Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-04
An English Syndicate Has Secured
Extensive Mines in That State,
and 1t Proposes to
MANUFACTURE TIE PLATE THERE
II That Feature Of the Tariff Bill Sue
ceeds in Getting Through Con.
gress as 1t Now Stands.
ALL COMPETITION CAN BE DEFIED,
According to the Estimates Of Those Interested in
The Scheme

ESPECIAL TELEGRAM TO THE pIsPATCH.1
NEW YORK, August S-The following
reports have been received from the leading
mining centers Of the West:
SAN FRANCIsco-The Iron Mountain
mine in Shasta county was abandoned some
years ago by company that went broke
trying to develop 1t. Recently it was re-
opened and last months clean up amounted
to S24, 900. Improved methods of mining
and milling have made the difference be-
tween profit and loss. With some further
improvement in processes, 5000, 900 tons of
suriferous iron pyrites in the Meadow
Lake district will be worth working.
The Dromedary quartz mine on
Wolf creek. Nevada county, is another
Of the old claims abandoned years ago. In
1867 it produced some rich ore, but il has
not been worked for long time New own
ers are reopening the mine on q business
basis. The Silverado mine on Mount Saint
Helena, the home of the "SIlverado Squat
ter" has been idle for some years, but is
now being worked again at a profit. The
PaliSade mine, on the same mountain, is
running 2o-stamp mill and making
money. A gold nugget worth S312 was re-
Gently taken from a pocket claim in Shasta
that has yielded over S., 900.
An English syndicate called the San
Jacinto Estate, limited, has bought the old
San Jacinto tin mine and 80, 900 acres o.:
land in San Bernsrdino county. and it is
asserted that the company will put up q
plant at a cost of $3.50, 900, open up the
Kill
town on a big scale. There are over so tin.
bearing veins on the property, and the ore
is said to contain 10 per cent of tin, which is
wonderfully rich, the best ores of Cornwall
running only 2 4-10 per cent The prop
erty was in litigation for % years,
and the title was not settled until
1885, In the directorate of the syndicate
appears the names of Lieutenant General
Sir John Stokes. j. r. Frances, of Swan
sea, and n. j. West, of Cornwall. The
purchase price of the property was S400, 900,
and the capital of the company is fixed at
g, ,525, 900. There are 300, 600 shares of
stock, which is unloaded on the general
public at IS share. Debentures will be
issued ct per cent to the amount of $685.
600, payable in five years. II the duty on tin
plates should be doubled as the iron men are
urging in Congress, the syndicate would 60
into the manufacture of plates, which can
be made here at two shillings per box less
than the cost of imported plates, and have
margin of 81 40 q box in freight and duty.
All these figures of prospective profits are
based upon the assumption that the mines
are as represented, concerning which there
is some doubt For the last Is wears the
owners have been trying to unload the
property on somebody. At one time bounty
was offered by the Government for the dis
covery of tin ore, and the San Jacinto
people tried to get it but the Government
experts sent to examine the mine reported
adversely which seems somewhat singular
if the ore carries 10 per cent tin. A vein of
goldbearing quartz discovered seven years
ago at Josephine, Ore. has produced
S25, 900 in bullion to date with only two men
employed in extracting ore. Nearly IS, 900
in gold was taken from q space of 240 feet
square in the Nelson placer mines near
Baker City, Ore.