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Marcus Daly (December 5, 1841 – November 12, 1900) was an
Irish-born American businessman known as one of the four "Copper
Kings" of Butte, Montana, United States.
Early life
Daly emigrated from County Cavan, Ireland, to the United
States as a young boy, arriving in New York City. He sold newspapers and worked
his way to California in time to join the gold rush on what was to become
Virginia City, Nevada, and the fabulously rich silver diggings now known as the
Comstock Lode, in 1860.
Career
Daly gained experience in the mines of Comstock under the
direction of John William Mackay and James G. Fair. While working in the mines
of Virginia City, Daly met and befriended George Hearst and partners James Ben
Ali Haggin and Lloyd Tevis, co-owners of the Ophir Mining Company. (Hearst's
son was William Randolph Hearst). In 1872, Daly would recommend purchase by the
Hearst group the Ontario mine, near Park City, Utah. In ten years, Ontario
produced $17 million and paid $6,250,000 in dividends, and made many millions
for Hearst, Tevis and Haggin.
Their business friendship was to extend for many years and
help establish the Anaconda Copper Mine in Butte, Montana. Daly originally came
to Butte in August 1876 to look at a mine, the Alice, as an agent for the
Walker brothers of Salt Lake City. The
Walkers purchased the mine, installed Daly as superintendent and awarded him a
fractional share of the mine. The Walkers became the namesakes of Walkersville,
which formed around the Alice.
Always an energetic engineer and geologist with a keen eye
for paying ore, Daly noticed while working underground in the Alice, that there
were significant deposits of copper ore. He gained access into several other
mines in the area and concluded that the hill was full of copper ore. He
envisioned an ore body several thousand feet deep, some veins of almost pure
copper that would be worth hundreds of millions of dollars. He urged his
employers, the Walker Bros. to purchase the Anaconda and when they refrained,
Daly bought it. Daly founded his fortune on the Anaconda Copper Mine in Butte,
after selling his small share of the Alice Mine, for $30,000.
In 1886, Daly bought property in Hamilton, Montana, building
a summer residence and creating the Bitterroot Stock Farm, a 22,000 acre ranch
and horse breeding facility. The ranch included a stable called Tammany Castle,
built for his prize-winning thoroughbred Tammany, a racetrack, and veterinary
clinic, amongst other operations like apple orchards and cattle. These were
built around the family's residence, the Daly Mansion. To bring water to the
agricultural fields, Daly invested in several ditch companies to build
irrigation canals throughout the valley. Shortly thereafter he became involved
in the timber industry in the Bitterroot Valley, purchasing acres of timberland
and building sawmills to provide fuel for the smelters in Anaconda. Daly
continued to invest in the area, developing infrastructure for the growing
workforce. Daly opened the Bitterroot Development Company Store in 1890, which
became the Valley Mercantile 18 years later.