The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-02-01

eT was a better and brighter Outlook Ior
I the mining Industry than IS al present pre-
E vailing and there never was more genu-
I inc and substantial inquiry FOR good pros
! poets for development purposes or for
I thoroughly developed and goisr mines
that IS. mines that are producing and pay
ing dividends" said Col a. y. Hamilton.
/ one OF the best known mining men IN the
{ city. yesterday. The demand comes prtn-
cIpaily from the large money centers Of
| Europe. such as London. Paris and Ber-
/ lin. and the most encouraging feature =
| that the Rothschilds are the most ag-
| gressive and persisten; IN their search for
I the biggest and best mines. The question
| or price cuts no figure with them; il Is only
| a question of the amount OF ore in sight
| and the milling and smefting capacity 10
| work &.
The best experts. in the world are nov in
/ the employ OF these great hnanciers, and
they are visiting al the noted mining dis
tricts Of the United States, British CO.
lumbia and Mexico. with instructions 10
examine and report on this class OF prop
| erty. Their first venture. IS We'll
known, was In the purchase OF the Tread
well and adjoining properties: and so well
| pleased were they that they again reached
out and captured the Anaconda, the prln-
cipal copper producing mine Of the United
States. which has recently paid dividend
OF nearly S4,9o0,0oo. They have followed
this up by more recent purchases In Cali
fornia, Arizona and Colorado. Il Is au-
tAoritauvely stated that they purpose in
vesting a round hundred million dollars
In mines in the United States ana British
Columbia this year.
when such men engage in mining and
look upon il as a legitimate and attractive
business. IL is very encouraging for others
10 follow in their footsteps, and they are
but they can't grapple with the larger
propositions and are content 10 take hold
OF smaller properties. They have created
a demand for small paying mines and
prospects
"Recently purchases have been made OF
promising copper and gold mines in the
Silyerton or S,iiiguamish district by
American mining men of note and expert
ence. and these sales have been consum-
mated after the purchasers had examined
mines and districts of greater fame than
those of the Cascades. They have recog-
nized that the mines in this immediate vi
entity possess merit. and the results will
follow. 1t il stated that thousands of dol
lars will be expended in this district this
year. and thousands will he taken from
the mines Other extensive sales are pend
ing in the same district, and a very active
season is anticipated, because the mines
have passed from the prospective 10 the
productive period.
I'm the Miller rivet district like condi-
tions prevail by reason OF local capital
having taken hold and proved the pres
ence OF ore in paying quantities, high
grade enough TO bear the most expensive
method % transportation. Outside capital
has now become interested, and develop
ment on large scale is under way with
the most promising prospects for great
results.
Properties that were discovered last
spring in the Cascades have been made 10
pay their way from the moss-roots down.
after transporting the ore over intricate
trails on hTonchos from ten TO fifteen miles,
and then subject to high rail charges and
the expense OF reduction. BY reason OF
these facts, offers have been made 70 pur-
chase these properties at prices ranging
from $4,000 20 $4,000.
"A promising prospect that was taken
up about a year ago has since developed
into a paying property. having betrayed
all the expenses Of development out of
the ore mined in running tunnels and
shafts Offers that would be regarded gen.
orally as very seductive have been refused.
and It IL looking so we'll that 1t Is doubtful
il quarter Of million would be &C
cepted.
These facts are merely alluded TO for
the purpose Of showing the necessity OF
developing prospects and the advantages
derived from them after they have been
the mining districts to connect with the
railroads would also assist in a wonder
full degree In giving value TO prospects
that would become shipping mines
through wagon transportation. The mo-
ment A prospect obtains a shipping record
it becomes attractive TO investors, and It
viii command attention. With wagon
roads TO every camp. hundreds Of tons OF
ore that IS now almost as worthless as 50
a. h. VI % a no.
smeltors at fair profit. and ar the same
time the mines Of the camp would assume
Importance that nothing else could give
them
Foreign capital At present has mining
property under bond In the Pacific North
west aggrcgating over 81 80. 0ao. the bonds
extending over a period OF from six TO
twelve months. The purchases are made
upon the confirmation Of the owners re-
ports and then approved by foreign ex-
perts having the fun confidence OF their
principals. The property on which these
bonds are given is mostly copper. carrying
a percentage OF gold and silver. In many
instances the pending sales call for cash
but IN others "A working interest IS taken.
y per cent. or control is given In con-
sideratiou Of placing money enough 10
thoroughly open the mines and putting
on mill or smelter plants as the character
% the ore may require in reduction.
"A year ago &c would have been almost
Impossible 10 obtain propositions Of this
character on mines bordering on Puget
sound or IN the Cascade range In fact
u was difiicuit 10 get capital TO entertain
or look n property west OF the Cascades.
This Is a great point gained.
The smclters on Puget sound AT Ev-
erett and Tacoma, have materially assist
! 81 I'm the opening Of the copper districts
tributary 20 the sound by purchasing
copper ores. These ores all carry gold md
silver 10 greater or less extent and The
percentaE- of copper b. so large as 10
make them very attractive. The immense
lodges % copper that are neW being laid
bare viii soon require srea plsuts devoted
exclusively % tho reduction and refining
- copper This c1ust hi3s fair 10 rival
Montana L1 ifs production Of that very
asefa, metal
An o31 and mu~tv rhestnut OCCASION
ais floats 20 the surface regarding the
ngiitinE ~ furnaces and rolling mills on
t0is coast out she works have failed 20
1}atsria!lze mainly because capital has
failed e. recognize the many advantages
SUCH works would p7ssezs. Japan and
/ Cain2 aye in tae market Tor the product
~ the mil. and forge and the material
passes right Rs oar door or its way 40 the
orient. after paying q long raI haul that
IN it-e( would 5e big pr1tt or rails and
/ stee} hgl.efs lt IS astonishing that ~apl-
tal5sts have faEe4 20 grasp The situation
here oa the r1anJfs eture - iron and steel
Tine benefits derived hy Seattle from
the A,aska mining trade last season can
- multiplied many times y the people
w. ~ =