The San Francisco call., 1896-09-25

the mineral development OF oregon attracted
such general attention as at the present time.
While this is true, it is also substantial fact
that mining properties in Oregon, were they
located in such districts as Trail Creek or
Cripple Creek, would bring to the owners
price fabulous in comparison to the meager
figures that are offered for Oregon properties.
1t is this unfortunate condition that the
miners of Oregon have 10 contend with, and
yet in great degree the owners OF mining
properties within the boundaries OF the State
are in no small measure responsible. The
trouble is that owners OF prospect insist that
their prospect holes are developed mines, aud
put figure on their claims accordingly.-Ore-
gonian.
There is a great deal of truth in the
charge that owners of undeveloped claims
put such prices on them as to drive capital
away. The general improvement in the
demand for mines inaugurated a short
lived boom that caused some owners of
claims to lose their heads. Every hole in
the ground became a mine. There were
sales at prices much above the value of the
properties, which had the effect of making
every owner OF claim believe he had
fortune, and there has been so much talk
about mysterious syndicates and their eX-
perts travelling around the country that
strangers ara often accounted secret agents
of the Rothschilds, after good things"
and we are glad 10 see that claim-owners
are getting more sensible and moderate in
their views. This will result in a larger
Investment of capital, for it is positively
the fact that experts sent to look up prop
critics have been driven elsewhere, conse-
quent upon the far-above-valIe prices
asked for mines in the State. The moral
of it all is do not drive capital away by
asking fabulous prices for undeveloped
claims, that for want OF it may continue
TO be conundrums.
The 0asas says that Colonel Lloyd D.
WaGdell of New York City, representing
a syndicate of heavy capitalists headed by
Frederick J. Lancaster of 2 Wall street,
has just closed a deal by which there
passes into their hands the absolute titles
to the justly noted gold properties, the Es-
peranZa and Francisco mines, which are
located in the Magdalena district of So
nora, about twenty-five miles southwest
OF the town of lmuris, and are said to be
two of the most promising gold mining
propositions in all Sonora. Reports made
after careful and thorough investigation
show that the veins are true assures and
that the properties are Of great value. The
properties are welldeveloped, having over
1000 feet of shafts, tunnels, drifts and
wines, exposing to sight over 200, 600 tons
of high-grade ore.
1t is claimed that the Rescue mine at
Warren, Idaho, is producing some ore
worth 81 per pound.
People continue to go from the valley
towns to the new mining regions around
Randsburg, Kern County.
On the Rand, South Africa, for the first
half of this year the dividends paid by
mining com mpanies-twenty-on in alt
amounted to fS54, S5l, as against FL, $780,
255 paid by tbirty-two companies in the
first half of 1895. The total production was
1052,0 600 ounces, valued at about f3, 500,-
600, The dividends, therefore, amounted
to nearly % per cent OF the output.
The Ceur d'Alenes will add between
100000 and $S,000,000 to the wealth of
the world this year, according TO Mining
Industry. The Standard mine is perhaps
the most remarkable in all of the pro-
ducers of that section. When the present
owners gained control of the property it
was an old location, and had lain idle for
a long time. An immense amount of
money was expended, and 5000 feet of tun-
mel, shafts and levels were run before
striking ore, and for three years the share
holders were regularly assessed When
the Dody OF ore was encountered it COM
menced to pay, and pay big. Within
eighteen months $S00000 has been paid in
dividends. This amount has been paid in
monthly dividends of $4,000 each, with
one or two exceptions. The company is
capitalized for $500 000 The ore concen-
trates five into one, and the value of the
concentrates is ninety ounces OF silver and
20 per cent lead. The other mines which
have paid dividends are the Cour d Alene
company, better known as the Poorman,
which has paid S340.O00; the Helena and
Frisco, $425, 600; The Granite, $63 400; the
Tiger, ABOUT $3.50, 600, and the Bunker HILL
and Sullivan, $780, 600.
The Alaska Treadwell mine report end
ing May 81 shows a very low rate of ex-
penses. During the year 263, $40 tons OF
ore was mined and milied; all expenses OF
construction, as we'll as freghts on
bullion, mint charges and all expenses OF
management, were charged to operating
account, ana the net cost works out at
only 81 08 per ton. The total yield per ton
was 81 81, or a little more than three
penny weight, and the net profit for the
year available for dividend was $497, 342
Thr Horse Creek Mining Company,
Calaveras County, has just made clean
up, with very satisfactory returns to the
owners. The gold is coarse, one piece
weighing $61.
A discovery has been made near Hog
Greek, Granite Pass, Or, of an imm ense
ped of red porphyry, which, although
showing no vein matter, gives $22 per ton
in gold.
There is likely to be much suffering
among miners at Cooks Inlet, Alaska.
There are said to be over 1000 destitute
miners now at that point with winter be-
fore them, and without means to get
away. Something should be done for
them at once. 1t would be most praise
worthy act for some charitable person to
solicit subscriptions TO a fund to bring
them home again. The transportation
companies that took them to Alaska
should in all decency give them passage
at nominal rates. There are women and
children among the sufferers.
I. A. Mclaughlin returned the fore part
OF the week from the desert mines near
Moiave, says the Arroyo Grande Herald.
and he brought some fine specimens of
gold ore, showing t. yellow metal stick
ing out all over the rock like pin heads
also gray carbonate and peacock carbon
ate, from six ounces of winch were smelted
out three ounces of gold, silver and lead
combined. He represents the mines as
wonderfully rich, and expects to see 15, 900
people in there this winter. Mr.. NC
Laughlin has spent nearly four months at
the mines, and has made many valuable
locations, and has returned to have asays
made and arrange for the working of some
of his mines.
Donohue & Co. have struck it rich in the
Jim Kelly mine on Donelly Gulch in Dead
wood mining district. The ledge al the