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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (July 13, 1904)
Wednesday, July m 19.04 THE SUMPTER MINER 3 WILL OPEN UP THREE MINES THIS SEASON L. V. Swiggett Says He Will Develop the Golden Chariot, Orleans and Constellation. L. V. Swiggett reached Sumpter today, accompanied by bis wife, thoy having been detained for aomo days in Montana, owing to the illnesss of Mr. Swiggetf.'s father. To h Miuer represoutatlvo ho stated that wbilo oast be arrangod t.o do velop three properties hore this Hiitumer, tbo Golden Chariot, Dear tin I eh district; Orleans, Craokor Creek, aud Coustellntiou, Cablo Cove. Regarding tbo lattor, though his eaHteru arrangements for Hocuring the necessary fuuda aro perfected, j on certain couditious, ho id not yet certain that he can mako con nections at this end of tho liue. Ho will begin work at the Cioldon Chariot Monday and push things there as rapidly as posslblo, using all tho men that can be worked to advantage He is of the opinion that the litigation instituted by W. W. Wado against Dr. tirook, involving tbo title to an interest in this prop erty, will in no way alfeot tho sale, as thoro is no Haw in tbo abstract of titlo, Mr. Wado basing bis claim on an alleged verbal undorstaudiug. Tho payments will bo deposited in the Fitst National bank as they be come duo, which will conform to tho bonds. Work was to have been started on this miuo July 1, but under tbo circumstances which caused the do lay in Mr. Swiggott'a arrival, no protest to this minor deviatiou from tho terms of tho coutraot will be mado. Work on tho Orloaus will brobably bo starotd next week, but it is barely posslblo, owing to tho dosiro to rush development at tho Cioldon Chariot, it will bo necessary to wait another week before beginning thoro. Minor tenders will remember that last fall a very valuable ore body was un covered on this property. A sinking plant will be installed lator in tho season. Mr. aud Mrd. Swiggett will re main in Sumpter continuously from now on, ho having agreed with tbo eastern capitalists who furnish the mouoy for carrlyng on this work that ho would give it his personal uttontion. pectus" to fulfill its mission, which is that of instructing the render ooucorniugall tho essential facts alfeot ting the enterprise under considera tion. Originally ho prospectus was a written instrument. It was used to present its ontorpriso to a few in dividuals by menus of personal solicitation. Under such circum stances it would have been folly for an incorporator to approach an in vestor with incomplete information concerning tho subject in hand, for questions would certainly follow aud tho incorporator's failure to answer them completely and sincerely would at once stultify his mission. The development of tho prluted pros pectus has not mado any change in tho essential principles upon which tho interest is built. It does not justify evasion, nor doos it lessen the responsibility of the incorporator hi tho matter of answering all ques tions, whether he does so by means of thoprospectUB itself or by private letter. If tho reader is to be in structed by letter, tho prospectus may just as well bo dono away with altogether. . . . Its purpose is de feated when its ueo is avoided, aud both incorporator aud investor aro correspondingly inconvenienced. A prospectus can bo both candid aud optimistic. Tho optimism of tho incorporator is a fotegoue con clusion. If ho has himself been convinced of tlin merit, and promiso of his enterprise, the facts will equally well convince another aud his optimism will become conta gious. Candor will only add to tho contagion. Daily Mining Record. 616 JOHNNIE SOLD TO IOWA PEOPLE Fred Fontaine and Clark Snydo returned last night from Canyon City where they attended tho sale Saturday of the Dig Johnnie group in tho Greenhorns on a foreclosure to satisfy a mortgage assigned to Mr. Fontaine by Clark Snyde, admin istrator for the estate of tho Into John Zwank, owner of tho property. The property, consisting of four claims, was bid in by tho Rig Johnnie Gold Mining company, an Iowa corporation, at IH,701. Mr. Fontaine hid :t, 700 for the protec tion of tho creditors. Elk Head Saloon. lOIk Head Whiskey, old, line' aud mellow, at tho Elk Head saloon, Cen ter street, Old Olympia stand. Try it. FUNCTION OF A PROSPECTUS Etymologically the Word Means "Fore-glimpse but Now Means Any Old Thing. Under the present highly dovol oped method of iluauoing industrial enterprises through tho co-ordination of small quotas of capital in large aggregates, thoso