Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-02-10
METHODIST MINING.
The Headlights OF the Church Leading
the Lambs OF their Flocks into Blk.
by's "IsabelIa" Swindle,
Ard All For the Sake OF the East Ten.
nessee University-Aid Given 1t by
the Official Church Organ.


under the mining laws of California, and
had a nominal capital of $40, 900, divided
into 100000 shares of 500 each. The
owners were San Francisco capitalists
(smong them Col. II. G. Bixby), who, it il
claimed, worked the mines long enough 10
become satisfied OF their worthlessuess ard
then let them drop. Early in the summer
Of 1873 the Rev. John F. spence, DID,, presi-
dent Of the East Tennessee Wesleyan Uni
versity, situated at Athena, Tenn, and Prof.
L. E. Caldwell, a chemist and miueralogist,
holding chair in the same institution,
brought Col. Bixby to the study Of the Rev. DR..
Newman, the pastor of the Seventh Avenue
Methodist church, in this city. Col. BIxby
was introduced as Californian of wealth,
the owner of large mining property. Being
unmarried and having no family, DIR. Spence
said, Col. Bixby wac DESTROYS OF devoting
some part OF his means 10 philanthropic
works, and had decided TO epdow the Meth
odist Episcopal University at Athens with a
gift of 100000 or 1890, 900 worth of mining
shares. DR.. Spence, Prof. Caldwell and Col.
Bixby had already consulted with Bishop
Simpson, and he had referred them to DR..
Newman as the better 6nancier, with prom
Uses TO abide by the latter's decision. The
bishop was declared To be favorably i'm
pressed with the proposition. DR.. Newman
asked Col. Bixby if he had received his
patents at Washington, and the latter gen.
tleman replied that he had not completed
the transactions with the government. Col.
Bi1by admitted that there were some in
cumbrances on the property, and he wanted
TO raise $4,000 to put the mine in working
order, purchase mill, etc. Prof. Caldwell
had spent some time at the mine and he was
extrayagant in his praises. He expressed
his belief, DR.. Newman says, that it was
the best property in Arizona. DIR. Spence
backed Prof. CaldwelPs opinion enthusiasts
cally. The stock wac to be placed on the m ar
ket at $40 share, but it was decided TO give
the first corners the benefit Of the ground
hoor"-that is 10 say, S. share instead Of $40
would be the ground floor price 20 the first
corners. 1t had long been an expressed pur-
pose of DR.. Newman, he says, TO give por-
ton of his fortune to the cause OF education,
and he thought this an excellent opportunity
TO carry out his intention. So he invested
$1,000 in the Isabella Mining and Milling
Company, and Bishop Simpson followed with
a subscription of 5000.
ENDORSED BY THE OFFICIAL ORGAN.
The Christian Advocate is the official organ
of the Methodist Episcopal Church. The Rev.
c. II. Fowler, DID, LID, was at that time
and hac been for many years editor of that
paper, and the Rev. w. Fl. De Puy, DID,, as
sistsni editor. Both of these gentlemen were
Induced to take stock. July 10Th the follow
ing editorial appeared in the Christian Id
Uocdte.
A NOBLE DEED.
EAST Tennessee Wesleyan University
has found munifcent friend. Col. 81. G..
Bixby, of California, has given the univer-
sity large interest in a consolidation of
eight very rich silver mines near Globe City,
A. n 4
yond the point OF contingency concerning
their almost unpreeedented wealth in rich,
accessible, free milling silver ore. The result
OF milling few tons airesdy shipped, and OF
assaying by several experienced assayists,
places the mines second 10 but few, if any,
on the continent. Shafts have been sunk and
drifts run, and large quantities or ore, worth
from 5000 10 $4,000 per ton, have been mined.
Mills have been erected near the mines aud
are nearly ready for use. The mills will be
paying monthly dividends by next Novem-
Der. The university has had one OF its pro-
fessors-Prof. l.. B. Caldwell, a practical
assayist-in the mines for several months
testing the quality and quantity OF the ore.
