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.