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Manuscript Group 286

Last Chance Copper Mining Company

Records, 1907-1940
1 cubic foot


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. Processing was completed under the direction of Michael Tarabulski in March 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

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.

SCOPE AND CONTENT

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.

ARRANGEMENT AND DESCRIPTION

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.

SERIES LIST

							Container
I.	Records of the Board of Directors and the Stockholders, 1907-1940	1
II.	General Correspondence and Related Records, 1908-1940	1
III.	Capital Stock Records, 1907-1940	1
IV.	Financial Records, 1924-1940	1

LAST CHANCE COPPER MINING COMPANY
INVENTORY

Box	Folder	Description                

I. Records of the Board of Directors and the Stockholders, 1907-1940

os	1	Minute book, 1907-1940
1	2-3	Records relating to meetings, 1923-1940

II. General Correspondence and Related Records, 1908-1940

	4	A, 1912-1940
	5	B, 1919-1939
	6	Bank records, 1924-1935
	7	C, 1927-1936
	8	Champagne, George, 1908-1939
	9	D, 1915-1924
	10	Dissolution, Petition for, 1940
	11	Day, Jerome J, 1915-1940
	12	Evans, Benson. Property transactions, 1915-1918
	13	F-H, 1923-1940
	14	Intention to hold mining claims, 1935
	15	J, 1925-1940
	16	Jupiter Mining Company, 1940
	17	Lease: Haff & Anderson, 1939
	18	M, 1931-1940
	19	Maps of Last Chance property and surrounding claims, n.d.
	20	N-S, 1907-1939
	21	Stock audit, 1924
	22	Stockholders, 1923-1936
	23	T, 1914-1939
	24	Taxes: Assessment of net proceeds of mines, 1923-1934
	25	Taxes: Corporation license tax, 1922-1939
	26	Taxes: Corporation income tax returns, 1922-1940
	27	Vouchers paid, 1936-1940
	28	W, 1931

III. Capital Stock Records, 1907-1940

	29	Stock ledger 1907-1916
	30	Stock ledger, 1907-1940
	31	Stock journal, 1907-1916
	32	Cancelled stock certificates, 1924-1940
	33-34	Records relating to assessments, 1924-1939

IV. Financial Records, 1924-1940

	35	Financial ledger, 1924-1934
	36	Check register, 1936-1940

mg286.htm / March 1995

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