The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-01-05

two great mines above mentioned. which wour!
give a market price Of 800 or more per
SHIRE.
The famous ''Drumlummon'' mine. near Hell
ena. Mont. has produced about Sls.rNo.0o1 in
gold and silver during the IS years Of its
operation. and more profit is now being
made 10y the cyanide treatmen; Of the waste
tn.Iings than was made from the ore OF the
mine.
This latter instance has special bearing
here. from II" fact that the De Lamar Merrur
mines were the hrs, to introduce the cyanide
process upon 4 large scale. only a few years
ago. and to-day have the largest cyanlding mill
in the world.
The properties and equipment Of the Con
solidated Mercur Co. are SO notable that they
w"r" made the subject Of two special articles
In the Engineering q Mining Journal OF New
York som" months ago, the paper giving in
two cors"cutIv" issues a page to the history
% the properties and q page 10 a technical
description ot the methods by which Capt.
De Lamar has been enabled 10 produce i'm
mense profits from ore that was Of small value
otherwise.
In February. 1901. an official report was made
IN these mines by the State Engineer Of Utah.
NJ. Robert G. GemmeIl. In which he itemizes
OF" reserves in sight in these mines Jan. lst.
1901. the total being s%1.I17.32). which he val
u"s at ~s2.%I,y5o net. In addition to these. he
estimates that $3OO.O net can be secured by
fh' present process from tailings from the old
M-rcur mill at Manning. these tallings being
considered as refuse under the former methods.
With thes- TWO items. and the value of surface
improvements. S9I'.Vn. he computes the total
visible Value Of tn. Consolidated Com
pany's properties as SH.I.4.OO0
His significant note 10 this statement is.
''This does not include the future
Probabilities.
Later in his report he estimates these proba-
bilities as ~t.2j0.O0) tons ,equaling - $780,
. net profit. and says: Large bodies OF
pay ore are now In sight: between them there is
every probability of developing
fully as much more ore; outsid. OF
them in the unprospected three-quarters OF tie
ar"a belonging TO the company there is a pcs
sibility Of developing other large bodies OF ore"
Mr.. Gemmell thus gives the company visI-
bic values Of S3,524,UOO p%robabiIi-
ties Of : total S6.i2A 900 from
less than une-quarter of the company's proper !
ties. leaving three-quarters still to he
prosPected and developed.
The enterprise cannot yield less than At
has yielded and is yislding-but it may. anu
in all probability will, yield a much larger
Increment OF pro6t. |
We offer for a brief period. subject TO previous |
subscription. 25,oOO shares of the full paid and
worcestershire stock Of the ConsoIidai ted
Mercur Gold Mines CO.. at the extremely |
low figure Of 1915 per share 'par value $jyi. |
but reserve the hight TO decline or reduce sub
scriptions IL received after the number above /
offered shall have been fully subscribed. |
Copy OF Mr.. GemInells report above noted. |
and OF the Engineering & Mining Journals re- |
view. may be obtained, with such additional AZ |
formation as may be desired, on application |
either in person Or by mail at our offices as !
below.
Make all checks and drafts payable to the order |
OF WELLS, FARGO 4 CO.'S BANK,
or 20 |
MOORE, HALL & CO.,
Real Estate Trust building, /
Philadelphia, Pa.