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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (April 13, 1904)
Wednesday, April 13, 1904
THh bUMPTER MINhR
NEW SCHEME OF
Advance Money in Stocks
Pound Down The Price
Tlio wonderful expansion of tlio
mining liusiuess id t'ju past few years
nud tbp interest that the public has
shown in milking iurestmeuta in mln
I uk stocks, litis brought to the front a
class of "llimnclers" who for ways
that are dark and tricks that tiro
keen, are giving tho heathen Chinese
points and making the astute Jap feel
like a relio of a past nge.
Tbe last trick of tho cut rate
broker is to advance money on stock
certificates, and the contract he re
quires a customer to slgu is a work of
art that would puzzle 11 Philadelphia
lawyei. About every possible con
tingency appears to bo covered to tho
Advantage of the broker, and tho
owner of tho stock buys u veritable
gold brick when he obtains a loan on
his stock certificates.
Tlio cut-rate broker, while exact
ing a liberal rate of interest for the
loan, also expects to iniiko money
through various means at the expense
of tho borrower. A favorite method
which these gcutry uso Is to nuiko a
concerted drive at a particular stock
at 11 particular time, in order to make
a quotation which will enable tho
broker to call on his customer fur
more security, and in default of tho
customer putting up a satisfactory
security under the wording of the
prommiesory unto glvou at tho tlnio
tho loan is mailo, the broker is at
liberty to sell the stock. Of course
11 bona lldu salo Is very rarely cvor
made. The broker simply notifies
his customer that the stock has been
sold, im.l frequently nntllles the
cosutomi'i' that tbeie is a l.itlauc"
ilue tbe broker, on account tit the
stock not having brought tho amount
of tho loan; but tho broker gets the
stock every time.
Most of theco notes are made pay
able at from four to nine mouths and
during that time it is not a dllllcult
matter for tho broker, in collusion
with some friends of his on the Min
ing Exchange, to engineer a quotation
which will wlpu nut tho customer's
Any one who will tako the tum
ble to look at tlio quotations of min
ing stocks of the so-called Mining
Kxehiinge when It started business and
at the picseut time, can see that most
stocks are belling now at very much
less thiiu when tho Kxehiwgo starti'd
Tho cut rate bmkers commenced to
loan money ou stock certificates just
about tho time that the Kxclmugo
started in busiuess, and a great many
people regard it as a curious coinci
dence. The fact remains that prices
of stocks have had a steady decline
with very few exceptions, and we
venture to say that when brokers have
secured a pretty good supply of stock
certificates from customers who have
borrowed money, somebody will have
to pay for higher quotation on stocks.
It is rather unfortunate for the
cut-rate brokers that quite a number
of tbe members of tbe Mining Ex
change are gentlemen wltb records,
such m are not conducive to estab
lishing a good line of credit in any
business, and a great many people go
so far as to say that it Is not 11 qucs
tiou of a very long time, but merely
of 11 few weeks, when the Alining Kx
cbaugo will go out of business for
lack of funds to pay expellees.
Mining fakirs, by limiting worthless
compaues, have wuiked injuiy to
many people and have nilsed n preju
dice agauist mining which has been
overcome only by tbe splendid show
ing of well managed companies and
the greater enlightenment of invest
ors. Hut the cut nite broker Is work
ing directly against tho interests of
every investor and every mining com
puny. They work on tho fears of stock
holders, and by 11 system of false
Inference depreciate the price of good
mining stocks. A company may be
selling stock at 82 per share and pay
ing dividends on that price. One of
these pirates will advertise the stock
at 81. 'J5 or even 61. They have no
Intention of delivering the stock at
the price quoted, and are simply
advertising the stock at that prico In
order to get in touch with the holder
of a good stock. That quotation fixes
a price and should the owner of the
stock desire to sell, that price is
poluted to as llxlug the market, even
though tbe stock Is really Aorth
much more. Stockholders are thus
robbed of fifty per cent of tho value
of their holdings, and this is only
ono form of their piracy. New York
"Carbonate ore" Is n term em
ployed usually to denote "lead cm
bouatc," although there are uumoi
ous other curbonute ores, such as
malachite (green coppei cai donate),
smithsonltn (zinc eurtionuto). This
latter Is often called "dry bono" by
tho miners. Theio is no carbonate
of sliver in nature. "Slderito" Is
carbonate of Iron. Tho naiuo "car
bonate" becanm popular upon the
discovery of tho large lead carbouiili)
deposits at Leadvillo, Colorado. In
that dlhtilct, tho teverul ones weio
culled carbuiiato, sand carbonate and
bind cut donate, also llvei-eoloied
rock, tho later a duik-cnlotctl iron
oxide, usually siliceous, with patches
and streaks of lead curlionate and
often cnusldoiablo visible bom silver
(silver cohlor'de). Tho common
carbonate was .a Dim, though not
hard me, consisting laigoly of graylsn
lead carbonate, often stained in spots
by red and brown Iron oxides. Hand
curbonute contained a largo percent
age of lead cotuboiiate, which was
found In tho form of Innso grains,
like Mind. Often tills oie.whou broken
Into, would cause "niim" ol ore,
sometimes dllllcult to timber. The
haul carbotiate was lend caibniialo
mixed with silica and brown iron tun
(limnnito.) Mining and Kcleutlilu
Drawback to Chlorination.
