The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-03-24

that he made his biggest haul. through the
sale OF over 10000 shares OF Elsie stock.
This mine is on the north fork OF Wild
Horse creek. and was discovered by a
Frenchman named Joe Petrie, who gave a
piece of ore 10 two prospectors. Norris and
McGlynn. and an offer TO sell the claim for
$780, These men were on their way 20
Rossland, where they displayed the ore.
Joe Young examined IL. had IL assayed and
told the men that they had a good thing.
They Immediately started for Wild Horse
creek and paid the Frenchman $500. Re
turning they looked up Young and In the
giadness of their hearts gave hIm one-haif
OF the mine. When IL was known that one
piece of the ore assayed $500 a ton there
was somewhat OF a sensation In Rossiand.
followed by a stampede for Wild Horse
creek. A company was formed and the
first treasury stock was offered at 10 cents
and afterwards put up TO Is cents. The
price. however dropped considerably when
after working some little distance the pay
streak almost completely disappeared. II
was at this time that Or. kIlbourne. of
Seattle. had an option on nearly one-half
the stock. owned by Morris and McGiynn.
He had made one or two payments, and
upon throwing up the option was given
about 2. 00e shares OF stock for his money
paid in. But most OF this stock he after
wards exchanged with Young for other
stock. J. W. Hughes OF this city bought a
few thousand shares. which he still holds.
although he has had an offer for double
the amount paid.
After striking a bad streak the prospect
ing continued until now a shaft IL down
40 feet in remarkably good ore. About
three weeks ago f. l.. Clark who also
represented T.. n. Bouehe and DR.. -.
Campbell started In 10 buy stock. He Sc
sured the holdings OF Morris and McGlynn.
who now reside In San Francisco. as well
as all that held by Rossland parties. He
then purchased Joe youngs remaining
stock OF 200 ooo shares. The whole deal was
on a basis OF coo for little over four
flfths OF the stock. part payment having
been made and the balance 20 be paid
within a fen days. There remained In the
treasury ie5 GO OF the 1000 600 shares OF
capital stock. Mr.. Clark has had the
property examined several times recently.
and the reports are uniformly good
Lately he has received a proposition
from responsible parties who offer 70 de-
velop the mine and 10 pay a royalty OF
from 10 10 % per cent. but this offer as well
as one Of $500 profit on his investment
has been declined. All the experts report
the Elsie true assure vein four or FIVE
feet between walls. with a pay streak of
is TO % inches running through II assaying
from s4s 10 $40 per ton. Tested for con-
ceufrates the ore shows al 10 or II 20 I
nearly 100 per ton. II is intended 20
equip the mine with machinery and re-
sumo development at once. Young has
gone to the SLOGAN country 10 make a
turn on some OF the property that ne holds
there. lie FIRST went into the British Co
luTnbia mining country about three years
aeo on a mission OF Investigation and eN-
animation for DR.. Eugene Jordou. His re-
port vas rot favorable AMI as a conse-
euence the doctor ala not follow his incli-
nation TO buy property there.