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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (May 11, 1904)
THE SUMPTER MINER Wednesday, May n, 1904 BROKE THROUGH HORSE, THAT IS A BOULDER of tbe American Telephone company j Hud the 810,000,000 of notes of the , IlHlttmore and Ohio railroad, bus beeii snapped up, has conviuced stockholders thHt money could be raised us effectively, II patience were exercised, at a lower rate of interest , aud by bonds. The offerings of these short time HIGH GRADE ORE AT VALLEY QUEEN Rich Body of Sulphide Ore Uncovered on the Other Side Thereof in the Overland. notes hearing relatively high interest Fopo sf Drift Mft "X Praf and with quick security behind them. , aWJ Ul Vl " l lw l ' 0t tally All in Valuable W. H. Iliilly, or the Overland, was In fiom Ilia propeily today to confer with Manager lliiili. .Mr. Ilaily con voyed Hiiiiin very encouraging In Jormalion. Ho reported that the Iioiho recently encountered on I he lrlft following No. '1 vein had been broken tlnoiigh, disclosing a body of liigh grade hmIIi iilit oie, cariyiug also Home galena and yellow iron. At one lime it wiih decidid to cut around the hoieo, but later il was thought advisable to cniry the diilt straight 4in. Tim IiihI sIioIh hermit Mi. Iliilly left hiokn into the vein attain, showing one of the best bodices of oie, to all uppeaiai cs, jet encountered at the mine. The depth at the point in ipiCStiflll in l)l) ffl't. Work Is being prosecuted at vn lions other parts of the mine, aud the high grade stulf Ih being sacked for shipment. The how encountered, as men Honed above. Is nothing moie or less I bun a gigantic boulder, Hiid the the oilstsaie pulling their brains to formulate some satisfactory cxplaua Hon to account for linn it reached Hint depth, breaking into a well defined vein. Thcic win certainly j things doing in HihI vicinity at that ! remote time. ' are believed by a ureal many stock holdeis of the various corporations , to have had much to do with the in ertness of tlio bond market. The j ordinary bond is not in a position to ! compete, ho fur as attractiveuss noes, wiiii w.e soon nine nine, auu iiamr ally the dealings In bonds, while the the notes were being poured out, have grown giadually less. It has been said, however, that with oue excep tion, practically all the big short time loans which were hanging over the money market have been placed. New York Hunker. Stuff. WILL START WORK ON GOLDEN EAGLE WHY CROOKS LIKE GOLD CO. STOCKS 'Nothing append to the imiingc investor so strongly as gold mining. There is a fascination about It which cannot easily be explained. The industry has iccclved mote blows fiom uiiM'iupulnus frauds than any other hcciiusn of this fact. The magnetic altiuctioii of the gold Holds of the world for mankind since the first pae of history was written; the eiiormoiiH ylehlH from placer and quart, milieu in modern times; the .colossal fortunes which have been built up by those who have been fortunate in mining business and the know ledge HiMt 110 business on earth is no prolllablo, as gold mitiuig under favorable conditions, have a tend ency to turn the attention of invest or to this industry. It is the knowledge of this desire on the part of Investors to become interested in mining that prompts dishonest piomoters to choose this ludustiy as their Held lor opeiatious. And for this reason no other in dustry iieitJs to be guarded as much us this. Miuluu men who aie npciat iuit legitimately have been handi capped by the bad eltecls of dishon est pioitiotlou, fraudulent dealings, icokless Minaudciing of funds and bad umuiigcmcut, and it Is their liusiuess us well as the business of legitimate miuluu journals aud state tillhilals to piotect the industry which menus so much to them. The short-sighted policy which In duces the business men in certain districts, and the local press to per mit by silence, if not actually to cover up the operations of swindling stock peddlers, because they arc ex peiidiiiK a certain amount of money, a small peicentage of what they lire receiving from investors, in the particular locality which thoy have selcted lor their base of operations, Inn winked an Incalculable injury to those disricts. It takes years for a mining district to recover tiom the hand ellects of falluics, where in most instances falluies, should not have occurred, but which weie precipitated by the unbusinesslike actions uf dishonest promoters, who cared nothing for the iuteiests of the district, nothing for the money leceived from investors, except to Muander it 01 enrich them selves. There are prollts enough in mining without resorting to trickeiy or vlllaniy. It ieiiires comblutainus