Thograet drawback to chlorination
Is that it necessitates a complete ami
thorough roasting of tho ores; con
sequently, it is both dllllcult nud ex
pensive to operate. While chlorina
tion extracts a good percentage of
tbe precious metal out of particular
ores found iu certain localities, If
there should be over a certain
percentage of silver iu such ore,
tbe silver must be first extrac
ted by tbe leeching process,
wbicb greatly adds to tbe expense.
Great care must be taken in chlo
rination tbat tbe ore contain no me
tallic iron, undecomposed sulpbu
rets, arsenlous acid, antimony, sul
phide of iron, uor any tnetallaic
oxide soluble In water. Pacitlo
"I Am The Boy That Has
Struck The Richest Thing
in Oregon." He
The Miner Is in receipt of a letter
from L. V. Kenipf. that contains
some Interesting information. Ho,
however, has mixed up Tho Miner
with some less reliable paper, foi it
has never published a stoiy regarding
the Hud to which he refers. lie
"1 understand, as 1 have heard,
tbat your paper is circulating a re
port that a licit strike has been mado
by one called Kemp iu the vicinity
of Suinptor, or near Austin station.
Now, Mr. Editor, 1 did make a rich
strike, but it is not iu your neigh
borhood. It is ou Little Ilottlder I
crock, in-the new Kldorado mining'
camp, on what Is culled tho Win-on-sin
group, Iu the tJreenliorn country,
and is four miles north from tho
Thomas ranch, Iu township 10 S.
ranges III) and III K.
"1 don't want tho people misled.
1 want, it given nut just whole this
property is, Vnur 'people have bad
your day; ours Is coming, and thero
will bo red lint times here before
long. My friend Sam Stott gave you
tho wrong information Iu regard to
our locality. 1 think,
"I can tell you, Mr. Minor mini,
as soon iih hoiiio of our old time pros
pectors come hero ami sen foi them
selves, tho loport will go like wild
lire, mill unity outside of Oregon,
too. Their wortl will go a gieat ileal
farther than newspaper talk. All 1
ask is justice; honor lo whom honor'
Is duo. I'm tho boy that has shuck,
the best thing in Oicgon. and I know !
what I am saying. I have got tho,
goods hero to prove it."
NORTH POLE HAS LOTS OF
ORt BLOCKED OUT AHEAD
Tho North Pole, It is understood,
let out foiiiteou men this iiioiullig.
Tho only significance attached to tho
liaiiriictiou Is that tlio company has
010 blocked out it lung way ahead,
and tho services of tho men weio not
Thi! moil weio dlrchaigcd, it Is
stated, without icfcioncn as to
whether they were union or non
union. IIMBtR UNO, ACT JUNl S. II7I.-N0TICE fOU
UnlteJ States LanJ olfice, I
La (iranJe, Oregon, March ij, 1004. i
Notice Is hereby given that In compliance with Hit
provisions of the acl ol congress ot June 1, 1878, en
lltleJ "An act for the sale ol limber Ian Js In the states
of California, Oregon, NevaJa anJ Washington Ter
ritory," as extenJed to all Hit Public LanJ Slates by
by act ot August 4, I8y?,
THOMAS 0. GWYNNK.
ol Sumpter, county ot liaker, state of Oregon, hat
this Jay tiled In this ottice lilt tworn statement No.
jofco, lor Iht purchase of the W K S W )(. Sec. ti.
