The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-01-08


TIE t5sal was ccnc.i2fed n Tocouto yeSuer-
day py Patrick Clark. ard rlse property
passes .Eco ssae saTgt5s OF the GoodaE33 Il
Blackstock syx.sSaeal1e Of Torcggeo. Canada,
SAYS me SpoSesnan-Revie
John a. Firch vtCa pTgS1S.s..t ~ the com
rasny, las, rtg1rs confirmed tlse report rat
rshe syndicate beaded BY Gecrge Gc1GeT-
ham. eae nafaorasge Ces-C1,er Of Tor1nta.
ard T. G. Bi2cksscck Of the same place
had purchased the property. He destined
TO make pubic tie price paid for the Prep
srty. biz ro5-11-g rssa here Se-seve thslt the
Consideration Is SS5a. eco.
Asked as 10 what wculd re the proceed
ure n turning the mlae over 70 the new
owre-s. he saEd:
"It VIII De some time before the new
owners val he able 70 take held. We Vii
have meeting of the stockholders and OF
the directors. The stockholders meeting
VIII he called for about the 10Th Of this
In0niEh. The terms OF the safe were secret
and 1 e%nnot give them 10 YOU"
Patrick Clark. president of the company.
left with his family TWO weeks asc Tor
New York. Ii IS believed here THAI he
Haelst from New York 10 Toronto and COM
p.etel the negotiations fer the sale.
The War Eagle Is enc OF the best known
properties IN the Trail creek district. and
il - 10 slhis mine and tss entesprising own
egs that much of THE present prosperity of
the camp OF Rosssand is directly due.
Shortly after the properly passed into the
hands Of the present company, dividend
was declared, and tire first genuine exct9e-
meut IN the distinct followed. From thai
time on untfl the present the excitement
has increased, uTfN.l now There are over so
claims recorded IA the q strict. Machinery
70 the va.ue Of tslree-quaTTers OF a million
dollars has been iTsS,a.lSs-, and an enor-
nous amount o. Development has been
done.
Up 10 the present time the War Eagle
has paid s1S7.5o0 IN dividends. and has large
reserves of ore in sight.
The history Of the mine is an interesting
one. Ii was located n 1889 by Joe Morris
and Joe BourgeCsse. and passed through
all of the ups and downs. mostly downs,
no the dlscourag cement of The owners be-
fore passing trio the hands of the present
company, In 1894. Systematic development
was commenced The same year. and in the
summer CT 1895 the first dividend, of $3.50.
was declared. In the following winter the
MINES known as the War Eagle properties
--sehe War Eagle. Ircn Mask, Poorman and
N.Tg- nia--weIe segTe gated. owing TO tie
difference IN ownership. although many of
the Stockholders were interested Tn al of
the companies.
The officers of the company are: Presi-
dent. Patrick Clark: vice president, John
A. Finch; treasurer, Austin Corbin: secre-
fary, f. E. Lucas. The trustees are Pat
rick Clark. John A. Finch, A. II. Campbell,
Austin Corhtn, B. c. Kingsbury, W. j.
Wakefield, of Spokane. and Fl. l.. Frank,
of Butte. Mort.
At the annual meeting OF the company,
ON May Is hast, AN option was given TO ID.
c. Cortsn, president of the Spokane Fails
& Northern railway. for London nteuvsts.
The price was t1en 50 share for the War
Gage and 81 a share for the Iron Mask. or
81, SOC. 600 fer both properties. Previous 70
this time Mr.. COThin had an option for 81
per share, or $500 600. for the War Eagle.
This option expired on ApTya l of last year.
The failure of the London people - take
the property. after having been granted
several extensions. lis well known. Inne-
diate.y afterwagNd tie Gorderhams opened
negott alacns. and il was rhought as thu
time had expired on December 81 THE diesai
would rot go through. but negotiations
were again opened and the SAFE consum-
npaEed.
The mine Is capitalized for 100000.
Excitement IS running high at Rossland
over the sale of the War cage m. ne 10 the
Gooderlpam syndicate of Toronto, which
is considered as a certainty there. Groups
of mining men were seen IN hotel lobbbeS
and brokers' offices. talking of the sale.
lit Is also r7Imcr-ed THAT the Iron Mask and
Virginia are included in the sale. The
mi,i5on and a half. IT Is not generally be-
heved here thar the Iron Mask and Vir-
glria are included, and the general trn-
preston is tl1at the price is $4,000 for the
War Eagle alone.
1t Is learned tonight from an authentic
source that 100000 was put UP 10 days ago
for an option on the War Eagle alone.
Mr.. Ga,lusla, OF the Jumbo milne. was
seen tonight, and said:
II have authentic Information and re-
gard the mine as Sold 5lB, do not think the
Iron Mask or Virginia are included IN the
dfal. The price is probably sS500oo. The
sale Is a good thing FOR Rossl3ud. as the
men who sold the War Eagle are min ag
men, and VIII pwt enc money into other
mines here"
None of che officers OF the company can
be found here.
The following special from Toronto was
received at Res and January 4. relative
10 the sac Of sa1e War Eagle 10 the Good
erha.a syndicate Of TogDUao. THIS syud-
carte also owns the Crown POINT group
re.
Patsy Clark today concluded with fhe
GooaeItlam syn34zafe ne-ol ar 4ons for ths
safe OF the War Eage ms-e The prce
agreed upon IS ropee71el heus as being
81 10000 Ttts is s8ed 10 a1cluie the IT n
Mask nae. Patsy Clark 'eas leen CO tae
a