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Manuscript Group 268

Sherman Lead Company

Records, 1918-1953
23.5 cubic feet


The records of the Sherman Lead 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 Leslie Smallwood in August 1987. Processing was completed by Michael Tarabulski and Harriet Essiam in February 1992. Funds for processing were provided by the National Historical Publications and Records Commission, the U.S. Department of Education HEA Title II-C "Strengthening Research Library Resources" program, the Library Associates of the University of Idaho and other donors.

COMPANY HISTORY

When the Sherman Development Company found itself unable to meet a mortgage payment due on July 1, 1918, its board of directors concluded an agreement with Eugene R. Day wherein he would receive 51 percent of the company's capital stock in exchange for $153,000. Subsequently the company treasury could not produce the 1,020,000 shares of stock constituting E.R. Day's portion. Thereupon the company was reorganized.

The new firm, called the Sherman Lead Company, took over all real and personal property belonging to Sherman Development Company and issued 3.5 million shares of capital stock at a par value of twenty-five cents. Sherman Lead's board of directors were P.J. Maggy, Axel Swan, Charles McKinnis (also serving as the company's first manager), Harry R. Allen and Walter B. Heitfeld. At the first board meeting Heitfeld resigned and Eugene Day was elected to the board to become the firm's first president.

Of Eugene Day's $153,000, $100,000 went directly into the purchase of land. Eugene assigned his interest to the Tamarack & Custer Consolidated Mining Company, making Sherman Lead a subsidiary of Tamarack & Custer, which it remained for the remainder of its corporate life.

Sherman Lead held twelve patented claims and one patented millsite over 97 acres. The claims were: the Sherman, Union Fracture, Union, Bengal Tiger, Hidden Treasure, Burke-Tiger, Bullion, Oreano, Sinker, Pearl, Pearl Fracture, and Moonlight. The mill was named the Bullion.

Jerome Day was elected president of Sherman Lead in 1922, an office which he held until his death in 1942. During the earlier years the company was often strapped financially, having to borrow money to meet expenses. A fire in 1923 destroyed the company's surface structures and buildings. The mines were producing again by 1926, however, and in 1928 Sherman Lead increased its capital stock by 175,000 shares in a successful attempt to acquire the assets of Oreano Mining Company.

By 1929, after six years of development, large reserves were discovered and Sherman Lead paid its first dividend. But in the following year Sherman shut down due to low metal prices. The mine frequently reopened and closed, being completely idled for the latter half of 1931, from July 1935 to June 1936, and again in June 1938 -- but, it paid a 12-mill dividend in 1937.

The 1940s were more prosperous. By 1942 the war effort was receiving 72 percent of Sherman's total production, more than 400 tons of lead per month, and higher grade ore production had to be stopped in order to make available as much lead as possible. Dividends were paid every year from 1941-1947.

Sherman Lead's years of greatest production were 1929, 1941 (the year unions were established in its mines), and 1942. The property value of the corporation's holdings increased from $100,000 in 1918 to $3 million in 1942. During the firm's twenty-nine year history, stockholders received a total of $797,475 through 14 dividend payments.

In 1947 the Sherman Lead Company was consolidated with other Day interests to form Day Mines, Inc. The Sherman Mill, constructed near the portal of the Hercules mine in the early 1940s, operated steadily until 1942.

SCOPE AND CONTENT

The records of the Sherman Lead Mining Company span the years 1918 to 1953, with the bulk of the material covering the years 1929 to 1947. Included are minutes of meetings, financial statements, correspondence with suppliers and stockholders, annual statements and reports to state agencies, stock ledgers and journals, cancelled stock certificates, assessment records, lists of stockholders, financial ledgers and journals, vouchers, check registers, and tax returns.

Related materials can be found in the records of the Sherman Development Company.

ARRANGEMENT AND DESCRIPTION

The records of the Sherman Lead Mining Company are divided into seven series.

The first series, Records of the Board of Directors and the Stockholders, includes minutes of meetings and annual reports.

