The Republic Mine Option
A potential three-million-dollar mining deal in Republic, Washington, sparks major industry rumors.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
An option for 30 days has been given on the Republic mine. Patrick Clark, the largest holder of Republic stock, admits that such is the case. 'We gave a 30-day option on the Republic about a week ago,' said Mr. Clark. It was learned, however, from a most reliable source that it is the British America Corporation which has tied the property up for 30 days and that $3,000,000 is the price. The sale of the Republic for $3,000,000 is the biggest mining deal ever contemplated in Washington. Considering the fact that the mine was located only a little more than two years ago, in February 1896, and that it is developed only to the 200-foot level, the price is a large one. But when the fact is taken into consideration that the purchasers risk nothing, as it is conceded by conservative mining men that there is almost if not quite enough ore in sight to pay the price, the figure is not astonishing.
“The sale of the Republic for $3,000,000 is the biggest mining deal ever contemplated in Washington.”
The Republic mine remains one of the most storied sites in Washington's mining history. The cycle of speculation and sudden wealth extraction defined the development of many Eastern Washington towns.
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