Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-03-04
ENGLISH SCHEME TO EX
TRACT GOLD FROM OCEAN
speelnl Corresponience.

Special Correspondence.
r ONDON, Feb. 24--With recollec-
lions still fairly fresh Of the colos-
sal fraud perpetrlted some years
ago I'm Maine by which thousands
were led to believe that huge fortunes
could he made IN investing In scheme
for extracting gold from the sea, the
American public have probably placed
little faith IN the reports cabled over
Of the wonderful results achieved here
by q new process for obtaining the
auriferous metal from the ocean.
The American scheme was g. down
right swindle A diver placed In the
accumulators mt night the gold which
Father Neptune was supposed to have
deposited there with such reckless pro-
digality The English scheme Is not "a
swindle At present IT Is simply a.
scientific experiment
but the estimates made OF the money
that could thus literally be coined out
of the sea transcribed the fabulous
wonders OF the Arabian Nights and
by COMPARISON made even Sinbads val
ley OF diamonds appear am unattractiVe
proposition to the Credulous investor.
Roclleleller's wealth seemed but beg
gars dole contwsted with the riches
that would be amassed by the syndl-
cate controlling the secret process
While none of these gross cNaggera-
tons can be attributed to Lord Tweed
dale Lord Brusscy, the Hon. Allan
Gibbs Mai-Gon. Henderson, Mai.
Coats, NJ. r.. W. Keswick, NJ, p, and
the other highly respectable gentlemen
associated with the engineering and IN
dustrial trust which Is backing the
scheme. the fact thrt the reports had
the effect Of sending up the 81 shares
10 $3.50 would indicate that some of
those who were LET In ON the ground
floor found abundant opportunities 10
make a most profitable exit
The trick appears to have been done
by "monkeying' with the report made
TO the syndicate ON the results Of the
gold extracting process by Sir William
Ramsay, one Of the most distinguished
chemists and scientists IN England, His
name liz one to coniure With. lie was
credited with having stated that the
inventors process had demonstrated
that gold could be obtained from the
sea IN such large quantities that wheth.
err the cost Of treatment was $50 or ever
| $40 per ton OF sea water, which was
the outside figure, II made little diff
ference
1t Is, OF course impossible that u maj
OF Sir William Rhmsay's high reputa
| tion and attachments could have mad
| such ridiculous statement. With M
| expenditure Of $50 for every ton OF sal
water treated the syndicate woult
achieve bankruptcy faster than any
company ever floated. Sir Williams
assistant, r. d. Littleheld, WAS quoted
, az having stated TO the shareholders
| that they had only to decide how mal
gold they wanted "a day and II coulc
be produced. And on the basis Of deal
| ing with 400 acres of sea every ~ hours
| he estimated that the yield of gold
| would be over $685. 600 per aunum.
II would be interesting to know jus
| what sir William Ramsay did report
| but that information was refused m,
| at the office Of the company However
| the facts told me by r. L. Rawson
| the consulting engineer OF the syndi
| cate, and one of the highest authori
| ties on new inventions In London, suf
| fee 10 prove how utterly fallaclous ar,
| the extraordinary claims that have beer
made ON behalf of the new process. !
| had been found by analysis, he said
that the gold held I'm solution In thu
| Irish sea and the English channe
varied from one-thlrtieth 10 one-fiftietl
| Of grain per ton Of water, Tina
| means, OF course, that provided al
Of Il could be extracted, from 30 10 81
tons ~ water would have to be treate,
| TO obtain one grain of gold which Il
worth AZ cents. Such figures hardl,
suggest the possibility that the oceal
| win ever prove a formidable rival %
the worlds sold mining industries
| MIR. Rawson frankly admitted that via
the amount Of gold held In solution be
ing so minute, the problem Of maNnl
It's extraction from salt wnter CONNER
| cially profitable was an extremely ar
Hcult one, but he was confident tina
| II could be done, The syndicate, n
| said was n private one formed Tor tn
purpose OF supplying sufficient capita