The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1881-11-19
THE MUTUAL TRUST CT
OF NETWORK.

The North Horn Silver Mining Company organ
capital of 81 600 900 in 400, 900 shares, full paid
and worcestershire The pany has acquired title
to the Great Republic, Spanish Wolcott, Rosa Com
stock and Vanderbit mines, embracing more than
mile of the fsmous Horn Silver Ledge, near Frisco
Utah, about 226 miles southwest of Salt Lake City.
The Spanish mine IS only 800 feet from the Horn
Silver Nine and the groupings Of the North Horn Sill
yer Ledge in many places show width of 90 feet of
vein matter. Concerning the Horn Silver Ledge
Professor j. 5. Newberry, OF the Columbia School
of Mines and an authority in both this country and
Europe says "The Horn Silver Mine contains the
most valuable body of silver ore known to exist in
any mine in the world" And again: s'The Horn
Silver Mine stands to day having greater ascer
tanned value than any other silver mine known"
As an indication Of the richness Of the ledge ID
first nine months of this year nearly S1.100000.
and the quarterly dividends amount to $500, 600.
The properties owned by the North Horu Silver
Company have been reported on by Thomas
Couch formerly superintendent of the Horn Silver,
and his report is Endorsed by Professors Newberry
and Clayton. Mr.. Couch, in his report says:
Each of these claims embraces part Of the vein
known as the Horn Silaer-this name having been
applied to the vein from the first location made
upon it. and because of the immense unparalleled
body OF argentiferous lead Gre developed there
1.-THE surface features or indications of the vein
traversing the several clsims mentioe ed are in my
opinion, indicative Of valuable property vein Of
ore at no great depth. 1 know of no vein in the
West that exhibits features favorable to the deve
opment of great mine nor one with the same
limited developments that feel 50 safe in recon
mending to the public. Its far-fared neighbor, the
Horn Silver with the same openings, was com
parison. But at depth Of one handred feet It had
no rival.'
All Of the North Horn silver workings consisting
of four tunnels and two shafts, are nov in mineral
the Core Tunnel being III heavy body of rich
copper ore.
Mr.. j. E. Bamberger, the well-known merchant
of Salt Lake City, under date Of May 81, 1881,
writes concerning this property;
81 arrived here early this morning and visited the
mines of the North Horn Silver Company. 1 found
the developments in satisfactory condition
and much beyond my sanguine expectations. They
are now sinking shaft on The Great Repnblic, and
prosecuting the vein Of the Wolcott Both of these
workings are in mineral corresponding with that Of
the Horn Silver, and of much more promising
character than the Horn Silver ever had with the
same amount of work. Furthermore, the groupings
Of these mines are the same those Of the Horn
Silver. The Great Republic and Wolcott veins are
from 90 to 200 feet wide, and do not think thore
ia another vein of this extent in the country. tell
you now that these mines will be the biggest and
best ever opened and fully equal to the Horn Silver
Everyone who has seen these mines confirms my
opinion Superintendent Couch is pushing the
work with all possible speed, and he is the most
competent man in the country"
The following is extract from the report of the
Special Committee sent out by the Board of Direc-
tors in July last to examine the property: 1--WE
found In the Spanish Tunnel a fac showing of low
grade galena ore. This tunnel has been driven
length of "a feet-al In mineral In the Republic the
tunnel has been driven 80 feet with the expectation
OF prosecuting the vein, which, by the groupings,
shows width Of from 30 to $50 feet. They are
putting down shaft also on this mine, which has
Aueauy reached depth OF bO feet. In company
with Mr.. i'm Foley, of Leadville descended the
shaft and found all the workings in a solid body Of
lowgrade gelana ore, improving with depth and
very promising. We next visited the Vanderbilt
mine, and there found tunnel, which is now in SO
feet, the workings also being in mineral. The next
mine visited was the Wolcot., which to your COM
the upper tunnel of his mine, which Is now in %
feer, they have struck mineral assayng moderately;
but the most important fact is, it shows the eontin-
uty OF the immense vein running through this great
property. Several hundred feet below we found
the Cope Tunnel, which is now In Go feet. This tun
width of from 20 to 20 feet, yielding about 80 per
cent in copper. 1t is proposed to run in 40 feet
further and then cross cut the vein. If get the
vein here as we have it elsewhere, and only mod
crate grade of ore, will have of the largest
mines and most valuable properties on the conti-
nent."
developments have been made which warrant the
belief that, with an outlay of less than 100000,
the company will be able to place the mines in
dividend paying condition within the coming year.
The entire amount of the treasury stockof the
company remaining unsold (9l, 900 shares) having
been purchased by syndicate an offer Of the same
is now made for subscription by the undersigned at
SO 10 per share.
By special contract between the Syndicate and
the Mutual Trust Company, fund sufficient for
the purpose has been deposited with the Trust
Company to cover the interest on the preferred
stock for period of six years.
Interest will be adjusted to commence on date Of
subscription.
The following is the form of the guaranty of in
terest which is printed upon the face of the certf
Gates and signed by the proper officer of the Nut
ual Trust Company.
THE MUTUAL TRUST COMPANY
OF NETWORK.
Will for six years from date hereof pay fifteen cents
per share per annum, on the shares represented by
this certificate, payable semi-annually on January
list and July lst
New YORK, .........1SSl.
Fifteen cents per share is equal to Ito per cent
per annum upon the subscription price.
Allotments will be made in full of amounts of
$500 end under, and the remainder will be allot-
ed pro rata for amounts exceeding $4,000.
Checks in payment may be made payable to tn
rider of the Mutual Trust Company. Trustee, or to
he undersigned and should accompany the sub
scription.
Subscriptions will be received until
the 21st day of November, 1881,
at 3 O'Clock p. NJ,
and the allotments made on the following day.
Applications may be made to
THE MUTUAL TRUST COMPANY,
lis Broadway. New York,
or to
THOMAS j. HURLEY & co,
IS Wallst. New York,
Where maps, reports, and full information can be
obtained.