The Sumpter miner., October 19, 1904, Page 6, Image 6

THE SUMPTER MINER
Wednesday, October 19, 194
WHAT BECOMES
OF ALL THE GOLD
It Ih nllloliilly (Htitiiittorl that ift
tliu beginning of tho present onion
rim year tho Htook of gold In tho
world itt largo, in tho form of
motioy, amounted to flru and onu
liulf billion (IoIImth, it gain of oo
billion and a half of dollars sinco
January 1, 181)0. In tho hiiiiio
poriod tho monetary Htook of gold in
tho Unitod States Ih oHliiuatod to
hnvo iuoroiiHiid from hIx hiindrod
million dollars to ovor thirtoon
hiindrod million dollarH. Nearly
ono half of tho woild'H liiuroasu in
monotary gold in tho eight years In
(iioHtion HtandH to tho credit of tho
Unitod States
Ono of tho perplexing things
ahont tho production of gold Ih tho
quoHllon of what becomes of tho
ontiro output from tho minoH. For
example, it Ih calculated that during
tho lint two dooadoH tho world 'h
production of gold amoiiutod to
i?:i,7r(), 000, 01)0. Statistics hhhuiiio
thatduiiugthiH poriod 670,000,000 or
(old on tho average Inn boon
annually uhoiI In tho arts--a sum
that would amount to 81, 100,000,
0U0 for tho two decades in question.
ThiH seemingly would hIiow that
'J.ar.O.OOO.OOO, had uono Into tho
form of motioy. According to rooont
statistic, liowovor,tho inoroaco in gold
coinage for tho poriod moutiouud wiih
only about 1, COO, 000, 000 or
approximately HfiO,00(),000 lom
tlmu thu amount that It Ih estimated
win no I nod into mouoy. Whore Iiiih
tho roHt of (IiIh gold gonoV Or havo
tho statist IcIiiih mado a bad guoHs hh
to tho iiautity of gold that is
annually used in tiio arts?
Coital n it h, tit any rato, that
htiitomontH hh to tho amount of
monotary gold in existence ouusi-it
largely of conjecture. That a con
sidroablo amount of hucIi gold Ih
annually IohI, in ono way and
auothor, Ih boyoud doubt. Probably
not iiiiioh of It Ih huriod, iih wiih tho
case in formor generations; but tin
questionably no little proportion of
it takes tho form of tokoiiH, orua
monts and tho llko, and thiiH dis
appears rroiu circulation, huon
dispositions of gold coin make it ex
tremely dillloult to oitimato with
any mesauro of accuracy tho
Miuuuut of gold coin tbaf nmy lo in
actual olroulation or available lor
circulation.
TllO HlllOUIlt Of gold COlUUgO tlHH
increased ho rapidly lu rooont years,
however, that m dlvorHlon of com
paratively m hiiihII part of it, either
by loss through llrt. Hood or whip
wreck, oau tiavo llttlo effect on thu
valuo of tho romaliilug mass. This Ih
hhowu by tho fact that tho closing
of tho prolilla South African mines
during tho Hoor war appears not to
havo enhanced tho valuo of tho
yollow motMl poiocoptihly; Mild now
Mint those uilnvH Hro again in opera
tlou tlioro Ih btlll Iohh danger of mii
elfeot of thlu kind.' Now York Com
uterolith
Word wiih reuolved today from one
of tho Killeu, Warner, Stewart com
pituy'H I'HtUorn otliooH that money
liud been rwlmui for the Moriiiutt and
iiho liiHtructlonH that a force of men
h put to work on tho property with
out delay.
Or Hhipmeutti from the California
aoutiuue to tho Sumpetr smelter.
INDIANA WILL SHIP
TO SUMPTER SMELTER
J. W. MoHunor, president of tho
Pralrio Diggings mine, und general
manager of tho Indiana Mining com
pany's coppor property near Medical
Springs, north of linker City, arrived
in Sumpter thin morning nnd visited
tho Hinelter to arrango for a Hhipmeut
of high grade coppor ore from tho
Indiana. Accompanying Mr.
Mos-mor wiih (lonrgo C. Irwin, a min
ing engineer from Lima, Ohio, who
Ih in Oregon to examine the Indiana
in the interest 'of a uyudioate of
proHpoctive Htook buyer) from the
Huokoyo Htnto. Tho report of this
export wiih exceptionally flattering.
Manager Meaner unuounccH that
Hteady shipments or Indiana ore will
bo made to the Sumpter Hinelter.