sharing tho re sponsibilities aud beuolits thoroof being widely separated aud generally unknown to one another, the com pany prospectus has como to bo a necesssary aud very valuable adjunct to tbo system. It has been evolved from tho uecessity of communicating to thousands of distant minds in a comprehensive manner the facts sur rounditg a company's industrial proposition of explaining details in a thoughtful way, so that instead of appealiug to only one intelligence, as is the case with a business letter, it may serve as a communication to readers everywhere. It is a con venience to both the writer and to the reoipieut, a time saver and gener ally a work of art which may aspire to the dignity ef being designated i s a masterpiece. By ten log aa the Icomposito of maiiy private letters it j may be made to answer all questions i arising in the minds of one who j undertakes to study tho ontorpriso it. is designed to roprosent. The pros-1 pectus is an institution peculiar in its functions aud it. will exist so long as in lustrial enterprises are lluiiuced by the present, prevailing method. lOtymologionlly, tho word "pros pectus' menus a "furo-glimpse. " That is to say, it is a comprehensive survey of a Held which ouo has set out to enter, or at least approach. From which it would appear, if the derivation of the word is to be taken as a rule of action, that the pros pectus should l)o designed for tho use aud convenience of tho reader, much less his inconvenience or his discomfiture. Tho prospectus writer, therefore has an obligation imposed upon him which involves primarily his duty towaid the reader aud secondly his duty toward his enter prise. It is between thoso two ox tie m ed that he will tlud the standard mean for his guidance in preparing the instrument so as to make it both comprehensive aud eifective. Tho tondenoy to regard a pros pectus as a piece of advertising, strictly, is unwise, to say the least. A prospectus prepared according to this standard usually brands itself as nothing better than a street hand bill or a circus poster. More than this, it lowers by just so much the diguity aud iutluence of the instru ment in geueral, uudermiuing the very means by which industrial en terprises are best set before the public and encouraging investors to avoid it altogether or to suspect its inferences, it thus becomes mare difficult for the bona fide "pros- . (H4T OP SUMPTER Capital Stock Surplus, $1000 $25,000 officer J.W. SCRIBER . ED. W. MUELLER, R. H. MILLER President Vlea-PrasUUnt Caahiar Safety Deposit Vaults Cold Dust Bought Does a General Banking and Exchange Business AT a stock holders meeting held recently at the l.uey Mine near (ireon horn, Oregon, owned by the (irconhorn (iold Mines and Develop ment Co., tho ollicers and directors decided to sell One Hundred Thousand shares of TrciiHurv stock at LVc per idinro, par value $ 1.00, for tho purpose of furt her development, to erect an electric power plant and to purchase necessary machinery, etc., to put. the l.uey Mine on producing basis. We own H'vc'n eluiniH, have plenty of timber and water. Our tunnel is now in over I 'our Hundred aud Fifty feet., have cut three ledges which asay from f l.r.(M) to f 101.00 per ton. We are now driving into tho (). K. ledge, when surface showings show that it is the richest ledge if tho property. Our property is fully equipped with hunk and hoarding house, olacksmith shop, stable, store house and tunnel house, We have worked two shifts steadv for the past eight months and our ore dump has several thousands of dollars oi ore ready for treatment. The property is well equipped and tho l.uey .Mine has the ore. The property will soon lie on a paying basis and will stand the Honest investigation. Stock can ho boug'ht in nionthlv installments if desiied, f'Jfi 00 will buy KM) shares; fltfO.OO will buy 1000, etc. Anyone who will invent $1000 or more we will furnish free transportation and all expenses to visit the property and in spect it. : :- : : : (i. A. IJcrglnnd. Lumber Dealer, Milwaukee, Wis., President. Ham it. Stntt, Lucy Mine, Orconhorii, Ore., Vice I'rccident. M. !'. Kcogh. Merchant, Milwaukee, Wis., Treasurer. Morris Sullivan, Lucy Mine, (Jreenhorn, Ore., Ahst. Secretary. I'M. Sullivan, Lucy Mine, (ircoiihoru, Ore., Manager. F. It. Morris, Ornin Dealer, Milwaukee, Wis., Director. (Jims. Scholl, Broker, Milwaukee, Wis., Secretary. Make ill remittances to (.'has. Scholl, Secretary, Milwaukee, Wis., and send for further information to i The Greenhorn Gold Mines & Development Co, 307 Matthews Bldg. Milwaukee, Wis. . I -r ( I. I ft-um