Morning journal and courier., 1881-11-17
THE MUTUAL TRUST co.
 OF NEW YORK.

The North Horn Silver Mining Co pany is organ ized der the laws of the State of New York, with capital of $4 900 in 900 shares, full paid -assessable. The com any has acquired title to tud anderbilt mines, bracing more than mile of the famous dorn silver Ledge, Frisco Utah, tbout 225 miles southwest of Salt Lake City The panish mine is 50O feet from the Horn Silver line, ana the croppings of the North Horn Silver Ledge in many places show width of 150 feet of lessor J. E. Newberry, of the Columbia School of ines and autho ity in both thi- country and Eu- uost valuable body of silver known to exist in my mine in the world.' And again 'The Horn Ganed value than any other silver mine known" As indication of the richness of the ledge it may be months of this year nearly T, 0,000 and the quar- 5erly dividends amount to $300,000
 The proper ies owned by the North Horn Silver 'ompany have been reported on bs Thomas Couch, formerly superintendent of the Horn Silver, and his report is indo sed by Professors Newberry and Clay on. Mir. Couch, iL his report, says
 Each of these cl iIns en braces part of the vein .ppied to he vein from the first location made upon and becanse Of the immense unparalleled body of Irgentiferous lead ore developed therein 1.-The surface features Indications the vein traversing the several claims mentioned are, in my opinion indicative of valuable property or vein of ,re at no great depth know of no vein in the Vest that exhibits features flaw rabe to the dwell i ed developments that feel so safe in recommend ing to the .blic. ts far-famed neiEhbor the 5orn ,ilver, with the same openings, was no comparison But at a depth of hundred feet il had rival" All of the North Horn Si yer workings consisting of four tu nels and two shafts are in mineral the Cope Tunnel being in heavy body of rich cop MT J. E. Bamberger. th4 well known merchant of Salt Lake City, under date of May 1884, writes con- cerning this property:
 q arrived here early this morning and visited the mines of the North II ,,rn Silver Company. l found he developments in a most satisfactory condition, 4nd much beyond my sanguine expecta' ions. They are now sinking shaft on 4he Great Republic, and cross-cuting the vein of the Wolrot Both of these workings are in m neral correspondi with that of the Horn Silver and of muth more promising .ba cta ha Silver had with th6 same amount of work. Furthermore the croppings of thess mines are me same as those or the Horn sl 5O to POO feet de- an do not think there is aboth er vein of extent in the country" tell you hat these mines will be the biggest and best opened, and fully equal to the Horn Silver. Every one who has seen these min confirms my opinion Superintendent Couch is pushing the work with all possible speed and he Is the most competent man in the country"
 special Committee sent out by the Board of Direct in July last to examine the property ''We found in the Spanish Tunnel fine showing of low-grade galena This tunnel has been driven lel gth of 4 feet-all in mineral. In the Republc the tunnel been driven 56 feet with the expectation of utting the vein, which, by the croppings, shows a width of from 50 to 15O feet They putting down shaft also on this mins which has already reached a depth of 50 feet In pany with MT. Tim Foley. of LeadviIe, descended the sh it and found all imnrovne in1 with depth and very Uroising We next visited the Vanderbilt mine, and there found un- nel which is now in 38 feet, tn workings also being in min ra1 The next mine visited was the Wolcott, which to your committee seems the most promising claim Of alL In the upper Cunnel O1 m1ueWnlcn in 25 feet they have struck mineral assaying moderately but the most impo tant fact is it shows this great property. Several hundred feet below found the Cope Tunnel, which is now in 65 feet. width of from 2Oto 25 feet yield 'ng about sO per cent. in copper. It is proposed to run in 45 feet vein here as have 1t elsewhere, and only moder ate grade of ore, will have one of the largest mines and most valuable properties on the contt- nent "
 Since the foregoing report was written further de- velopments have been made which warrant the belief ny will be able to place the mines in dividend ing condition within the coming year
 The entire amount of the treasury stock of the company remainiI unsold (91,0oO shares) having been purchased by syndicate, offer of the same is made for subscription by the undersigned at $2. 10 per share.
 By special contract between the Syndicate and the Mutual Trust Company, fund sufficient for the pur pose been deposited with the Trust Co mpany to the interest the preferred stock for period Interest will be adjusted to commence on date of subscription.
 The following the form of the guaranty of inter est which is printed upon the face of the certificates and signed by the proper officer of the Mutual Trust Company:
 OF NEW YORK
 VIII for six years from date hereof pay fifteen cents ,,er share ner annum on the shares represented by this certificate; payable semannually on January 1st and July 1st. ,
 New York. .lSSl.
 Fifteen cents per sbare is equal to 1-1o cent
 
 AIIotnents will b. made in full of amounts of $2,- 500 a1 under and remainder will be allotted pro rata for amounts exceeding S2, 300.
 Checks in payment may be made payable to the or der of the Mutual Trust Company Trustee, or to the undersigned and should accompany the subscription Subscriptions will be received until the tn day of November. 1881. at o'clock p. m, and the allotment made on the following day.
 Applications may be made to
 THE MUTUAL TRUST COMPANY,
 115 Broadway, New York.
 
 THOMAS J. HURLEY & Co.,,
 IS Wall street. New York. Where maps reports and full information can be ob- tained n5 4d2w