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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (April 1, 1903)
I VOL. IV. SUMPTER, OREGON, APRIL i, 190J. NO. 30. GOLCONDA LOOKS GOOD. Great Stope Recently Opened Continues to Improve. ORE SHOOT ENTERED. Mill Dote Belter Than Ever In Itt Hk tory Will Average 100 Tom of Ore a Day Output 7,200 Poundt of Concen trate Ooly One CUm of Stock la Golcoada All Common and Dividend Paid oo Every Share, It havins been renorted that tone- "'' thing ' unusual was happening at the Uoloonda this week, a representative of THE MINER called upon Jaa. A. Howard, acting superintendent of that property, on his return from the mine yestreday. Ho was asked if there was any news of importance from the niluo. Ho said there was nothing unusual, or startling, but that the property is looking rery much hotter, than it has evor douo since the preseut management took chargo of it. The great stope of ore above the tunnel lovol, that was opened recently, and fully described iu THE MINER at that time, con tinues to improve as development is pushed upon It. This shoot of ore is about 250 feet long, the narrowest place in it being over six feet wide, and about sixty of the centor of it, runuing from flfteou to eighteeu feet wide, with about 200 feet of backs over the drift. This is all very high grado milling ore. On the 100 foot level, this samo shoot of ore has boon encountered within the last fow days and it proven to be equally strong, aud of even higher grado than on tho tuuuel level abovo and thero Is every reason to believe that it will continue to as great, or oveu greater length, than iu tho drift above. Thero is ore enough in this ono shoot of ore, above the 100 foot lovol, to supply the mill for many months. Mr. Howard is drifting for this samo shoot ou the levels below, and expects to pick it up within a short time iu the there, four and five huudred foot levels. The management of the mine is more elated over another shoot of ore which it is just now euteriug, on the tuuuel and about 100 feet south of the great ore shoot just described. The veiu at this polut seems to bo less disturbed than iu auy other point In the mine and as this shoot of ore is approaching the vicinity o f the great outcrop, under which all mining men have thought the greatest ore bodies In this mine would be disclosed, and as the backs above this drift, at this point aro some thing like COO feet vertically, great things are expected of this' ore shoot. The mill is doing better at the present time than It has ever done in its history. On last Saturday an even 100 tons of ore was crushed, ou Sunday seventy-five tons, and on Monday 100 tons, and the mangement hopes with Increasing power, which the melting snows are bringing, to handle about an average of 100 tons per day. Mr. Howard was asked what the output of the mill In concentrates was. He replied that this varied greatly, but the output for the past twenty-four hours was something over 700 pounds, which is about as good as the mill is able to do with the present character of ore. When asked if there was any truth In the report that the dividend soon to be declared upon the Uolconda stock would be payable on the preferred stock only, he replied that you can say to your readers tnat there is but one class of stock iu tho Uolconda Consolidated Gold Minos company. It 1h all common stock and tho dividend will be paid equally upou ovory share of it. The books will bo closed ou April 1, and all stockholders of record ou that dato will bo eutitlod to a pro rata distri bution of tho dividend. Tho exact date that tho dividend chocks will bo mailed out has not yet boon deteremiued, but it will bo as soon thereafter as the books and records cau Im gotton Into shape. It has boon au enigma which the public has been unable to unravel why It is that in tho face of tho fact that tho Uolconda mine has boon developing far beyond tho most sanguine expectations of the manage ment, tho stock has been so persis tently hammored down since about tho 1st of Jauunry. Numerous inquiries havo come to THE MINER asking the reasou for this stock being offered so cheaply, while at tho samo tlmo tho information was lelng given out to tho public that the recent strikes iu the initio wore fast placing It among the loading producers of the camp. Inquiries made of tho manage ment of that property hive resulted In tho following reasons for this seem ingly unwarranted bearish onslaught on the steck: First, a great deal of the Uolcouda stock went out to tho public at tho tlmo tho deal was made with Mr. English at prices ranglug from ten to twenty cents. Many of tb purchasers of this stock wero people of small means who could not afford to carry these holdings for au indefinite eriod as au investment. The result has boon, that as tho treasury stock has been steadily advanced by the manugement, these RICH PAY GRAVEL WITHIN CITY LIMITS. Excavations for Log Pond at Sumpter Lumber Company's Mill Site Encounter Deposit of Auriferous Sand Pay gravel was encountered Monday morning ou tho damslto now being excavated at tho juuetlou of Mo Colloch aud Cracker Creeks, for a Iok pond by the Sumpter Lumber tlou Is taking place for tho log pond will ho removed in tho process of the work, and when tho pay dirt la reached, It Is rolii.ble that a hy draulic will lit. put lu to save tho company, just below ine ciiy, wnere goui. rue mono graves ou top ih sawmill plaut is to be put evidently from tho placers formerly T. Slaughter, who has i worked further up tho stream. tho big in. U chargo of tho work for tho compauy, Ilolow this then) .Is ovory ovidouco was attracted by a streak of oxidized that tho value of tho pay gravel gravel whore his men wore at work will Increase with depth, probably and proceeded to investiagto. From yielding very much more than tho one pan ho obtained twenty colors, I estimate made. Thero are no ludlca some of which wero exceedingly ( tlnus that the locality has ever lieoii largo. The auriferous deposit Is worked as a placer claim, the deposit located immediately between tho appearing never to havo been two streams where their continence molested by gold seekers, forms au eddy, aud the gold borne The ground when tho excavation dowii from tho hills would most, for the pond has sufficiently naturally find a resting place. Mr. ! proceeded to get tho top gravel out Slaughter estimates that there is of the way, it is to ho thoroughly 2,000 cubic yards of gold bearing prospected aud a further estimato gravel insight which will yield $2 as to tho value of tho' deposit a cubic yard, making a total of obtained. From tho evidence found $4,000 iu the small area bet ween 'east of the streams, It seems probable tho two creeks. This is not all, I Mint the whole intervening space iu however. On tho east bank of Mo- Colloch creek the oxidized gravel Is again encountered, aud thero Is no telling how far It exteuds toward tho railroad along tho course of tho former hods of tho stream. Tho loose gravel where tho excava- the tint expanse extending to tho 'railroad Is rich iu placer gold. I It Is entirely within tho bounds of conjecture to suppose this territory I may have lu former times furnished beds for these streams, and if so tho whole men may be a rich placer Held. private" holders havo rushed their stock upon the market at these Increased prices, soiling enough of it to return to them tho original amount Invested and to relieve them of preseut obligations. This free selling iniH caused a plethora of stock upon tho market aud has culminated lu a fow blocks being ofrcrcd at much less than tho real market price and much Ichs tlinu tho stock Is really worth. Secend: The systematic aud 11 Intra 1 adverting of tho Uolcouda stock ilono by Mr. Leo S. Ovltt, who has had charge of tho sales of tho treasury stock has created a very brisk demand. This has Im-oii tho occasion of hundreds of Inquiries to tho management of tho property from the various brokers of the country for Uolcouda stock. Ou (CONTINUED ON I'AOE FOUR.) CONTRACT LET AT GOLD BUG. Force to be Increased and Work Vig'routly Prosecuted. A contract has been awarded Walter Crone to complete 000 feet of crosscut on tho Uold Hug property to tup tho ore shoot ou the 250 foot level. The property Is making a most excellent t-howlng. Development work hus gone ou continuously throughout the winter mouths, aud with tho opening of spring tho foice Is to l.e hugely Increased and opeiatlons put-hed with renewed vigor. A suppply of provisions Is to he cent iu from (J ran I to tho last of this week. No headaches from (Slant powder.