The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-07-19

Since the Britannia syndicate secured
the controlling interest in the Howe sound
properties. known as the Britannia cop
per mines. there have been numerous op-
tions secured by capitalists in England
Scotland and the United States. looking to
the ultimate purchase OF the claims
Companies DESTROYS OF buying have had
their experts on the field since the early
days Of January. Engineer after engineer
has made the pilgrimage TO the Britannia
claims; each one. says the Province has
left Vancouver under the impression that
the stories he had heard of the wonderful
showines OF copper ore must have been
greatly exaggerated.
The stories these engineers have told
upon their return, and the reports they
have sent 10 their principals. have but
augmented the fame OF the great coast
property that was unheard of one year
ago.
In the majority sf instances the REPORTS
OF engineers to principals have so aston
tshed the latter that the directors OF the
britannia syndicate have been asked for
extensions Of options to enable the en-
gineers TO more fully inform their prin-
cipals of the facts OF the case
In nearly every case II has been i'm
possible to grant further time. as other
mining experts were waiting their turn
to make examinations This has prac-
tiealiy been the story of the many options
that have been held on the property dur
ing the last six months
Now. however. an option OF thirty, days
has been secured by a corporation which
well knows the richness OF this province
and accepts the reports of It's engineers
as final.
Last Saturday afternoon. between s ana
o'clock bond was taken on the Britain
MIA mines by the British-America cor
porstion. Of :se Rcl and War Eagle fame
The history OF the transaction dates
back to The night OF July 10. when the
option o. an English syndicate expired.
IL was then that DIR. Lefevre notified J.
H. Adams that he represented parties
who wished TO examine the mine with n
View TO purchase II an option could be
secured
Mr. Adams communicated with Mr.
Howard c. Walters, manager OF the Brit
ANNA syndicate. and was informed that
an ONION could be obtained on Saturday
AT noon. Mr walters, however stipuIat-
ed that the names of the principals must
be given. 80 that he would be sure that
he was dealing with responsible parties
lie was Informed In confidence that tho
british-America corporation desired to Sc
cure the option
meeting Of the Britannia board OF d.
fectors was then called, and the matter
placed before them; IL was decided that
the option should be granted, provided
terms could be arranged. A statement was
subsequently given by Mr.. Walters To the
representatives OF the Brtish-America
corporation detailing the amount OF work
done upon the property up to date, and the
figure of purchase was placed at yl.soo.-
ono
This statement was received as entirely
satisfactory, and a bond was taken for
one year. The first payment OF $50 600
falls due ON August II next: and on the
lfth day OF each month thereafter for six
months 10000 ia 20 be paid. For the next
succeeding three months the payments
viii be sl00one each at the expiration OF
twelve months the bond will be cancelled
by the payment OF the remaining seao.a
Until the nth Of next month the British
America corporation have merely an op-
ton upon the property the bond not be-
Ing working one. Upon the payment OF
the first Xa.Na the sale will be practically
completed. Meanwhile the engineers Or
the British America corporation will ex-
anime the property.
+ q. Hindo- Bowkcr. British Columbia
manager 81 the British America CORPORA
tlon, states that n the promises 81 the
britannia syndicate concerning the pOssl-
bilities % the mine. are half realized
the sale will so through while aware that
numerous examinations have been made
All resulting In favorable reports Nr
Hinde- h0wksr says that the company
which he represents viii occupy their fun
time limit In thoroughly satisfying them
selves as 20 tho extent and character of
the ore deposits just who win Ne sent
90 make the examination IN unknown at
the present time II iE impossible how
ever that MIR Macdonald ~ Rossiand.
will take az this important work
II the mine b. taken over next month
as contemplated. the financial resources
90 the British America corporation will
tNsure a speedy OPENING up of what Nlt
undoubtedly become one ~ the greatest
atHiirnd-pHyins copper propositions tn
the known world Hundre4s af men win
30 constantly employed IN the opening ur
Of she mine aaa setting 1Ut Of the ore
While the auxiliary smcitcrs. conceutrat-
pYs mating plant etc. viii necessarily
support an Industrial community ~ many