NWKNWXol Stc. No. 18 In Tp. No. 10 .s.
rangt No. )6 iwm, an J will offer proof to show tbal
the land sought It more valuable for Its t'mber or
ttont than for agricultural purposes, anj lo estab
lish hit claim In talj lanJ btfort Charles II.
Chanct, U. S. Commissioner, at til. office al
Sumpter, Oregon .on ThursJay, iht and day ot Junt,
Hi names at witnesses: Van Rtntsttaer . MeaJ,
Ralph MeaJ, Nicholas T. Tallaltro, James W Con
nella, all of Sumpter, Oregon.
Any and all persons claiming advtrttlv tht above
described lands art requested to flit their claims In
this office on or btfort said and day ol June, 1904.
E. W. Davis, Register.
United Statu laPdOfttce. I
1..1 (irande, Oregon, March ioci-I
Notice Is hereby given lh.it (Ml. IV'r'n, wbose
roMotttce address i William, Arlir.i. be Henry
Hewitt. Jr, whose I'oMottiie iJJtess l Taiotri,
Wast ItiRtnr. did. on tin: t.l Jav ol arc!', iwi.
make application to select, under the Act nt June
4, ifa? In Mat., 6, the tallowing described Incus
Tlio S I: ', nt section i and the S 4 ol the N I!
and Ints t and a ol section J. Tp. to south, range
tin s., in other countv.vjregon
Tlut the purpose ot this nntki Is to allow all per
' sons Cl limine the selecied lands under the mining
I laws, or deslnng to show II to be tnlnet.tl In charac
I tor, an opponunlt to Me objections to such selection
! with the olllcers ol the I'. S land Oil Ice at la
. (It.inJe Oregon, within thlitv Javs alter He hrsl Jiy
, nt publication heteot, so as to establish their
Interest therein or the mineral character thereor.
I C. W. DAVIS. Register
I'lrst publication J ate J March g, 1004.
TIMIiER LAND, ACT JUNl: ), i8jS.-noticb ron
Unite J States I anj Office. i
La (iranJe, Utegon, .Match a, 1404, 1
Notice Is hereby gUen that In compliance with the
provisions ol the ad ol congress of June I, 1878, en
title J "An acl lor the tale ot Umber I in Js In the states
ot California, Oregon, Nevada an J Washington Ter
ritory," as extended to all the Public Land states by
actol August 4, i&,
WILLIAM A. fiRKLN.
of Sumpter, Count) ol llaket, State ot Oregon, hat
this day tileJ In this office tils swoin stateirent
No j88i. lor the purchase ot the N)i NI.H, NLSf
NWJi anj Lot i ot Section No. jo In Township No.
it S Range No. 8 ti. W. M., anj will oiler proof
lo show that the lanJ sought Is more valuable
lor Its timber or stone than for agricultural
purposes, anj In establish his claim hi
said lanJ before Chas. II. Chance, U. S. Com
missioner, at his ottice at Sumpter, Oregon, on
ThursJay, Iht loth Jay of May 1004.
He names as witnesses: Ralph MeaJ, Van Ren
talaer MeaJ. AnJrew J, Denny, anj Stephen
Jackson, all nl Sumpter, Oregon.
Any anJ all persons claiming ajversely the above
describe J lanjs are requesleJ lo tile their claims In
this office on or before salJ iglh Jav nt May,
1004. L. W. DAVIS Register.
riMllbK .LAND, ACT JUNU 3, 1878
NOTICI: TON PUBLICATION.
