Monitor Mining Company

Monitor Mining Company

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Monitor Mining Company
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Beautifully engraved Certificate from the Monitor Mining Company issued in 1945. This historic document has an ornate border around it with a vignettes of six mining scenes. This item is hand signed by the company's officers and is over 55 years old. In June 1940, John Wourms, R.W. Anno, H.J. Hull, S.F. Heitfeld, and Paul Jessup, all executives associated with the Day interests, incorporated the Monitor Mining Company under the laws of the State of Idaho, with the purpose of consolidating management of a number of properties in the Sunset Peak region north of Wallace. The authorized capitalization of the Monitor Mining Co. was two million shares, each with a par value of fifty cents. The first directors of Monitor were Wourms, who served as president; Anno, who became secretary; Hull, vice president; Jessup; and Henry Buhrmester. In December 1940, Henry Day became manager. From 1942 until Monitor's consolidation into Day Mines, Inc., the directors consisted of Henry Day, who succeeded Wourms as president; F.M. Rothrock; S.F. Heitfeld, who also served as secretary-treasurer; H.J. Hull; and Wray Farmin. Jessup served as comptroller and followed Wourms as company attorney. Throughout its brief existence of little more than seven years, the Monitor Mining Co. constantly acquired additional mines, properties, and stock in mining firms in the Beaver Mining District. By the time Monitor was absorbed into Day Mines, Inc. in 1947 it owned 162 patented claims, covering 2,133.5 acres, and an additional 53 unpatented claims. Most of these claims were in one contiguous group. Many of them had been productive in the decade preceding 1900 and had seen a great deal of activity during World War I. Through exchanges of stock the Monitor initially gained control of the property of the Amazon-Manhattan, Ray-Jefferson, Blue Grouse, and Virginia companies. In 1943 the Portland Mining Company similarly merged its 16 patented and 27 unpatented claims and a majority interest in six other unpatented claims. From the Interstate-Callahan, Monitor in 1945 acquired 79 patented and four unpatented claims, along with a controlling stock interest in the Silver State Mining Company, with its six patented claims adjacent to the Monitor's holdings. In 1945 Monitor also acquired the Reudy Group of nine claims and a mill site on Sunset peaks, and, in the following year, began development of the Galena property of the Vulcan Mining Co. and acquired the Hill property, the McGrath homestead property, and the Callahan cabin. In August 1942, to finance development, the Monitor Company borrowed $45,000 from its major stockholders. Of this sum, $12,500 came from Eleanor Day Boyce, $7,500 each from Henry Day, the Gallands, and the Paulsens, and $5,000 each from the Leonards and Albert Owes. The Monitor's exploration activities revived this long dormant area, resulting in the establishment of camps and plants at the portals of the Amazon 700 level and the Carlisle adit and the rehabilitation of the Ray-Jefferson mill as a flotation concentrator. Although Monitor leased out portions of its holdings and itself produced a considerable amount of lead and zinc ore during World War II, as a corporation it was not profitable, claiming a net loss of $320,500 during the last three years of its existence. It never paid dividends. On September 24, 1947, 89.26% of the Monitor stock was voted in favor of consolidation into Day Mines, Inc.


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