Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1898-07-02
THE WHALEN BOOM

now in the East stralgntenlnS up cOm
many differences that are delaying pro-
eress. He IL also selling stock incident
slly, and now has Max Oberfelder, an old
time Eureksn, interested in the fovery
projects Of the company, and this interest
has resulted In Governor Sadler receiving
sletter from Max inquiring about the
property, and receiving also . prospectus
eosten ND few months since, giving 9
glowing account of the mines and their
possibilities. In its booklet the company
proposed TO commence the building OF
smelling and other works about she LIST OF
April. The introduction IL decidedly in.
teresting.
THE LAM MINES AND PRODUCTIONS.
The smelters will be of brick and stone,
or brick altogether. The plant will have
capacity Of 10 tons Of crude ore per day,
as Il. is mined, and the ore will safely
average in copper 81 per cent, as set forth
By the Lordon expert, Professor Owen.
No other ore known produces any finer
copper, and the 10 tons will yield 81
least so toni Of pure copper OF the best
quality in the world. Copper to-day is
selling at II cents per pound. or 500 per
ton, and the 80 IONS will yield sill 900 per
dsy and the / 500 tons per month will
yield $3.50. 600, $780, 900 Of which will Gov
err the general expenses per month. and
$50. 900 additional will be placed in the
sinking fund to protect the stock, whichis
fully paid mp and non-assessable When
the sinking fund has reached $4,000 900
then all the net proceeds will be divided
among the stockholders. This would
make 9 dividend Of 50 20 per month per
share, or the same in proportion quarterly
% is don't by many other companies, and
Ii would give to each shareholder s32.4O
per snnum. This would make the shares
worth to the owner, on the basis Of 6 per
cent, $40 per share. This so tons Of fine
copper per day will be but 3 small output
for this company. as the quantity OF ore lie
unlimited in these mines, as is more fully
set forth in Professor Ovens report. The
mines have been opened up gradually and
one shaft IL now the depth Of 400 feet per-
pendiculSr. The vein OF copper at the
4OO-foot level is over "a feet in width, and
the vein Of ore has been uncovered nearly
two miles in length by other shafts and
c~rosscuts, in fact. q large quantity OF the
ore can be mined from this group Of seven
mines commencing at the surface, and the
ore will yield from 80 to IS per cent cop
per. The company own four other mines
in addition TO the frat seven mentioned,
which are situated about 600 feet east OF
|, the first seven on another parallel vein
and dipping eastward as the first seven do.
This vein contains the same grade OF ore
carrying the same percentage OF copper TO
the ton, and this ore can also be mined on
the o~utcroppings. This vein is about the
sans width ss the first and the company
owns over Q mile in length OF this vein,
making 9 mining property over three
miles in length, ell controlled by the l00.-
900 shares Of stock, which ia fully paid
up.
A BIG FACTORY.
1t Ia the intention OF the company after
10 has become dividend paying, to manu-
facture copper into wire, sheets, bolts,
etc., and the manufacture would add 500
per ton to the value Of each ton OF copper,
which would make the selling value $500
per ton instead Of $500. Large sums
have been expended in making develop
msnts ON this property to date, and pres
emit investors get the full benefit OF that
work without making q chance purchase
90 that their investment now 10 Q certainty
and not Q chance.
Then follows the report prepared by
Professor E. Lloyd Owen for the purpose
Of placing the stock Of the company on the
London Chamber Of Commerce. He de.
scribes the mines thusiy:
THE coPPER HINES.
These consist OF nine claims. forming q
block Of mines about 2.0o0 yards long and
about 44O yards wide.
There are workings more or less upon
ell these nine mines in every and all cases,
ct surface and downward. exposing copper
ore Of good grade.
The whole OF this mining land Is ira
versed along the entire length OF 1900
yards by large assure veins. which here,
as In general in all metslliferous veins, In
limestone. become cavernous and often
enormously productive.
These veins are here in limestone, hav.
ing 9 north and south strike. and dip
east.
Upon these copper mines the principal
workings are upon Nos. /, 2 and 8 mines.
upon which q number of shafts are sunk
Of from so to 400 feet depth below surface.
From these shafts extensive tunnels are
extended into. interesting and extending
along. these copper ore veins, resulting In
all cases In the discovery Of. and working
openings into. massive csyernous assure
veins Of copper ore Of from three 10 twen-
ty-four feet wide. All Of these numerous