Special Collections & Archives
Manuscript Group 283
Gold Hunter Mines
Records, 1918-1966
3 cubic feet
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. Initial processing of this manuscript group was done by Judith Nielsen in May 1987. Processing was completed under the direction of Michael Tarabulski in March 1992. 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.
COMPANY 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.
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.
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.
SERIES LIST
Container I. Records of the Board of Directors and the Stockholders, 1925-1962 1 II. General Correspondence and Related Records, 1918-1966 1 III. Capital Stock Records, 1925-1961 2 IV. Financial Records, 1923-1962 2 & os
GOLD HUNTER MINING COMPANY
INVENTORY
Box Folder Description
I. Records of the Board of Directors and the Stockholders, 1925-1962
1 1-2 Minutes, 1925-1962 3 By-laws and Articles of Incorporation, 1955 4 Records relating to meetings, 1958 5 Records relating to dissolution, 1961 6-7 Financial statements, 1931-1962
II. General Correspondence and Related Records, 1918-1966
8 A, 1953-1961 9 Appraisals, 1957-1962 10 Audit reports, 1919-1919; 1925-1938; 1948 11 Brennan, Mrs. Katherine R., 1951 12 C, 1953; 1960-1063 13 Consolidation (Rothrock, F.M.), 1947-1951 14 D, 1914; 1956-1957 15 Day. Henry L., 1943-1951 16 Day Mines, Inc., 1947-958 17 Deed to William Zanetti, Osburn tailings, 1954 18 F-G, 1060-1965 19 Friday, Lucky, Agreement, 1906; 1952-1954 20 Gold Hunter Mining Company, 1950-1955 21 H-I, 1954-1957 22 Insurance policies, 1962-1966 23 K-L, 1956-1958 24 Keane's notes, 1958 25 Lease: Hunter Ranch by Lucky Friday, 1951-1959 26 Lease: Tedrow & Treichel, 1954 27 Lease: Viehweg & Trenary, 1951-1954 28 Liquidation to Cincinnati file, 1961 29 M, 1935; 1952-1962 30 Maps: Lucky Friday (examination by W.D. Mark), 1947 31 Murphy, James D., 1945-1952 32-33 N, 1948-1957 34 New York Curb Exchange, 1947-1951 35 O-P, 1956-1958 36 Pilot Silver Mining Co., 1937-1946 37 Rehabilitation of property, 1950-1952 38 Rentals, Sign, 1957-1963 39 Repair costs to dwellings, 1952-1953 40 S, 1951-1958 41 Securities and exchange commission, 1951 42 Spokane Stock Exchange, 1951 43 Statement of operations, 1945 44 Taxes: Capital stock, 1930-1945; 1958 45 Taxes: Social Security, 1951-1953 46 Taxes: State of Minnesota, 1951-1960 47 Trial balances, work papers, journal entries, 1934-1950 48 U, 1955-1959 49 Zanetti brothers purchase of Osburn tailings flats, 1943; 1956-1960
II. Capital Stock Records, 1925-1961
2 50 Stock ledger and cancelled stock certificates, 1954-1961 51 Cancelled stock certificates, 1925-1961 52 Records relating to dividends, 1941-1949
III. Financial Records, 1923-1962
os 53 General ledger, 1923-1962 54 General ledger, 1950-1962 os 55 Financial ledger, 1925-1950 os 56 Financial journal, 1925-1948 57 Financial journal, 1950-1951 os 58 Insurance schedule, check register and voucher register, 1951-1959 59 Chicago cash account, 1937-1950 60 Statement of accounts with DMI, 1951-1952 61-64 Appraisal of Gold Hunter Mine, 1925 65 Appraisement of Gold Hunter Mine, 1951
June 1996 / mg283.htm
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