The authorities are more than satisfied with
the results. Col. Bixby, whose name, char
acter and ability are OF the highest order
among the miners OF California and Nevada,
hoo 6AfSh buC AZ adultiOu ~ lAc
endowment (which will be ample
amounting, to hundreds OF thousand Of
dollars) come stock with which the
trustees can meet their shares OF
the cost OF completing the mills
and of starting the works. Bishop Simpson,
DIR. Newman and other friends of the univer-
sity have done good thing for the university
in purchasing some of the stock; and, we
doub; not, have also done better thing for
themselves. Concerning this additional
stock DR.. Spence, the energetic and devoted
president OF the East Tennessee Wesleyan
University, makes an interesting business
announcement on another page. We con-
graduate East Tennessee Wesleyan Univer-
sity, soon 10 be named Bixby University-an
honor, however, which Col. Bixby declined
to accept before the trustees have actually
received their bullion We know several
other schools for which we crave an equally
valuable friend"
In the same number, and also in the three
succeeding numbers, appears the following
"busiress announcement in the advertising
columns: ss
TEN THOUSAND DOLLARS WANTED IMMEDI-
ATELY
by the trustees Of the East Tennss.ee Wes-
leyan University in exchange for 1000 shares
OF stock in one OF the richest and most de-
sirabe silver mines in the world. The stock
is believed, after thorough Investigation by
dIsinterested experts and the most careful
judges, 10 be worth more than double the
amount asked for it; but limited quantity
is placed on the market at this low rate (Sl0
per share, par value 100000 for the purpose
OF raising funds TO pay for an exceedingly
valuable mill, to be used at once in reducing
The ore, more than 500 tons OF which have
IL L. IL
ready for the mills. Dividends on the
amount of at least fre per cent. are expected by
November LIST and five per cent. monthly there
after. Those desiring TO aid the university
an al the same time make safe and quick
paying investment, should make immediate
application to the undersigned, at No. sos
Broadway, New York.
JOHN F. SPENCE.
President East Tennessee Wesleyan University
The building No. SO5 Broadway is the
headquarters of the Methodist publishing
interests-the Book Concern, Advocate, ETC.
The result of Prof. Caldwell's Investigations
in the course of his several months experts
euce at the mines was related by him in an
open letter, which was printed and distrib-
uted through cburchly channels. 1t YVES
also published in the Christian Advocate
issue of August 22d, which was as follows:
THE ENDOWMENT OF EAST TENNESSEE IVES.
LEYAN UNIvERsITY-A NOTE FROM PROF.
CALDWELL.
In answer 10 many inquiries concern
ing the mining property of Arizona
known as the Isabella Mill and Mining
Company" in which Eastern Tennessee Wes-
leyan University has an interest, let me say:
Last April l made very careful personal
examination of that property. The property
consists of eight mining claims, embracing
about 140 acres. One very large mining
lode runs through northeast and southwest)
the entire property, distance of about 1000
feet; one very rich parallel lode shows it.
self for part OF the distance on the proper
ty. These are evidently 6ssure veins. The
general formation is granite. There are two
large bodies OF very rich ore. These shafts
are at either end, and one in the middle of
this property with several cross-cuts shows
beyond question the continuation of this
main lode. And from the bottom OF the
deepest shaft to tb, highest point Of the ore
on the surface above depth of ore is ex-
posed of not less than 400 feet The 600
tons already mined and that which is ex-
posed are free mining ore known as chloride
ore. The assays with which my name is
connected in the report Of the property /
knog to be correct By correct, mean they
are ,Cithin The limit Of fact. Indeed, 1 am free
to say that the average, as given in the re-
port, may safely be increased one-third.
There can be no question of the success of
this enterprise unless it shall arise from the
future management. On this latter point
will simply say that the East Ten
nessee Wesleyan University will have
three Of the five directors in the company;
and as Col. Bixby, the generous patron of
the university, and the immediate friends of
the university will own eight-tenths OF the
stock OF the company, can see no reason
why dividends may not be declared in No
vember next. unless there occur some break
in the line Of transportation to the mines, by
which part Of the machinery now under
way might be delayed for a few days. After
careful examination at the principal mines,