The Butte Inter Mountain

SPECIAL TO THE INTER MOUNTAIN.

Lewistown, April 20.-It is authoritatively announced that the big mining deal, in which the Kendall properties were involved, is off so far as the Chicago men are concerned.

According to the agreement made when the negotiations were begun, the company was to have until March 1 to make examination of the properties. At the expiration of that time all of the reports had not been completed and an extension of 30 days, or until April 1, was granted.

On that date the syndicate failed to make the payment binding the bargain and negotiations were declared closed.

The deal was one of the most gigantic ever attempted in the history of Western mining and it does not detract in the least from the promise of the properties that it was not consummated.

The raising of $2,000,000 in cold cash is no small undertaking for even such multi-millionaires as Gates and Drake, and at the present time Eastern money is not as loose as it has been for the past year.

All of these conditions were factors which figured in the deal and were responsible for its failure.

It has been a question with those who have looked thoroughly into the situation, whether or not the sale would have resulted advantageously to the interests of Kendall, Lewistown and others affected by the mining industry.

Probably it would have resulted in a more rapid development of the ore-bearing properties in the North Moccasin district, and consequently greater business activity for awhile, but in the long run very little benefit would have accrued to the county from the sale.

The present owners are all pushing progressive men, several of them residents of this county, and they will waste no time in developing the properties to the greatest possible degree.