The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-02-06

SPECIE BASIS MINING CoMPANY.-The follow
ihg editorial from the EUenin0 Bulletin is OF in
terest 10 those engaged in mining specula-
At the close Of our civil war number Of en-
terprlsing gentlemen sent out an exploring
expedition to investigate the rich mining terri
tory or Arizona. They engaged the services of
practical engineer, with o corps of twenty
natives. who traversed carefully all that section
of country, On the receipt Of his report they
finally made choice OF the fand which forms the
groundwork OF the Specie Basis organization.
United states, and the deeds therefor are duly
recorded on the books Of Mohave county accord
ton by many considerations The first was that
IL was further to the southwark than other
mines previously developed, and the theory of
geoogists is that the metallic veins radiate
from the centre of the earth or the equator; the
nearer, therefore, the proximity to that centre
the greater their value This theory is fully
confirmed by the richness of the mines in
Mexico ana Peru. Secondly the climate was so
mild that labor could be carried on without in
terruption for all the twelve months of the
year Thirdly, the site chosen was within fifteen
TO twenty miles of Hardyville "A shipping point
on the Colorado river. This in view OF the
weighty material to be transported was indls-
pensable; as by the Colorado, navigable for
steamboats, and barges, an uninterrupted water
communication was at all times within their
reach direct TO San Francisco. Upon the basis
of this property, thus judiciously selected the
Specie Basis Mining Company was organized
with a capital of S5000,00 divided into 500 600
shares at $40 each
None of this stock is for sale: but the Direc-
tors have determined to set apart 10000 shares
Isl 100000 of stock, and S250000 in bonds, as
Working Capital, and to rely mainly upon the
negotiation OF their loan.
The manner IN which this loan is to be neRo-
tiated presents features at once novel and
unique in their character. 1t is secured by
mortgage on all the Company's property, now
acquired or which may be acquired, made to
John r. Potter, Esq, of this city mortgage in
trust for the security OF the bondholders. The
certificates will be issued for 500 each, with
coupons attached, and bear interest at the rate
of seven and three-tenths per cent. per annum,
1nN h n1-nn
The S2500O0 bonds are offered to subscribers in
five lots subject to different conditions. With
the first S50,000 shares are to be given in the
proportion of so to every 500 subscribed, re-
quiring 2500O shares. The officers state that this
first series is already taken. With the second
S50,0O0 shares will be given in the proportion of
40 TO every 500. or 10000 shares. With the next
s5O,0OO shares in the proportion of 80 to every
500, or 1900 shares. With the fourth $4,000.
shares in the proportion of 20 to 500, or 10000
shares, and with the last $4,000, shares in the
proportion Of 10 to 500, 5000 shares-making a
holders so much full paid, unassessable stock.
and allows them voice in the management of
the affairs of the Company, while holding at the
same time lien upon all the property, i'm
provements, reduction works, and develop
ments made with the proceeds of their invest
ment,
" e recommend all who desire to invest in
these Western lands, to examine carefully this
scheme of the Specie Basis Mining Company.
Applications may be made, and Information
obtained, at the Office of the Secretary, Mr.. w.
r. Allen, No. 334 Walnut street. corner of
No. 20 Cedar street, New York; William B.
May, ESQ.,, No State street, Boston; and to q.
w. Denison, Esq, London, England.
BREAKING UP.-Stokes g. Co., CIothiers, under
the Continental, are now, IN view of the break
ing up of winter, closing out their fine Winter
Clothing regardless of COST
UPHoLsTERY-Cheapw work either in Mat
tresses. Furniture or Carpets: Labor done done
Gnd No IiO street.
BURNT ALMONDS Rose Almonds, sIceland Moss
Paste. Cream Chocolates etc., can be had at all
times of George W. Jenkins, Confectioner, No. 1887
Spring Garden street
PUBLIC NoTIoE-E. Il. Whitman & Co., No. 318
Chesnut street. are now ready to supply their choice
and pure Confecions put up in neat boxes.
Also, q large assortment OF Imported Boxes, Sur.
prises, and Knick.knacks for Trees.
A CURE FOR RHEUMATISM WORTH SEEINa.-S.
Fitzpatrick, No. 1744 Olive street, cured by DR..
Filters Remedy. No cure, no pay.
FINALE COMPLAINTS should be cured, as they
surely can be, by few doses of Ayers Sarsaparilla
A SURE remedy for Chuls and Fever. Ayers
Ague Cure never fails.
WHO MAKES THE BEST AND CHEAPEST CLOTHING?
WANAMAKRR & BROWN,
OAK HALL,
POPULAR CLoTHIRRs,
Southeast corner sixth ana MARKET Streets
ENOR FOSTERING OR DEVELOPING THE