The Sun.
London, England, 1865-11-06 00:00:00

P 7

N°. 22,8 N.

THE SUN, LONDON, MONDAY EVENING, NOVEMBER 6, 1865.

THE OLANC HE SILVER MINING
AA COMPANY (Limited).
To be incorporated under "The Companies Act, 1862."
Capital, £lOO,OOO, in 20,000 shares of £5 each.
(With power to increase.)
Deposit, £1 per share, payable on application. No further
payment will be required for four months at least.
DIRECTORS.
Edward Cropper, Esq., Swaylands, Ponshurst, Kent.
John Fisher, Esq., 60, St. James's-street.
Robert Gillespie, Esq., 6, Lime-street, London.
Richard Henry Glyn, Esq. (Robert Benson and Co., London).
Frederic Foster Quin, Esq., M.D., 111, Mount-street, Gros-
venor-square,

lIJ. and D. NICOLL, Tailors to the Queen,
• itoy:l Femily, sad the Courts of Europe.—For
GENTLEMEN, the FASHIONS for the SEASON, for the
promenade or demi-dress--Superfine frock coats, with rich
silk breast facing", or morning coats of superfine Melton
cloths, ,he charge for the 'onner ben 3i to 14 guineas; for
the lamer, 2i to 3', guineas. For ne9.•.36 pu-poses, mot n'nl,
coats wish pocket fin )s at he waist, also the negli,7_,e j ^kets ;
these are of Meiten, fancy coat'-n-s, Angola and Cnev:o's,
the prices f-om 335: to 4- guineas. The Angolas and Chev2ots
are a'so made i-i sets, at prices from 2 to 4 gr'neas ;
evening dress, W.:ark cloth of the finest qti3';l;y. For
overcoats—Me.'on, Beave-, and Vir;tnev cloths, ,ion 2
to 8 guineas. For vouns., gentlemen 'rom eight yea 'a of age
—The morning coat and neglige jecket ; also sus o' A nlola
and Cheviot. the pr'ces according to size, conamenen at 31s.
6d. the atilt. For bbys from ion* years of sge—The kn'cker-
bocker and Highland costume of black velvet, or fine cloth
dress and of Angolas and Cneviots for morning..thc; p,,ce of
the first size kn'ckeroocker, 1 guinea the suit. 1,07 overcoats
—Melton, Beaver, and-Witney cloths, from A to 2 guineas each.
Foreigners and visitors to London. Manchester, and Liver-
pool, will find at Messrs. Ificolls s garments ready for :male-
diate use, or made to order at a 'ew hours' nottc,.—H. J and
D. Nicoll, 114, 116, Vs, in. Regent-street; 22, Cornli'll,
London; 10, Mosley-street, Manchester.; and ~0, Bold-Street,
Liverpool.

" It is truly marvellous."—Tunes.
SERPENTS."
• Post free 13 stamps.
STEREOSCOPIC COMPANY,
Cheapside, and 110, Regent-street,

.F 4 ERYB 0 D Y'S BUSINESS

COMMirrLE IN NEW YORII.
Joseph Kennedy Smyth, Esq., 74, Broadway New York.
Fletcher Westray, Esq. (Westray, Gibbs, and Hardeastle),
New York.

BANKERS.

Messrs. Glyn, Mills, Carrie, and Co., 67 Lombard-street,

BANKERS AT SAN FRANCISCO.
The Bank of British Columbia.
SOLICITORS.

Messrs. Hughes, Masterman, and Hughes, 17, Bucklerbury,
ENGINEER—John Arthur Phillips, C.E.
BROKERS.

Messrs. Hill, Fawcett, and Hill, 29, Threadneedle-street.
Temporary Offices-10, King's Arms-yard, E.G.
PROSPECTUS.

This Company has been formed for the purpose of work-
ing a large range of silver veins, known as the " Olancho
Mines," situate in the CO3O district, Tulare county, South-
ern California.

The district was formerly a part of Mexico, 170 miles
south of Virginia City, and is on the same general range of
silver-bearing mountains. The climate is favourable for
working during the entire year. The port of Los Angeles
is about 150 miles distant from the mines, by good roads,
and from which there is regular weekly communication by
steam vessels to San Francisco.

The property which will core into the possession of the
Company comprises six important lodes, as follows :

Foot.
Pioneer, now open, 10 feet wide 3,900
Silver Mountain (No. 1), 7 feet wide at surface 3,900
Copper Point, 3 to 4 feet wide at surface 3,600
Mammoth, 10 to 12 feet wide at surface 3,900
Hughes (No. 1), five feet wide at surface 3,600
Three-inch, 1i feet wide, at surface 3,900

22,800
In addition to the mines, the Company will own a tract
of land of 1,280 acres, giving grass and timber sufficient for
all purposes. A mill with eight stamps is now ready for
operation, and others will be speedily added for the pro-
per development of the mines.
The large area of this mineral property may be estimated
by comparing it with the famous " Gould and Curry,"
which has only 1,200 feet, and with other companies,
which are paying dividends, working as low as 50 lineal
feet. The Olanche Company will possess nearly 23,000
feet, upwards of four miles in length, which extent is suffi-
cient for the establishment of several companies, and the
Directors reserve to the Company the power of selling or
leasing at royalties such veins or poi tions of veins as they
may be unable to develope by means of their own staff.
The purchase of the entire p2operly in fee-simple has
been arranged for on the following.terms, viz.:— £30,000 is
to be paid to the vendors after an agent sent on the part of
this -Company shall have examined the mines, verified the
correctness of the statements as to their value, certified
that £20,000 at least has been expended in their develop-
ment ; that the titles have been fully established, and the
Company placed in full possession of the property.
A further and final cash payment is to be made to the
vendors out of the first £30,000 of net profits, in the pro-
portion of one-third part of such profit to the vendors,
and two-thirds to the shareholders, pro rata, as realised,
making £20,000 to the shareholders in dividends, and
£lO,OOO to the vendors.
So soon as the mines shall have yielded the specified re-
munerative return of £30,000 of net profits, the capital will
be increased by the creation of 40,000 new shares, of
which the vendors will become entitled to 30,000 shares,
not subject to calls, but participating rateably in the future
dividends.
The other 10,000 shares will be offered for distribution
amongst the then holders of the 20,000 original shares.
. .

