The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1895-02-07
HISTORY OF THE BIG DEAL.
p. A. O'Farreil Has Been Working 1t Up
for Several Months.

p. A. O'Farreil Has Been Working II Up
for Several Months.
Both S. S. Glidden and l.. C. Dillman
refused either to deny or confirm this
information, but it is known beyond
question that a similar cablegram has
been received here from P. A. OFarrell.
Mr.. O'Farrell, in connection with L.
c. Dillman, has been working on the
project for nearly two years, 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 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 a general 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 P. Coulson Bum, NJ E.,
London, and John l.. M. Fraser, c. NJ.
e., London. These experts were up in
u
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 Mr.. 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 Mr.. O'Farrell a large box
of papers that were sent by express.
Mr.. Bum, one of the experts, was taken
i'll with typhoid fever in Denver, 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. He has since arrived in London
and made a highly favorable report on
the properties. The options expire Feb
ruary IA, but Mr.. O'Farrell will leave
London today and come through in
haste. The trip will take about II days
time. so he will have only three days
'Ieeway. He will come direct to Spo-
kane, where it is expected that all par
ties 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.. Glidden of the
Tiger nor Mr.. Clark of the Poorman are
at all eager for the deal. Some time
ago Mr.. Glidden informed a reporter
OF the Spokesman-Review that If he
were a 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 back into money on short no.
tice, and for this reason alone 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 100000 ordinary shares ant
100000 preference shares, all of one
pound each. The company contract:
and guarantees to remit to the Londor
& Southwestern bank on the first da!
of each month 1000 pounds on accoun
of profits, out of which the directors
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
or dividends on the ordinary stock.