of capital to open the mines. Hut let us obtain it honestly. Lei the investor purtidpile in the prollts as well us in the xpeue of developing aud eiulpp!nu imi.es. Mexicau Investor. Dr. A. A. Litsky, of liolse, who was in .Sumptcr during the smallpox epidemic several yearn ago, was on the train this moruinic uuiug out to i (..niiinuiiiK showing Tom C. (Jray, superintendent of the Valley Queen arrived from the property at I! o'clock last uigbt, aud will remain in town till Monday. Mr. titay brought with him some samples from the face of the No. .'I drift, which has every characteristic of beet (trades of Cable Cove ore. Assay leturus have not yet been ro cieved, but the samples are evidently rich in gold sulphides with a lesser per ceut of chlorido of silver, judg ing from appeal ances. The sulphides, however, largely predumiunte. Miu'tig men who have ox a mined tbo oro say it Is among the best they have ever seen coming from the Cable Cove district. Mr. (.irny says that the work of the force Is being concentrated on drift No. !l, which is making a' most en- The entire face, RAIL ROADS BORROWING VAST SUMS OF MONEY 1 Calculations which have been in ado in Wall street indicate that the borrow lugs by railroads and Indus trials 011 their notes within the last year have amounted to over i?I50, 1)00,000, 110,000,000 of this haviiiK been borrowed since the first of lauii ary, In the same period new bond issues have amounted to some 685, 000,000 and new stock issues ?JG, 000,000, makii.g a total since the Hist or the year of about 8'J 10,000, 000. The average rate at which these loans have been made bus been, with commissions, in the ueighhoihood of ! per cent. Within Hie past mouth there has been a gruaiug opposition amuug stockholders of the milrods aud bin corpoiatious to the coutimiuuce of this policy of borrowluti uiuuey ou notes. The tlilfereuce in the interest paid by the rlulrouds uud industrials 'for their money aud that paid by .in dividuals has been oue of the causes i of tills opposition aud the celerity, jespecluly of lute, with which the big I loans such as the J'JO, 000,000 uotes hlhiiunrtz property, the Hidden ttaglc, near I'ralrie City. Dr. Litsky had with him a foice of men, aud will start up operations, immediately upon his arrival. I'revlous work at the (ioldeu Eagle has shown u ledge measuring eighteen feet in width aud curry I ok good val ues. The foimatioii. Dr. Litsky says, Is sylvanlte quart, and the showing is such us to warrant e.xtciiFive de velopment. He has great talth in the mineral possibilities of tlio Prai rie section, aud thinks this oue of the comliiK uiIuIiik regions of eusteru CreKou. It was during his service here in the smallpox epidemic that bo picked up tbo property. he says, Is piactically which though not yet every indication of This drift was started all in ore, solid, glvea peruiaucucy. liiii feot iu Still Five Feet of Snow. M. K. Iiaiu came iu this uoou from the Overlaud. He says there ia still Ave feet of suow at Cable Cove; that it has melted very slowly during the past three weeks, until yesterday, when the warm suu got iu its work. The road baa not beou opeued be yond tbe Amazon, there beiug no travel except tbe light buck board that takes in tbe malls. uu the muiu crosscut, and has now beou driven south a distnuce of thirty feet Iu the directiou of the famous Monupiitul. The development work at the Valley Queen bus been examined by u num ber of reputable miuluu meu, who sar it Is beiug conducted along cor rect Hues, uud that the property will undoubtedly make a profitable producer. Mr. tiray saya tbe rouds to tbo Cove am tapldly improving, but tbia cuts little figure with tbe Valley Queen sitice tbe nianagemeut has now a supply of provisions on bauds sufficient to last three mouths. Don't Go to St. Louis I 'Till you call at or write to the Chi- cuho, Milwaukee aud bt. I'aul rail road. Office UU Third Street, Port laud, Oregou. Low rates to all poiuts East, iu counectlon with all transcuiitlnentals. W. 8. HOWE, Ueueral Agut, Port laud. Oregou. WORTH READING YOU CAN MAKE MONEY IF YOU BUY THESE STOCKS VALLEY QUEEN-PRICE 9 CENTS Capital $250,000. Th Coming Great Mio ol Ibc Cable Cove Dutrict. Rectal big strikes show values oi over $18 J per ion. A sure Producer. An investment In Vallev Queen will many times double your money. j jt j jt BUCK. HORN-PRICE 10 CENTS Capital $500,000. Will be a Greater Blue Bird. It has the ore bodies of this famous property. An investment In Buck Horn is like finding money j j jt j jt j j Write today lor Prospectus and lull information. Men tion No. 60 and we will mall you free six months the NORTH AMERICAN MINER WHEELER & CO. Inters 32 IMAIWAY, N. Y.