The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1901-02-22

veloping one of the claims of which
they were the owners. and the results
of such work seemed to justify the be-
lief that with the expenditure of few
thousand dollars more the mine could
be put upon paying basis. The COM
pany was incorporated as a "close" COR
poration; no stock was sold or offered
for sale and the work of developing the
mine and putting it upon a paying basis
was undertaken by the original incor-
porators at their own expense. At this
time shaft had been sunk upon one
of the molly Stark" quartz lodges to
a depth of 40 feet, exposing at the bot
tom of the shaft
A SOLID VEIN OF SPLENDID ORE,
six feet in width, and averaging across
the entire width of the ledge from $S
to $39 ton in gold and silver.
new up-to-date steam pump and
hoist was purchased and erected over
the mouth of the shaft at an expense
of several thousand dollars, and active
work was resumed in the mine about
June, 1900. Until a depth of about 80
feet was reached, the ore continued to
improve, and hundreds of tons of quartz
were taken from the shaft, that was
conceded by the old miners who ex-
amined 1t to be the finest quartz that
had ever been mined in the placer dis
trict. 1t was the purpose, at this time,
to drift east and west upon the ledge for
a distance of 100 or more feet in each
direction and with the body of ore thus
opened up 1t was felt that the erection
of
A STAMP MILL
would be warranted. At depth of 100
feet, however, fault in the vein was
encountered, called by the miners a
horse" The shaft was continued to
depth of 12O feet. and from this point
drifts were driven. to the west 80 feet
and to the east ITS feet. The "horse"
was encountered at nearly all points
in the drifts and the quartz, although
rich in spots. was. for the most part,
low grade. In January, 1901, owing to
the excessive rains which were filling,
the workings with water, it was decided
to close down until spring.
PRESENT CONDITION OF MINE.
The machinery at the mine has all
been put in proper condition for win
tering; tools and equipment have been
stored, and a reliable watchman is in
charge, day and night, of the Company's
property. At an expense of not to ex-
ceed 500 the shaft and workings can be
pumped out in the spring and active de-
velopment resumed.
REORGANIZATION OF COMPANY.
Owing to the large amount of work
which has been outlined for the next
season at the Molly Stark and the
Sierra County Copper Claims. it was
decided, at meeting of the stockhold-
ers to recapitalize the company, and to
increase the capital stock from $4,000,
(the original capitalization, to $1,000
900. and to change the company's name
to "The International Mining and De"
veloping Company.
THE SPLENDID SHOWING
which has been made at the Molly
Stark and at the July" copper mines,
fully justifies the belief that either of
these valuable properties will. when
fully developed. be capable of earning
dividends on at least $2,000,0 900.
The capital stock is divided into two
million shares of one dollar each. It
has been decided to offer for sale a por-
tion of the treasury stock as
funds may be needed with which to pay
for development work.
ALL STOCK FULLY PAID, NON
ASSESSABLE.
All stock issued and hereafter to be
issued will be issued as fully paid,
non -assessable stock. and under the
laws of West Virginia. there will be no
further liability upon the shareholders,
either contingent or otherwise.
SALE OF TREASURY STOCK.
Only such limited number of shares
of the treasury stock will be sold from
time to time as may be found necessary
to raise funds with which to pay for
actual development upon the COM
panys claims.
Not one dollar of salary will be paid
to any officer of the company until the
company is upon dividend paying
basis.
Every dollar OF money raised from
the sale of treasury stock will go into
the actual development of the mines.
A DESIRABLE AND SAFE INVEST
MENT.
Those who purchase stock now will
secure thelr STOCK at the lowest hgure
at which it will ever be sold. The ele-
ments of chance and risk have been
eliminated by reason of the
results obtained from work already
done. The company is not required to
spend thousands of dollars for the pur-
pose of determining whether 1t can To-
cate mineral ledges and ore bodies up
on property. The ledges are already
located; the ore bodies are already
opened up. and the value of the same
has already been determined.
STOCK MAY BE PAID FOR BY IN
STALLMENTS.
Inasmuch as the money will be need
ed only as development work progresses
the stock may be paid for In ten equal
installments. In this way investors can
easily pay for their stock without miss
Ing the money.
A shall suu On fnvoefeH mar ~..,c