General Correspondence and Related Records, the second series, contains three alphabetical files with correspondence with suppliers and stockholders, accident reports, assays, contracts, financial statements, ore shipment records, and reports to government agencies.

The third series is Capital Stock Records. Included are stock ledgers and journals, transfer correspondence, assessment records, and lists of stockholders. Item 330, an assessment journal also contains assessment information for Copper King, Crystal Lead, Happy Day, Imperial, Oreano, and Dayrock mines.

The fourth series, Financial Records, contains financial ledgers and journals, an appraisal of the mine and equipment, depletion and depreciation statements, financial statements, cash books, and voucher registers.

Ore Production and Shipment records in series five consist of ore records, composite summaries, and shipment assay records.

Personnel Records, the fifth series, includes payroll and other wage information, and employee time sheets and shift reports.

Tax Records, the final series, consists of material relating to unemployment compensation withholding, dividend payments, capital stock tax records, and Idaho tax records.

Removal of cancelled stock certificates, returned assessment notices, vouchers, paid checks, bank statements, and duplicate materials reduced the size of this collection by 18.5 cubic feet.

SERIES LIST

								Container
I.	Records of the Board of Directors and the Stockholders, 1918-1947	1
II.	General Correspondence and Related Records, 1918-1948	2-7
III.	Capital Stock Records, 1919-1947	8-15
IV.	Financial Records, 1919-1947	16
V.	Ore Production and Shipment Records, 1928-1947	17
VI.	Personnel Records, 1918-1947	17-24
VII.	Tax Records, 1921-1948	24

SHERMAN LEAD MINING COMPANY
INVENTORY

Box Folder Description

I. Records of the Board of Directors and the Stockholders, 1918-1947

1	1-2	Minutes, 1918-1947
	3-14	Records relating to meetings, 1918, 1922-1947
	15	Annual reports (printed), 1929-1946
	16-17	Annual reports (typed), 1927-1947

