Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-10-19
Attorney Crissman For Stock
holders Gives Out Some
Inside History
THE SHORTAGE WILL BE LARGE
Proposition, However, Seems to BIO
Good One and He Believes That 1t
Eventually Will be Put Upon Its
Feet and May Pay Dividends
Cause of the Failure.

1Or the StOCknOlueTS III lHe 1LAooes
Mining Company investigation. gives
some inside history and facts In re-
gard to the company's business that
make interesting reading. Crissman
is OF the opinion that the company IL
properly managed Will be able to over
come all It's losses and eventually be-
come a dividend payer and perhaps
very profitable to investors. He says:
Il think there is In the nelghborhood
Of sixteen or seventeen thousand dol
lars shortage, but will not know until
the books are checked up. There has
the books or running the business. and
1t has been under q most reckless man
agement. The trouble with the whole
thing was that everything was left to
one man. Mr.. Bliss. and the facts seem
to be that he used q great deal of the
company's money for his personal use.
The management both at Iowa Falls
and Lillooet seems to have lacked any
system or any supervision by the board
Of directors and the affairs Of the COM
pany were eXtravagantly and waste
fully managed. The property is all
right. No one I have seen who has
been on the ground, and I have talked
with a great many, both members of
the company and officers, but who says
that they have never made test that
they did not find gold One man said
he even tested the dirt and gravel in
the hills and did not find shovelful OF
earth but what had traces of gold In 1t.
The gold was taken out by panning. l
have seen gravel that was claimed to
come from the Frazer river that had
flakes of gold in 1t as large as the end
of a lead pensil Professor Calvin had
been there and tested the earth before
the company was started. Mr.. Han
cock, the president, would not under
take anything connected with the COM
pany until Calvin inspected 1t. They
paid Calvin $50 a day to go up there
and make the tests and he found gold
and reported it. Calvin has been up
there repeatedly since, and he had such
faith in 1t that he and some other
friends took a claim and promoted n
new company, the Hawkeye, of which
l..
"a cents to 81 yard. The difficulty
is in saving the gold, and the difficulty
has been in finding tables for the
dredge that will save the gold. 1t is
said now that they have table that
is successful in saving all the gold.
saw letter from the man who made
the dredge claiming they We're saving
from $50 to 500 an hour. The dredge
has only been run a few days. The
question is. to get a machine that will
save the gold, the same as getting a
threshing machine that will save the
grain and not blow it all out in the
straw stack. 1t seems that when Bliss
wanted money he used that belonging
to the company, having such faith in
the mine and that he would be able to
pay it back, but he is short about six
teen or seventeen thousand dollors. 1t
it a question whether he is entirely to
blame or whether the treasurer, Mil
Ter. Is not partially responsible. The
Lillooet Company was organized in the
fall of 1902, and the building of the
dredge was commenced in the summer
Of 1903. They finally made some trial
runs in February. 1904. 1t was then re-
ported that they were saving from 81
to $3.50 per yard. Munholland's man
management at IIillooet and Bliss at
Iowa Falls was what caused the trou-
BILE. They have had about SIS day.
expenses during the time they were
perfecting the dredge. No one can tell
what the outcome will be until after
the Investigation. Bliss is sick in bed,
really sick, with locomotor ataXia. He
had had the disease for a long time,
and when this thing came out he col
lapsed. Miller should know as much
about the financial end of it as Bliss,
and should have known enough not TO
have allowed Bliss to use the money,
but everybody had such complete con-
fdence in b. 3. Bliss that they left ev-
erything to him. There are not many
creditors in Cedar Rapids. I:don't
think they have any funds in the bank
at Iowa Falls. 1t looks as il they would
have to make provisions for further
funds unless the dredge Is earn
ing money. I have not seen recent
reports, but the people running the
dredge claim it is making money. The
Hawkeye company is entirely lnde-
pendent of the Lillooet. They claim
they paid $4,000 for their claim. The
preacher Munholland had been up there
on missionary work or something, and
he came down and interested the peo-
pie. He used to preach in Charles
City and | think Iowa Falls. He came
down from the Frazer river i'll 1902.
The mine is about forty miles from Vic
toria, b. c. The Lillooet company have
bonds for Bliss and Miller. and the
Bond company will have to stand the
loss. Charles Hancock is president. The
records were kept in such a crude way
that it is difficult TO tell the condition
of things at present. Bliss and Mum
holland were also promoters OF the
Hawkeye company. Mr.. Hedges and
smoked out the recent charges. Bliss
was also manager of the Hawkeye
Company. The investigation
occurred in the latter part OF August.
Mr.. George Hedges is secretary Of the
When We smoked out these
shortage: we We're simply probing
what We thought was an eStravagant
and We're looking up use
ness expenditures of the company's
mana cement. After the shortage was
Miller was ousted and
The State bank of Iowa Falls is hold
Ing about $4,000 of the Hawksye's
on an alleged check that Miller