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Babine Bonanza Mining and Milling Company Ltd.
- Date Range
- 1907-1934
- Collection
- Cronin Family fonds
- Description Level
- Sous-fonds
- GMD
- cartographic material
- graphic material
- textual record
- Scope and Content
- Series includes financial records, correspondence, legal documents, mining reports, newspaper clippings, cartographic materials and photographs. Financial records include payrolls, inventories, supplies lists, receipts, statements, sales of goods and land and tax forms. Legal documents include affi…
- Collection
- Cronin Family fonds
- Description Level
- Sous-fonds
- GMD
- cartographic material
- graphic material
- textual record
- Creator
- James Cronin
- Rose Cronin Andersen
- John T Cronin
- Fonds No.
- SF1
- Accession No.
- 1985.1
- Physical Description
- 70 cm of textual records
- 2 photographs
- 16 cartographic materials
- Date Range
- 1907-1934
- History / Biographical
- The original holdings of the Babine Bonanza Mining and Milling Co. (BBM&M Co.) consisted of five two post, non-crown-granted claims: Homestake, Bonanza, Lucky Strike, Babine Chief and Bulkley Pioneer (lots 1859, 1861-1864 respectively). They are alternately described as being located on one: the east slope, and two: the north slope of the Babine Mountains at 5000 feet above sea level.
Originally located in July 1906, by J. Dibble and M. J. Brewer, the claims were bought in 1907 by Cronin and Charles Theis. At some point a sixth claim was acquired: Eureka, lot 1860. The original five claims were given crown-granted status on April 8, 1911. Afterwards, the Eureka claim was also crown-granted. Over the years, BBM&M Co. staked several other claims, none of which were ever given crown-granted status.
In 1909, BBM&M Co. was incorporated and on September 27, 1909, both the first stockholders’ and directors’ meetings were held. At the stockholders’ meeting, James Cronin, Charles Theis, M.J. Brewer, A.H. MacNeill and William Huntley were elected as the first directors of the company. While at the directors’ meetings the following officers were elected: James Cronin, President; Charles Theis, Vice President; and William Huntley, Secretary. Development work continued sporadically until 1923, the last year that Cronin worked the mine himself. The mine wasn’t very prosperous and impeded by reduced access, weather conditions and funds. Following this, the company and the mine underwent a period of uncertainty.
By 1923, work at the mine had reached the stage which necessitated a large capital outlay for the purchase of heavy machinery, including such items as a concentrating mill. This situation, coupled with Cronin’s failing health, appears to have prompted the BBM&M Co. into making a concentrated attempt to sell the mine. Cronin had the most mining knowledge of all the investors, and most deferred to Cronin in matters which required such expertise.
The terms set down by the BBM&M Co. were firm and barely negotiable, and asking price ranged from $360,000 to $400,000. During this time, James Cronin passed away, thereby increasing the reasons for selling the mine. Thousands upon thousands had been expended on the min over the years with no return and engineers who surveyed the mine claims felt the land was not worth the risk. This left Annie Cronin with shares in a company that would continue to cost the family money. The burden of continuing the attempt to sell the min fell to Rose Cronin Andersen, John T. Cronin and Charles Theis. Eventually, they modified their stand to accept reasonable investment deals.
Finally, in 1928, an agreement was made to bring in a new investor, Anglo London Mining Corporation, with Managing Director, Grant Mahood. The deal proposed that the BBM&M Co. capitalization would be raised to 2,000,000 shares with 865,000 shares being retained by those already holding stock in the company. Anglo London would then hold 1,020,000 shares. The finalized negotiation saw that Anglo London would acquire 679,000 shares from the BBM&M Co. treasury at a cost of $300,000 that was to be spent on developing the property. A block of 86,000 shares were to be put up by the Cronin’s and Theis, giving Anglo London control of fifty-one percent of the company.
Almost immediately, the BBM&M Co. began having issues with Mahood and Anglo London. The contract provided a clause whereby a minimum payment was specified, without stating that more than the minimum ever had to be paid at one time. Taking advantage of what the BBM&M Co. came to see as a loophole, only the minimum was ever paid. In the first year of the contract, a confrontational attitude was adopted between companies.
In June of 1929, the Anglo London Corp. attempted to change its name to the Babine (Cronin) Mines, Ltd. The BBM&M Co. refused permission for the Cronin family name to be used. Shortly, thereafter, in August 1929, Anglo London adopted the name Babine Bonanza Metals, Ltd. However, the new name did not ease the tension between companies, as BB Metals was now regularly behind in its payments and was often in debt for supplies and the company payroll. When the situation did not improve, the BBM&M Co. began inquiring in the possibility of cancelling the Mahood/BB Metals contract. They also consulted lawyers on the questionable legality of Mahood locating his own claims next to BBM&M Co. holdings. Finally, at a stockholders’ meeting in November 1930, they voted to break the contract.
In 1934, the Babine Bonanza Mining and Milling Co. filed a lawsuit against the Omineca Silver King Mines, Ltd. The controversy arose after a claim that had been staked by James Cronin was allowed to lapse due to improper filing of the appropriate papers following the death of Cronin. Although the BBM&M Co. relocated the claim and filed the papers accordingly, they only learned of their error when Omineca Silver King Mines Ltd. also filed a claim that overlapped the BBM&M Co.’s Speculator claim. Accidentally, the claim was re-staked under the name of Windy, which overlapped the Speculator and another claim -- the Contention. The two claims (Rex and Rex No. 1) of Omineca Silver King Mines Ltd. Overlapped all three of the BBM&M Co.’s claims. While the judgement is not found in the Cronin Family fonds, a copy obtained from the Provincial Archives in Victoria shows the Omineca Silver Kings Mine Ltd. won the judgement and BBM&M Co. lost those three claims.
While the records within the Cronin Family fonds only reflect all years before 1934, Babine Bonanza Mining and Milling Co. (then Cronin Babine Mines Ltd., 1948; New Cronin Babine Mines Ltd., 1956; Kindrat Mines Ltd., 1966; Hallmark Resources Ltd., 1972) was still active until January 26, 1977, when it was voluntarily liquidated.
- Scope and Content
- Series includes financial records, correspondence, legal documents, mining reports, newspaper clippings, cartographic materials and photographs. Financial records include payrolls, inventories, supplies lists, receipts, statements, sales of goods and land and tax forms. Legal documents include affidavits, bills of sale, contracts, crown-grants, deeds and licenses. Cartographic materials depict areas in B.C., plans and workings of various mineral claims, and include sketches.
- Type of Record
- Archival Description
Less detail