II. General Correspondence and Related Records, 1918-1948

2	18	A, 1919-1941
	19-24	Accidents, 1937-1942
3	25	Accounting, Classification of, n.d.
	26	Agreements, 1918-1923
	27	Ahlers, J.R., Metallurgist, 1940
	28	American Cyanimid Company, 1940-1941
	29	American Smelting & Refining Co., 1930-1941
	30	Annual reports and statements, 1923-1931
	31	Assays, 1926-1940
	32	B, 1920-1941
	33	C, 1923-1941
	34	Cable, Hoisting, 1937
	35	Compressor, 1926-1929
	36	Continental Oil Company, 1928
	37-40	Contracts, 1919-1930
	41	Costs, 1929-1930
	42	Cost apportionment, Mining, 1939-1940
	43	Crusher, Symons cone, n.d.
	44	D, 1931-1941
	45	Day, Henry Lawrence, 1926-1941
	46	Dayrock Mining Co., 1925-1929
	47	E, 1930-1941
	48	Equipment, 1937
	49	F-H, 1920-1941
	50	Hecla Mining Co., 1929
	51-53	Hercules bills, 1927-1932
	54	Hercules Mining Co., 1929-1940
	55	Hoist, 1929-1938
	56	Humming Bird Mining Co., 1925-1932
	57	I, 1930-1941
	58	Idaho, University of, 1936-1938
	59	Insurance, Accident, 1937-1941
	60	Insurance, State Insurance Fund, 1937-1945
	61	Idaho Mining Association, 1928-1938
	62	Idaho, State of, 1918-1930
	63	J, 1921-1941
	64	Jig tests by R.D. MacAfee, 1939
	65	K-M, 1925-1941
	66	Labor, U.S. Department of, 1937-1939
	67	Lead Industries Association, 1937-1941
	68	Leases, 1927-1937
	69	Marsh Mines Consolidated, 1919
	70	McGuigan, Philip T., 1928-1937
	71	Minerals Separation North American Corp., 1940
	72	Montana Power Company, 1928-1937
	73	N, 1923-1941
	74	National Industrial Information Committee, 1940
	75	Nordberg Manufacturing Co., 1941
	76	O, 1929-1941
	77	Oliver United Filters, Inc., 1940
	78	Oreano Mining Company, 1927-1941
	70-80	Ore, Carbonate, 1930-1940
4	81	Ore, Carbonate, Mining, 1929-1939
	82-83	Ore settlements, East Helena Smelter ASARCO, 1941
	84	P, 1928-1941
	85	Premium affidavits, 1945-1948
	86	Premium affidavits, Vic Seminza lease, 1945-1946
	87	Premium records, 1945-1947
	88	Press-Times Publishing Co., 1931-1937
	89	R, 1928-1940
	90	Reports and maps, 1925-1926
	91	Reports, Progress, 1927-1941
	92	Reports, Miscellaneous, 1940
	93	Reports, Timekeeper's, 1928-1929
	94	Rock raise, 1929
	95	S, 1919-1939
	96	Scales, 1940
	97	Seattle Mining Exchange, 1934
	98	Sherman Development Co., 1920-1922
	99	Shoshone Credit Association, hired & quit, 1937-1941
	100	St. Joseph's Orphanage, Slickpoo, Idaho, 1941
	101-102	Statements, Financial, 1928-1939
	103	Standard Stock Exchange, 1934
	104	Summary, Monthly, 1928
	105	T, 1922-1941
	106	Tax, Capital Stock, 1920-1916
	107	U, 1926-1941
	108	U.S. Bureau of the Census, Bureau of Mines, 1928-1941
	109	U.S. Internal Revenue Service, 1922-1929
	110	U.S. Department of Labor, Wage and Hour Division, 1941
	111	U.S. Office of Production Management, 1941
	112	U.S. War Production Board, Quotas, Metallic premium payment, 1942-1945
	113	V-Z
	114	A, 1942-1945
	115-118	Accidents, 1943-1945
5	119	American Smelting & Refining Co., 1942-1945
	120	ASARCO crude carbonate ore schedule, 1939
	121	Anaconda Copper Mining Co., 1937
	122	B, 1942-1944
	123-124	Bond fund, Employee, 1942-1946
	125	Bunnell, Everett C., 1943
	126	By-laws, 1918-1929
	127	C, 1942-1946
	128	Contract, Hercules, 1940
	129	Contract, Wilson & Geo. Meyer & Co., soda ash, 1942
	130	Cresylic acid, 1941-1942
	131	D, 1942-1943
	132	Dredge fund, 1943
	133	E, 1942-1945
	134	Employment, Quits and reasons, 1942-1943
	135	F-I, 1942-1945
	136	Idaho Mining Association, 1942-1945
	137	Idaho. Division of Industrial Hygiene. Dust study, 1942
