H
Wednesday, November yf 1900
THE SUMPTER MINER.
I
MONEY" TURNED LOOSE
Election Will Promote Min
ing Investments.
It Is difficult for an unbiased mind to
look at the matter as does Secretary
Hard, of the Oregon Mining Stock ex
change, but the following interview with
him in the Portland Telegram Is cheerful
reading, just the same, and all will hope
that his prediction will be lulfilled:
Secretary F. J. Hard, of the Oregon
Mining Stock exchange, is among those
who rejoice over the election of McKinley
and Roosevelt, and the assurance of four
years more of business stability and na
tional prosperity. As a stimulus to min
ing activity he declares the republican vic
tory of Tuesday will have a powerful and
far reaching effect.
In the mines of Oregon he looks for
the greatest activity In the mining history
uf the state during the coming year.
Much eastern capital seeking Oregon
mining investments, he says, will now
be turned loose, and scores of prop
erties will be developed into diviJend pay
rrs. The demand for Oregon mining
Mocks is growing in the money centers of
the east, and while the Oregon Mining
exchange lias already done much to ad
vertise Oregon's vast mineral wealth, it
will now be in a position to do even more
in attracting capital.
Being asked what effect the result of
the election would have upon the busi
ness of the local stock exchange and the
mining industry in general, Mr. Hard this
morning, said:
"McKinley is elected. The world moves
on. The farmer sows his wheat, the
merchant puts in his winter goods, the
mechanic goes back to the shop the same
as he did before, and the housewife tries
out the lards and stores away the usual
crocks of apple butter. Confidence is
again restored.
"It is amusing, but true, that the capi
talist draws in his wealth and a general
bear movement is brought about as elec
tion approaches, and probably no industry
suffers more than that of mining, unless
it be the tillers of the soil, whom the
miner looks at in sympathy, less a drouth
come and the seed do not take root and
grow. The approaching election causes a
general calling in of loans. Roth the
miner and the farmer produce from the
soli that which forms the basis of trade.
The farmer hopes to reap that which he
sowed; the miner that which has already
been planted in the wisdom of the Al
mighty, and cannot be destroyed, but is
given to us with the promise that 'if ye
search diligently, ye shall tinJ.' Yet this
bear and bull movement lias its effect, and
the uncertainty which puzzles the specu
lative world, lias much to do with the for
warding of the mining industry, which,
when conservatively Invested In, Is safer
than many other depositories or accom
modating associations willing to take our
savings. 1 he vaults of the mountains
are God's o u depositories. I lie sliver
and gold cnntaineJ therein are what he
says the streets ul the .new Jerusalem will
be lined with.
"With confidence in contlnueJ prosper
ity and movement of more wheels even
than the last four years have even seen,
capital will not hesitate to invest In any
well governed mining company's slocks, j
and tile vast mining regions of Oregon ,
will now come in for their proportion of
the money sure to be turned loose. When
Colorado lost all hope by the repudiation
of silver, the mines continued to be her
best friend, and the miners turned loose
on the next best metal, and gold mining
became even more profitable than silver
had been and brought about more and
brighter days, new cities and more rail
roads, and in all, good times prevailed.
"Will the mining exchange be benefitted
now that the election Is over and we have
the results? This question would better
be reversed. Better ask will the mining
exchange continue to be a benefit to the
mining community, and the answer will
be 'yes.' A mining exchange is an Im
portant aid to legitimate mining, and the
restoration of confidence, supported by a
mining exchange where quotations are
maintained, lias much to do with encour
aging investment and the protection of
miners, Investors and brokers, and all who
want to do business right."
THAT ST. ANTHONY SUIT.
Federal Court Temporarily Regains L.
G. Wheeler.
Judge Bellinger, of the United States
circuit court, has issued an order continu
ing (lie temporary restraining order
against L. G. Wheeler, to prevent him
from interfering with the expertlug of
the property of the St. Anthony Gold
Mining and Milling company, of Alamo,
until the case Itself is decided. This ac
tion is taken on the complaint of William
Kickhaefer, one of the stockholders of the
company, who lives in the east. Dr.
Wheeler was appointed surerintendent of
this property some time ago, and accord
ing to plaintiff's statement, he was to re
ceive so much of the stock. The eastern
directors became dissatisfied witli Dr.
Wheeler for some reason and removed
him, appointing George Weigand, a Po
lander, as the new manager. Dr. Whee
ler still claimed that the stock was due
him, and would not permit Weigand to
have the management of affairs.
Mrs. C. M. Koester, also one of the
stockholders and plaintltfs in this case,
has authorized the following statement:
"L. G. Wheeler promoted the company
In Milwaukee. M. C. Koester, cashier
of the Concord Insurance company, and
William Kickhaefer, gave Mr. Wheeler
at different times fuoo and $500 to de
velop properties. He failed to pend the
money and do the annual assessment
work, and the mines were forfeited and
relocated by the Red Boy Mining com
pany. Mr. Wheeler then located other
claims, working from the Coeur d'Alene
tunnel at Alamo in 550 feet. He spent
f 12,000, which was furnished by the same
eastern parties.
"By resolution the company discharged
Wheeler on September I, and appointed
me as general manager, with authority to
employ a competent miner to superintend
the work. We tried to expert the prop
erty, but Mr. Wheeler refused to allow
the agents of the company to do so and
drove them off. Then Mr. Kickhaefer, as
the principal stockholder, tiled a bill In
equity and has secured a temporary in
junction. Wheeler at one time owned
100,000 shares, but he refused to pay the ,
I revenue stamps for their Issuance, and
men assigned me mock 10 HIS Wile. K.
J. Wheeler, a brother, has brought a suit
j in Chicago, against L. G. Wheeler, and
J tile stock has not been issued, due to the
j restraining order. Directly or Indirectly,
Mr. Wheeler owns 110 stock in the com
pany." Portland Telegram.
Joshua Hendy Machine Works
San Francisco, California
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CalaliiK On A'llcallon
Increased Force at the Union.
At a meeting of the directors of the
Union Gold Alining company, who.e
property lies about three miles from Cop
per Hutte, it was decided to put an in
creased force of men at worl during the
whiter months. The force will not be a
large one, but sulhcient to develop the
property, which now shows a very prom
ising ledge of ore carrying hlt,'h values.
IncreaseJ activity Is reported in the camps
surrounding Copper Butte and Burke
moot and a number of important deals are
pending there. It is believed by those
who are posted that great strides will be
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