mines showed considerable interest but nothing was made final. In the early summer of 1949 the mine was forced to close, and in 1951 all of the officers resigned. By 1953 Henry L. Day had become president of the company which then consisted of 11 patented claims and four patented millsites. The mine was unwatered to the 800 foot level and work on rehabilitating the shaft was begun. On January 10, 1955, the company was reorganized into the Gold Hunter Mining Company, with a capitalization of 2,000,000 shares, par value 10 cents. By 1959 the property consisted of 15 patented claims, five unpatented claims, and four patented millsites. In 1961 Gold Hunter Mining Co. merged into Day Mines, Incorporated, thus ending its corporate existence.


Subjects

This collection is indexed under the following headings in the online catalog. Researchers desiring materials about related topics, persons, or places should search the catalog using these headings.

Idaho
Mines and Mineral Resources

Gold Hunter Mines
Gold Hunter Mining and Smelting Company
Gold Hunter Mining Company

Lead mines and mining -- Idaho -- Coeur d'Alene Mining District -- History -- Sources
Mining corporations -- Records -- Idaho -- Coeur d'Alene Mining District
Silver mines and mining -- Idaho -- Coeur d'Alene Mining District -- History -- Sources

Administrative Information

Source

The records of the Gold Hunter Mines are part of the records of Day Mines, Inc., donated to the University of Idaho by Henry Day in 1984 and 1985.

Processing Information

Initial processing of this manuscript group was done by Judith Nielsen in May 1987.


Detailed Description of the Collection

Series I. Records of the Board of Directors and the Stockholders 1925-1962
box-folderbox-folder
1/1-21/1-2Minutes 1925-1962
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1/31/3By-laws and Articles of Incorporation 1955
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1/41/4Records relating to meetings 1958
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1/51/5Records relating to dissolution 1961
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1/6-71/6-7Financial statements 1931-1962
Series II. General Correspondence and Related Records 1918-1966
box-folderbox-folder
1/81/8A 1953-1961
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1/91/9Appraisals 1957-1962
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1/101/10Audit reports 1919-1919; 1925-1938; 1948
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1/111/11Brennan, Mrs. Katherine R. 1951
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1/121/12C 1953; 1960-1063
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1/131/13Consolidation (Rothrock, F.M.) 1947-1951
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1/141/14D 1914; 1956-1957
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1/151/15Day. Henry L. 1943-1951
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1/161/16Day Mines, Inc. 1947-1958
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1/171/17Deed to William Zanetti, Osburn tailings 1954
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1/181/18F-G 1960-1965
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1/191/19Friday, Lucky, Agreement 1906; 1952-1954
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1/201/20Gold Hunter Mining Company 1950-1955
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1/211/21H-I 1954-1957
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1/221/22Insurance policies 1962-1966
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1/231/23K-L 1956-1958
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1/241/24Keane's notes 1958
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1/251/25Lease: Hunter Ranch by Lucky Friday 1951-1959
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1/261/26Lease: Tedrow & Treichel 1954
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1/271/27Lease: Viehweg & Trenary 1951-1954
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1/281/28Liquidation to Cincinnati file 1961
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1/291/29M 1935; 1952-1962
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1/301/30Maps: Lucky Friday (examination by W.D. Mark) 1947
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1/311/31Murphy, James D. 1945-1952
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1/32-331/32-33N 1948-1957
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1/341/34New York Curb Exchange 1947-1951
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1/351/35O-P 1956-1958
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1/361/36Pilot Silver Mining Co. 1937-1946
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1/371/37Rehabilitation of property 1950-1952
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1/381/38Rentals, Sign 1957-1963
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1/391/39Repair costs to dwellings 1952-1953
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1/401/40S 1951-1958
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1/411/41Securities and exchange commission 1951
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1/421/42Spokane Stock Exchange 1951
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1/431/43Statement of operations 1945
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1/441/44Taxes: Capital stock 1930-1945; 1958
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1/451/45Taxes: Social Security 1951-1953
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1/461/46Taxes: State of Minnesota 1951-1960
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1/471/47Trial balances, work papers, journal entries 1934-1950
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1/481/48U 1955-1959
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1/491/49Zanetti brothers purchase of Osburn tailings flats 1943; 1956-1960
Series II. Capital Stock Records 1925-1961
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2/502/50Stock ledger and cancelled stock certificates 1954-1961
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2/512/51Cancelled stock certificates 1925-1961
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2/522/52Records relating to dividends 1941-1949
Series III. Financial Records 1923-1962
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os/53os/53General ledger 1923-1962
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os/54os/54General ledger 1950-1962
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os/55os/55Financial ledger 1925-1950
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os/56os/56Financial journal 1925-1948
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os/57os/57Financial journal 1950-1951
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os/58os/58Insurance schedule, check register and voucher register 1951-1959
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os/59os/59Chicago cash account 1937-1950
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os/60os/60Statement of accounts with DMI 1951-1952
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os/61-64os/61-64Appraisal of Gold Hunter Mine 1925
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os/65os/65Appraisement of Gold Hunter Mine 1951

Profile Description

Creation: Encoded by ArchProteus2003
Language: Finding aid is in English

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