The San Francisco call., 1905-04-12
READY TO BUY
DREDCE MINES

r. d. Evans, Bostons multi-million-
aire, who furnished the pulk of the
capital for developing the vast dredg-
ing properties in the Oroville mining
district, arrived here yesterday from
the East and is registered at the st.
Francis Hotel. Evans has come to San
Francisco in connection with one Of the
biggest mining deals that has ever
been undertaken in California. 1t con-
Germs the consolidation of what is COM
monty known as the w. p. Hammon
properties at Oroville and the probable
sale of them to an English syndicate,
representatives of which have been on
the ground for several weeks.
When w. p. Harmon first undertook
the development of the dredging inter
ests near Oroville he readily appre-
ciated the value of the lands and the
need of large sums of money to carry
on the work. From Evans, who re-
posed great faith in Hammon's judg-
ment, the necessary financial assist
ance was quickly obtained, and in a
very few years there has been created
at Oroville a mining industry that now
includes the enterprises of a dozen
companies, representing, as whole.
the third largest interest in California,
the greater ones being the Southern
Pacific and the Santa Fe railroads sys-
TENS.
Recently representatives of several
big British syndicates journeyed to
California for the purpose of looking
over the dredging properties, and
within a few weeks after their arrival
it became known to a few that these
mining experts were quietly negotiating
for options on not only the Harmon
properties but those of other and
smaller companies. They were working
in the interest of different syndicates
and finally succeeded in getting options
on the majority of the properties, but
in view of the fact that no one of
them had been able to secure a ma
jority of the lands, negotiations were
begun between these foreign repre-
sentatives with view of settling who
should get all the options granted. Mat
ters were finally adjusted and the
work of consolidation proceeded.
According to the present plans, it
is proposed to group the properties
and then sell them as one concern to
the Britishers. This work, it is learned
from a reliable source, has progressed
most satisfactorily and the ultimate
consummation of the well-planned big
deal, involving millions of dollars, is
said to be now assured.
Among the properties that are said
to be sought by the British syndicate's
representatives are the Boston and Oro-
vile, the El Orc and the Central, the
Butte, the Indiana, the Pennsylvania,
the American and a number of smaller
dredger companies lands. Harmon
and Evans are interested in the ma
jority of these and this fact Is re-
sponsible for the present visit of Evans
to this city. He will hold a conference
later in the week with experts who
have been examining the lands.
1t is also reported that Evans. who
practically controls the Yuba Consoli-
dated Goldfeld Company's big prop
erty on the Yuba, has received an offer
for this property from an English
source, but has been advised by John
Hays Hammond, the famous mining
engineer. not to, SELL The Yuba prop
erty is capitalized for $12. 100000 and is
regarded as one of the richest dredging
properties in the world. 1t is believed
that the English syndicates will renew
their offers for 1t and that in a few
months IL will be following the other
dredger properties near Oroville into
the control of foreign concerns.