Organized August 14, 1909, the Ray-Jefferson Mining Company included the ”Ray” Lode, ”Jefferson” Lode and ”Lincoln” Lode claims. Little work was done until 1915, when the ”Carlisle,” “Hill Group” and ”Carbon Creek” claims were purchased and parts of the Ray-Jefferson were leased to other mining companies. In 1916, the Day family attempted to purchase the property and amidst many disputes paid a higher price than fair market value. The new directors endeavored to build the mill pictured above with the hopes of a large return on profits. However, the Ray-Jefferson failed to live up to the Days’ earlier expectations and little profit was made.
In 1918 the mine was closed and in 1919 the company began yearly assessments to repay debts acquired during their two years of operation. The assessments were so regular that when no assessments were levied in 1932 and 1933, a number of concerned stockholders wrote to the company because they had not received their yearly notice of assessment and were worried about their stock becoming delinquent. Some stockholders even went as far as to send in money so the stock would not become delinquent.
By 1940, the Day family convinced the Ray-Jefferson directors to consolidate with other mining companies to form a new company, the Monitor Mining Company.
PG 6_054-47, Ray-Jefferson Mill, north of Wallace, Idaho, c. 1916.