Archives West Finding Aid

The articles of incorporation of the Last Chance Copper Mining Company, a Montana Corporation, were filed on April 22, 1907; its term of existence was 20 years. The directors were listed as W.H. Nichols, president; George Champagne, vice-president; T.C. Witherspoon, treasurer; M.S. Burns, secretary; with B.M. Francis, and George E. Rockwood, as the other members. The capital stock, which was non-assessable, was $1,250,000 with a share par value of $1.00. The by-laws, which indicated that the president and vice-president received no compensation, were adopted at a stockholders meeting on May 22, 1907.

Edwin Pritchard was elected president in December 1912. When he died in February 1913, George Champagne was elected to replace him.

In October 1923 the directors, George Champagne, G.W. Dougherty, secretary, F.J. Davey, Peter Peterson, and H.J. Hull, president, amended the articles of incorporation making the stock assessable, increasing the capital stock, and extending the terms of existence to 40 years.

The original lode claims, located in the St. Regis mining district, Mineral County, Montana, included the Foch, Montana-Missoula, Buck, Buck Fraction, White Tail, Grouse, Bluebird, and Snow Shoe. In May 1928, Champagne, who was indebted to the company for $1831.45, presumably for nonpayment of stock assessments, conveyed his undivided one half interest in the Wilson, Apple, Samson, Rankin and Chief lode claims which were adjacent to the Last Chance property to the Last Chance Company for $5,000 to be paid by cancellation of the indebtedness and by setting up a credit on the company books against future assessments. On September 13, 1928, Jerome Day conveyed his half interest in the Wilson group to Last Chance. By 1931 the property consisted of two patented claims, the Crankey and Last Chance, and 13 unpatented claims.

Stock assessments failed to raise the revenue needed and Jerome Day frequently loaned the company money. In 1923 Day agreed to take stock in the company in lieu of cash. This brought his total stock holdings to 438,500 shares, making him the second largest shareholder, only Champagne owned more shares. Then in 1928 and again in 1930 the directors authorized the borrowing of $750.00 from the Wallace Bank and Trust Company. On June 19, 1939, to protect the property from forfeiture, a three year lease between the company and Irving Anderson and Charles Haff was approved. However, the following year, on June 3, 1940, the directors, H.J. Hull, president, John Wourms, vice-president, and R.W. Anno, secretary, authorized the sale of Last Chance to Jupiter Mining Company for 250,000 shares of Jupiter Stock with a par value of $25,000. Stockholders approved the sale on June 29, 1940.