The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-12-19
NEWS AND GOSSIP OF THE MINING WORLD

phyry dixie. which is considered a sure in
olcator OF the permanency of values.
Among the small ledge mines the Pres
ent Need is the only lode that Is being
worked to any great extent. 1t was ac-
CURED short time ago by Fred Morey,
son of Hon. p. f. Morey, Of Portland.
They have recently completed a modern
Notwithstanding arastre, and are pushing
work on tunnel to tap the ledge at a
depth of 400 feet, which will be the only
deep workings in the camp. The results
VIII have a bearing on future develop
ments. This property has produced in
late years 5000 worked in crude way,
and there are tailings and ore sufficient to
turn out at least $1,000 or more The
upper levels have been stopped where the
ore is free and the base is left
The Keystone, adjoining the Present
Need, Is one OF the has beens' of the
camp. In early days it was a good pro-
Queer, but of late years the ore has run
out. II is the intention of the company
owning this property to erect a large mil!
on the mine soon, and an attempt VIII be
made to make IL again what It once was.
The owners OF the properties in this dis
trict have no conception. it seems, of the
actual value OF the different properties,
and hold them so high that men with
money Will not bother with them. Pros
poets on which there is absolutely no
showing are held at $1,000 and old worked
claims are held at 5000 There Is not a
stamp mill worthy of the name in the
district. There is some talk OF a smelter,
but 1t Is considered the dreamings OF pro-
motors who wish to profit by It.
w. w. Oliver superintendent of the
Pomeroy dredger, near Wetherby, was In
the city yesterday. The dredger has been
closed down for the winter. The weather
so FAR has not interfered With Its WORK,
but slight accident happened to it a few
days ago and as IL could scarcely be ex-
pected that II could be run all winter. it
was thought best to shut IL down until
spring, and in the meantime It VIII be re-
paired and thoroughly oyerhauled. The
company is highly pleased with the results
obtained the past season.
Ii is reported on good authority that the
coal fields of the John Day valley are at
tracing the attention of some prominent
capitalists from the East, who will make
thorough Investigation of the deposits
at an early day. When this matter was
first mentioned IL was stated that wagon
load of coal brought here and shipped to
Portland was consigned to railroad people
who are especially interested in the fuel
question, and who are also connected with
companies building lines in that direction.
1t is presumed. therefore, that these rail-
road builders are the gentlemen who 1t Is
undisturbed John Day coal fields.
The strike reported at the Cornucopia
mines few days ago, when a large num-
Der of the miners employed there walked
out on account of some difficulty, was am
icably adjusted. and the mines are oper-
ating as usual with full force. The daily
output of gold is about $1,000 from twenty
stamps.
The Bonanza mine in the Granite dis
trict well known as a steady producer.
and said to be worth at this time 81, 100000
seems to be In trouble. A bill In equity
was filed In common pleas No. last week
in Pittsburg, Pa. asking for Q receiver
for the Consolidated Bonanza Gold Mining
Company The bill was fled by Frank
Moore, and Is directed against the COM
pany and F. y. Hayes, as president
Moore says he holds s,GU shares of the
capital stock of the concern. which ac-
cordnc to the prospectus acquired prop
erty in this part of Oregon, Baker county,
which was sold for $4,000 cash and the
balance Of 100000 was secured by mort
gage. He says Hayes has complete con-
troll of the corporation and its officers,
and thai none OF the money derived from
the sale of the capital stock. or operations
of the company has been received by
Jennings as treasurer beyond a special
deposit of $2 made by Hayes. Moore, in
the bill, states that Hayes "has illegally
and fraudulently kept TO himself as his
own, without further accounting and with
out any consideration. all OF the remain
ing portion of the stock. to wit, 126.Oua
shares" and also that THE said defend
ant, Frederick r. Hayes, has entered
upon a conspiracy to induce ana coerce
your orator and other stockholders of the
said defendant company 10 consent TO a
disposition OF their holdings of capital
stock at grossly Inadequate prices. etc.
Moore says ne expects 10 be able to prove
that Hayes Is personally Interested in a
combination OF persons who seek to ac-
quire the property below its real worth.
II is asked that the company and Hayes
be restrained from dispensing OF any Of the
stock, that an accounting be made and
that a receiver for the concern be APP
pointed This case is quite interesting TO
mining men OF this section, as this prop
erty ia considered to be one of the rich
est in the district, and was supposed to be
headed by very powerful concern.