Le Roi Mine

Le Roi Mine

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Of the five claims staked on Red Mountain in July 1890 by Moris and Bourgeois, the Le Roi was destined to become the most famous. In return for putting up the $12.50 recording fee for the group, “Colonel” Topping, the gold recorder at Nelson, was offered his choice of the claims. Topping chose the Le Roi. He then sold the Le Roi to a Spokane syndicate for $30,000. When the mine was developed, the American owners sold it to Whittaker Wright’s British-America Corp. of London for three million dollars. The Le Roi ultimately produced 30 million dollars of wealth.

The sale of the Le Roi to the British-America Corp. triggered an exciting litigation case that culminated in the signing of the “million dollar cheque” at Rossland.

In 1897 the Le Roi mining company built a smelter at Northport. Washington, but this was closed down a few years after the sale of the mine to the B-A Corp.

Heavy trading in Le Roi stock through the distant London exchange prompted the establishment of the Toronto Stock Exchange.

The fortunes of the Le Roi suffered a setback in 1901 with the collapse of Whittaker Wright’s infamous  financial empire, but the mine continued to produce until 1910 when the affairs of the company were wound up in London. In 1911, the assets of the Le Roi were acquired by Cominco and the Le Roi was operated as part of the consolidated mine workings until the Rossland properties were closed down in 1929.

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