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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (March 27, 1901)
Wednesday, March 27, 1901 IO Does It Pay to Own a THE SUMP7ER MINER M: often heirs nenple -;iy: "What's 01 Mr ie 111 inivuig a inoiisaiiu mi, ires in .1 mllliau doll tr Cniii my. It don't 1 . . .it ! itnnuui 10 auyimng I iken at a lime 'Vhen a company Is srlliog Its iirsi Ksti" nf treasury sli ires, It Is no trouble at .ill to look over the Mt-lil of active million operations ami enumerate hundreds ot loinpaiiie.s tint to own 1000 sli ires ol their stoJ would mean an income of no Minll anioiiut. In aiiswci the iJes .Vtoines, Iowa, In vestor says: One tliousiii.l shirrs of Ouhicv or I'amarack Hopper) would insure an income ot nearly 56,ooo per annum I lie same number of shares in the (.ilumel or llet.li (copper) would return aliout 5)3, (xx) it 11 11 illy I he Alaska-1 read veil p i's aliout 5t ,500 .-iiniii.'illy on cull one thons iml shales, w hlle the g'eat Home staUe ol South Dakota pys 56,000 I lie Kith irdson inine ol Nova Scotia pays $2 50 on eaih kxxj sli ires t mi ore that only averages about so per ion. Ii. Liu, the New York Kn glueeiiug and Mining Iniirii il of 1-Vbruary 17 wives a list of JJ7 dividend pas lug mines that to own 1000 shares ut any of them would me 111 a very respecta hie iuiiime. I here is .mother very Important side to this ipies linn, IniArver, and that Is the increase in value. As a rule a company sells lis lust issue nf treasury shares veiv die ip; 10 tents per sli ire would he a v ei high estim ite 011 .111 aver ige, -o II one estim.i tes (rum .1 hisls ot lust uit he is reteiviug all the w iv I'iiiii )o ) to soo prr tent on his actu il i.isb In vestment I 01 example, the l.e Knl stock was sold lor about s tents per sh ire when the mine hrst sl.irteil; this sIih U is now iiioled in London at Sj;. Isabella ol ( ripple ( .reek, sold as low asthree cents per share oiigtn.illv, it is now woith 5t.:K; that is to s iv, one tould II ive bought loooshates lor 5jo, they aie now world fl.-'So, and the mine his paid 5-tSo, 000 lu thv Ideilds. Thousand Shares- The buying of treasury shares when they are being sold at a discount by a good rell ible company owning a promising property is both prolilnble and legitimate. There nre tew avenues of trade that offer safer Investments, and certainly none more profitable. Daily Mining Record. Sunrise Mining Company Stock will be sold until next Tuesday for M. cents per share. It will then be advanced. SUNRISE MINING CO. Sumpter, Oregon W. C. CAMM-R, President. A. C. LlTTI.I:, Vice President. B. E. MCCAWMON, Secretary. Sl:YAOUR II. BULL, Treasurer. W. F. DILLON, Director. .SOUTHERN ORHGON OIL. SUikf.ml Guiipiny ll.11 Prevented t Ue vt Input yt of tin' District. I he Rev ( . It. Sliev llelrl, .1 AWlllodlst inlulstei ol 1)1 mi, 1 lunulas inuutv, was in IVitlmd Nrstritlav in iMog nupilry inmt'ii'liig loetts l.ii detelnplog oil pinspetts lu I hegon. lie has a ti.ulnl land ueir Di.iiuihit he belietes lobe ll.ll in 1 etioleiiin, and lie Is inteiesied hi .in thing Hi it shall give pii.inise ot prov ing whrlliel the si. tie II is oil that Is woilh the ( peuse ol opening up Ihe lesouue. Me is mnv lined that Diam I) is good oil l.uitl, but his not unit Ii lespect lor Ihe gootl I. Ulll ol Ihe owiirls. Mr. Strevlleler says that tight or nine seals ago sign-, ol oil weie disioveied within the town ol Drain, on a low tract 11e.11 the depot. Owners ot ptoprrty tlieie ilutibed togethei and sent a dull down something like Moo leet, and oil tame two thiids ol the way to the top ot the shaft. Speihiiens weie sent ttuhemlsts audio the Slatiatd OH tompauy. I he oil was toiiud to be an euellent i)ii.illt of petio Irtint, v hiding a latge pet cent ot llluml uallug oil, Ihe Standard Oil people took an aitive Interest In the discovery, and oflrird to assist In the development of the ptopetiy by putting money Into the lotal toinp.inv. A minority Inteiest was offeitd the Slandaid Oil people, hut they would be satisfied wlili nothing less than a majotily ot the stotk, which was at length sold them. I hen the big capitalists began buvJng and bonding all the prop city they could get hold 0II11tl1.it locality, tmt there was 110 activity towaid continu ing wotk with the well already bored. Finally It came out that the pur pose ot the Standard Oil people was not to develop oil property, but to prevent the production of oil, and they had accom plished their purpose, so far as Drain was concerned. Most of the promising land is under the control of the oil magnates, who hold it just as they found it. A few years ago the Methodist church J of Drain wanted a small piece of land that I was owned by the Standard Oil men, and I offered to buy it. It was to be devoted to jihurt.li uses, 'I lie answer came that the I owner had no laud lor sale in that locality, ! but was in the held to buy all 'hat could he obtained theit. AW. Sticvtlelet says theie Is hardly 1 100m to doubt that there Is ilch ml laud at ' Drain, lie says a man 1.111 go 011 soft ground near the r.iiho.id ti.uk, push his Line down a foot or two, witlidtaw It and 1 over the hole with his toot tor a moment then hold a lighted m.iUh over the hole and the atcumuu'lated gas will ignite and send .1 blilliant ll.iine high as ,1 man's head. I here is promising oil laud about Drain III it Is not et within the tonlrol of the Standard Oil people, but the owners have not the netessaty capital to bore wells, and they are fearful of falling into the hands ot capitalists who will freeze them out by delaying development. Drain peo ple are convinced that Oregon is an oil state and that a great oil boom is liuini nent. Oregon! in. ComucopU Mines Will Resume. Mr. George D. Heattys, of New York, receiver of the Cornuiopia mines of Ore gon, and P. J. Cirkel, late manager of these properties, returned yesterday to this city from Cornucopia, where they ! made a thotough examination of the mines and affairs connected therewith. It is un derstood that AW. Heattys was well pleased, so much so th.it he ordered a re sumption of operations, and the mines stalled up with a full force of miners yes. terd.iv morning. Receiver Heattys left for Portland last evening, where lie will adjust some Important business affairs and will return here in a few days. All the company's time checks are to be taken up immediately and arrangements made to have the mines operated without Inter ruption, the proceeds to be applied on out standing Indebtedness as rapidly as pos sible. Mr. Clrkel will remain In Raker City several days before returning east. Democrat. B. L. McLAIN MILL WRIGHT KHI'CTION Ol- QUART .Mil LS A SPECIALTY Sumpter Okugon CAPITAL MOTEL iBgH Electrical Mining Aparatus of Every Description Of Stanley Electric Company and Northern Electric Company lnitn iiliictiirv, for dircht or alternating work, Dynamos, Motors, Hoists, Tram Cars in fad, everything ueeeary for complete light and power plants. Esti mates ami (ijHvilioiitiniis furnished. CornviHuidcnco solicited. Addrc&i nil communications to A. WALCH, W Sumpter, Ore. V