Archives West Finding Aid

The Home Mining Company was incorporated in 1904 by Bennett Price, Frank L. Reece, Albert Kleinschmidt, W.H. Taylor, and John W. Eddy. Bennett Price was chosen first president and Frank Reece the general manager. The company owned the Earthquake and General Grant quartz lodes in Towsley Gulch in the Stemple Mining District west of Marysville, Montana. The Earthquake lode had been located in September 1880 by Bennett Price, J.H. Jurgens, and Wayne Brinton, as a re-location of Nathan Vestel's Viola V. lode. The General Grant lode had been located in March 1886 by Lawrence Walsh. In August 1888, the claims were consolidated under the ownership of the newly organized General Grant Mining Company, owned by the locators of the two claims. In 1900 Frank Reese commenced a series of lawsuits against the General Grant Mining Company for back wages owed to various parties. Eventually Reece, as trustee for the creditors, acquired the property at sheriff's sale. He then sold the property to the newly organized Home Mining Company, which consisted of the same group of men that owned the General Grant Mining Company.

Prospects for the mine were promising. It was in close proximity to the Drumlummon, Bald Butte, Penobscot, Gloster, and Empire mines, all rich gold mines. A report by G.C. Swallow in 1888 stressed this location in predicting great potential. Unfortunately, the mine never produced profitably. Instead of gold, the vein consisted primarily of lead with some silver and copper. Considerable tunnel and development work was done during the early 1900s, and some ore was taken out during the 1920s, worth about $5000. The work was financed by the sale of stock, principally to David P. Owen, president of the company.

In 1925 the owners attempted to save the company by reorganizing it as the Home Mining and Milling Company, with capitalization reduced from $50,000 to $25,000. Nevertheless, mining discontinued in 1927. During the 1930s most of the early owners died, including David P. Owen, Bennett Price, A.P. Heywood, and Frank Reece. Hugh P. Evans took over the running of the company. The heirs of the original owners hired Leverett S. Ropes to find a buyer for the company, without success. The company ceased business in 1955 and the corporate charter expired in 1965.