Adams County news. [volume] (Ritzville, Wash.) 1898-1906, 1898-06-29
MINES AND MINING CAMPS
TWO GREAT SENSATIONS
The Republic bonded for Three
Million DOlInrs-Exciting Times
over the lie ROi SaIe-New Roads
to the Camps-Cedar Canyon News

Spokane, June 21.-An option for 30
days has been given on the Republic
mine. This is no. longer rumor. Pat
rick Clark, the largest holder of Republic
stock, admits that such is the case
I'VE gave a 30-day option on the Re.
public about a week ago." said Mr.. Clark
when asked for a statement on the sub.
| ject. Il am not at liberty at this time
to name the terms of the deal nor to say
to whom we have given the option.
may say. however, that the option is for
30 days for the purpose of permitting an
examination of the property, and experts
are now making the examination on be
half of the parties interested"
| Mr.. Clark declined to discuss the dea,
for the sale of the mine further. 1t was
learned, however, from most reliable
source that it is the British America Cor
poration which has tied the property up
for 30 days and that S3,O00,0O0 is the
price. Hector Mac Rae and other experts
in the employ of the big syndicate are
known to be in Republic. Parties bear
ing close relationship to the British
America Corporation assert that there is
little doubt that the deal will go through.
Hon. c. II. Macintosh, managing d-
rector of the British America Corpora
ton, came down from Rossland late last
week and was asked about the option on
the Republic.
Il am much annoyed" said he, ION ac-
count of these reports that either | or the
British America Corporation have bond
ed the Republic mine or taken an option
on it. There is no truth in the state
ments to that effect and no foundation
for the riimor | want also To enter al,
emphatic denial that Whitaker Wright
or any of the parties with whom he is
interested in mining in the northwest is
concerned in any bond on the Republic
mine. ! know that such is not the ease.
and you can say most positively that
neither the British America CORPORATE N
nor any official Of it is in any way con.
cerned in any bond or option ON the prop.
erty On the contrary, ! may add that |
am in receipt OF a telegram from Whi;-
aker Wright advising me that the cor
poration will not buy any more proper
ties for at least seven months. So it will
be that length Of time at least before We
can begin TO consider properties in Eu-
reka camp"
Governor Macintosh is evidently right
in stating that the British America Cor
poration has not taken the option on the
Republic mine. 1t is well known that it
is not the intention of the corporation to
operate under that name and organiza.
ton on this side OF the international
boundary line. 1t is asserted by parties
in Spokane in position to know the
facts that it is the Whitaker Wright
crowd that is seeking to buy the mine.
While this is not the British America
Corporation, the deal is said to be in.
spired by the men in London who are the
head and front of the corporation.
The sale of the Republic for $4,000, 900
is the biggest mining deal ever contem-
plated in Washington, and il it is closed
will be the biggest mining sale made in
the western part of the United States in
the last quarter of a century, Consider
ing the fact that the mine was located
only little more than two years ago, in
February, 1896, and that it is developed
only to the 200 foot level, the price is a
large one. But when the fact is taken
into consideration that the purchasers
risk nothing in buying the property at
that figure, as it is conceded by conserva
tive mining men that there is almost if
not quite enough ore in sight 10 pay the
price, the figure is not astonishing.