Archives West Finding Aid

The Black Pine Mine (or Combination Mine, as it was sometimes called) was on Black Pine Ridge twelve miles northwest of Philipsburg. During the 1890s, it was operated by the Combination Mining and Milling Company which was made up of Charles D. McLure and others connected with the Granite Mountain Mining Company and the Bi-Metallic Mining Company. The property closed down in 1897 due to the low price of silver, and litigation brought by some of the minority stockholders forced the company into receivership. In 1916, McLure traded his interest in the Granite-BiMetallic Consolidated Mining Company for the other stockholders' interest in the Combination. As this gave McLure about 95 percent of Combination stock, he forced the receiver to sell and bought the mine himself. On Charles D. McLure's death in 1918, his estate, heavily in debt, came under litigation. In 1922, the estate was declared insolvent and the property sold. After considerable controversy, the McLure family finally acquired clear title to the Combination mine, with Edgar McLure as trustee. During this period, the mine was operated sporadically as a lease by W.R. McLure, Edgar's brother, and by the Hecla Mining Company of Wallace, Idaho, with an option to purchase. However, the property's ownership continued to be unstable. In 1931, a mortgage on the mine was foreclosed and the property was sold to Herbert Fay who, in turn, sold it to Walter L. Pope as agent for J.F. Harrington of Seattle. In May 1932, three of the McLure heirs, Edgar, Lillian, and Blanche, along with some Seattle capitalists, formed Black Pine Mines, Inc., to buy and operate the mine. In November 1932, Pope sold the property to the new company. Capital stock was issued for $500,000 with Harrington receiving the largest share and Edgar McLure, as trustee for the McLure family, the next largest portion. The new owners invested heavily in development work and in repair of the mill. Miners were hired and during 1933-1934 some ore was produced. However, the financial condition of the company became more and more precarious. In January 1935, the company decided to adjust its capitalization in order to secure operating funds. Authorized stock was reduced to $100,000 and then raised to $200,000. The name of the company was changed to Black Pine Silver Mines, Inc. Unfortunately, under this new organization, the company continued to be plagued by shaky finances and mismanagement. In the spring of 1936, a new company, Combination Silver Mines, Inc., was organized to buy the property, issuing stock in payment. Black Pine Silver Mines, Inc.'s existence continued only as the majority stockholder in the new company. A planned conversion of Black Pine to Combination stock never occurred. Combination Silver Mines, Inc., was no more successful than the previous companies, and the operation fell deeper and deeper in debt, while the officers continued to lease the mine, hoping that an operating mine would be more likely to find a purchaser than an idle one. There were many prospective lessees but no buyers. Finally in May 1940, stockholder August Buschmann, who had been advancing the company the money to keep the mine going, foreclosed his mortgage on the property and bought it at the sheriff's sale. August Buschmann's official position within the company was somewhat anomalous. He was neither an officer nor a director. However, as a major stockholder, he conducted much of the company's business for many years. After the year for redemption had passed, Buschmann acquired title to the mine and both Combination Silver Mines, Inc., and Black Pine Silver Mines, Inc., dissolved, being totally without assets.