The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1899-05-10

ments does not lie entirely in the re-
turns realized. 1t has long been Gus
tomary for Eastern and other capital
lists to ask the miner if he has shipped
any ore and if he has the value OF his
prospect is enha need.
A BIG DEAL.
The Colorado Springs Gazette says
that positive cable dispatches received
announce the actual sale of the indie
pendence mine to an English syndi-
cate. The price is $1O,C00,O00. Mr.
Seerd, cooperating with the Venture
corporation of London, made the DEAL
which is the greatest in the history of
American mining. The deal includes,
besides the Independence mine, about
one acre of surrounding territory in the
Cripple Creek district.
THE DEWEY MINE.
Grass Valley Union: On Sunday
last James L. Gluyas. F. j. Smith, H.
C. Zapf and Harry Nathan visited the
Dewey gravel claim in which they are
Interested and which is located two
miles from Pike City. They were graf
flied to learn that the pay channel had
been encountered and that it is yielding
very nicely. Out of seventeen carloads
of gravel 20 pennyweights of gold was
taken, making the gravel average about
81 80 to the carload. They brought
back with them small vial OF coarse
gold and small nuggets Which l. Haas
showed to the reporter yesterday. 80
encouraged are the owners over the
outlook that they have decided not ID
sell anv more stock. There are only
tbi,tv shares and nine of these have
been uniSsued.
SOUTH SLOW ON MINES.
Los Angeles Times: You can raise
more money in Riverside, Redlands, Sar
Bernardino or any other smaller city
on mining proposition than you lcan IN
Los Angeles said a mine-owner the
other dav "A Los Angeles man." he
continued won't go look at anything
unless it shows up 100 feet wide and
mile deep and then he will want it for
any old song that he can sing himself
Some of them when they go to look at
mine act as though they were d.sap-
pointed if 500 pieces do not edge up
along the trail as they pass I've quit
looking for capital in Los Angeles.
While it is true some allowance must
he made for the remarks of an angry
and disappointed liidH, yel 'iicio -
some truth in What he said, as almost
every miner in Southern California
knows. They also know that the av-' =
age Los Angeles capitalist locks With
grave suspicion on mining propositions.
that some say Il would as soon expect
to get nv money back from two-card
faro deal or a brace game of poker as
from a NINE I know of enc instance
wherein a wealthy Eastern investor
having under consideration the pur-
! chase of a block of stock in Southern
California mine wrote to prominent
Los Angeles man for some general in
formation regarding the property. The
Los Angeles man Immediately wocte
him to have nothing to do with it; that
he would lose every dollar he put in it
that mining was all a gamble. Yet
that Los Angeles friend knew nothing
of the mines in question, had never
been within fifty miles of them, and il
| is doubtful if he knew ore when he saw
it.
| 1t is certainly a deplorable situation
for the principal industry of Southern
California; / say principal industry
advisedly, for the annual mineral out
put of the seven southern counties is a
million or mere ahead of the horticul-
tural product. You do not believe ii
Examine the statistics.
SILVER ON HIS RANCH
| Los Angeles Herald: DR.. Fred San.
delin, a druggist of West Oakland. has
discovered a vein of copper ore bearing