Roanoke Mining Company, Ltd. (Idaho)

Roanoke Mining Company, Ltd. (Idaho)
Item# 1877

Was: $12.95

NOW:
$9.95

       




Stock Certificate, unissued/uncanceled
Early 1900's
Goes
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The Roanoke Mining Company, Ltd., incorporated in 1907, had holdings in the Yreka Mining District, Shoshone County, Idaho. These properties were: the Dooley, Dooley #2, Dooley #3, Picket, Picket #2, Roanoke and Roan Oak #2 lodes. The corporation intended to extract commercially viable ores, chiefly lead and silver, from its seven claims.

Little progress was made in the Roanoke mines over the thirty-year life of the company. In 1925 the company was reinstated, after a four years of inactivity. Sometime between 1921 and 1925 the original by-laws and early records had been lost. New by-laws, noting the lack of earlier records, were adopted after the corporation's resurrection.

In 1926-1927, the time of greatest activity in Roanoke's history, development expenditures were over $13,000. The tunnels had been caved and in disrepair, requiring considerable work to clear and explore the mines. After 1927, nothing more was spent on development. A lease was granted to C.E. Plumtree in 1928, followed by a $1,500 loan. Plumtree's default resulted in Roanoke's final assessment in 1936 to cover expenses related to foreclosure on Plumtree's homestead. The mine proved so unproductive from 1932 to 1937 that Roanoke was unable to pay its bills, though expenditures were nominal. Finally, in 1937, Roanoke's board of directors (H.L. Day, F.M. Rothrock, W.B. Heitfeld, S.F. Heitfeld, and Herman Rossi) dissolved the corporation and conveyed its property to Hercules Mining Company, the majority stockholder with 1,114,750 shares.ID-Idaho Mining and Related Mining-Idaho Under $10 Allegorical Featured Allegorical America



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