Manuscript Group 258
1 cubic foot
The records of the Homestake 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 Leslie Smallwood and Judith Nielsen in June 1987. Processing was completed by Michael Tarabulski in January 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.
The Homestake Mining Company was incorporated December 6, 1909. Its property in the Hunter Mining District, near Mullan, Shoshone County, Idaho, consisted of 5 patented claims, the Ironcap, Bull Dog, Missoula, Gertrude, and Homestake, with an area of 12.711 acres.
The Homestake property had been extensively developed in its early years due to its proximity to the Hunter vein. The company's charter was forfeited in 1916, however, idling the mine for 27 years until its reinstatement in 1943 when the two surviving members of the board, James A. Wayne and William Stratton, met again. Most of the early records of the Homestake Mining Company were lost or destroyed during the interim.
The National Copper Mining Company played an important role in the history of the Homestake. National Copper purchased a controlling interest of 700,000 shares in Homestake in 1921, and increased its holdings to 1,238,955 shares in 1942, one year before Homestake was absorbed by the King Mining Company.
The Homestake Mine was considered National Copper's greatest asset. Control of the property was acquired by National Copper to secure the ground for a tunnel site. When National Copper suspended its own operations in 1921, the stockholders voted to invest in the further development of the Homestake. An agreement between National Copper and the Silver Reef Mining Company left the actual development work to the Silver Reef, and relieved National Copper of the $500-per-month caretaking expense the Homestake required.
During the time that Homestake was inactive, William Stratton, a director of Homestake, met the nominal expenses of the company out of his pocket. The $273 reinstatement fee was paid by National Copper, which also covered Homestake's operating expenses for 1941-1943.
Before Homestake's reinstatement, the surviving members of the board met to discuss the merger of Homestake with the newly-incorporated King Mining Company. Only William Stratton and James A. Wayne remained as directors after James F. McCarthy's death in 1943. The new directors elected in February 1943 (F.M. Rothrock, president; John Wourms, vice-president; Henry Burhmester, secretary-treasurer) resolved to sell the tools, machinery, equipment and claims to King in exchange for 50,000 shares of capital stock, to be distributed pro rata to Homestake's stockholders. One share of King was exchanged for 27 shares of Homestake.
Homestake Mining Company was dissolved in 1943. Its final board of directors F.M. Rothrock, John Wourms, and Henry Burhmester, served on the boards of King and National Copper concurrently.
The records of the Homestake Mining Company span the years 1909 to 1943 with the bulk of the material covering the years 1941 to 1943. Included are minutes of meetings, annual statements, stock records, tax returns and other financial records.
Since there are so few records for the Homestake Mining Company no series designations were made; however, the order follows that of other mining companies.
Minutes of meetings are available only for 1943, many of the earlier records of the company having been lost or destroyed. The general correspondence and related records, 1841-1945, includes annual statements, stock conversion records, certificates of incorporation and reinstatement, and tax returns. Among the Capital stock records, 1909-1943, are a ledger, a journal, cancelled stock certificates and assessment records. The financial records consist of a 1921 journal/ledger.
Box Folder Description
1 1 Minutes, 1943 2 Records relating to meetings, 1943
3 Annual statements, 1942-1945 4 Conversion of stock to King Mining Company stock, 1943 5 Certificate of Incorporation, deeds, proofs of labor, 1909-1913 6 Certificate of Reinstatement, 1943 7 M-R 8 Stockholders lists, 1942-1943 9 Taxes: capital stock returns 10 Taxes: Federal returns, 1941-1943 11 Taxes: Idaho returns, 1941-1943 12 Transactions, accounting
13 Ledger, 1921-1923 14 Journal, 1921-1924, 1929-1930, 1943 15 Cancelled stock certificates, 1909 16 Assessment records, 1943
17 Journal/ledger, 1921