M
Wednesday. December 28, 1904
THh SUMPTER MINhR
5
u.
PUT
A DATE ON
PROSPECTUSES
It is r fact worthy of note that de
funct corporations seldom have auy
tombstones. Ah a rule, no ono seems
to think enough of them to mark
their last resting placos, state tho
faotB surrounding tlibir births,
ambitions and death, or wrlto an
epitaph. it is for this reason that
the holders of certificates of interest
in such corporations usually find it
difficult to determine what these
tokens of value amount to. Wo have
before called attention to Smytbe'a
handbook of ubsolte securities, which
contains over 700 paces of names
of played out stocks and bonds.
Only a sauill percentage of these are
mining stocks, but the author seta
forth in an entertaining way the be9t
methods of identifying old stocks
and thus determining their possible
value, Incidentally, he indulges in
a little humor at. the expeuie of
mining stocks when be says:
"Mining stocks are generally
handsome, and make the best of wall
paper. Indeed, one of tbej most
hopeful ways to make an old stock
good Js to use it for this purpose.
Then there is n fair abauco that some
oue will want it. Tbre are at Joatt
two well authenticated casos of old
certificates becoming of vuluo after
benig used to paper dens "
The matter is referred to at this
time because of u suggestion mado
last week by Editor Claude Sachs,
of the Miuiug Investor. lie thinks
it would be a good thing if all min
ing companies would date their pros
pectuses aud other circular literature,
and the Record believes the practice
might be introduced with advantage
to all. It could certainly do no
arm to any legitimate company, and
we hardly see bow it ooulii lessen the
doubtful success of the take pro
moter who knows that ha is a fakir
to start with. While it is not lUely
that any company management would
date its prospectus with the motive
of bequeathing posthumous data to
the dealers in obsolete securities,
still the very fact that a dated pros-
peotus would prove of advantage to
iiuah a dealer goes to illustrate the
reason why the dated prospectus
would be a good thing generally.
To begin with, tbe'dato refers to the
fact contained in the printed docu
ment and the said facts are to be
judged according to such definite
date. Later literature can then also
be dated aud the obanget that have
takeu place will appear chronologic
ally aud therefore consistently. We
can very readily ooocelve of cases
wherein a great deal of harm,
not only to the investor," lint to the
compauy, can be done by u i undated
prospectus in the band; or" an un
scrupulous broker.
in any eveut the Fiiggustion is
quite in accord with lue policy of
publicity for mluing companies,
which should give due consideration
to the interests of the investiug
publio in matters of this kind. There
cuu be no doubt that the publio
would find the practice to its advaut
age, with every possibility of benefit
to the companies themselves. Daily
Mining Record.
Case May Aqain be Super.
Captain Aliene Case came up from
Baker City this morning on business
connected with the Sumpter smelter.
Captain Case, whose real military
title is general, having beeu adjutant
general of the uatioual guard of
Idaho, was formerly superintendent
of the Cornucopia mines, uuder the
SeHrles owernership. Duriug bis
regime the property was profitably
opetated and was superbly equipped
with au oleotrio plant, it is currently
reported that Captaiu Case will
resume bia old position with the
Cornucopia wheti that famous prop
erty is reopened after a loug period
of litigation.
BADGER MINE SHUT
DOWN TEMPORARILY
The Badger mine, which for some
time has been one of the greatest pro
ducers In Grant county, has olotod
dpwu for the winter, and. the force of
hands employed by the Badger com
pany has been reduced about onn
tbird. The Htep taken by this oom
pany should not carry the impression
that the property that has produced
such a vast quantity of valuable ore
during the past few years is worked
out, or has ceased to be a producer,
for Buch is not the caso. Early in the
season the company began tho devel
opment of the Bull of the Woods, a
quartz property adjoining tho Budger
mine on the northeast.
Tho hoist at each property whh
operated by compressed air aud tho
approaob of cold weather put a stop
to tho air compressor oporuted by
wuter power, making it necessary for
the compauy to aeaso the opertiou of
either tho Badger or the Bull of tho
Woods miue. it was decided to tem
porarily cease operating the Badger
mine for the next three raontliB aud
give exolusve atteution to the Bull
of the Woods, since its ore can be
bandied at a less cost thau the ore
from the Badger property.
The Bull of the Woods miue has
a shaft on au excellent body of ore
to the depth of 2ft0 feet. Ten new
stamps have beeu added to the
Badger mill for the reduction of ore
from this property, which will be
conveyed to the mill over a new
tramway recently couBtruoted across
Elk creek. The approach of winter
finds the compauy excellently
equipped for the oporatlou of this
property, Mud while they mako no
statement as to the uharauter of ore
taken from the Bull of the Woods,
those who have closely watched the
development of this mine, claim that
it is destined tu be equally as good
or a better property thau the Badger
mine. The Blue Mouutalu Eagle is
Informed that the ore body is very
large aud carries high values. Blue
Mouutain Eagle.
GRANT CO. STOGKMEN
BANDED TOGETHER
A special from Canyon City of
recent date, says: Two element
will figure to a greater extent tbau
ever before in the Graut couuty
range situation next spring, and their
preaeuoe in exaggerated form ia
leading the stookraisors of the
northern part of tho oouuty to take
early measures to protect themselves
against the annual incursiou of out
side sheep. These elements are:
First, decrease in area of open rango
through extensive homestead and scrip
filing; second, increase in the
amount of home stock because
growers have held over on account of
low prices. Briefly, the combination
represents more stock and much less
argue.