	138	Idaho. Inspector of Mines, 1943
	139	Insurance, Accident, 1942
	140	Insurance, Idaho Compensation Co., 1945
	141	Insurance, State Insurance Fund, 1942-1945
	142	International Mine, Mill and Smelter Union Workers, 1942-1945
6	143	J-L, 1942-1945
	144	Labor recruitment, San Francisco
	145	Labor, C.I.O. grievance cases, 1941-1943
	146	Lease: Union vein, Vic Smenza, 1946
	147	M, 1942-1945
	148	Maps, 1928-1929
	149	Mill, 1940-1941
	150	Minerals Separation North America Corporation, 1942
	151	N-O, 1941-1946
	152	Northern Pacific Railway Co., 1919
	153	Oliver United Filters, Inc., 1942
	154	P, 1941-1945
	155	Payroll, 1942-1943
	156	Prints, Sherman Mill
	157	Priorities, 1941
	158	Q-R, 1942-1944
	159	Reports, Accident, 1942-1946
	160	Reports, Miscellaneous, 1942
	161	Reports, Production, 1942-1946
	162	Reports, Progress, 1942-1946
	163	Retroactive wages paid, 1943-1946
	164	S, 1941-1946
	165	Shoshone Credit Association, 1941-1946
	166	Silicosis waiver, Badgley, 1944
	167	Soldiers, Request for release, 1943
	168	Standard Stock Exchange, 1942
	169-173	Statements, Financial, 1927-1930; 1940
	174	T, 1942-1946
	175	Tamarack and Custer Consolidated Mining Co., 1918-1930
	176	Tax, Capital stock, 1945
	177	Testing, 1941
	178	Timbers, 1933-1938
	179	Tunnel rental, 1937-1938
	180	U, 1942-1945
	181	Unemployment Compensation Division, Industrial Accident Board, 1942-1944
	182	U.S. Bureau of Mines form 6-953, 1941-1945
	183	U.S. Bureau of Mines, Federal Explosives Act licenses, 1942-1945
	184	U.S. Internal Revenue Service, 1941-1944
	185	U.S. Dept. of Labor, Bureau of Labor Statistics, 1942-1945
	186	U.S. Office of Price Administration, 1942-1945
	187	U.S. Office of Defense Transportation, 1942
	188	U.S. Nonferrous Metals Commission, 1942-1943
	189	U.S. Nontaxable bonus income, Excess profits tax, 1944-1945
	190	U.S. Treasury Dept. Foreign dividend checks and silver affidavits, 1940-1942
7	191	U.S. War Department, Headquarters Northern Security District, 1943-1944
	192	U.S. War Production Board, 1942-1943
	193-194	U.S. War Production Board, Purchasing Quotas, 1942-1944
	195	U.S. War Production Board, Construction Machinery Board, 1942
	196	U.S. War Manpower Commission, 1943
	197	V-W, 1942-1944
	198	Vacations, 1941-1942
	199	Vein, 1928; 1941
	200	Wages, 1937-1941
	201	Western Union Mining Co., 1929
	202	X-Z, 1943
	203	A, 1946-1947
	204	Anaconda Copper Mining Co., Ore contract, 1930
	205	ASARCO, 1946-1947
	206	B-C, 1946-1948
	207	Contracts, Hospital, 1927-1944
	208	D-R, 1945-1947
	209	Reports, Accident, 1946-1948
	210	Reports, Office of Price Administration, annual and quarterly, 1942-1946
	211	Reports, Production, 1946-1948
	212	Reports, Progress, 1946-1948
	213	S, 1946-1947
	214	Shoshone Credit Association, 1947
	215	Silicosis waiver, L.J. Doyle, 1942
	216-217	Statements, Financial, 1946-1947
	218	T-Z, 1946-1947
	219	Tax, Annual return of income, 1942-1946
	220	Trucks, 1945-1947
	221-222	Union of Mine, Mill and Smelter Workers, 1941-1946
	223	War Production Board, Quota Commission, 1942-1947
	224	Miscellaneous: Annual Report, Idaho, 1931-1948
	225	Annual Statement, 1932-1948
	226	Seattle Curb Exchange, Tacoma Stock Exchange, 1918-1929
	227-229	Securities and Exchange Commission application for permanent registration, 1935-1947
	230	Securities and Exchange Commission reports, 1943-1946
	231	Spokane Stock Exchange registration, 1934-1935
	232	U.S. Bureau of Mines, 1943-1947

