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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (Dec. 12, 1900)
Wednesday, December 12, 1900
THE SUMPTER MINER
J. P. Wallace Organizes a Com
pany for This Purpose.
J. P. Wallace returned Friday from an
extended trip east and south. He put In
most of his time in Illinois, Indiana, Colo
rado and New Mexico. The object of
this trip was business in connection with
the Monmuoth Development company, or
ganized to buy, develop and sell prospects,
principally, and to handle all kinds of
mining properties. Mr. Wallace reports a
successful trip. He is well qualified to
manage such a business, having a techni
cal education supplemented with twenty
five years experience in practical mining.
In speaking of the plans of his company,
"This company bonds, develops and
sells prospects and negotiates the sale of
producing mines. Owners of prospects
who may desire to part with their holdings
may arrange with this company for a
careful examination of their claims, and
for determinations by assays nnd chemi
cal tests of the character and value of the
ores, without cost to them.
"One of the greatest drawbacks to the
sale of mining properties is the almost
total lack of full and reliable information
in presentable form, but few prospectors
are prepared to meet the requirements of
investors in this particular. Many claims
are being held and worked from year to
year without any definite knowledge on
the part of their owners as to the claim's
merit or demerit. And again, some prop
erty holders who have good reasons to
believe in a bright future for their prop
erty may not be able to Influence capital
for development purposes. It will be the
aim of this company to supply such wants
and to this end it has recently completed
arrangements with eastern capital for the
securing In their behalf of large producing
gold and copper mines, and promising
prospects. Properties in any portion of
the Rocky mountain states will be con
sidered. It Is not a question of capital In
this case, but one involving the proper
ty's merit and a reasonable proposition.
"The mineral showing in the Blue
mountains is all that is required to entice
capital, but the Impression is prevalent
throughout the communities I have lately
visited, that the past price placed upon
mines in this section have been beyond
the ideas of Investors, and have in some
instances prevented their return to this
country. Oregon mines are more widely
known In mining circles east than is gen
erally supposed. A close watch Is kept
by proposed investors of all mining dis
tricts of promise throughout the west.
Capital is willing to go where their wants
can best be supplied. It matters not so
much where the properties may be If they
have real merit and are not overloaded in
price and unreasonable terms."
Union County Division Deal.
Mr. Frank Jasper, of Richland, Eagle
valley, a leading ouslness man of that
modern paradise, while in this city Tues
day was interviewed by a representative
of this paper regarding affairs in the
Union county panhandle. Mr. Jasper has
been employed about eighteen months by
E. & W. Chandler, Richland merchants,
whose store carries a $25,000 stock, and
he Is in a position to know the feelings of
people In his section on public affairs.
In answer to questions the Richland man
said, In effect: "I am satisfied that about
one-half of the taxpayers of the pan
handle desire that region to become a part
of Baker county, being engaged In min
ing, stockraUlng and other like Indus
tries as BaKer people. Baker City now
is the main trading point for our people
and they would find it convenient, also,
to have that city as a county seat. I
think one-half of the taxpayers would be
glad to see the panhandle made into a
separate county. On one point all the ,
people In my section appear to be agreed,
and that is, that an effort will be made to 1
have the Union county seat at La Grande.
They think, too, that the effort will sue-1
ceed." La Grande Chronlcli . 1
HOMESTAKE MINE BONDED.
Capitalists From St Joe, Missouri, Secure j
The Homestake mine, located on the
North Fork of John Day river, seven
miles from Lawton, has been bonded to '
eastern capitalists by the owners, Messrs
Ton Johnson add Joseph Robinson, for
the sum of $25,000 on a year's time. Fur-1
ther conditions of the bond are that the 1
persons holding it are to take immediate
possession and prosecute work of devel
opment with .1 large force of men divided
into three eight hour shifts.
J. M. Venable, a vrtran mining man of
Idaho, Is the man that succeeded in llo.it
the Homestake. His company h.-is Its
head offices In St. Joe, Missouri, and it Is
understood has a heavy financial backing
and will make a dividend payer out of the
Homestake If possible within a very short 1
That the Homestake is one of the most
promising properties hereabouts is ac
knowledged by all who have seen it. The
discovery was made early last spring
by Messrs. Johnson & Robinson, and
their confidence in their find is evinced by
the fact that they have already made over
a hundred feet of tunnel, a fine, large
dwelling house, blacksmith shop and
other permanent improvements.
The ore in the Homestake is low grade
free milling, but the vein is so pronounced
nnd broad, and conditions so favorable for
successful working that it is considered
highly desirable in every respect. Law
STAR BREWING COMP'Y.
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