The Portland daily press., 1881-11-08

$1,000 Shares
Preferred, Registered, Treasury Stock
OF THE
North Horn Silver
MINING COMPANY
OF UTAH.
INTEREST AT Z PER CENT PER ANNUM
PAYABLE IN GOLD ON JANUARY AND
JULY 1, FOR SIX YEARS, GUARAN-
TEED AND PAYABLEBY
THE MUTUAL TRUST co.
OF NETWORK.

lied under the laws of the State of New York. with
and worcestershire. The company has acquired title
to the Great Republic, Spanish, Wolcott, Rosa Com
stock and vanderbilt mines more E Han
Utah, about 225 miles southwest OF Salt Lake City,
The Spanish mine ID only 500 feet from the Horn
yer Ledge in many places show width of 90 feet of
vein matter. Concerning the Horn Silver Ledge
Professor J. s. Newberry, Of the Columbia School
Europe, says: '"The Horn Silver Mine contains the
most valuable body Of silver ore known to exist in
Silver Mine stands to day as having greater
tanned value than any other silver mine known"
AS an indication of the richness of the ledge it
may be said that the Horn Silver produced in the
first nine months of this year nearly S1.100 600.
and the quarterly dividends amount to $500, 900.
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.. Ouch, 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 ore developed there
''The surface features or indications of the vein
traversing the several claims mentioned, are in my
opinion indicative of valuable property vein of
ore at no great depth. know of no vein in the
West that exhibits features favorable to the devel
opment of great mine. nor one with the same
limited developments that feel 80 safe in recon
mending to the public Its far-faued neighbor, the
parison But at depth OF one hundred feet 1t had
no rival"
All of the North Horn Silver workings consisting
of four tunnels and two shafts, now in mineral
the Cope Tunnel being in heavy body OF rich
copper ore
| of Salt Lake City, under date of May ~, 1881,
writes concerning this property:
II arrived here early this morning and visited the
mines of the North Horn Silver Company. found
the developments in most satisfac tory condition
| and much beyond my sanguine expectations: They
are now sinking shaft on the Great Republic ana
workings are in mineral corresponding with that OF
| the Horn Silver, and of q 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 as those of the Horn
Silver. The Great Republic and Wolcott veins are
from 100 to 200 feet wide, and do not think there
la another vein of this extent in the country tell
you now that tn mines will be the biggest and
| 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: "We
found in the Spanish Tunnel fine showing of low
| grade galena ore. This tunnel has been driven q
length of "a fetal in mineral In the Republic the
of cross-cutting 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
| already reached a depth of SO feet In company
| with Mr. lin Foley of Leadville, descended the
shaft and found ali the workings in solid body Of
| low-grade gelana ore, improving with depth and
| very promising. We next visited the Vanderbilt
mine, and there found tunnel, which is now in 81
feet, the workings also being in mineral The next
| mine visited was the Welcott which to your COM
| mittees GEMS the most promising claim Of all. In
| the upper tunnel OF his mine, which is now in 2E
feet, they have struck mineral assaying moderately
but the most important fact is it shows the contin-
uity of the immense vein running through this great
property. Several hundred feet below we found
the Cope Tunnel, which is now in CD feet This tun
1 nal oa a NJ
width of from 20 to 25 feet yielding about 30 pei
| cent in copper. 1t is proposed to run in 45 feet
further and then cut the vein. If we get the
vein here as we have it elsewhere, and only mod
crate grade of ore, will have one of the largest
| mines and most valuable properties ON the CONT
| nent."
| Since the foregoing report was written further
| developments have been made which warrant the
belief that, with an outlay Of less than $lOo. 600
| the company will be able to place the mines in
dividend paying condition within the coming year
| The entire amount of the treasury stock of the
company remaining unsold (91 900 shares) having
been purchased by syndicate, offer of the same
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 fol
| 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 certi
| 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-annualy on January
| LIST and July 1st
| New York ........18SI.
Fifteen cents per share is equal to Ito per cen
| per annum upon the subscription price.
| Allotments will be made in full of amounts o.
$500 and under, and the remainder will be aiot
| 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
scrption. Subscriptions will be received until the
| 10th day of November, 1881. at o'clock p. m.
and the allotments made on the following day.
Applications may be made to
| THE MUTUAL TRUST COMPANY,
115 Broadway. New York,
| or to
| THOMAS j. HURLEY g. CO,
Is Wall-st, New York,
Where maps, reports, and full information can bt
| obtained.
noy5 Sat Tu Tn & Sat