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.
The records of the Last Chance Mining Company span the years 1907 to 1940, with the bulk of the material covering the years 1924 to 1940. Included are company by-laws, minutes of meetings, financial statements, correspondence concerning mine operations, letters from stockholders, annual statements, agencies, stock ledgers and journals, cancelled stock certificates, assessment records, lists of stockholders, financial ledgers and journals, vouchers, check registers, and tax returns.
The records of the Last Chance Mining Company are divided into four series.
The first series, Records of the Board of Directors and the Stockholders, includes a minute book which also contains the articles of incorporation and by-laws, notices of meetings, agreements, lists of stockholders and financial records. A folder of related material includes notices of meetings, proxy statements, lists of stockholders, affidavits of publication, financial statements, and a map showing the relationship of the Ben Hur (Woodburn), Last Chance, and Bryan properties.
General Correspondence and Related Records, the second series, is comprised of an alphabetically arranged series of folders. Among the material included are annual reports, assays, a law suit involving the Ben Hur Mining Company, check stubs, correspondence with stockholders, correspondence with Frank J. Davey concerning mine operations, property transactions with Benson Evans, financial statements and invoices, leases, maps of the Last Chance property, Affidavits of Annual Representation and other legal documents, a 1934 stock audit, lists of stockholders, tax returns, and paid vouchers.
The third series is Capital Stock Records. Included are stock ledgers and a stock journal, cancelled stock certificates, and assessment notices and rolls.
The fourth series, Financial Records, contains a financial ledger and a check register.
Removal of cancelled stock certificates, returned assessment notices, vouchers, paid checks, bank statements, and duplicate materials reduced the size of this collection by two cubic feet.
The records of the Last Chance Copper Mining Company are part of the records of Day Mines, Inc., donated to the University of Idaho by Henry Day in 1984 and 1985.
Initial processing of this Manuscript Group was done by Judith Nielsen in June 1987.
This collection is indexed under the following headings in the online catalog. Researchers desiring materials about related topics, persons, or places should search the catalog using these headings.