The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1900-07-26
CHAIRMAN MINE SOLD
EASTERN CAPITALISTS PUR-
CHASE THE LOCAL
BONANZA.

! 0OiNfAAhA~f
The big mining deal which was fore
shadowed in our last issue was consul
mated here last Saturday. As result
Of the visit of Dix w. Smith and his
associates from New York TO this camp
the property of the Chairman Mining
Co. has changed hands. The price
agreed upon has not been made public,
but we are reliably informed that it is
well up ia six figures and is TO be paid
cash down as soon as the systematic
sampling Of the ore bodies has been
completed. That task will devolve
upon Prof Fred D. Smith of Montana
University and S. F. Shepherd, Super
intendent of the Old Spanish mine at
Redding, Cal, the experts who accom-
panied the party here and on whose
recommendation the property was pur-
chased. 'The entire party left for the
East on Saturday afternoon, but Messrs.
Smith and Shepherd are expected to
return before August 10th and If the
results OF their second examination are
as satisfactory as those already obtained
the money win have been paid and the
deeds delivered in less than 60 days.
No doubt or uneasiness is felt here as
to the outcome of the examination.
The Chairman is fully developed mine
whose value has been proven by the
production of thousands of dollars in
bullion as well as by the tests of the as
sayer's furnace 1t has been large
producer of the yellow metal for a num-
Der Of years, but yet the immense ore
bodies in the mine are practically un-
disturbed. A large part of the pro-
ceeds has been devoted to the develop
ment of the mine and to-day it contains
thousands OF feet of drifts and upwards
of 300, 900 tons Of ore, ranging in value
from s. to BIG in gold per ton, blocked
out above the water level. Below that
level the present owners have never
gone but there is every indication that
the enormous ledge continues to go
down as rich and as strong as it is in
the upper levels.
The company has employed several
processes for the extraction of the gold
from its ores, bat has found the cyan
ide process to be the best adapted to
the purpose. About a year ago it fitted
up a complete cyanide plant with cap
acity Of 20 tons per day which has
worked with good success and which
would no doubt have soon been en-
larged. The company also owns first
class electric power plant of about so
horse power, located only two miles
from the mine and a telephone line eX-
tending from Ely to Eureka, distance
Of 80 miles where it connects with the
Western Union Telegraph lines. All of
these properties are included in the
sale, as well as complete ten-stamp
amalgamation and concentration mill,
which IS not now in operation.
Besides Dix w. Smith Walter A.
smith and Rev. d. X. Watson, the
New York gentlemen who were here
last week, the purchasing parties in
clude capitalists from Elmira Corning
and Geneva, New York, and Bradford,
Titusville and Warren, Pennsylvania.
We are informed by Mr.. Smith that
the new company, which is to be or
ganized at once, will have unlimited
capital behind it and that the first step
will bo TO enlarge the cyanide plant on
their newly acquired property to ca
pacity Of at least 100 tons daily. With
such plant in operation, with proper
management, there is no reason why
the property should not become divi-
dend payer from the start and eventual
ly one OF the greatest gold producers of
the West.
For the town Of Ely, this sale prom
ises to hasten the boom for which we
have all bean waiting so long and go
confidently. There is sufficient wealth
of gold, copper, lead and silver de-
posted by Nature in this district to af
ford ample foundation for a hundred
paying mines. Capital is all that is
needed and with one mins in successful
operation, Others are sure to follow.
To Messrs. August and J. G. Marx,
through whose efforts the attention of
these eastern gentlemen has been drawn
to our camp the thanks of the COM
munity are due.