UnlteJ States UnJ Oftice,
I a (iranJe, Oregon, .March a, 11104. I
Notice Is hereby gl en ttal In compliance with Hit
provisions ot the act nt Congtess ot June 1, 1878, en
tlllej "An act lor the sale ot timber lanjs In tht
flairs Ul ihimoio.i, wieK"", i.cvnja, anj ..hsiiiuk-
tnn Territory," at extended to all the Public Land
Stales by act nt August 4, 1801,
WALTI.H L. SPARKS,
ol Sumpter. couniv ot llaUer, state ot Oregon, hat
this Jay MeJ In this ottice hS sworn statement No.
jF86 tor the purchase ol the W Jj N I: )(, NW!(S
l:KanJNI.!i S W Jf ot section No. i In township
No. 10 south, range .No. 18 I w , anJ will oiler prool
ti. kl.ntu tl.ai If. I in. I niiiiili! Ik miiiih tnlii.hli. t.ir It.
timl er or stone than lor agrlcullui.1l l'ut uses, anj In
eslalllsh his tlilm to salJ land lelnre Chatles II,
Chance, U, S. loiiimlssloner, at his ottice at Sump
ter, Oregon, on T hill sJa) , the i,th J.i) vl ,Mav, 1004.
He nimes as witnesses Van Reltnsel'er Alead,
Ralli MrnJ, William A. (neeii anJ (.In I Irs I.
I crrv, all ol Sum) Irr, Oregon.
An 011 J all persons Claiming aJterteli the abnvn
JescrlbeJ lands ate re.fueste I lo tile their claims in
this ntlne on or leloie salJ i,lh Ja ot .May, 1104.
I.. W ) Wis, Register.
1. 11 I-,-. --,. sin " '"
TIMIII.R UNI), ACT JUNl: 1, i8i8N.oili.il l oil
UnlteJ States 1 .111 J Olfice,
I a firanJe, Oregon, I el mar) v(, lv"4 I
Notice Is hertly gUen that in ionillance with Hit
pim Islons ol the act ol Congress ot June 1, 1878 en
tilled "An act lor the sale ut Umber hnJs In tht
States nt Calllninla, Oregon, Nevada and Washing
ton Territory," as exIenJeJ to all the Public Land
Slates by ad ot August 4, 8.
IIIINRV A. CARRIS
ot Canyon Cllv Cinitil) nl Crant State ol Oregon,
has this Jay lilt J in this ottice his sworn state
ment vn ig8, lor the urchise ol the S W !( S 11 M
section No. If. M.'f .N'! .111J N'l N i: !, ol sectkn
No, 1 Tr- No i south lr. No 17 IWM,anJ will nllrr
prool lo show that the lanJ sought Is mote valuable
tor Its llmler or stone than lor .igtlciillural putposet,
anJ toeslsbllsh his claim to slid landletoie Chas.
II. Chance, U S. Coimrlssioner at Ms ottice at
Sumpter, Oregon, on Monday, the gtli day ol May,
He names as witnesses Van Rensselaer Meal,
Ralph MeaJ, ol Sumpter, Oregon; lemuel King,
I eiiniel Harnett' ol Audrev, Oregon.
Any and all e isuns claiming ajversely the above
JescrileJ lands are reuesteJ 10 tile their claims In
this otlice on or belore said nil Js ot May, 1904.
I: W. DAVIS, Register.
TIMBER UNO. ACT JUNE 3. llil.-NOIICl fOU
United States LanJ Olhce,
l.a (iranle, Oregon,
I'ebruary ijtli. 1134 )
Notice Is hereby cis en lliat in compliance with tht
provisions ol the actol congtess ol June 1, 1878, en
titled "An act lor the sale ot timber lands In tht state
ol California, Oregon, Nevada and Washington Ter
ritory," at estenJed 10 all tht I'utllc Land titles by
acl ol August 4, 1841,
ARCHIHALD T. VLTIDLR.
of Sumpter, county ot liaker, state of Oregon, has
this day hied In this oinct hit sworn statement : N
tool, lor Hit purchase ot Hit SH Swjf, Ne) Swtf
and SeX rM ol section No. jj In township
No. ii south, rangt No. it '. and will
offer prool to show that tl.t land sought Is mora
valuable for Its timber or ttont than lor agricultural
purposes, and to establish his claim lo tald land bt
fort Chas. II. Chance. U. S. Commissioner, ad
Sumpter, Oregon, on Tuesday, tht oth day of
Via 'Jmes at wllntsttf. I'eter J. SoarJa,
William Ketly. Robtrt Patterson, Robtrt W. Rllty,
all of Sumpter, Oregon.
Any and all ptrsont claiming advtrttlv Iht abover
described lands art rtquttted 10 tilt ihtlr cla nt la
III t otfict on or btfort tald tjjh day ol April, ia
E. W. DAVIS, Rtfltttr.