III. Capital Stock Records, 1919-1947

8	233	Stock ledger, 1919-1928
	234	Stock ledger, 1927-1938
9	235-236	Stock ledgers, 1928-1946
10	236-238	Transfer stockholders ledgers, 1940-1947
	239-241	Stock journals, 1919-1941
11	243-251	Transfer correspondence, A-F, 1919-1945
	252	First National Bank, 1928-1941
	253-255	Ford, Frank D., 1928-1945
	256	G, 1925-1945
	257-259	Gibson, E.J. & Co., 1925-1945
	260-261	H, 1920-1945
	262	Howarth, Chester J., 1925-1940
	263	Howarth, James F., 1935-1945
	264-265	I-K, 1926-1941
12	266	L, 1930-1945
	267	Logan & Bryan, 1928-1938
	268-269	M, 1927-1941
	270	McAllister, Harry C., 1922-1941
	271	N, 1927-1945
	272	Nicholas, William A., 1920-1945
	273	O, 1937-1941
	274	O'Brien, Tom J., 1929-1942
	275	P, 1928-1945
	276-279	Pennaluna and Company, 1925-1945
	280	Pohlman, L.S. & Company, 1922-1934
	281-282	Preston & Raef, 1929-1945
	283	R, 1930-1941
	284	Rothrock, F.M., 1925-1941
	285-291	S-W, 1919-1945
	292	Wallace Bank & Trust Company, 1929-1937
	293	Whaley, A.A., 1930-1937
	294	Y-Z, 1920-1926
13	295-300	Transfer correspondence: A-F, 1940-1947
	301-302	Ford, Frank D., 1942-1947
	303	First National Bank, 1940-1946
14	304	G, 1943-1945
	305-308	Gibson, E,J,, 1942-1947
	309-310	H, 1941-1947
	311	I-L, 1942-1946
	312	Lavigne, Edwin & Co., 1942-1947
	313	M, 1942-1947
	314-315	Merrill Lynch, Pierce, Fenner, & Beane, 1942-1947
	316	N, 1942-1947
	317	O, 1944-1947
	318	O'Brien, J. Tom, Co., 1942
	319	P-R, 1942-1947
	320-321	Pennaluna & Co., 1942-1947
	322-323	Preston & Raef, 1942-1947
	324-325	S, 1942-1947
	326-327	Standard Securities Corporation, 1942-1947
	328	T-Z, 1942-1947
	329	Washington Trust Company, 1942-1947
o.s.	330	Assessment journal, 1925-1927
15	331-335	Assessments 1-7, 1925-1927
o.s.	336	Dividend record, 1930-1947
	337	Correspondence relating to dividends, 1930-1947
	338	Lists of stockholders, 1922-1947

IV. Financial Records, 1919-1947

	339	General ledger number 1, 1919-1927
	340	Ledger, 1928-1947
	341	General ledger transfer, 1928-1944
	342	General journal number 1, 1919-1926
o.s.	343	General journal number 2
o.s.	344	Transfer expense ledger, 1941-1945
	345	Expense ledger, 1946-1947
	346	Appraisement by General Appraisal Co., 1946
	347	Depletion, 1929-1947
	348	Depreciation statements, 1940-1947
	349-350	Financial statements, 1923-1930
	351	Net profit statements, 1928-1930
o.s.	352	Cash book, 1928-1933
o.s.	353	Cash book, 1941-1947
o.s.	354-357	Voucher registers, 1926-1947

V. Ore Production and Shipment Records, 1928-1947

o.s.	358	Ore record, 1928-1947
17	359-361	Monthly composite summaries, 1946-1947
	361a	Shipment assay record, 1927-1930

VI. Personnel Records, 1918-1947

	362	Payrolls, 1918-1919
	363	Retroactive wages paid for 1942
	364-365	Employee payrolls, 1943
18	366-371	Administrative payroll and related records, 1942-1947
	372-383	Employee time sheets, 1942
19	384-415	Employee time sheets, 1943-1947
20	416-438	Shift reports, 1928-1930
21	439-442	Shift reports, 1937
	443-444	Daily summaries, 1929-1930
22	445	Daily summaries, 1931
	447-460	Shift reports and summaries, 1938-1942
23	461-472	Shift reports and summaries, 1942-1945
24	473-478	Shift reports and summaries, 1945-1946

VI. Tax Records, 1921-1948

	479-484	Records relating to unemployment compensation withholding, 1942-1947
	485	Return of income tax withheld on wages, 1943-1947
	486	Summary of reports of dividend payments, 1945
	487	Capital stock tax records, 1921-1945
	488	Idaho tax records, 1931-1948

mg268.htm / February 1995

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