The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1886-09-11
RONDE:s, 3lHNES.


The bonding of mines in Cali
fornia and the Pacific coast ha.
become so frequent that review
of the situation may be of interes
to our mining readers, as well az
Intending purchasers.
The hardy prospector, who, as
he judges from experience, has
found "good prospect" seldom
has the means to make more thar
a superficial development of the
same, and. unless "pay ore" is
reached in a few weeks, it not in
frequently happens that that is the
last Of the "mine.'
More frequently the shallow
shaft, made by the prospector and
his "pard," or the "open cut, F"
shows encouraging sign" but not
enough to warrant putting up the
simplest machinery for reduction.
At this point the mining man"
with more means, or backed posi-
bly, by some financial "mine owner
at "the bay" or elsewhere, comes
to the front, and after examination
makes a proposition to "bond F"
the mine, as it is called that is,
an agreement is entered into be-
tween the parties to furnish money
to make certain developments for a
certain length of time, with the
privilege of purchasing part, or
the whole, at any time during the
bond.
The style and conditions of the
bond are such that it frequently
happens that very small omission
cuts off an otherwise advantageous
bargain to an intending purchaser,
after expanding hundreds, or it may
be thousands, of dollars in pros
pecting.
A case in point came within our
own experience. "A mine in Cali
fornia was bonded for $4,000. Work
was done on it freely, with the ex-
pectation of owning it at the end
of the bond. Notice was given to
the owner that at a certain day,
the last but one of the bond, as it
happened, the price would be paid
over and he wished the deed ready.
All in good time the deed was
ready, and the purchaser, with evil
dent satisfaction, handed a hand |
somely Autographed draft on San
Francisco in payment; but the
owner did not see it." The bond |
was for "gold coin" and if the |
gold coin was forthcoming before
the bond run out, the deed was
ready, and he would wait until
then. AS it. was an important
thing to do, and as no persuasion
or threats could avail, the mine
and its improvements came back
into the hands of the sharp owner.
Now, as the country is overrun
by quartz sharps" and a few bona
fide purchasers, and as many of
our old prospectors would bond
their mines to an intending
purchaser if they were sure they
would not be swindled out of them,
we have at some pains obtained
from a reliable source a pro forma
bond, which can be varied to suit
circumstances, as follows:
This agreement, made and entered into
this = day of -, Is, by and between
-, of the town of -, county of - and
State of =, known herein, as the first
party, and -. of, etc, -. known herein
as the second party COR parties, Witness
eth, that the first party is the owner by
proper location, recording and the nccessa-
rs work thereon in accordance with the
laws Of this mining district and of the [
United States of America, of that quartz ,
ledge or lode known as the - there des-
rribe the location in detail and that the !
same is free from any debt, lien, or claim
and whereas the second party is DESTROYS
Of developing the same with a view To pur-
chase: Now this agreement witnesseth ,
hat the first party agrees To bond the said .
mine to the second party for the period of
- months from this date for the sum of
- dollars. gold coin of the United States l
On the following conditions (here insert the
conditions as 10 the work TO be done or {
lther details }; and il is hereby agreed that ,
it any time during the life Of this bond the ..
second party may demand, and the first !
party shall make, a good and sufficient bar 7
rain and sale deed for said mine, duly
igned. sealed and acknowledged, and shall .
,e delivered on the payment of the pur-
hase price, the other conditions of this 4
,ond having been previously complied
WITH free from any debt lien, or claim
hereon. 1t is understood that the purchase
money may be paid in gold coin, or by GER :
flied check, certificate of deposit, or draft [
or gold coin on any solvent bank in -; J.
ut If paid by a certified check, certificate, !.
r draft, then the deed shall be held in es- I
row by -, agent for Wells, Fargo 4 Co. \
I -(or other person agreed upon, UNI
II IN due course the check, certificate OF U
eposit or draft shall have been paid, when S
he when the deed may be delivered by ;,
5 agent of the first party, to the second I
arty hereto. Should the second party tail a
all in any conditions of this bond, then, r
pom demand of the first party, the second =
arty shall surrender quiet and peaceable L
Of the mine and appurtenances, G
zee from all liens. debts or claims ~
1t is understood and agreed that the l
lords . first party and . second party" "
used herein, shall include and bind the :.
sSigns and legal representatives Of the 7"
.spective parties hereto. I,
Witness our hands and seals. at -, the q
ay and year first above written. :,
Signed in duplicate. SEAL 4
This should be witnessed and a
cknowledged before notary pub il
C, or a justice of the peace, and "
ecorded in the County Recorders fl
flee. When this is done, bond, d
lfe and solrnd for the owpor onI ~