Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1898-05-08
THE ~DUNDERBERG NINE
How This Famous Property is
Regarded in London.


The following from the London Chror-
icle will be read with Interest in this
vicinity:
An extraordinary general meeting of
the Dunderberg Gold Mines, Limited,
was held yesterday at 4G and #, London
Wall, f. c., for the purpose of consider
ing Il resolution approving of an agree
nient for the sale of the properties of the
situate in Mono County, Cali
fornia. MI. s. Jennings, chairman of Tie
company, presided.
The Secretary, Mr.. s. H. YoU3}~. having
read the notice converting the meeting.
The Chairman said: Gentlemen. before j
speaking upon the Immediate business /
for which you have l",.n called together.
let me first correct an error into which we
nave fallen in respect to the telegram, Il
copy of which we gave you in our circu-
lar. We have since received a letter from
Mr.. Kermeen, in which he informs us of
the striking of a fresh body of ore in the
Immediate drift. 90 fl. above the unnel
level: this ore is stated to be about the
value of S3S per ton. 1t is obviously this
strike that is alluded te in the telegram.
and our surmise that it was in the new
tunnel was incorrect. | may say that we
nave received a telegram tins morning
from Mr.. kernieen, i'll which he says:
Tunnel IN 3@5 it,; average sample $50 per
tor" The meaning of that 20 this com
pany Is that we have struck a fresh body
of ore, the continuation of that which we
already had, having now passed through
the fault and making better ore than at
the beginning, and we have now suili-
cient to keep our mill going for a long
time to come, and better ore than we
have yet found. When last | had the
pleasure of addressing You | explained
at length the character of the great prop
erty we own, and what would be the ulti-
mate manner in which ii would be
worked. Our efforts, most ably carried
out by Mr.. kermeen, nave always had
this in view. though our operations hith-
ertu have been confined t. development
of a very small section in the center of
the property. We have been going on
steadily securing the land, the timber, the
water right necessary for the working
on q large scale. All that We needed was
capital to enable us to do Justice to the
magnitude and value of the prospects
within our possession. We nave the sat
s~factiun of having proved thai, even un.
der circumstances of great difficulty
with inadequate appliances and dealing
with ore in broken ground, the milling
operations had yielded profit, which
however, was locked up in the concen
trates and tailings, awaiting treatment
1t was expected as soon as the Cyanid
plant should I've in operation the golC
- :. 49, H. xrA-lI =, duo ", ,r,
be realised. 1t, however. took a lon
time to adjust the chemical formula t
our own ore, and winter brought open-ai
work to an end for the season. Such de
lays seem inevitable in starting works c
his scientific character, but delays an
disappointments do not discourage whe
it is known that ultimate success is Gel
tain, for what has been done can be don
again if the aid of experienced operator
is brought to bear upon our own particu
lar problem. You lave been summone
to consider a contract for the sale Of tn
Du~nderberg property to a company, to b
formed with an authorised capital {
100000, Of which 10000 shares are to /
appropriated for the purpose of proviC
ing working capital, and if you approx
vi UI1lS w lONoi' S''A oNScP
ance of the same. l confess that it woul
have better pleased your directors ha
we seen the reinotest prospect OF raisin
some el00D on fair terms to carry on
the programme ourselves, but under tt
circumstances we think it the wise
course to accept the offer that is no
made to us. 1t practically amounts
this-we part with seven-sixteenths
our property in exchange for $500
cash to discharge our own present liabil
ties and provide a clear title and a qua
antee of at least el5, 900 of working car
tai to the new company.
These terms do not appear to be one
Gus, they are fair and reasonable, al
your directors unanimously recommel
that the contract be ratified. AS to t
future of the new company, there Dug
not to be the remotest doubt if the ma
agement continues on the SINE caref
and practical lines as heretofore. The 5
licitor will read the contract to you a
answer any questions touching it's les
bearings. There is one other matter
which l will allude, and that is the c
cumstance that we are owners of cons
cradle property in another district of c
ifornia. We have come into pOssessi
of this property without the expenditl