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.