For:- participating in dividends, the shares not subject
to calls will be credited per share with such an amount
only as shall have been called up on the shares liable to
calls.

The superintendence of the mines is in the hands of Mr.
M. H. Farley, and on tho completion of the purchase a
thorough practical staff will be sent from this country.
The Directors have ascertained that Mr. Farley is a gen-
tleman of great ability and high standing, who has devoted
much time and attention to mining operations, and is well
known and highly estimated in California.
_ _ _

The Directors are assured that the veins can quickly be
made productive with the mill and the stamps now on the
mines, and to work these it is stated that there is a suffi-
cient water power available, but in order to bring the veins
into large produce at the earliest possible period, the ven-
dors have recently purchased in America, and have for-
warded to the mines, a new steam engine of 40 horse power,
with additional stamps, machinery, and tools, waggons,
terms, &c. ; they have also sent at the same time a gang of
working miners, under a proper master mechanic, from the
Eastern States, and there is no doubt that all will be on
the ground and in operation before the Company's engineer
can arrive. The additional expenditure since the Ist of
June last is to be reimbursed to the vendors on the valua-
tion of the Company's agent.
The stamping power will be as quickly as possible in-
c....ea to ravvb the. reallireineMb of ateLleb, -vrhAll it LS
expected that large profits will result.
Silver mining in the Western States of America has been
very successful. Experience has demonstrated the fact that
well defined veins of silver ore do not generally give out
in working, but, on the contrary, frequently grow richer
and larger in depth. Several mines of almost unparalleled
richness are now in full operation, and veins, which yielded
but a few ounces of silver to the ton near the surface, have
been found to give much larger returns at a depth of from
100 ft. to 150 ft. The average in one district, from the
regular workings of the mills, has reached 200 ounces in
pure silver to the ton. Ores from the Olanche Mines, not
selected, have yielded from 70 to 180 ounces, and this at
but a short distance from the surface. The expense of
working the ore is estimated at about X 5 per ton.
The Directors have succeeded in securing the services
of John Arthur Phillip,' Esq., as mining engineer, who is
already on his way to the mines, and will report to the
Directors. Should his examination be satisfactory, he will
prolong his stay at the mines, and, in conjunction with
Mr. Farley, arrange the future plan of operations. Mr.
Phillips has placed his undivided services at the disposal
of this Company for six months, from the 19th of October.
One-third of the capital has been already subscribed.
Applications for the remaining shares in the annexed form,
accompanied by a deposit of £1 per share, must be sent to
the
bankers, who will retain the form of application and
edpee tehtueedeeepeonsditf7l3ll beofreeptuprnliceedt
return the reseipt to the applicant. Should no allotment
be
ePmroa *ion for shares may be
obtained at the temporary offices, 10, King's Arms-yard,
e-y-ard,
E. 0., and of Messrs. Hill, Fawcett, and Hill, the brokers
of the Company, 29, Threadneedle-street.
London, Nov. 4, 1865.

FORM OF APPLICATION FOR SHARES.
To the Directors of " The Olanche Silver Mining Company

(Limited)."
Gentlemen,—Having paid to your credit with Messrs.
Glyn, Mills, Currie, and Co., the sum of £ , being a
deposit of £1 per share on shares in the above Com-
pany, I request that you will allot me shares of £5
each in " The Olanche Silver Mining Company (Limited),"
and I hereby undertake to accept the same or any similar
number which you may allot to me, and I agree to become
a member of the Company, and request you to place my
name on the register of shareholders in respect of theahares
allotted to me.

I am, gentlemen, your obedient servant,
Name in full
Address
Date

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acting with him in the proposed Rasen line were not
prepared to go to Parliament next session. As far
as he was individually concerned he did not care
which line was proceeded with, provided that it was
that which would be most advantageous to his fel-
low-townsmen; and if, through any exertions of his
he had done anything to promote that end, he was
satisfied.
Mr. T. JACKSON endorsed Mr. Wilson's statements.

Mr. R. NORFOLK proposed—
That this meeting do cordially support and ap-
prove the proposed railway from Louth to Lincoln ;
that steps be taken to procure an act for the same in the
ensuing session of Parliament, and that a provisional
committee be appointed for that purpose."
The Rev. F. -PRETYMAN seconded the resolution,
and strongly urged the advantages of the Lincoln
scheme over any other that had been suggested for
the benefit of Louth.

The resolution was carried unanimously.
Mr. C. E. LUCAS proposed, and Mr. J. B.
SHARPLEY seconded, the next resolution, which
was,—

" That a deputation be appointed to wait upon
Mr. Heneage, M.P., as the largest resident land-
owner, and ask him to act as provisional chairman,
and the other landowners to act as provisional
directors."

This was also carried unanimously.
The third resolution was carried unanimously, to
the effect that a. prospectus be issued and circulated
descriptive of the proposed railway, and inviting
subscriptions to be paid to the account of the com-
mittee in the Louth banks.

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