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

COMMITTEE IN NEW YORK.
'Joseph Kennedy Smyth, Esq., 74, Broadway New York.
Fletcher Westray, Esq. (Westray, Gibbs, and Hardcastle),
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, Bucklersbury.
ExGnizzu—John Arthur Phillips, C.E.

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

PROSPECTUS.
This Company has been formed for the purpose of work-
ing a large range of silver veins, known as the " Olanche
Mines," situate in the Cozo 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 vessols to San Francisco.

The property which will come into the possession of the
Company comprLes six important lodes, as follows :17-

Feet.

..........
Pioneer, now open, 10 et wide ... BMW
Silver Illoinitain(No.l), 7 feet wide at surface 3,900
Copper Point, 3 to 4 feet wide at surface 3,600
liammoil, 10 to 12 feet wide at surface 3,900
Hushes (No. 1), five feet wide at surface 8,600
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 nea7ly 2J,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 potions of veins as they
may be unable to develope by mesas of their own 5t..2.
The purchase of the en:ire property in fee-dmple has
been arranged for on the following tarms, viz.: £30,000 is
to be paid to the vendors after an agent sent on the p_.r:; 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 raid, 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 bean called up on the shares liable to
calls.

The superintendence of the mines is in the hands of Mr.
M. H. Farley, and on the 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 or Mu Company's agent.
The stamping power will be as quickly as possible in-
creased to meet the requirements of the mines, when it is
expected that large profits will result.
Silver mining in the Western States of America has been
very succesoful. 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 £5 per ton.
The Directors have succeeded in secu_ing the services
of John Arthur Phillips, 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
return the receipt to the applicant. Should no allotment
be made the deposit will be returned.
Prospectuses and forms of application for shares may be
obtained at the temporary offices, 10, King's Arms-yard,
E.C., and of Messrs. Hill, Fawcett, and Trill, the brokers
of the Company, 29, Threadneedle-street.
London, Nov. 4, 1865.
FORM OF APFLICAIION 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 the shares
allotted to me.
I am, gentlemen, your obedient servant,
Name in full
Address
Date

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