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Black Pine Silver Mines, Inc. records, 1924-1946

Overview of the Collection

Creator
Black Pine Silver Mines, Inc.
Title
Black Pine Silver Mines, Inc. records
Dates
1924-1946 (inclusive)
Quantity
10 linear feet of shelf space
Collection Number
MC 91 (collection)
Summary
The Black Pine Silver Mines, Inc. was a silver mining company in the Philipsburg, Montana, area. Records (1924, 1932-1942, 1946) include general correspondence, financial records, court papers, legal documents, and miscellany. Also included are records from the predecessor company, the Black Pine Mines, Inc., and a smaller subgroup for Combination Silver Mines, Inc., which bought the Black Pine property in 1936. [Maps and blueprints transferred to Library Map Collection.]
Repository
Montana Historical Society, Library & Archives
Montana Historical Society Research Center Archives
225 North Roberts
PO Box 201201
Helena MT
59620-1201
Telephone: 4064442681
Fax: 4064445297
mhslibrary@mt.gov
Access Restrictions

Collection open for research.

Languages
English
Sponsor
Funding for encoding this finding aid was provided through a grant awarded by the National Endowment for the Humanities.
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Historical Note

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.

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Content Description

The collection consists of two subgroups: Black Pine Silver Mines, Inc., which includes records of its predecessor Black Pine Mines, Inc.; and Combination Silver Mines, Inc. The Black Pine Silver Mines Inc. subgroup includes interoffice and general correspondence (1932-1941) interfiled, of the Missoula and Seattle general offices and of the Philipsburg mine office. In addition there are court papers (1932-1944), financial records (1932-1941), legal documents (1932-1936), organizational records (1932-1942), production records (1926, 1932-1946), reports (1933-1935), subject files, and miscellany. The Combination Silver Mines, Inc. subgroup includes general correspondence (1936-1942), court papers (1940), financial records (1936-1941), legal documents (1937-1939), organizational records (1936-1942), and miscellany.

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Use of the Collection

Restrictions on Use

Researchers must use collection in accordance with the policies of the Montana Historical Society. The Society does not necessarily hold copyright to all materials in the collection. In some cases permission for use may require additional authorization from the copyright owners. For more information contact an archivist.

Preferred Citation

Item description and date. Collection Title. Collection Number. Box and Folder numbers. Montana Historical Society Research Center, Archives, Helena, Montana.

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Administrative Information

Arrangement

Arranged by subgroup and series. Each correspondence series is arranged alphabetically by last name. Some material housed in manuscript volumes. Some material housed in oversize folder in archives map case. See inventory below for more information.

Location of Collection

5:5-6

Acquisition Information

Acquisition information available upon request

Separated Materials

Maps transferred to Library. See inventory below for more information.

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Detailed Description of the Collection

Detailed Description of the Collection

The following section contains a detailed listing of the materials in the collection

Finding aid prepared by MHS staff
2004

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