The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-01-23
cOpPER'S BOOM GOES ON.
THREE MOBE COMPANIES FORMED
rO uORK MICHIGAN MINES.

<.v strikes of Ore in Colorado-Produc
linn of Precious Metals in California nnt
>.yodn IN ~tS0S-Copper on the Pacific
Norc Gold in Eastern Utah-M
,,,I Promising Washington Mines
u..sur,x. Mich. Jan. 2O.-The new Vic.
,,j, Mining Company will have for it's Presi.
"" sy.Goy T. T.. Duustan OF Hancock. TIT
n.,.r-- comprises The old Forest, Forest Hill
nnclio. Ulcns Falls. Sylvan and Arctic proper.
,o, , tract NJ 200 acres lying on the west
h,nl Of the Ontonagon River. There are five
.n,y,l,loid copper. hearing lodes traversing
,ho ,r,rsrty. The Boston brokerage firms
~ richardson. Hin q Co. and Hornblower &
w,cks have loined in bringing the property
a,t The subscription price was 81 a share.
wJ,b SguO.UOO in the treasury. and a premium
~ - n share was bid almost before the sub
.~orirtf,u books were closed. Only n very
.moll a,aouut Of stock. perhaps 5000 shares
all t,ld. was allotted TO Lake subscribers.
The Wyandotte subscription was also a great
sp,rcss. the stock beingSoversubscr!bed by
d,ihle the capitalization, a single brokerage
house in lleughton taking orders for $4,000
shorc,. err almost half the stock. The original
owners " The property reserved Il quarter in
,ere,i i'm the new issue, amounting to 25,OOO
shares. and about 10000 shares additional
will I've allotted to subscribers here, giving
3j.OuU shares for BOSTON people.
The pawncc is also ON the market In go ID
sb9,n. i- stock having been oversubscribed
NJ 81. or an even Sl.OOO.OOO Tor the property.
and SO vas hid for it shortly alter the sub
,rrtrt,ou books were closed. Owing to the
enormous mineral area, about thirty square
miles. and the S65O.OUO on the ground in ma
cbipcry, buildings. Nc.. the stock has.be an pop
Mar with the investing public. An eXcep-
tinnnlly strong management has been secured.
Charles II. Palmer. formerly general manager
otihc Butte and Boston, being slated for Pres
iieut. with Isaac NJ. Meserve. j. II. Devereaux
md Henry Wyman of Boston among the direc-
tors. The two first named were directors Of
fine Quincy Mining Company for many years.
{ u. nanchette Of Hancock. Gov. Dunstan's
law narfner. has been in charge Of the detail
york or organization at Boston for both the
Pawnce and the Victoria.
1t was not the intention of the promoters OF
tie Onoadaga Land and Copper Company to
open subscription books here or place anv
stock locally previous to the organization in
Boston. hut a considerable number Of orders
have already been placed with banks and
brokers throughout the county. The exist
epce Of both copper and silver in large uuun-
titles in the older workings Of the Sheldon and
Columbian. now the Onondhga, Is vOuched for
ly many OF the older generation of miners
who worked there three decades ago. and with
the opening IF the Baltic lode. underlying the
entire tract. there is every prospect of open
ing a mine which should prove both large and
profitable.
The Oneca remains a mystery. 1t is the old
hungarian mine Win a Reherous auul1loh OF
outlying territory. and il is q Fitzgerald prop
.r,y fnrtber than which nothing can he
learned about it. 1t will doubtless come on
~
The marker IN due season,
rtt,a dan.h from surface and the Iode is,s
",,. la -. y, 49, SO
0FiEht win copper ana IN everV..wlSe as en-
.bovin, made hv No . shaft NJ tbe FrantIin
sn,H''t 4" y Wv i" y oo ~ III
s%outhward. Th. property comprised with the
Rbodc Island wac ovned nv rbom,sF Mason
ot Wv yort prestdsnt ~ Tho Oninsr Mininn
Company. Mr.. Mason took almost half of the
entire issue Of Rhode Island stock, which NAV
explain WHY the subscription books were open
only one day. and he has all his original stock
still. 4 new engine house is being built and
fitted with machinery at the Rhode Island
shaft and the work of sinking it will be re-
un''t "oo"' - ~ 10 ''a'en tnouen ~
ppo" me authoritS OF Cap', >, b. Harris the
agent. that the EhOde.lSland Will pay some at
ten,ion soon IN tho AIIouez oorcIom.r,ta
80" -"
"hi'h Is heileNed 10 ne richer'in metal at that
point than on the Franklin Junior property
inmedIataIv south Attsmnts to oman narir,
'"''"S
mines on the AiIoueA cohglomerate bankrupt
ed the Albany and Boston and Peninsula Min
ING gomnapi.c and AM ,ba stooL, ~ Tho A,
i"s u.s.. ~"n""m" Wv Wv ~ " " AZ
lYueL ,Ihnpaty no~n 70 ~ cents a snare after
au"it 81 d share had oeeh palu IN on ASSESS
NeutS'
COLORADO,
DENVER. Jan. S.-The annual meeting OF
the Isabella Mining Comlany. opcratiDg in
the Cripple Creek district, was held at Colo
rado.Surlugs this week. When the present
management took hold IA year ago the known
ore chutes were practically exhausted and the
expenses were averaging S2O.OOO monthly.
III raining south on the Lee shaft, ninth
level, a new chute fully 300 feet in length.
much of it being phenomena!ly rich ore. was
discovered The net profits of the company
Tor the year were S~1O6.937.c3. The company
will resume quarterly dividends next March.
\ feature Of this meeting was the exciting |
GERS .: the company kept the discovery Of The
pew ore chute a secret from the stockholders,
which prevented the latter from taking adj |
vantage Of the stock market Manipulations |
Of the stock were profitable to friends Of the
management. Another big strike on Isabslia |
ground has been roported this week The hnG
W4s .,-I- L.. - ~ |