The Providence news. (Providence [R.I.]) 1891-1906, 1899-09-21
Inltr-ColonlaI Copper Company.

Roston. Sept. 21.-Rhode Island capi-
tausts have purchased the copper mine
at Dorchester, New Brunswick, for merly
owned by the Colonial Copper Mining
Company. and have Incorporated the
Inter Colonial Copper Company with
q canltal stock of 50, SOC, 900, divided into
<0V,vVV "a -, ma non-assessable. The
mines are the richest IN the proNinoe.,
Ev-Gov. Herbert w. L4add OF Rhode
rsiand and ex-Lieut. Gov. H.A. Stearns
80 PRESIDENT and Nice-President re-
snectivelv. Fuller, Tilton & Co., or oo
T5o,,or'.bire street this city, are the MS
caI agents. and will offer for suDscrlp-
,i,n % 600 shares OF the treasury
stock at $3.50 per snare. ..,1oa
TLa nfFicers besides those mentioned
80 are. Treasurer, j. w. Philips or
pro,,idence: Secretary, Il. j. EDWARDS
- Prevalence; Counsel, Hon. h0Dert
w burbank of Providence, ana HON
II II. Emerson, Premier OF the rros
ince OF New Brunswick; MaIias IT, ~
tho mine. Allen w. ChapilIan. ~ -.
Federal Trust Company Oh Dos'o" ''
Registrar. ., ore have
ts,,n talxen ont of the main shatt WINCH
- doUn No q. depth of 100 feet, WIN
drifts i'm one direction l25 feet ana IN
tbe onnosite direction l05 feet. froIi
tbese mains are other drifts 20 and ~
feet respectively. al,
drainage tunnel TO unwater all
tbese workings is being driven a DIS
tance II coo feet. i'm which the contrac-
tors A., working day and night Ihe
most efficient mining machinery known
has been purchased and plans for the
construction of a smelter are unuer
consideration.
The company will build It's reduction
nlgnt al the base of the hill at tide
water and directly on the line OF the
'ntercoloimal railroad and will run lts
ores down from the mine, a distance or
two miles, by it's own gravity.
l.. $ Griswold, mining eXperh who
examined the mine August 29 and 30.
saws of the property: THE ore bear
'ng formation has been prospected for
about 450 yards. The mine is situated
i'm a stratified body of gray sandstone
and Conglomerates, belonging to the
carbonferous age. The richest ore
consists of coal seams impregnated and
replaced by the copper. A sack OF this
material gave an assay of 20 72-l000 peS
cent. copper. The sandstone or con-
glomerate adjacent to the coal is com
llloIllN BOou ore anu Samples OF lntH
were selected and assayed :the conglom
crate gave Is 62-l00 per cent. OF copper
and the sandstone gave IL 66-100 pei
cent. The highly siliceOus characte
Of the ore renders IL favorable to smell
Gown to a low per cent. Perhaps ore
even lower than per cent. can b
ui ed
Mr.. a. w. Wood, OF Fuller Tilton
Co, who visited the mine Aug. 4 and
, pronounces the ore, from samples q
his own selection, as good as any he ha
| seen.
In its circular the company state
that the cost of mining is believed I,
| be one-third Of that i'm the wester,
| mines and IL also states: when com
| pared with the average per cent. of con
| per in rock ofvhe famous Calumet an,
| Hecla, which has paid over $500. 900. OO
! in dividenis within the past fe,1 years
TO az per cent copper; Tamarack.
per cent; Quincy, l $40 per cent: VOL
| VERNE, 5S-l0O per cent: Franklin
| 31-lOO per cent; Osceola II, per cent.
the wonderful richness Of this property
stands out i'm surprising contrast"
The mine is two miles from the main
| line of the lntercolonial railroad and
| the same distance from tide water al
the head Of the Bay Of Fundy. 1000 feet
above sea level and 10 hours h. rail
| from Boston.