The Portland daily press., 1881-11-10
THE MUTUAL TRUST co.
OF NETWORK.

Inc North Horn Silver Mining Company Is organ
lied under the laws of the State OF New York, with
a capital of s. 00O 600 in 400 600 shares, fu1l-paid
and n-assessable The company has acquired title
to the Great Republic, Spanish Wolcott Rosa, Com
stock and Vanderbilt Mines embracing more than
mile OF the famous Horn Silver Ledge, Frisco,
Utah. about 225 miles southwest of Salt Lake City.
The Spanish mine Is only 500 feet from the Horn
Silver Mine and the groupings of the North Horn Sill
yer Ledge in many places show width of so feet of
Esi1 matter Concerning the Horn Silver Ledge
Of Mines and an authority in both this country and
Europe, says: "The Horn Silver Mine contains the
any mine in the world: And again: seThe Horn
Silver Mine stands to day as having greater ascer
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 $1.1O00OO.
and the quarterly dividends amount to S300, 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. Couch, in his report says
Each of these claims embraces part Of the vein
applied to the vein from the first location made
upon it, and because of the immense unparalleled
body Of argentifsrous lead ore developed there
"The surface features or indications of the vein
traversing the several claims mention ed are in my
opinion, indicative Of valuable property vein of
ore at no great depth. I know of vein in the
West that exhibits features favorable to the deve
opment Of great mine. nor one with the same
limited Developments that I feel SO safe in recon
mendng to the public. Its far-faTed neighbor the
Horn Silver, with the same openings, was no COM
parson. But at depth Of one hundred feet 1t had
All of the North Horn Silver workings consisting
Of four tunnels and two shafts are now in mineral
the Cope Tunnel being in heavy body OF rich
Mr.. j. E. Bamberger, the well-known merchant
of Salt Lake City, under date of May ~, 1881,
writes concerning this property:
81 arrived here early this morning and visited the
mines of the North Horn Silver Company. found
the developments in most satisfact tory condition
m my a axr i0na
are now sinking shaft on the Great Republic, and
prosecuting the vein of the Wocott. Both of these
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 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 hese mines will be the biggest and
best ever opened and fully equal to the Horn Silver
Everyone who has seen these mines nfirms 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 Direc-
tors in July last to examine the property: 1--WE
found in the Spanish Tunnel fine showing of low
length of "a fetal In mineral In the Republic the
tunnel has been driven SO feet with the expectation
Of sr0scHtng 9, the r vein which By the sSOppng
putting down a. shaft also on this mine, which has
already reached depth of SO feet. In company
Win mI LIN EOley, OF LeauVtll6 We u6SCeuu0u Tue
shaft and found ali the workings in a solid body of
low-grade geana ore, improving with depth and
very promising. We next visited the Vanderbilt
mine, and there found tunnel, which is now in 3S
feet the workings also being in mineral. The next
mine visited was the Wolcott, which to your COM
the upper tunnel Of his mine. Which is now in IS
feet they have struck mineral assayng moderately;
but the most important fact is it shows the contin
property. Several hundred feet below we found
the Cope Tunnel, which is now in 65 feet. This tun-
mel has s. 81 YEN Of ore shosng
cent in copper. 1t is proposed to run in 40 feet
further and then cross cut the vein. If get the
crate grade of ore we will have one of the largest
mines and most valuable properties on the conti-
nent
developments have been made which warrant the
belief that, with outlay of less than 100000,
the company will be able to place the mines in a
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, an etfer of the
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 cert
Gates and signed by the proper officer of the Nut
ual Trust Company.
THE MUTUAL TRUST COMPANY
OF NETWORK.
VIII 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 LIST.
New York, .........18S1. AH&@s
Fifteen cents per share is equal to lilo per cent
per annum upon the subscription price.
Allotments will be made in full of amounts of
$4,000 and under, and the remainder will be allot
ed pro rata for amounts exceeding $4,000.
Checks in payment may be made payable to tn
Order of the Mutual Trust Company Trustee, or to
the undersigned, and should accompany the sub
scripton. Subscriptions will be received until the
goth day Of November, 1881. at 8 O'Clock p. M,
and the allotments made on the following day.
Applications may be m ade to
THE MUTUAL TRUST COMPANY,
115 Broadway. New York,
or to
THOMAS j. HURLEY g. CO, A
Ii Wallst., New ork,
Where maps, reports, and full information can be
obtained.