The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1881-11-12
THE MUTUAL TRUST co.
OF NEW-YORK.

The North Horn Silver Mining Company orga
lied under the laws of the State Of New York, with
capital of 81 600 600 in 900 shares, full paid
and non-assessable The company has acquired title
to the Great Republic, Spanish Wolc tt, Rosa, Com
stock and Vanderbilt nines, embracing more than a
mile of the nous Horn Silver Ledge, near Frisco,
Utah. about 226 miles southwest of Salt Lake City.
Lhe Spanish mine ls only 1.500 feet from the Horn
Silver Mine, and the groupings of the North Horn Sill
yer Ledge in many places show width of 30 feet of
vein matter. Concerning the Horn Silver Ledge
Professor j. S. Newberry, of the Columbia School
Europe. says: si1he Horn Silver Mine contains the
most valuable body of silver ore known to exist in
any mine in the world" And again. sThe Horn
Silver Mine stands to day as having greater
tanned vslueth 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 S1.100,000.
and the quarter y dividends amount to 100000.
The properties owned by the North Horu Silver
Company have been reported by Thomas
Couch. formerly superintendent of the Horn Silver,
and his report is Endorsed by Professors Newberry
and Clayton Mr. c uch, 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 a.gentiferous lead ore developed there
1.-THE surface features or indications of the vein
trayersing the several cl inns mentio ed are, in my
opinion, indicative of valuable property vein of
ore at no great depth. know of no vein in the
thet exhibits features so favorable to the deve
opBent Of great mine nor one with the same
limited developments that feel 50 safe in recon-
mendng to the public. Its tartar ed neighbor, the
Horn 81 yer, with the same openings, was no COM
parson. But at depth of one handred feet 1t had
All of the North Horn Silver workings consisting
of four tunnels and two shafts, are now in mineral
the Co, e Tunnel being in a heavy body OF rich
Mr. j. E. Bamberger the well-known merchant
of Salt Lake City, under date of May II, 1881,
writes concerning this property:
~ arrived here early this morning and visited the
mines of the North Horn Silver Company. 1 found
IA .fa y,.ln
and much beyond my sangune expectations. They
are now sinsii a shaft on The Great Republic, and
prosecuting the vein of the Wocott. Both of these
workings in mineral corresponding with that of
the Horn Silver, and of much more promising
same amount of work. Furthermore the groupings
of these mines the same as those of the Horn
Silver. The Great Republic and Wolcott veins are
from SO to 200 feet vile, and do not think there
ia another 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.
Every one 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 an extract from the report of the
Special Committee sent out by the Board of Direc-
tors In july last TO examine the property: I'VE
found in the Spanish Tunnel a fine showing OF low
grade galena ore. This tunnel has been driven a
length of 81 feetal in mineral. In the Republic the
tunnel has been driven SO feet with the expectation
of prosecuting the vein, which, by the groupings
shows width Of from 30 to 150 feet. They are
putting down shaft also on this mine, which has
with Mr. Tim Foley, OF Leadvlle, we descended the
shaft and found all 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 38
feet, the woi kings also being in mineral The next
mine visit ed was the Wolcot, which to your COM
mi tees Gems the most promising claim of all. In
the upper tunnel or his mine, which is now in 20
feef they have struck mineral asSaying moderately
but the important fact is, it shows the contn-
uty of the immense vein running through this great
property. Several hun ired feet below we found
the Cope Tunnel which is now in 90 feet This tun-
mel has exposet vein of copper ore showing a
width of from 20 to % feet, yielding about 80 per
cent in copper. 1t is proposed to run in 40 feet
further and then cross the vein. If get the
vein here as we have it elsewhere, and only mod
grade of ore will have one of the largest
mines and most valuable properties on the conti-
nent."
Since the foregoing report was written further
developments have been made which warrant the
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 (9l, 900 shares) having
been purchased by a 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.
viii for six years from date hereof pay fifteen cents
per share per annum, the shares Represent by
this certificate, payable semi-annually on January
LIST and July LIST.
Now YORK.. .loots
Fifteen cents per share is equal to LILO per cent
per annum upon the subscription price.
Allotments will BIS made in full of amounts of
$1,000 and under, and the remainder will be alots
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
scription Subscriptions will be received until the
2ist day of November, 1881. at 3 O'Clock p. M,
and the allotments made on the GLOWING day.
Applications may be made to
THE MUTUAL TRUST COMPANY,
115 Broadway, New York,
or to
THOMAS j. HURLEY & co,
IS Wall ST., New Y ork,
Where maps, reports and full information can. be
obtained.
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