The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1880-05-25
What Mr.. w. M. Sargent Told a Press
Reporter.

III our enterprise 10 SUBSCRIBE privately Tor all
the stock offered in eight days since lists were
opened, perhaps your general readers have a
sort of claim to be informed about this, in the
main, home venture. We intend to conduct
subaqueous mining in the rich gold and plati-
mum deposits in the live river beds of the Atra-
States of Colombia, S. A., under license to fuse
for that purpose General Roy Stones Hydraul-
ic Excavator or Dredge.
Q.-Is this the same Atrato River that was
surveyed for a ship-canal route by Commander
Selfridge, u. S. N, of this city, and covered
by his report to our government?
Att is; and his surveys and charts and
those of previous explorers are of the greatest
assistance to us. Indeed without them we
should hardly have thought of going out.
Q.-When did you conceive this idea, and
what has induced you to undertake carving
it out?
A.-Several OF us younger gentlemen, a
number of years ago, got an idea of the min
eral wealth of that country from the naval Off
GERS engaged upon these surveys, and after
painstaking and thorough investigation of
every geological and descriptive book obtaina-
BILE upon that country, we became fully salts
fed that this region fully equalled California
in the richness of its surface or placer wash
ings, and fully determined to go out and work
the sands if we could only discover efficient
methods of working particularly the deeper
deposits, and could overcome the necessity of
doing it by manual labor-a thing altogether
out of the question in that climate for whites.
After carefully considering everything that
seemed at all practicable, and finding nothing
available until last month, we are at length
convinced that we have obtained the neces-
sary apparatus The only matter of surprise
to me would be that others had not gotten the
start of us (for some of the officers of our navy
were so impressed with the possibilities that
they seriouly contemplated going out them
selves, but were prevented 1 presume, by the
exacting duties of the Service) were it not for
the fact that 1 should myself consider it fool
hardy to go out with any apparatus invented
previous to ours, and my confidence that any
competent investigator of this problem would
have been compelled to arrive at the same
conclusion. But now since our license gives
us exclusive rights to use what we consider the
only practicable machine, we do not fear COM
petition. We are not the only persons who
share this confidence in that field for remun-
erative labor-for you will notice among those
interested prominent ex-seacaptain who 1
suppose had independent opportunity from his
own observation and knowledge
Odd you not experience some difficulty
in interesting capital, in the present depressed
condition of the mining market?
A-Not at all. Indeed it seemed to be ex-
actly the reverse. With one or two exceptions
the gentlemen WING have taken hold OF this
have no interest in Maine mines and, 1 say it
with no disposition to disparage our new home
unsatisfactory seemed to regard this a vast
ly more probable and profitable field. l was
surprised to find such wide general informa-
ton about that country. The work is entirely
different in its nature. and we confidently ex-
pect to wash out and bring home $40 to every
81 that will be stamped from our native rocks,
by anything like the same number of men,
QIsee you have raised only SIS 900: is that
sufficient sum for an undertaking Of such
magnitude?
A-Amply so You see there are no salaries
or wages to be paid as the party enlisted will
all serve without other pay than a share in the
results obtained, so the largest item of expense
is removed. Then we have special cpportuni-
ties for obtaining cheaply some of the most
costly mechanical outfit. The figure fixed
covers liberal estimates for transportation of
freight and party out by special charter from
this port, llght-draft stern-wheel steamboat
OF either wood or iron-according to whether
it is thought best to carry it as dec6-load or in
the hold, proper boiler and engine included
Upon TINS steamboat the party will live, and
from Its deck conduct their operations. The
above sum also covers a powerful Worthington
duplex force pump, the necessary pipe and
hose, 100 tons of coal for reliance and emer-
gences, and for the heaviest work-wood be-
ing ordinarily used-provisions for ten men for
five months, wages for help, insurance of
property out, passages home by steamer, and
leaves balance on hand.
Q-Is not that very bad climate for your
party?
Ayes it is. We all understand it SO, but
We udNO iuil uiCulCdl reports 1Of guidance and
shall take competent physician along as one
OF the party, and under his direction we hope
for the best, but assume our risks. There are
number OF men in Portland who have re-
turned from the Isthmus all right.
u GU speak OF live months provisions.
You do not then intend staying all, the year?
A-No, only for the dry season, from Janu-
airy to May. You must recollect that the sea-
sons are just the reverse of ours. 1t will be
impossible to do our work in the rainy sea-
son, both because OF the increased danger to
health and the swollen state of the rivers.
Q-If you do not start till December, why
have you begun SO early as this to form
your corporation?
A-Well, you see that in order to protect
ourselves in the exclusive privileges we have
oDtalned, 1or winch other applications had
been made in part we must complete our Or
ganization and have our money paid in. Then
there is much of preparation and several i'm
portant contracts to be effected all of which
require time
Care not you undertaking more than you
can thoroughly work up in this one year?
A-Certainly; this is but the pioneer band
OF those we shall send out; and it is for the pur-
pose OF lifting out these other parties in the
second year that our treasury stock is reserved !;
it will not be sold nor let loose under any con-
sderation till then, as we have raised every
dollar we require. This fact alone shows our
corporation to be different from some others.
Q-Who are your party?
Avery man is well and favorably known
here. have no objection to showing the
names to you personally, and our list of sub
scrlbers, among whom you will observe some
OF our best and wealthiest citizens. To con-
vince you that this is neither boys play nor a
catch-penny organization, but dead, serious
earnest, request you not to print any names
except my own till after our INCORPORATION.
which will Immediately follow.
The prospectus of the company states that
incorporation will be effected under our laws
with capital of 100000 in that number of
shares; tells how Colombia is remarkable in
history as the richest in deposits of gold and
platinum known. 1t gives the particulars of
the thorough survey and soundings of Trant-
wine, Kelly, Craven, Michler and Selfridge:
shows how the sailors on the selfrdge expe-
dition washed out the gold in their tin dippers:
how that there had been no systematic work.
ing of this region since the Spaniards lost their
grasp on the country by the emancipation of
slaves in the revolution of 1852, and yet, from
the little town of Quibdo, village of 500 in
habitants, $4,000 are exported annually It
then describes the Keystone machine which is
the means, and by which alone, the expedition
can be successful. This invention was neces-
STATED by the nature of the work to be done
in excavating Diamond Reef New York har-
Dor, composed of glacial clay with interspersed
conglomerate rock, too hard to be dredged and
too moist to be blasted-a work that it has tri-
umphantly accomplished over an area of three
acres and to depth of 80 feet. 1t consists of
new application of hydraulics, viz, two i'm
mensely powerful jets from steam force
pump, combined inside an iron pipe, the
lower OF which, called the digger jet, cuts
down through sand and clay, and displaces
small rocks with the ease of a knife through
cheese, and the upper or rejecting jet, which
by powerfully induced stream lifts and elects
with tremendous force the mixed water, sand
and rocks. Its capacity is simply enormous,
and when applied to gold bearing sands, al
though they be too barren to be profitably
worked by any other known system of n.y.
draulic mining, so small is the consumption
OF fuel that the results must be immense,
After getting the sand to the surface, washing
and sluicing it any miner can perform. An
exclusive right to use this machine within the
| territory has been obtained from, tho ,,oton+oo