The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1881-11-17
THE MUTUAL TRUST co.
OF NETWORK.

lied under the laws of the State Of New York. with
capital of 81 0O0, 900 in A. 1000 shares ful-paid
and worcestershire The con- pany has acquired title
to the Great Republic, Spanish. Wolc IT, Rosa Com
stock and Vanderbilt mines, embracing more than a
Utah, about 226 miles southwest of Salt Lake City
The Spanish mine Is only 800 feet from the Horn
yer Ledge in many places show width of 80 feet Of
| vein matter. Concerning the Horn Silver Ledge
Professor j. s. Newberry, Of the Columbia School
OF Mines, and an authority in both this country and
| Europe, says: 'rhe Horn Silver Mine contains the
most valuable body Of silver ore known to exist in
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 Sl.100,000.
and the quarterly dividends amount to 100000.
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 indorsed by Professors Newberry
| and Clayton. Mr. @ UGH, in his report says:
Each Of these claims embraces part OF the vein
4 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.
! "The surface features or indications of the vein
traversng the several 81 inns ment10 ed, are in my
opinion, indicative of valuable property veiR Of
| ore az no great depth. / know of no vein in the
West that exhibits features SO favorable t. thu deve
opment OF great mine nor one with the same
| limited Developments that feel s. safe in recon
! mending to the public. Its far-fa ed neighbor the
| Horn 81 Yer, with the same openings was no COM
parison But at depth OF one h -ndred feet il had
All of the North Horn Silver workings consisting
of four tunnels and two shafts, nov in mineral
tine CoL e Tunnel being in heavy body of rich
Mr.. j. E. Bamberger the well-known merchant
OF salt Lake City, under date Of May 81, 1881,
writes concerning this property
II arrived here early this morning and visited the
mines OF the North Horn Silver Company. L found
the developments in moss satisfactory condition
and much beyond my sangune expectations. They
are now sinking shaft ON he Great Republic, and
prosecuting the vein Of the Wocott 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 100 TO 200 feet vile, and DO net think there
Ia announcer vein OF this extent in the country tell
you now that tn ese mines will be the biggest and
pest 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 al possible Speed and he Is the most
competent man in the country"
Inc following Is an extract from the report of the
Special Committee sent out by the Board of Direc-
tors In July last 70 examine the property: 1--WE
found in the Spanish Tunnel fac showing of low
grade galena ore. This tunnel has been driven
length of "a fetal in mineral the Republic the
tunnel has been driven SO feet with the expectation
shows width Of from so to $50 feet. They are
putting down shaft also on this mine which has
already reached depth Of 90 feet. In company
with Mr. J. I'm Foley, OF LeadvIlle, 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 a tunnel which is now in SO
feet, the wor kings also being in mineral The next
mine visited was the Wolcot', which to your
mlttees Gems the most promising claimof all, In
the upper tunnel of his mine which is now in 25
feer, they have struck mineral as saving moderatey
Dut the most important fact is it shows the contin
mty OF the immense vein running through this great
property. Several huntr feet below we found
the Cope Tunnel which is Ia 65 feet. This tun-
mel mas expose a vein of copper ore showing
width of from 20 to 25 feet yielding about 80 Der
cent In copper is proposed to run in As feet
Iurtner and then cross cut the vein. If get the
vein here as We have 1t elsewhere and only mod
crate grade OF ore, we will have of the largest
mines and most valuable properties the conti-
nent."
Since the foregoing report was written further
Developments have been made which warrant the
peiief that, with an outlay of less than 100000,
tne 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 (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, a 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.
1he FOLLOWING Is the FORM OF the guaranty of in
terest which is printed upon the face of the certif
Gates and signed by the proper officer of the Nut
aal Trust Company.
THE MUTUAL TRUST COMPANY
OF NETWORK.
Will for six years from date hereof pay fifteen cents
per share per annum, the shares repres ented by
his certificate payable semi-annually on January
LIST and July LIST.
New York. 1881.
Fifteen cents per share is equal TO Ito per cent
DER annum upon the subscription price.
Alotments win be made in full of amounts of
" 800 and under, and the remainder will be alot-
ID pro rata for amounts exceeding $4,000.
Checks in payment may be made payable to tn
rder of the Mutual Trust Company. Trustee or to
he undersigned, and should accompany the sub
cription.
Subscriptions will be received until
the 21st day of November. 1881.
at 8 O'Clock p. NJ,
nd the allotments made on the following day.
Applications may be made to
THE MUTUAL TRUST COMPANY.
115 Broadway New York.
rto
THOMAS j. HURLEY co,
1s Walls ST., New York,
where maps, reports, and full information can be