Marcus Daly

Marcus Daly
Marcus Daly
Born	Template:Birth date; County Cavan, Ireland
Died	November 12, 1900 (aged 58)
Occupation(s)	Entrepreneur, mining executive, thoroughbred horse breeder
Known for	One of the four Copper Kings of Butte, Montana; founder of Anaconda Copper Mine; thoroughbred horse breeder

Marcus Daly (December 5, – November 12, 1900) was an Irish-born entrepreneur in America, renowned as one of the four prominent Copper Kings in Butte, Montana, United States.

Early life

Originally from County Cavan, Ireland, Daly emigrated to the United States during his youth, arriving in New York City. He eventually made his way westward to California and participated in the gold rush near what became Virginia City, Nevada, close to the lucrative Comstock Lode silver deposits in 1860.

Career

Daly developed his mining expertise working under John William Mackay and James G. Fair at Comstock. During this period, he formed a friendship with George Hearst and his associates James Ben Ali Haggin and Lloyd Tevis, co-owners of the Ophir Mining Company; George Hearst's son was William Randolph Hearst. In 1872, Daly advised them to acquire the Ontario silver mine near Park City, Utah, which yielded $17 million and distributed $6.25 million in dividends over a decade, producing significant profits for Hearst, Tevis, and Haggin.

This collaboration facilitated the founding of the Anaconda Copper Mine in Butte, Montana. Daly arrived in Butte in August 1876 as a representative for the Walker brothers from Salt Lake City to evaluate the Alice mine. The Walkers purchased the mine, appointed Daly as superintendent, and granted him a stake. The community of Walkerville, Montana emerged around the Alice mine.

While working underground at Alice, Daly discovered large copper ore deposits. After examining nearby mines, he verified extensive copper veins and envisioned a colossal ore body worth hundreds of millions. He urged the Walkers to acquire the Anaconda mine; when they declined, Daly purchased it himself. He built his wealth on Anaconda after selling his share in Alice for $30,000.

In 1886, Daly bought land in Hamilton, Montana, creating the Bitterroot Stock Farm—a sprawling 22,000-acre ranch with thoroughbred horse breeding facilities including Tammany Castle stable for his champion horse Tammany. The estate included a racetrack, veterinary clinic, apple orchards, and cattle operations centered on the Daly Mansion. To promote agriculture, Daly invested in ditch companies that constructed irrigation canals throughout the valley. Additionally, he entered the timber business in Bitterroot Valley by acquiring timberland and sawmills that supplied fuel for Anaconda smelters. To support local workers’ needs, Daly opened the Bitterroot Development Company Store in 1890, later renamed Valley Mercantile.

The Anaconda

Initially developed as a silver mine, Daly’s acquisition of Anaconda targeted its extensive copper reserves—among the largest known at that time. Without sufficient capital for development alone, he partnered with Hearst, Haggin, and Tevis. Backed by substantial funding, Daly transformed it into The Richest Hill on Earth. After several years of mining silver-rich veins that became depleted alongside other Butte silver mines’ decline, Daly closed Anaconda along with St Lawrence and Neversweat mines. As prices dropped, he acquired adjacent properties and reopened Anaconda focusing on copper extraction, branding Butte as "The Richest Hill on Earth".

The invention of Thomas Edison’s light bulb increased copper demand dramatically due to its use as an electrical conductor. By 1882, nine million tons were extracted within five square miles; production soared to 210 million pounds by 1896.

Daly constructed a smelter for processing ore and by the late 1880s had become a multimillionaire owning Anaconda Mining and Reduction Company. He founded the city of Anaconda to accommodate smelter workers and controlled the Butte, Anaconda and Pacific Railroad for ore transportation. The smelters evolved into the largest metallurgical facility worldwide. His timber investments in Bitterroot Valley encouraged Northern Pacific Railway to establish a line through Hamilton that enabled large-scale lumber shipments to Anaconda.

In 1894, Daly led an unsuccessful effort to designate Anaconda as Montana’s capital; Helena prevailed with support from his rival William Andrews Clark. Throughout the 1890s Daly remained politically engaged opposing Clark by financing his adversaries to prevent Clark’s political ascent.

By 1898 Daly sought a buyer and negotiated with William Rockefeller and Henry H. Rogers of Standard Oil of Ohio. In 1899 Anaconda Mining Company was sold for $39 million and merged into Amalgamated Copper Mining Company. Daly was appointed president but passed away in 1900.

Thoroughbred horse racing

Daly dedicated resources to horse breeding at his Bitterroot Stock Farm located near Hamilton, where he developed numerous victorious horses. The area's altitude, climate, and nutrient-rich valley forage were often credited for enhancing their capabilities.

In 1891, Daly purchased Tammany, who earned the title of Horse of the Year in 1893. He also owned and stood Inverness, the sire of Scottish Chieftain, alongside other notable horses such as Hamburg, Ogden, and The Pepper. Notably, Scottish Chieftain remains the sole Belmont Stakes winner bred in Montana. Additionally, Daly facilitated breeding arrangements for the distinguished Sysonby, considered one of the top 100 American thoroughbred champions of the 20th century, although Daly passed away prior to Sysonby’s birth. Sysonby was later inducted into the Racing Horse Hall of Fame in 1956.

Following Daly’s passing, a dispersal auction of the Bitterroot thoroughbred stock took place at Madison Square Garden starting January 31, 1901; on the first day alone, 185 horses were sold for a total of $405,525.

Legacy

Daly left a profound yet complex mark on Anaconda. Between 1885 and 1980, the smelter served as a primary source of employment with well-compensated positions supporting multiple generations. Its closure amid a labor strike in 1980 resulted in a workforce reduction of approximately 25%, from which the community has struggled to recover. Although the smelter was dismantled during environmental remediation efforts in the 1990s, its smokestack endures as a recognizable local symbol.

In Butte, Daly’s influence persisted through the Anaconda Company, which was acquired by Amalgamated Copper Mining Company (ACM) in 1899. By the 1920s, ACM had become dominant in regional mining operations and remained a significant employer until the 1970s. The company transitioned to open-pit mining during the 1950s with expansion of the Berkeley Pit. After copper prices plummeted in the mid-1970s, ACM was purchased by Atlantic Richfield Company (ARCO), which ceased mining activities in Butte by 1980 and stopped deep water pumping by 1982—effectively closing a chapter that Daly had initiated nearly one hundred years prior. As of 2007, Montana Resources operates an open-pit mine extracting copper and molybdenum and also recovers copper from Berkeley Pit water. In 1980, federal authorities designated the Berkeley Pit, Clark Fork River, and Anaconda smelter as Superfund sites due to environmental concerns.

A statue of Daly created by Augustus Saint-Gaudens is displayed at Montana Tech of the University of Montana in Butte. Additionally, a portrait sketch by Adolfo Müller-Ury was acquired by the American National Portrait Gallery in Washington D.C. in 2009.

Riverside, which served as Daly family’s summer residence in Hamilton, is available for public visits. After Daly’s death, his widow Margaret transformed it into a Georgian-Revival Colonial architectural style home.

The Marcus Daly Memorial Hospital, now operating as Bitterroot Health-Daly Hospital in Hamilton, was established in 1929.

Hamilton commemorates Daly annually through its Daly Days festivities.

During World War II, the US Navy honored him by naming a liberty ship—the SS Marcus Daly—which operated from 1943 until war’s end and earned several commendations for its service.

External links

Biography at the National Mining Hall of Fame
Profile on the Irish Identity platform
Information from Montana Resources
Official site of the Daly Mansion
Marcus Daly Family archival collection (University of Montana Archives)