The San Francisco call., 1899-03-12

| Guilty in securing the title or bond. NO
one not in the scheme had any knowledge
of the proposed project and none suS-
pected what was going on. Had the plan
been talked about the projectors WouId
have been unable to secure all the claims.
The owners would have been TOO anxious
to retain possession and go into the COM
pany. After all the claims were secured
the cat was let out of the bag. Then the
men who had parted with their holdings
regretted their haste in unloading what
they considered property Of doubtful
value.
Unknown to residents of Tuolumne,
noted experts had visited the section and
made reports to the new company. Ihey
estimated that the gravel deposit was
probably fifteen to twenty feet IN dePth
and that the ground was fairly rlch Elk
perience in gravel mining has taught that
where the ground is rich on top there is
more gold at the bottom. Approaching
this fact the promoters became very san
guine and formulated plan to conduct
an extensive and comprehensive plan TO
prospect the field before deciding on the
best method to work the ground. 1t was
determined to purchase a boring machine
and sink holes in every section or the
flats, and the results obtained would indl-
cate where to begin work and at What
point the drainage tunnel would nave 10
be built.
Before commencing the tunnel 1t was of
course necessary to find the bedrock me
boring machine would find this, they
thought. Several months ago the borers
began their work and then the origlnators
of the project learned to their delight that
they had in all human probability struck
a new Ell Dorado. 1t was found that the
lava stratum varied from fifteen to nifty
feet in thickness, after which gravel rlch
in shining gold, was found: So far, now
ever, bedrock has not been touched,
though several of the holes nave Deen
sunk through ninety feet or gravel AS
was expected, vast volumes of water were
found beneath the surface, ana II tnen
became apparent that the only feasible
method OF working the G2Iconda ca1 Reside9 RaS e9
carrying off the water the tunnel Would
be used TO take the gravel TO polnt
where it could be separated from tne
gold. 1t is proposed to construct the tun-
mel large enough for a double car track
and at the same time put In series 46
rifles to capture the free gold which
would wash down with the outpourlng
torrent from the mine.
Constant assays have been made while
the boring has been in progress, and the
enthusiasm of the men interested in this
great scheme can be imagined When II IS
announced that the gravel has averaged
over s. TO the cubic yard: Should TINS
richness exist throughout the vast graVel
bed the wealth therein cannot be eStl.
mated. Millions upon millions OF tons OF
gravel can be worked at a comparatively
light cost after the preliminary work mas
been done. and the stockholders are al
ready dreaming of lives of luxury and
pleasure when they shall have become
modern CrOesuses. The only apprehension
now felt is that the bedrock is below
the level of the StanislauS River, and II
this should prove a fact the development
UroTlk wouid cost much more than is now
estimated. 1t would not be possible to
construct a tunnel through gravel, and II
the fears of the bedrock being too low
are realized another plan Will be adopted.
Shafts will be sunk and tfte mine dTlIt-
ed This would be more expensive Ihah
the tunnel scheme but the gold is there
and in sufficient Quantities 70 Warrdns
the expenditure. Hydraulcklng WouId
be an easy and cheap method of working
the mine if the restrictions on this sys.
tenn were not so stringent. Inc COST OF
other expenses of a hydraulic plant place
an impassable barrier on working the
Shaw Flat country in this manner.
For several months negotiations nave
been nending between the Columbia Com
pany and the London Exploration com
pany, which is financed by the Roths-
childs and the conference last week was
a result. Captain Miens and /, n Llilen-
thai who represent the RothSchllds IN
this city conferred with the Sonora peo-
pie on Thursday, but an agreement was
not reached The representatives of the
English company sought to drive too close
| a Bargain, and the conference adjourned
meeting me- repregentatTes of local capital
lists were present and the Rothschtld
agents were informed that their PROPOSE
tion was not good enough. The Tuolumne
men were asked to state what they want
ed and they did so. Mr.. Mccormick said
the originatOTs of the scheme were willing
to give the capitalists a half interest in
the project if the other people would put
up SIS 900 to complete the purchase of
claims now under bond and then construct
the tunnel and open the mine. This was
not acceptable to the foreign capitalists.
At this point Jacob Fisher of this city an
nounced that he represented a syndicate
which would take the proposition on the
terms offered. He gave a satisfactory
guarantee that the people he represented,
though he did not mention their names,
would take up the scheme and prosecute
it with energy and vtgor A subsequent
meeting was held and a plan for future
work decided upon.
A new company is to be organized which
will take up the development work and
carry it to completion. One million shares
of stock are to be issued. half of which
will be retained by the original promo
ters and the other half to go to the new
company. Already several members OF
the old concern have announced their in
tention of taking stock in the new COM
pany, thereby holding a double edge on
the proposition.
It has also been decided to continue
prospecting with the boring machines for
some time and where the best results are
indicated to begin work on the tunnel
Before leaving for Sonora yesterday
morning the miners interested said that
the tunnel would be commenced in about
six months. 1t is estimated that it will
take a year to complete the tunnel.