The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-04-24
Tho spratt Property to Be Trans
ferred to the English
Tomorrow. s
II. q. Wood Will Receive It and
Active Operations VIII Be-
Gin Immediately.
Kirht TIL Acres of Gold and Sap
phlro Bearing Ground Sold for I've
Million Dollars.

round to the sapphire II AuDy company
Of Montana has at last been aztec
A cable was received from london yestes-
day by +. d. Spratt. from his brother, A. N,
Spratt, telling him to place the deeds TIC
the English company on record. ana &c
turn the property over to A. b. Wood, gen.
cral manager of the company, and It's rep
Yesentatiye in Helena. This will be good
newa to the people of Helena in p~artioula.
and OF Montana in general. When Dlrec-
tors Mallaby-Deeley and streeter visited
Montana last winter, inspected the property
and returned to England and made u favor
able report, it was the general belief that
the deal would be closed in q few weeks.
But . number Of details remained to be set
tled, and time and again. just as the bus1-
ness was about to be closed. somsthlnR
came up and delayed the contamination.
About a month ago A. N. Spratt left Helena
for London, going straight to the worlds
metropolis without a stop. Later he was
joined there by J. +. Clayberg, who has
been the attorney for the Spratt brothers
during the negotiations. The results OF the
visit OF MIR. Spratt and his attorney were
shown in the cablegram received yesterday
announcing the contamination Of the deal.
The price agreed upon for the ground 10
e4O0, 900. or S2,O0O.O 900; one-half Of which is
to be in cash and the balance in fully paid
up shares. The company is stocked for
$3.50, 400, in shares OF 81 each. Two hun
dred and twenty-five thousand shares have
been taken, besides 400 founders shares.
The property which originally figured IN
the negotiations comprised about 4,NO
acres, but this is lust about one-half Of
what the contaminated deal includes. Ell
dorado bar, containing 1858 acres Of
patented land, the most thoroughly pros
pected Of all the gem land was the nucleus,
and to it has been added gem bearing
ground, making a total Of 5000 acres on
both sides OF the Missouri river. and OK
tending q distance Of twelve or fifteen
miles. In addition the company has
acquired BY lease or purchase all the water
rights in the district. including those Of
Beaver, Trail and Soap creeks, about :, 800
inches in all. For more than two years the
Spratt brothers have had all the land from
the Gate of the Mountains up the river,
q distance Of forty miles, pros
gem-bearing land. The result was that
when the time came for q consolidation of
all the gem-bearing ground. they were able
TO do il, and at the same time secured all
the water rights in the country. The money
received by the Spratt brothers will &c to
the purchase Of the lands and water rights
last secured. Among these are included
the Spokane bar properties Of ex-Gov.
Hauser. and also water rights in which he
was largely interested. There are other
Helena people who will receive direct mon
etary benefit from the recent purchases by
the spratt brothers. A number Of promi-
nent Helena people will become s%harehold-
ers in the company. While ell of the gem
bearing ground has not been purchased
outright, nor have all the water rights,
those which have not been bought have
been leased for a long term of years.
The plans of the company are nretty we'll
matured, and active operations will COM
menoe Immediately. A.. B. Wood. of De-
troit. the minent engineer, ia the general
manager of the company and has charge of
the work. All the water will be concen-
trated on Eldorado bar, where mining will
be carried on for the first year or so.
During the winter Engineer Sizer has
had a corps of surveyors in the field, pre-
p~aratory to the work of constructing
fumes. .
The success of the deal, while based on
the merits of the property, is due in great
part to the high standing Of the men who,
az founders, became sponsors for the com
pany. It is not very dlfficult to get men
with titles to act as officers and to taks a
prominent part in the organization OF Eng
lish companies; that is, if the promoters
look only to the title and not to the char
acter of the bearer. Butthe founders of the
Montana Sapphire company comprises some
OF the most prominent men in England,
and there is not one among the list bat who
represents something. OF the nobility
there are q number who are quite close to
the queen. The marquis of Lorne, the
queens son-in-law, is among them. Sir
Francis Knollys, the prince OF Wales'
business man. is another; the English am
bassador to St. Petersburg, Sir Robert
Morier, is another. Then. there is the Mar
quis of Breadlebane, deputy governor Of
tho Commercial bank Of Scotland, with a
capital of e5. 600, 600; tho duke of Portland.
the third richest man in England; and SO
the list goes. including, beside, such men
as Lord Chelmsford, duke of Leister, mar
quis Of TweedeEdale, Sir Robert Collins.
Lord Suftield, earl of Mayo. There are also
among the founders. twenty-six members
of the London stock exchange, embracing
representatives of the most prominent
firms. Then there are we'll known bankers.
prominent solicitors. wealthy merchants
and capitalists of all sorts. The iewelry
interests are represented by Edwin w.
btreeter and Horatio Stewart, members of
the two most extensive diamond firms in
England.
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