The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-11
METAL
Of Yellow Hue is
Their Desire.
WORCESTER PEOPLE
Have Interests in Several
Gold-Mining Schemes.

Worcester is now banking on min
ing enterprises.
A new company has just been or
ganized by Worcester people, to be
known as the Standard Mining and Re
duotion company.
The capital stock of the new con-
Germ is 100000. 1t has been organized
under Maine laws and the mine, from
which gold is to be taken is in Nova
Scotia.
The mine is not a new one. It was
operated several years ago, and the
total product during the period of OPP
Grafton was $25O,OOo worth of the pre-
cious metal.
In mining at that time, much Of the
ore was thrown aside on account of the
fact that the gold was found combined
with iron pyrites. At that time there
was no process for separating the gold
thus found, but now there is the
Rhodes process, and not a small part
of the business of the new concern Will
be the reduction of the ore cast aside
this ore will net the operators "a pei
ton.
Samples of the ore taken from the
mine, which is located at East Raw
don, and was formerly known as the
MacNaughton mine, show gold that as
says on the average of $3.50 per ton
This, with the ore already mined ano
abandoned by the old company, leads
the promoters of the new concern tc
l0nlr onn6 THAR jI1NhQt.
ments.
John H. johnson, formerly connected
with the Worcester Evening Post, is
| vice president of the new company, anc
| Wilbur W. Hobbs, who has recently re.
| signed his position with the Worcester
| Safe Deposit and Trust company, Ii
| the treasurer. The Safe Deposit anc
Trust company is the trustee of the
company. Active operations are ex'
pected shortly.
| Investments have also been made by
many Worcester people in North Caro-
| lima gold mining companies. The
| Honeycut Company has been an attrac-
| tive investment for many local people
who have secured the stock through
Mrs. J. c. Baldwin. Mrs. Baldwin has
been working the local investment field
for the past two years and among those
1 WIN nave tdACll ELOCA III CuC CoilNtl 1
are Rev. A. u. Conrad, d. D., of Ole
South Church, DIR. Wesley Davis, DIR
j. X. Warren and others. f re-"
| The company has been paying divi
dends regularly until recently. The has
regular dividend was skipped and Wor
cester people who thought that the!
had one of the best things on earth be
gan to wonder about 1t. 1t is said b,
| those who are in a position to know
that extensive developments I'm tn
plant must be made before any furthei
dividends can be paid.
| In addition to the Honeycut mine
stock of new mines in the same locality
was unloaded upon Worcester people
The Uwharri Mining and the Little
Fritz Mining companies were two o.
the later concerns to attract Worcester
| investors.
| Local brokers have little to say of TIM
companies. Few of them know anything
about them, but shake their heads OF
general principles Several Of the pro
minent brokers in the city were asked
about the investments when they were
offered to Worcester people. Their ad
vice at that time was to place money il
stock absolutely secured, rather than Il
look for large returns in companies tina
were minus the desired reputation. %
solidity.
| Information from the North Caroline
mining companies will be awaited will
intense interest by Worcester people.
l