The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-08-13

"In conclusion, we wish to state that this
company's holdings are In one Of the most
popular districts of I,eadville to-day, sur
rounded by pay mines. New ones are be-
ing opened up hy competent and expert
enced mining men. This company. with
cash to-day In Its treasury. with machinery
paid for, no debts, but with ample funds
to open up It's great treasure vaults, is
in a most enviable position. The manage
ment is conservative and economical and
Of the best mining ability In Colorado.
You have had no proposition offered to
you with the real and true ring to 1t as has
this; nor none with so great a chance for
big money making. Investigate thoroughly
and send In your orders for this stock at
once. AS soon as dividends are declared re-
gularly. the present price of 80 cents a
share will be advanced to not less than 80
cents. and possibly to 81 per share. FIJI
out the enclosed blank and mail with check
or draft to the Prentice Investment Com
pany Of New York, A Broad Street"
Following the suggestions Of the circular,
to investigate thoroughly. THE SUN made
some Investigations. starting with the mar
ket letter issued by the Prentice Invest
it with the quotations OF the New York In
dustrial Exchange, on which THE High
Five" listed for that day.
According to the Prentice Investment
Companys market-letter of the day men
toned 300 shares Of High Five" were sold.
the stock closing at so cents asked. The
report of transactions on the Industrial Ex-
change on that day shows the highest and
lowest price at which the stock was quot
ed was 4Ola. No bid for the stock was
made. The Prentice Company's market-let-
ter for August 10 stated that, during that
day $1,000 shares of the stock were sold,
with 40 bid and 80 asked. The report OF the
Industrial Exchange showed transactions
in the stock to have been 100 shares. 81
being asked at the closing of the mar
ket, with no bids made during the day.
When Mr.. Curran was asked to explain the
apparent wonderful discrepancy between
the quotations furnished by his company
and that OF the Industrial Exchange, he
said that the market-letter showed the
number of shares sold in the Office OF the
Prentice Investment Company, as well as
the number Of shares sold on the Exchange.
The fact that High Five" Is listed on
the Industrial Exchange is said to be evil
dence that the company owns mining prop
critics which have been developed and are
producing When no information could be
obtained at the office OF the Prentice In
vestment Company, OF definite character.
relative to the properties owned by the
company, q Sun reporter called upon the
Secretary OF the Exchange for the purpose
~ p1okiDp furtha Investigation " a
| found that the only information the Ex-
| change had relative to the properties owned
by the High Five" Company was compre-
| hended in a sworn statement, dated May
| II, 1892 made by II. L. Prentice. President,
| and John A. Thompson, Secretary This
| statement gave the Information that the
High Five" Company was incorporated in
the state OF Colorado on February II, 1896.
with capital OF 81 600, 900. divided into l.,
| 900. 900 shares OF sl00 each, full paid and
| non -assessable. At the time the statement
was made, 100000 shares Of the stock had
| been set aside for working capital, and
| 325, 900 shares OF the stock were at the dis
posal OF the treasury. The directors
| named were: Prentice; Thompson; the al
| legged mining expert Phillips, extracts from
| whose report on the mine are given above;
| and E. P. Smith. According to the state
ment. the properties are at Cripple Creek
and Leadvlle. and include the only
Chance" as well as the other properties
mentioned above.
| The statement gives the following addi-
tlonal alleged facts: that John T. Stewart,
the cattle king" was the former owner,
that he expended s25 900 in the development
Of the mine; that the High Five Mining
Company" has expended s. 900 for the same
purpose, and 81. 900 for machinery in addi-
ton to $4,000 spent by the former owner,
and that the capacity Of the milling ma
| chinery. hoisting and mining ma
| chinery is from $50 to 200 tons per day.
| According to the statement, twelve men
| were employed at that time on all the prop
| critics OF the company. The estimated value
Of ore In levels or tunnels. in sight, was
$50 900, but no ore was on any Of the
dumps. This statement was acknowledged
before c. r. Waterbury. Notary Public for
New York County. Upon this sworn state
ment the authorities OF the Industrial Ex-
change listed the stock
The investigation then jumped to Lead
vile, where some more Interesting informa-
ton was obtained. The SUNS Leadvile cor
respondent learned that the expert mining
engineer. Mr. p A. Phillips, Is familiary
known in Leadville as press" Phillips, who
has been working the "Only Chance" mine
on small scale for about a year. his bills
being paid in Leadville by the Prentice In
vestment Company, with checks on New
York bank. 1t is stated in Leadvllle thai
the mine has not produced any ore since 1898
The High Five Mining Company" has evil
IDENTIFY never been heard OF in Leadville and
although Mr.. Curran told THE SUN reporter
that the money obtained from selling the
treasury stock had been expended in buying
machinery which had been installed at thu
mines, THE SUNS Leadville correspondent
learned that no new machinery has been in
stalled at least not at the only Chance
mine. Furthermore. Postmaster Alfred o
Ieadyille, has been investigating the opera
tions OF the High Five company for thu
past ten days, for the purpose OF securing