Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1895-02-08
HISTORY OF TIE BIG DEAL.
=. A. otarreil Has Been Wd rking 1t rr
for Several Months

- n. ~ tarreil has seen W OTking 1t Tn
for Several Months
Both $. S. Glidden and l.. c. Dillman
refused either to deny or G bnfirm this
Information. but 1t is kno wn beyond
question that a similar cabIegram has
been received here from F. Al. O'Farrell
Mr.. OFarrell, in connection with L.
c. Dillman, has been working on the
project for nearly two ye, IRIS during
which time he has made "A number of
trips to London He is there now. where
he went with options on four big Can
yon creek properties-the Pdorman. the
Tiger the Gem and the Frisco The
original plan was to consolidate all of
these in one big company and work
them under a general system, but it Is
understood the English company con-
sidered the price asked for the Gem and
the Frisco too high and dismissed them
from their calculations.
Last fall the London company sent
out two experts with Mr. O'FarreIl
They We're p. Coulson Blu nm. NJ. e..
London. and John l.. M. Fraser c. NJ.
f., London. These experts were up in
the Occur d'Alenes for several weeks
and made a most thorough inspection
and study Of the country. the forma ton
and the different mines. About two
months ago they started tb England
md Mr., O'Farrell also went across with
he options and different papers in the
deal. Attorney General Jones' of this
state was employed by the company to
pass title upon the properte Is, and as a
result of several weeks close work he
delivered to Mr.. O'Farrell d large box
# papers that were sent by express;
Mr. Bunn one of the experts was taken
ii with typhoid fever in Den yer. and as
nothing could be done until he arrived
n London with his report the negotia-
ions have been at a standstill for some
.ime. He has since arrived in London
and made a highly favora bile report on
The properties. The options expire Feb
ruary IA, but Mr. O'FarrelI will leave
London today and come through in
caste 1he trip Will take abbut II days
lime, SO he viii have only three days
ieeway. He will come direc to Spo-
zane where 1T Is expected that all par
| les in interest will meet and sign the
papers.
The consideration is not given out
| but 1t is understood that the figures are
so close that neither Mr.. Glilden of the
Tiger nor Mr. Clark of the p norman are
at all eager for the deal. Some time
ago Mr. Glidden informed a reporter
Of the Spokesman Review that if he
were young man he would not think
of parting with the mine for the price
he is to get, but he Is inclined to con
vert his property into ready cash and
then into securities that can be easily
converted pack into money On short no.
tice, and for this reason a one signed
the option
The name of the new concern is the
Occur d'Alene Mining COMPANY Limit
ed. The capital stock is 100000 pounds.
divided into 200 ordinary shares and
100000 preference shares. all of one
pound each The eompapy contracts
and guarantees to remit to the London
& Southwestern bank on Tie first dav
of each month 1000 pounds on account
of profits, out of which the directors
will pay monthly dividends at the rate
OF 20 per cent. per annum bn the pre-
terence shares. Profits accfuing there
after are to be applied to the payment
of dividends on the ordinary stock.