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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (Oct. 19, 1904)
THE SUMPTER MINER Wednesday, October 19, 194 WHAT BECOMES OF ALL THE GOLD It Ih nllloliilly (Htitiiittorl that ift tliu beginning of tho present onion rim year tho Htook of gold In tho world itt largo, in tho form of motioy, amounted to flru and onu liulf billion (IoIImth, it gain of oo billion and a half of dollars sinco January 1, 181)0. In tho hiiiiio poriod tho monetary Htook of gold in tho Unitod States Ih oHliiuatod to hnvo iuoroiiHiid from hIx hiindrod million dollars to ovor thirtoon hiindrod million dollarH. Nearly ono half of tho woild'H liiuroasu in monotary gold in tho eight years In (iioHtion HtandH to tho credit of tho Unitod States Ono of tho perplexing things ahont tho production of gold Ih tho quoHllon of what becomes of tho ontiro output from tho minoH. For example, it Ih calculated that during tho lint two dooadoH tho world 'h production of gold amoiiutod to i?:i,7r(), 000, 01)0. Statistics hhhuiiio thatduiiugthiH poriod 670,000,000 or (old on tho average Inn boon annually uhoiI In tho arts--a sum that would amount to 81, 100,000, 0U0 for tho two decades in question. ThiH seemingly would hIiow that 'J.ar.O.OOO.OOO, had uono Into tho form of motioy. According to rooont statistic, liowovor,tho inoroaco in gold coinage for tho poriod moutiouud wiih only about 1, COO, 000, 000 or approximately HfiO,00(),000 lom tlmu thu amount that It Ih estimated win no I nod into mouoy. Whore Iiiih tho roHt of (IiIh gold gonoV Or havo tho statist IcIiiih mado a bad guoHs hh to tho iiautity of gold that is annually used in tiio arts? Coital n it h, tit any rato, that htiitomontH hh to tho amount of monotary gold in existence ouusi-it largely of conjecture. That a con sidroablo amount of hucIi gold Ih annually IohI, in ono way and auothor, Ih boyoud doubt. Probably not iiiiioh of It Ih huriod, iih wiih tho case in formor generations; but tin questionably no little proportion of it takes tho form of tokoiiH, orua monts and tho llko, and thiiH dis appears rroiu circulation, huon dispositions of gold coin make it ex tremely dillloult to oitimato with any mesauro of accuracy tho Miuuuut of gold coin tbaf nmy lo in actual olroulation or available lor circulation. TllO HlllOUIlt Of gold COlUUgO tlHH increased ho rapidly lu rooont years, however, that m dlvorHlon of com paratively m hiiihII part of it, either by loss through llrt. Hood or whip wreck, oau tiavo llttlo effect on thu valuo of tho romaliilug mass. This Ih hhowu by tho fact that tho closing of tho prolilla South African mines during tho Hoor war appears not to havo enhanced tho valuo of tho yollow motMl poiocoptihly; Mild now Mint those uilnvH Hro again in opera tlou tlioro Ih btlll Iohh danger of mii elfeot of thlu kind.' Now York Com uterolith Word wiih reuolved today from one of tho Killeu, Warner, Stewart com pituy'H I'HtUorn otliooH that money liud been rwlmui for the Moriiiutt and iiho liiHtructlonH that a force of men h put to work on tho property with out delay. Or Hhipmeutti from the California aoutiuue to tho Sumpetr smelter. INDIANA WILL SHIP TO SUMPTER SMELTER J. W. MoHunor, president of tho Pralrio Diggings mine, und general manager of tho Indiana Mining com pany's coppor property near Medical Springs, north of linker City, arrived in Sumpter thin morning nnd visited tho Hinelter to arrango for a Hhipmeut of high grade coppor ore from tho Indiana. Accompanying Mr. Mos-mor wiih (lonrgo C. Irwin, a min ing engineer from Lima, Ohio, who Ih in Oregon to examine the Indiana in the interest 'of a uyudioate of proHpoctive Htook buyer) from the Huokoyo Htnto. Tho report of this export wiih exceptionally flattering. Manager Meaner unuounccH that Hteady shipments or Indiana ore will bo made to the Sumpter Hinelter. "Wo are sinking in the heart of an immoiiHo body of copper ore," ho Hiild today to a Minor man. "Assays received hIiow that we can profitably nhlp without coucentrntiou " FINAL SURVEY OF EAGLE VALLEY ROAD W. L. Viuanu, the