The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-02-02
a TON or PURE GOLD.
That Is the Amount Received Frsm
the War Eagle sale.
spokesman- Reylew.

spokesman Review.
The sale of the War Eagla has naturally
brought large amount of money to Spo-
kane. What Il means but few people
understand. This much IS certain, 81 .SlS
shares acre held in Spokane. and at 81 80
per share will bring in money 70 the
amount OF s4s4,sl4. The balance of the
shares held outside amount 10 1a2.sS4 and
at the same valuation will amount 10 s7Se
026. or a total testimated)>of s754.ooo for the
mine.
The principal holder Of stock. Austin
Corbin, will receive for his &c 500 shares
$3.50 D. c. Corbin will receive $4,000
George Nj. Forster. sl3s Patrick Clark. for
the stock voted by him, S117.27i 50. The
value OF the stock voted by John \. Finch
was $2ls. 80. NJ. r. Galusha & Son.
Ss,S25; W. j. c. Wakefield. S37. S62: V. d.
Williamson. S. so: f. Z. Lucas. 500: Sid
ney Norman. 8. 500: III. @. Mcdonald $3.50:
D. f. Wetzel, $500: Frank T. Mccullough,
50. 600; e. ]. Roberts. ss7.ss2.5o; F.. w. Tay-
Tor. ss75; F.. VI. Shaw, ss7s; W. D. Currier.
5000; A. 7. Herriek, sl4.a2o; Ben Norman,
$500. The foregoing are all the names
which can be obtained as belonging In this
city. Much OF the stock was voted by
proxies and the names of the owners were
not made known.
There are some curious features con-
neeted with this amount OF money. or
to 35.7oo double eagles, which. If laid fiat.
and assuming each $40 gold piece is Ia
inches in diameter. would be 4i,i25 inches,
or 3,e27 feet. and would reach oyer thirteen
city blocks.
Again, in a ton OF gold. avoirdupois.
there are 1916 troy ounces OF pure gold.
and each troy ounce is worth s2067. This
would make a ton OF gold worth s6n2. I'll -.
Hence, over one and one~fourth tons OF
gold has been received for the War Eagle.
over four-ifths Of which came to Spokane.
Only a few people understand what Is
meant by s754.00o. Even those who talk
so giibly OF hundreds OF thousands, and
even millions, in the sale of prospect
recognize the fact that 100000 IS a compe-
tence, and man can live well from the
income OF $4,000. When a man puts a
price OF $4,000 on prospect he has little
realization OF what II means, and does not
consider what he may fose should the
camp play out. lie is in the business for
speculation. The man who goes into Il as
an investor usually has ample capital TO
develop the property and make II valuable
should ne desire TO sell No business offers
fewer risks 10 the mining man than min
ing. lie takes his chances. and II mis- judg-
ment is at fault in one place he tries again,
and following II as a profession, his gains
are greater than his losses.
There are mining men who are called
lucky because they develop a good pros
pect into good mine. but the world sell
dom hears OF their Improbable ventures
and where they have expended thousands
OF dollars In mining which has been dead
loss. They are judged by their successes,
not by their failures, John A Finch ex-
pended thousands OF dollars in the develop
rnent OF claims In the SLOGAN. the bonds OF
which he threw up but 1t was paid back
10 him in his sale OF the Enterprise, for
which he paid 81. 200. and. after developing.
sold for 100000 Patrick Clark has been
through the same mill
When Clark. Finch and their associates
took hold of the War Eagle no one ex-
peesed they would make success OF H.
but they did. and made the mine pay ISL
500 in dividends. and finally sold Il for s75f.-
600. making the mine. with its profits and
sale. net them ss41 600. Mining men who
follow mining as a profession never rush
recsgxiessly into a mining speculation: they
90 into II as a merchant goes into business.
and on business principles. II is an allur-
ing Misunderstanding riches from the
earth-but once a good mine Is obtained
the Profits are usually large and sure
stock speculation Is not mining, as many
in Spokane have found out during the past
year.