Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1890-09-05
ELKHORN MINE AND BRDROCK
FLUME-


extracts:
"On Aug. 17.h | received letter
from Mr.. Sawyer in response to my
inquiry regarding option upon large
block of stock, saying, that ia view
of the recent news from the mine Civ
en- you In note of yesterday, none of
the stock holders seem desirous of
parting with their holdings at the low
price of the option you now have
| On the 18th, in response to a tele-
gram, | received the following:
One thousand offered at two dollars
cash, to-day From these indica-
tions you will note that the tendency
OF Elkhorn is decidly upward in the
Boston mind. This tendency is, of
course, all the better for the New
York and during the life of the op-
ton, and / am rather pleased at the
confidence thus expressed by the
Bostonese.
Now in regard to the bedrock
fiume: AS the time is approaching
| when the wealth Of New York be-
gins to return, it seems proper that
we should take prompt and active
steps toward the organization of that
enterprise, and it is necessary, in or
der that | may act intelligently, to
have few queries answered.
First: Under what State law it is
most desirable to organize?
Second: AS to the name of the
company. Shall it be the "Bed Rock
Flume Company" or "Grimes Creek
Bed Rock Flume Company or some
other title to be suggested by you?
la the selection of the title it is, of
course, wise to avoid any great re-
| semblance to other companies now
existing.
Third: What do you deem to be
fair amount of capita lizat1on? This
question, of course, must be an
swered with view of such holding as
you and Mr.. Goldtrap desire to re-
tain; or, in other words, how much
cash and how much velvet.
Fourth: What amount shall be
set aside for treasury stock, making
the figure sufficient to be amply safe
IN the securement of necessary actual
working capital?
Fifth: What shall be the par val
ue of the shares?
Sixth: AT what percentage of par
value can the stock be offered to pur
chasers?
Seventh: What amount of money
is actually required to begin opera
tions?
Eighth: What percentage of the
whole could be offered on ground
floor proposition to a party who would
furnish the capital necessary to be-
gin work?
Ninth: What is your idea as to
my interest in the promotion? Is it
to come out of the stock owned by
you and Mr.. Goldsrap, or out of the
development of the treasury stock? {?
Tenth: By reference to the epin-
ion given by Colonel Staughan,
find that he estimates the property to
be "about eleven miles in length of
creek channel, and in width from
rim-rock to rim-rock some three hun
dred to eight hundred feet; this can
not be exhausted in half a century," :"
Is this correct as to the length and
width of the property, and is it
owned by you and your partner in
fee simple?
l, of course, have my own ideas as
to the manner and extent of this
promotion, but | have submitted sew
eral interrogations entirely free from
my suggestions, in order that your
own opinion may be entirely un-
biased. Send me, at your early con-
venience, such specimens as you can
spare, and give me as full informa-
ton as possible upon all points which
may he of interest.
| have written to Colonel Straugh-
an for information concerning Elk
horn, and will advise you on receipt
of his reply.
What do you think of my idea of
putting this matter before the public
in the light heretofore expressed in
my several letters to you-as man.
ufacturng enterprise? l notice the
title of Mr.. Waite's Company is "Ida-
ho Bed Rock Flume Company" there
fore, we want to select title which
will be sure not to confound the two
companies. / also notice that the