The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-11-03
Not So Much With Respect to Its
Prospects as Its Prices.
Why CAPITAL HOLDS ktOOF.
DIR. J. X. Heddy, of Spokane, Who
In Operating in the District.
Frankly Calls Alteration to the
Biggest Stumbling Block la the
nnd Proper Treatment of Ores.

Or. j. H. Reddy. Of Spokane. IL In the
city on his aay 10 the East. after having
made a hurried inspection Of the work on
the Anaconda group Of copper claims
near Index. The gentlemen comprising
tne Anaconda company are J. b Farrell.
&. +. Chamberlain. OF Spokane; e.
Shields T.. j. 81 Mahon. or California.
Dr. Reddy and two Eastern investors.
Instead of floating treasury shares for
the creation Of a working fund. they have
gone into their own several pockets for
the funds needed III ;he exploration work.
II is the belief that the Anaconda com
pany has big mine concealed In It's
group Of Groupings. but they are attempt
iDg Ia deiude neither themselves nor the
public with respect 10 their operations. or
the outlook. In the early explorations
on the property IL Was thought that
deep-reaching shoe: Of pay ore had been
found AZ the surface. The supposed
ledge elk feet wide and three feet
of the outcrop was is per cent. copper
ore. 1t required three shafts. respec-
lively twenty. fifteen and eight fee, deep.
to prove that the prospect was a slip or
break.
About a thousand feet higher on the
mountain tn precipigous and solid forma-
ton. is another fine looking parallel
ledge. the outcrop OF which shows three
feet Of ore work has been concentrated
here for the winter on tunne!ing plan.
~ present the force Of eight men have
completed within a few feet of the pros
poet tunnel This should tap the ledge
about nifty fee; from its initial point
and at depth of eighty feet Should
the assure and ore shoot be marked as
In the groupings, another tunnel will be
driven below and this should find tho
ledge at a depth OF 400 feet ia $50 feet
- bax
been made 20 continue developments dur
Ing winter, IL Is pretty certain that the
company viii AZ least suspend operations
II no ore IL found by the first tunnel
Indeed. II Is pruba bic that they will ahan-
don the group In such an event Sew
.ral or the members arc experienced I'm
mining affairs. and they take wholly
practical view of their venture They
have decided that "a pinchlug out of ore
In the upper and apparently unshaken
ground would not justify any further
outlay
II IL n Hard Camp to Deaf In
pr. Residy. VINO devotes his entire time
to mining. and who has been a pioneer
la more than one mining camp in the
Northwest, represents capital as well a.
experience and sound judgment He has
spent considerable part Of the pas, sea-
SON scouting the Index copper properties
ha~ measured ana sampled the best nf
them and has striven to bring progressive
AMI practical investors into the district
The showing. considering the amount
~ work done" said he yesterday. 'is
excellent. The camp IL a concentrating
proposition from beginning Ia end. and II
needs al least hundrcd-ton plant Ia
demonstrate the superficial values. How
deep and extensive the ore bodies may
prove Is a matter 81 the merest conjec-
uire. the work Of tho camp has nat
been sufficiently comprehensive 10 afford
any Idea on tho subject Then the char
artevistics II the country are unique
Under such conditions u Is difnruit to
enlist any considerable amount Of capt.
,al in the plant necessary "a test the
worth of given property More partic-
ularlv Is this true. in view ~ the ex-
brilliant considerations demanded by
companies having property Ia ANY stage
Of development that Nigh; eutice "a largo
Investor or nlne promoter = any
standing I attcthnte this short sighted
ueSa a. the want ~ such experience and
sacncifv as have contributed - thu
wealth. and reputation ~ SnckAne II
Spokane prnSpectors or prospecting Conn
pautg<-for rhi~ IS what the Index com
parics may be termed had the swing ~
Index camp It wou}H have been boom
tue long sgo. with uih wheels turning
in {;
some ~ the heat mining man tn the
country have visited Index and most -
;hefu were disposed ~ do business hat
they were frightened away 10y terms
that were out OF All proportion Ia sra
@hnNiu&s and the nancy required = de
Nrlop The pfnYsrties.