The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-06-18
NEW STATE MINING co.

A60010l0& 10 AAMIGAy NcpOFt0 - AS MOI
: Square Deal.
Parties interested in tho New State Min.
IN company, Of Orc Elmo district. have
bean east on ! wild car deal, and sue
osedsd in leecing l number OF unsuspect-
IND people, says the Silver State, Of Deer
Lodge. The fact became known here some
weeks ago whom Clerk and Recorder Bra
Eolton recaived q letter from q widow
woman, who had been duped. A response
~ telegram saved the woman So, 900, how
ever, - shs Vas Just about to sell her house
and pnt II Ill in stock. The Williamani .
4(Conn.) Times says:
Lodge county, Montana, there il an aper-
turs il the earth. partly filed with water.
that gave rise to . corporation calling itself
tho New State Mining company, with i cap-
ital stock on paper Of 100000 o Edward T.
Ferry. president, and Edward W. Young.
secretary. The latter is I nephew Of the
Rev. George Buck. pastor Of st. Paul's
Episcopal church. Of this city.
In May or june, 1892, Mr.. Young visited
hin uncle hero with some samples Of wire
silver ore, said to have been taken from the
aforesaid aperture, which were publicly
displayed and labeled. He also interested
the reverend gentleman TO the extent of
" BW08CkAOA8k " oAO VAkAb4A 0bOCAS ny tdhlAk
several shares At 81 each, the assured value
bsing S. each, and Of getting several OF his
friends in ION the ground floor on the
Same terms. The Inducements held forth
we're that the company was working q silver
mime Of remarkable richness, and before the
following January would begin to pay divi-
dsnd8 on the stock, Sstimated at from 100
70 800 per cont per annum. Under these
representations probably 5000 worth OF
stock was disposed Of in this vicinity. those
purchasing being chary. and looking upon it
- being 2 husinsss venture that involved
many risks.
Mi. Young returned west, and from time
70 TINA wrote encouraging letters to the
I0versd gentleman. speaking of the remark
abls output Of silver and gold ore from the
mine. but saying that owing to the cost of
transportation to the United States mint at
Butte City. mono but No.. l ore was shipped
and that il would be necessary to purchase
2 place on the grounds = crushing ma
chine ii ! cost OF $4,000 before the COM
pany could realize the full profit of their
work.
In December il was announced that the
first dividsnd would be paid, which was
done ct the rate Of 60 per cent on tho origi-
nal Investment. A like dividend was paid
IN January. February n March of this
year, since which time nothing direct has
been heard from the company.
a short time previous, and subsequent to
tho payment of the last dividend, Mr..
Young again visited his uncle and prevailed
upon him to place the stock upon this
market at 50 a share. the reverend gentle
man TO receive a liberal commission on his
sales. the purpose of tho sale of this now
apparently valuable stock being to purchase
the aforesaid crushing machine. The stand
ing OF the Rev. MI. Buck in the community,
and his confidence in the integrity of his
nephew, combined with the large dividends
then forthcoming, made the sales of the
posed that about $15,0 900 was taken in this
locality at the advanced price, one promi-
nent and unusually prudent attorney here
investing So. $50.
Ihs cessation OF the dividends and the
silence OF the company created a feeling of
u~neasiness among the stockholders, and one
Of our bankers wrote several inquiries to
Montana about the standing of the corpo-
stion He has just received two answers,
one from the county clerk Of Deer Lodge
county. which Saws that the New State Min
Ing company has made no report to that
Office. but makes a personal report hat it ia
IN. Ct" absolutely, and that the writer will
furnish the stock at one cent q share, post
age paid.
The other letter. from Fl. s. Reed, with
Larabie Bros. d Co., Deer Lodge county.
says that he understands the works have
been abandoned. the pumps pulled out and
the mine allowed to fill with water. He
also says that he is positive that western
stockholders never received any dividends,
ana II eastern ones have it was for the pur-
pose OF floating the stock. He adds that
such action would land the promoters in
state prison in that state" but that, o.
course, does not refund the money.