"Wo are sinking in the heart of
an immoiiHo body of copper ore," ho
Hiild today to a Minor man. "Assays
received hIiow that we can profitably
nhlp without coucentrntiou "
FINAL SURVEY OF
EAGLE VALLEY ROAD
W. L. Viuanu, the promoter and
mini riK ninti f Hnker City, yester
day put IiIh corpH of engineers
in the Held who began revising the
llrnt Hiirvey miido foi the railway to
bo built from linker City to Eagle
and IMno valleys, with thu view to the
commenceiiiuut of uoiiHtruntinn work
with the llrat good weather next
HpriiiK-
ThiH is all the information obtain
able from Mr. VIiihoii yesterday, hut
it Ih enough for liakor City people,
who have now the iiHHiirauoo that t IiIh
much needed piece of railroad Ih a
certainty before auothor year rolln
around. What it will do for the do
voloiimout of tho minoH, timber and
agricultural IiiikIh eiiHt of liakor City,
Iiiih often been dwelt upon by tho
Democrat. IluudredH of nplundld
proprotios have only been waiting
the advent of cheap trauHpoitatlou
to be put lu opratiou, and eventually
placed upon the producing Iht.
It Ih expected that the onngiuoors,
who are fully equipped, will complete
their mirvey before snow Men.
Domncrat.
A party of Pittsburg capitalists,
who are interested iu the Mount
Itautus mining district, will leave
their home iu a special car next
Saturday, beaded lor Baker City.
The Heloher stamp mill, now at
Tipton, will be hauled iu over iuow
roads.
TN SUMPTER GOLD BELT
MINING COMPANY
CAPITALIZATION $100,000
F. C. HUOMK,
M. F. MUZZY,
F. O. HUCKNUM,
C. H.CHANCK,
C. II. FKNNKIt,
President
'ice 1'rvHiilent
Soc. ami Treas
Attorney
KngintHir
mum ma the
GREENHORN AND SUMPTER
DISTRICTS
Simitir, OrifM
BLUE BIRD
BUCK HORN
VALLEY
BLACK
Are the greatest money-making stocks on the market today. Investigate them.
Write for annual reports and prospectuses
WHEELER & CO., BANKERS
Dcpt. 60 32 Broadway. New York.
Sole agents for above companies.
KINKS STRAIGHTEN!) IN
THE CORNUCOPIA MINE
A proHH dispatch from Portland
aunoiincoHa that JikIko JiolliiiKcr, of
tho Federal court, has authorized tho
Halo of the Cornucopia mined of
Oregon, thus dmaolviuR a tooiporary
injunction recently issued out of his
court, rofltralniuK Shotiir II. K.
Hrown from hoIIIiik the property
uudor the hammer. The injunction
waH Kfauted upon a petition filed iu
procoedtngH auoiliary to bankruptcy
procoodliiRH iu the Federal court of
Now i'ork, iuvolviiiK John R.
Searles, ex-siiRiir baron of Chicago.
The petition recited that a forced
sale of the Cornucopia uudor exe
cution, to satlsry judgmoutH against
the property, would defeat; tho ends
of justice, in that a privato pur
chaser stood ready to tako tho mluo
for a big figure. An order restrain
ing the uhorilf from disposing of tho
property at forced sale was thoreforo
asked, until such timo as an expert
could examine the mine and report
to the intending private purchaser.
This was done, and Plorre Humbert,
of San Francisco, exported the mine
iu tho interests of a London svndll
cate. Mr. Humbert's report was
evidoutly favorable, because the re
ceiver, W. (i. iieattya, of Ihooklyu,
who .was appoiuted by the Federal
court of New York to protect the
Searles estate, thereafter ordered a
meeting of all parties concerned to
coualder the Loudon syndicate' offer.
This mooting was held two weeks
ago. lidfore uegotiatiou-i could
prooeod further it was fouud neces
sary to seouro permission from the
Federal court of Oregon, before
which auoiliary proceedings were
peudiug, to sell tho mine. This
tlual order lias been issued, accordiug
to the Portland dispntch, aud the
date of the transfer is set as November
21! for tho personal property aud
November 28 for the real property.
A formal anuoucouieut of the
purchase of this celebrated property
by tho Loudon syudiuate may there
fore be ooutldeutly expected.
Upon tho suooesiful consummation
of ths imxed-up Cornucopia deal
depends tho construction of the
Vinson railway from linker City to
Snake river. Coluoideut with the
auuouucemeut that the last romaiuiug
legal tangle had beeu straightened out,
the news comes from liaker City that
QUEEN
BUTTE
W. L. Vinson, promoter of the
Snake rivor railway, had ordored en
gineers in tho Hold to propuro for
construction work in the spring.
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