The record-union., 1899-05-04

Harmon Butte; w. F. Detert ANA
dor; F. F. Thomas, Mark B. Kerr, CAL
averas; d. r. Oliver, Thomas Hender
and F. NJ Wilmans, Tuolumne County;
H. E. Picket, Ell Dorado; M. E. Dlttmar'
Shasta; Charles C. Derby, Santa CARA
and P. A. Buell. Stockton.
Reception mmittee-Henry T. Gage.
James D. Phelan. Irving M. Scott, ID. NJ
Burns, B. J. Ralston, W. w. Montague
Robert S. Moore, James Spiers, Jr., p
T. Lacy, Tyler Henshaw, S. j. Hendy,
H. T. Lally, S. Mooney, Colonel George
H. Wallis, Joseph Slosss Edward Cole-
man. Andrew Carr an, John M Wflgn.'
John F. Davis, James S. BrowneH'
George johnson, j. Birmingham, Julian
Sonntag, w. A. Doble.
QUESTIONABLE SCHEMES.
Mining and Scientific Press: 1t is evil
dent from the tone of numerous let
tiers received that the present activity
in mining has resulted in the fiotatlon
of some mining schemes, the character
of Which should be investigated, at
least, by intending purchasers of stock
1t is not at all uncommon to receive
inquiry concerning this, that, or the
ether concern, the whereabouts OF
whose property can only be ascer-
| tanned, if at all, with the greatest diff
| fieulty, and yet the prospectus of these
concerns are most elaborate. One com
! mon feature of these wildcats is the
coupling of the name of property they
are trying to boost with that of we'll
known producers, the language of the
prospectus leading the would-be in
weston to believe that they either join
or are in the immediate vicinity of
valuable mines, when, in fact, they
may be many miles distant. Old mines
with unenviable records are promoted
under new names; the names of sue
ceSSful and valuable mining properties
| are applied, with slight variation, to
| new ones, having little or no merit,
| actual or prospective, for the purpose
| of leading the public to believe that
When purchasing stock in these con-
Germs they are buying into a rich and
/ going property. These and many other
forms of deception are practiced to
catch the careless investor. The simple
| fact of being in the same county, the
same neighborhood, or even immedi-
ately adjoining rich mine gives no
| actual value to any other mine unless
such mine has a valuable deposit of ore
Within its own ground except for pure
ly speculative purposes, but the idea
| is gAieral that the chances for strik-
ing it, are better in the neighborhood
OF a rich mine, when really there is
| much doubt about it; but the I'M
! scrupulous promoter makes the most of
| 1t. There are meritorious new concerns
in the market where there is good
chance to win by the economical de-
| velopment and operation of a prom
| Using prospect, but there are many 9TH
| ers which have nothing to recommend
them, the market price of the stock
| of which would indicate an actual
cash valuation of many thousands of
/ dollars The reaction which always
follows the bursting of these gilded
bubbles has bad effect on the indus
try of legitimate mining
SUFFER- CREEK ORE.
Amador Record: Last Friday a party
of four, including the writer, took a
trip ups Suffer Creek as far as the old
| Treadwell mine, and spent the day
roaming over the hills and exploring
underground tunnels. A couple of years
ago the Treadwells run third tunnel
| of several hundred feet in length to
the ore body and then abandoned the
| property, or virtually So However
| judging from other operations of those
| gentlemen in this county this pro-
ceeding was not a strange one, and in
| the eyes of those. who are acquainted
| with their methods of carrying on mine
development propositions, does not de-
tract from the value of the property
they have withdrawn from In going
| through the various tunnels and work
! ings of this mine we found a great
| deal of ore exposed to view, and iudg-
! ing from the way in which everything
| proSpected in free gold it undoubtedly
/ ought to pay to mill. 1t certainly
seems to US that with practical man
agement this property can be developed
into a good business proposition
TUOLUMNES MINES.
The following items are from the So
nora Union Democrat:
| Reports are being circulated that an
| attempt will be made to find financial
! backing to run a tunnel from Moe
casin Creek that is to be three miles
| long and tap the mother lode at
| great depth. The tunnel would doubt
less cut some very rich rock The pro-
| ject might be made pay if handled in
| telligently and not buried under debt
to start with that would take twenty
years to remove even under favorable
conditions and therefore all hinges on
the promoters.
The Free Lance mine situated on the
| Tuolumne River, near Wards ferry
bridge, has been bonded to p r. and
Frank ]. Gardner and G. A Myer of
San Francisco, for $4,000, LOCO of
which Was paid down. The property is
= located on q steep hillside and offers