promoter and mini riK ninti f Hnker City, yester day put IiIh corpH of engineers in the Held who began revising the llrnt Hiirvey miido foi the railway to bo built from linker City to Eagle and IMno valleys, with thu view to the commenceiiiuut of uoiiHtruntinn work with the llrat good weather next HpriiiK- ThiH is all the information obtain able from Mr. VIiihoii yesterday, hut it Ih enough for liakor City people, who have now the iiHHiirauoo that t IiIh much needed piece of railroad Ih a certainty before auothor year rolln around. What it will do for the do voloiimout of tho minoH, timber and agricultural IiiikIh eiiHt of liakor City, Iiiih often been dwelt upon by tho Democrat. IluudredH of nplundld proprotios have only been waiting the advent of cheap trauHpoitatlou to be put lu opratiou, and eventually placed upon the producing Iht. It Ih expected that the onngiuoors, who are fully equipped, will complete their mirvey before snow Men. Domncrat. A party of Pittsburg capitalists, who are interested iu the Mount Itautus mining district, will leave their home iu a special car next Saturday, beaded lor Baker City. The Heloher stamp mill, now at Tipton, will be hauled iu over iuow roads. TN SUMPTER GOLD BELT MINING COMPANY CAPITALIZATION $100,000 F. C. HUOMK, M. F. MUZZY, F. O. HUCKNUM, C. H.CHANCK, C. II. FKNNKIt, President 'ice 1'rvHiilent Soc. ami Treas Attorney KngintHir mum ma the GREENHORN AND SUMPTER DISTRICTS Simitir, OrifM BLUE BIRD BUCK HORN VALLEY BLACK Are the greatest money-making stocks on the market today. Investigate them. Write for annual reports and prospectuses WHEELER & CO., BANKERS Dcpt. 60 32 Broadway. New York. Sole agents for above companies. KINKS STRAIGHTEN!) IN THE CORNUCOPIA MINE A proHH dispatch from Portland aunoiincoHa that JikIko JiolliiiKcr, of tho Federal court, has authorized tho Halo of the Cornucopia mined of Oregon, thus dmaolviuR a tooiporary injunction recently issued out of his court, rofltralniuK Shotiir II. K. Hrown from hoIIIiik the property uudor the hammer. The injunction waH Kfauted upon a petition filed iu procoedtngH auoiliary to bankruptcy procoodliiRH iu the Federal court of Now i'ork, iuvolviiiK John R. Searles, ex-siiRiir baron of Chicago. The petition recited that a forced sale of the Cornucopia uudor exe cution, to satlsry judgmoutH against the property, would defeat; tho ends of justice, in that a privato pur chaser stood ready to tako tho mluo for a big figure. An order restrain ing the uhorilf from disposing of tho property at forced sale was thoreforo asked, until such timo as an expert could examine the mine and report to the intending private purchaser. This was done, and Plorre Humbert, of San Francisco, exported the mine iu tho interests of a London svndll cate. Mr. Humbert's report was evidoutly favorable, because the re ceiver, W. (i. iieattya, of Ihooklyu, who .was appoiuted by the Federal court of New York to protect the Searles estate, thereafter ordered a meeting of all parties concerned to coualder the Loudon syndicate' offer. This mooting was held two weeks ago. lidfore uegotiatiou-i could prooeod further it was fouud neces sary to seouro permission from the Federal court of Oregon, before which auoiliary proceedings were peudiug, to sell tho mine. This tlual order lias been issued, accordiug to the Portland dispntch, aud the date of the transfer is set as November 21! for tho personal property aud November 28 for the real property. A formal anuoucouieut of the purchase of this celebrated property by tho Loudon syudiuate may there fore be ooutldeutly expected. Upon tho suooesiful consummation of ths imxed-up Cornucopia deal depends tho construction of the Vinson railway from linker City to Snake river. Coluoideut with the auuouucemeut that the last romaiuiug legal tangle had beeu straightened out, the news comes from liaker City that QUEEN BUTTE W. L. Vinson, promoter of the Snake rivor railway, had ordored en gineers in tho Hold to propuro for construction work in the spring. 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