Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-02-09
sWINDLED.
4 Mine that Did Not Prove q Bon.
an1a.
How Some Of the Leading Lights in ths
Methodist Episcopal Church Were
Taken IN On Sailed Silver /.
Nine.
sAsrlLA INNING STOCK CHEAP.

xyr YoRK. February s-The Herald de.
vote, three columns 10 the history Of the
Isabella Silver Mining Com. .any, into
which IL is stat..d, large number Of lead.
ing MeyAoJists la New York and elsewhere
were drawn, and iu which large amount
o; money has been sunk. The company
vas incorporated . number OF yesrs $50
ander the mining Laws Of California and
had nominal capitai Of ti0seo,ooO. Tbs
owners were San Francisco capitalists,
among them Col. II. @. B.by who, II 10
claimed, worked the mines long enough "
become satisfied Of their worthlessness.
Rev. John r. Spence. President OF the East
Tern,t Wesleyan University. at
Athens, was made to believe, however, that
there were millions In the mines, and Prof.
Caldwell, chemist and miusraloyist In the
Wesleyan University, vas sent out 10 ex.
anime tAem, and reported t.Sai they were
even ricne- in ore than they had been
represented. In the summer u 1878 DE-.
Spence and Professor Caldwell called on
Rev. DR.. Newman, pastor OF the Seventh
Avenue Methodist Church In New York,
and introduced Colonel Bixby, who DIR.
Spence said had decided 10 endow the
MethsSsias Episcopal Uatvesstty
,S Athens with giit Of 500 900. or $500
coo of mining stock. Col. Bixby admitted
there were some incumbrances On the
property, but hs wanted 10 raise sso0O TO
put the mine in working order. DR. New.
man was 80 favorsbly impressed that he in.
vested HOO Ia the stock, and Bishop
Simpson followed with 500. Soon after.
ward the Christian Advocate, the oioiAl
organ of the church, edited by Rev &. II.
Fowler and Rev. W. II. DE Puy, who after.
wards invested intbe stock OF the company.
referred editorially 10 Col. Bixby's munii-
cence and indorsed the mining enterprise
in strong terms The Wesleyan University
put a thousand shares OF its stock On the
market, letting early subscribers ION the
ground ioor' at 81 q share. the par value
being placed at $40. Prof Caldwell also
published In the christian Advocate the
result OF his iny' stiyat,ons, expressing tho
opinion that the Isabella mines were among
the most valuable In Arizona. Dividends
OF five per cent. q month were expected,
and the stock
went oG Ilke Ho, Cakes.
and Methodist ministers as we'll as 'aym.n
invested largely. Col. Bixby. who Is nov
said to he in Spain. opened an ONCE at the
Aster House, in New York, and prddled
out the stock from ten dollars down 10 ff,y
cents q share. The stockholders waited
patiently for q wear and then began 20 open
their eyes stli there wee encouraging
reports, and the Alice mine, adjoining the
Isabella. was purchased. Last March even
the pretense Of working the lsabellA was
abandoned. though IL Is hoped ,hc Alice
mine will still prove good property. The
Isabella mine 10 IL stated, would have been
dear at 500, while the ore Is said 10 he
like that used by tho Pennsylvania rsilroad
TO ballast its tracks. II is thought u hsd
been well sslted prior to Prof. Ca!dwelrs
visit. The East Tennessee University.
which had intended 10 change Its name 10
the Bixby University, as a compliment 10
the generosity Of the California million
oire, has rsItivred It's determination.
aud will retain It's present name. No
blame is ascribed % DIR. Spence or Prof.
Caldwell, who are thought 20 have been
simply the cstspav ~ very clever spccu.
la,or Large numbers OF Meihodist1, IL IL
stated. would he pleased 10 dispose Of
Isabella mining SHARES at very low figures.