The fact that the ueed for self
preservation Ib greater than over bo
fore, In addition to tho perennial
feeling of hostility toward tho out
aide aheopmeu, Iihh led northern
Grant Btoukraisers to begin this early
to prepare to repel tho 1005 in
vasiou. A meeting was held yes
terday at Ilamiltou, where the situ
ation was goue over pretty thor
oughly by the growers of that
section. The mooting was attended
also by sevoral cattlemen from tho
Loug creek seotiou, while all tho
small valleys within 20 miles of
that place contributed delegates A
similar meotlug is to bo hold next
week at Monument. One was hold
last woek at Loug Creek.
Opposition to the outsider for
many years has been largely in
dividual, or at least ounflued to
small communities, lu 1902 Incipi
ent effort begau to got orgsulzod re
sistance together. This effort has
assumed greater propoitlons eaoh
winter, until tho coming soason
promises to son northern (J rant stock
men baudod together in a way that
promises results.
"Home grass for home shoop," was
the auuieut slogan which held f 1 rat.
plaoo at tho Hamilton meeting yes
terday. Passious of settlers present
roso at the momory of alleged depro
dations by outbldo ahoop on thoir
vory farms, and of occasions when
they drovo thoir holdlugH out to
uoighbroiugraugo in springtimo, only
to flud what thoy had couBiderod
thoir legitimate pasturo dovastatod
by flnukH from Morrow, Gilliam or
Umatilla county.
A formal organization has been
effected at Long creek aud Hamiltou.
Similar organization is oxpeoted at
Monument.
Maxwell Mill Runnlnq.
The now mill at tho Maxwoll, ou
Rock creek, oitber started this morn
ing or will start Mouday, according
to II. N. Clark, general manager of
the miuo, who wa in Sumpter yester
day on busiuoHS with tho smolter,
having arranged fur a sleady ship
ment of tho Maxwoll 'a product to
the local plant. "When I left tho
mine Tuesday," said Mr. Clark to a
Miner man, "everything was in read
inoss for milling opertalions, except
a few minor adjustments in tho new
machinery. 1 oxpect to flud the mill
grindiug out gold when t return."
Warren Likes Nevada.
Tnm Gray has lecoivod a letter
from Charley Warrou, at Goldfield,
whither he wnut in the interests of
tho Gray -Warren.,, Investment com
pauy to look over the flold. Warrou
says it is a great camp. Ho was out
surveying with Arthur Philbiick the
other day jmt outside of Goldfield,
operating clalma 12 miles north of
Searoblight.
Another Shipper.
Barney Mulligan has been out to
Sumpter all week looking after a
shipment of ore made during the
week to the Sump'ter smelter. The
ore came from bis claim on Graulte
oreek near here, aud some of it. ia
very rich. This shipment is more in
the uature of a test of oie, but should
it prove satisfactory the property may
become a steady shipper. Gem.
A big out in holiday goods at
Sumptre Drug company. m
the
TRACTION ENGINES
E0R OREGON
Use of traction ongines for de
livery of oro from mines to smoltors
aud railway points, which has often
beou discussed in Oregon but never
yet triod, is becoming quito common
In some parts of tho middle west,
says tho Portland Orogouian A
largo ongiuo has just been delivered
to tho Sater comapny, Now Moxtco,
to haul ore ,'lfi miles between thy
miuo and railway. In that section,
Utah aud Arlzoua, whore steam
power Is used on wagou roadn, It la
estimated that one engine will do
the work of 100 mules uuder avorage
conditions. With culveita aud-.
bridgos strong, even better speed la
mado with an engine t'tian with
horses or mules engaged in freight
iug, aud aB au engine will prooeed
night aud day when working with
two shifts of mon, its' time can be
mado mnro than twloo ea fast as
hauling with toams.
Jj With tho Sumpter Miielter in
commission and tho railroad de
livering oro from only a part of
the region tributary, there Ih an
oxooiiout opportunity ror losuug u
traction engine in the mountains,
and such a trial may be expected
tho coming year. Cracker creek dis
trict is but seven miles from tho
sin el tor, Cable cove 12, and (Iraulto,
Hod Boy aud Alamo 12 to 10.
Greenhorn is now only five to woven
I miles fom tho Tipton railway station.
Susauvillo Ib 20 miles from Tipton,
aud has beou employing from 12 to
20 toams each season. Qiuirtzhtirg la
.'tU miles from tho railroad, and If
uo extension is mado of tho Sump
ter Valley next year, as late wewa in
dlcatos, a traction engine (a likely
to bo tried in this haul for th'e Dixie
Meadows, CopporopoliH, Staudard,
Equity and Koystone mines.
Takilma smolter is 4U miles from
Grant's Pass aud from 12 to in teams
wero put no this route by the Waldo
smoltor management last fall. When
this plaut Is running steadily, and
shipments of coke to the smoltor aud
matto to tho railway Ih regular, a
traction engine would prove of great
eoouomy there, unless tho projected
rail lino takes substantial form In
the meantime.
There was some talk last fall of
tho Portland Trading company
putting a traction eugiuo on between
Huntington and the Iron Dyke mines
following tho Snake rlvor, but aH tho
Iron Dyke litigation suspended all
work the-o. both ou tho mine aud the
now smoltor, nothing further whh
douo, It the NorthweHt railway Ih
uot built down the Snake, and work
is resumed at the iron Dyke and tho
Seven Devils continue active, a trac
tlou eugiuo will probably bo tried
thoro next season.
Cornucopia, 70 miles from liakor
City by the summer route, olfeis
auother opprotunlty for improved
freighting methods. When the big
mine was operating, there were 10 to
12 four and six-horse teams ou the
route constantly, hauling concen
trates out aud returning to the
miue with supplies. Numerous other
places exist in Oregou where heavy
oporatioous on the part of the mlnei
would put forth a large touuage for
short hauls, giving traction engines
au advantageous (laid.
Found Child's
Minor ollloe.
Call at
v