Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1895-02-09
HISTORY or rur DIG DEAL.
y. a. O'FarreII Has Been Working IL ?
for Several Months.

- "
for Several Months.
Roth $. s Glidden and l.. c. Dillman
refused either To deny or confirm this
Information. but IL Ii known beyond
question that similar cablegram has
been received here from p. A. O'Farrell
Mr. O'Farrell. in connection with l..
G. Dillman, has been working on the
project for nearly two years, during
which time he has made number OF
trips to London. He il there now, where
he went with options on four big can
yon creek properties the Poorman, the
Tiger. the Gem and the Frisco the
original plan was TO consolidate all OF
these in one big company and work
them under gener al system. but II 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'Farrell,
They were r. Cuuson Bum. NJ F..
London. and John l.. NJ. Fraser, c. NJ.
| E.. London. These experts were up in
the Occur d'Alenes for several weeks
| and made most thorough inspection
and study OF the country, the formation
and the different mines. About two
| months ago they started TO England.
| and MIR. O'Farrell also went across with
the options and different papers In the
| deal Attorney General Jones OF this
state was employed by the company to
| pass title upon the properties, and as a
| result of several weeks close work he
| delivered to AIR. O'Farresl a large box
| Of papers that We're sent by express.
| MIR. Bum. one of the experts, was taken
i'll with typhoid fever in Dsnver, and as
nothing could be done until he arrived
IN London with his report the negotia-
lions have been at a standstill for some
time lie has since arrived in London
and made highly favorable report on
the properties. The options expire Feb
ruary IA. but MIR O'Farrell will leave
London today and come through In
haste. The trip will take about IL days
time. 80 NJ will have only three days
leeway He will come direct To Spo
kane. where 1t Is expected that all par
ties In interest win meet and sign th'
papers.
The consideration is not given out
but IL IL understood that the figures ar,
SO close that neither Mr.. Glidden of IN,
Tiger nor MIR. Clark of the Poorman arr
| at all eager Tor the deal. some tins
ago Mr.. Glidden informed a reporter
Of the Spokesman Review that If h
We're a young man he would not thinl
Of parting with the mine for the prize
he is to get. but he Is inclined to con
vert his property into ready cash an'
then into securities that can be easily
} converted back into money on short no
J tice. and for this reason alone signed
the option.
The name OF the new concern II tn
. Occur d'Alene Mining Company Limit
ed. The capital stock Is $40. 600 pounds
, divided into 27s,0OO ordinary shares an'
/ 100000 preference shares, all OF on
r pound each. The company contract
| and guarantees to remit to the LondoI
4 Southwestern bank on the first da.
, Of each month 1000 pounds on accoun
Of profits. out OF which the director
will pay monthly; dividends at the rat
OF 20 per cent. per annum on the pre-
ference shares. Profits accruing there
after are to be applied to the paymen
OF dividends on the ordinary stock.