Special Collections & Archives
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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