The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-10-19
THE PASSING THR0NGi

property, and there IS every reason 20
believe that the deal viii be eonsuIn-
mated within thirty days.
According 20 a san Francisco report.
there IS a story hack OF the prospective
purchase which GOES 20 show that even
milhonsires are 10. infaliihle In their
Judgment. There IS no bigger money
maker on the Coast than the Black D1a-
mond mines We. Il Is stated that the
little stock that has been tor sale IN the
open market has not paid any dividends.
The Sar Francisco Call, which first pub
iished the story Of the proposed sale, said
Il connection with Il:
Nobody who lived on Puget sound six
years ago had the hardihood 20 guess hsw
rich r. 3. Cornwall was. On the shores
OF Bellingkam bay in Whstcom county,
be was the ostensible owner OK the
whole OF the city OF Whz;com, the coun-
~ seat, and a prospective rival OF Seattle
and Tacoma IN the race for the CONNER
eial supremacy OF the Northwest. Corn
wall and his Black Diamond associates
possessed $500 acres Of land upon which
the greater portion OF the town was being
built. They were ambitious 10 build a
city. and they succeeded in doing so,
though IL Is runaored az the cost OF some
OF the profits OF the coal mines. Sewer
and water systems were constructed and
miles ot water front Improved with
wharves and dikes. Millions were realized
from the sale Of town lots. but the money
was put back into the city II the way Of
manufacturing enterprises. A railway
was constructed and built for many miles
into the heart OF one OF the richest tim
Der belts in Western Washington. This
railway was known as the Beilingham
Bay * British Columbia road and AFFORD
ed the Canadian Pacific facilities for an
American terminus. II IL desired one.
1T might have been only coincidence,
but at about that time there came an
other city builder to the shores OF Belling-
ham bay in the person OF Nelson Bennett,
who. having made a pot OF money con-
tracing on the Northern Pacific railroad.
was anxious TO dispute the honors Of the
Black Diamond magnates. Bennett got
a grip on a few thousand acres of land
about five miles from Whatcom and start
ed the city OF Fairhaven. II was pretty
race for a time. but In the end the Corn
wall interest won in a canter and Bennett
was glad to unload his holdings on some
Montana millionaires.
THE Bellingham Bay Improvement
Company. as the Whatsom townsite COM
pany was called, and its attendant rail-
way, are rated up in the millions. although
1t is problematical IL they are very big
dividend payers just at present, owing to
the recent depression on Puget sound.
But the Black Diamond mines have been
and are among the most valuable coal
properties on the Coast.
The mines were opened nearly thirty
years ago and have been worked at
profit ever since. The company has
capital stock of 500, 900 divided into $40
shares. II the offer of the British syn
dictate is accepted the owners of the stock
will be realizing double it's par value.
which speaks we'll for the standing Of the
property in the market.
at Is understood that the Bank OF Cali
fornia is managing the negotiations for
the prospective transfer of the property.
The company. In its efforts to promote its
townsite and railway schemes, II is I'M
derstood. was a heavy borrower from the
bank. and the sale of the property would
leave Cornwall and his associates free to
prosecute their other enterprises on the
Sound"
1t is reported IN San Francisco that d.
o. Mills Is anxious that the offer OF the
English syndicate shall be accepted while
on the other hand. p. b. Cornwall. the
managing director of the property. Is In
clined TO believe that the property Is
worth more than 81, 00000 Mr.. Cornwall's
views are In accord with those OF Seattle
mining men who are acquainted with the
Black Diamond mines. When It first be-
came known in this city that a deal was
on for the sale Of the property. some peo-
pie refused to believe II because they did
not think that the owners of the property
would consider 81 00o.0 900 offer.
Col w. W. u. Turner, OF Spokane
president of the lie Roi Mining and
Smelling Company. arrived in the city
yesterday afternoon. and is a guest at
the Butler. He Will spend several DAYS
here for the benefit OF his health. be-
hn Ia . Il
tude OF Seattle will prove beneficial in
his convalescence from a recent severe
illness
Col Turner is one OF the most infiuen-
tial citizens of Eastern Washington and
there IL perhaps no one better known
throughout the state. He is one Of the
largest stockholders in the lie Roi mine.
famous for its rich ore. big dividends and
notable owners. II is 10 the lie Rot IT'S
richness and marvellous development.
more than 10 any other cause. that the
attention OF capital from all parts OF the
world was attracted TO the district con-
tiguous 10 Rossland. And 10 Col Turner
and his associates IL the credit due for
the development Of the lie Roi. In which
thousands OF dollars was expended be-
fore there was proof positive OF the ex-
istenee Of great body of paying ore
IL was splendid exhibition OF genuine
grit ana perseverance or the right sort
Col Turner Is interested in many COM
mercial enterprises which command his
entire time. having practically retired
from the practice Of law after a success
ful career OF thirty years as an active
practitioner. The colonel. however. has
not lost interest I'm politics, having al
ways been an energetic and successful
exponent OF Republican principles, and
ne believes that the Republican party.
Win proper organization, will soon be
In power again in this state.
Col Turner has long been an admirer
OF Seattle and a close observer OF It's
progress. TO a Post-Intelligeucer re-
porter yesterday he said: Every one g.
talking about Seattle now. and 20 JUDGE
oy appearances, there Is just cause for
talk. Seattle not only has her legitimate
snare or the prosperity that IS extending
through the country but IN addition is
reaHing a golden harvest from the Alas
ka gold fields. She Is the natural gate
way 20 Alaska. and the great trade ~
that country viii continue TO come here.
both By reason of location and the care
'ui nursing II has received since local
merchants first began to reach out for
the Alaska trade.
There seems to be n prevailing I'm,
preston that the Ki0ndike strike has
hurt the Rossland mining district This
f. only partly true While n Is a "a,
that the transitory boom element has de-
eamped. the substantial properties are
stil running under fun time and fun
pay and are extracting as much ore as
ever
J. T. Csss, who served Tor years as 4tasa
commissioner OF horticulture. has tust re-
turned from his ranch IN Skarit county
where re has been for some weeks re
raised thirty tons OF prunes on three acres
Much fruit, ne says. went 20 waste IN tina,