Corbin Copper Co. - Stock Certificate
Inv# MS1012 Stock
Montana
CORBIN COPPER CO. MONTANA Office: 60 Congress St., Boston, Mass. Mine office: Butte, Mont. Officers: R. M. Edwards, pres. and gen. mgr.; Henry Tolman, treas.; Newton, Mass.; with S. L. Powers, Jos. C. Walker and T. S. Woods, directors; A. L. Wyman, sec. Inc. Dec. 24, 1908, in Michigan. Cap., $3,750,000; shares $25 par; assessable; amount issued, 130,000 shares; amount outstanding, 26,000 shares; amount in treasury, 124,000 shares; $8 per share paid in. Company sold 15,000 shares of treasury stock, early 1910, at $10. Federal Trust Co., Boston, registrar; American Trust Co., Boston, transfer agt. Stock is listed on the Boston Curb. Annual meeting, third Tuesday in April. Three assessments levied: $65,000 due February 11, $65,000 due April 22, $130,000 due November 14, 1913. Poor response was made to these and the company was forced to borrow $95,000 on its notes, giving, as guarantee, the unpaid assessments. Owing to lack of funds all work was stopped on Corbin property early in 1914. Statement filed in May, 1919, with County Clerk at Butte showed property and other assets of $672,665, and liabilities of $86,596, all unsecured. Property: company owns 57 mining claims, 45 patented, near Corbin, in Jefferson county. The 3 claims at Butte were sold to the Anaconda company. The Corbin group lies at the head of Clancy Creek, a few miles west of Corbin, on the western side of an andesite hill across from the Boston & Corbin mine. This property carries several strong fissure veins in andesite on which considerable exploration work has been done with disappointing results. A vein opened for 800' in the Rosalie tunnel carries up to 20 oz. silver and 7% copper, but is only 18" wide. The Montana tunnel shows a pyritized conglomerate with andesitc, dacite and aplite cobbles, the matrix containing small silver values in the upper tunnel, while the winze in the lower tunnel shows considerable pyritc. The Bonanza tunnel is driven on a tourmalinized granite dike in andesite, and in places the tourmaline rock carries galena and chalcopyrite with small amounts of zinc-blende and pyrite.
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