Archives West Finding Aid

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.