The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1905-04-28
THE OvERWnlCn COLD MINING co.

THE OVERNHICH GOLD MINING co.
! 4 Company of Virginians Formed to
Develop Valuable Western Lands.
Morris Steinberg, R. Steinberg,
Joseph Roman, Michael +. Tanning,
Andrew Hawkinson, Rod Mcdonald
and John NJ. Martin, of this city, are
the promoters of curporatipn to
be known as the Overwhich Gold
Mining Company, organized for. the
purpose of developing and working
the Steinberg quartz properties in
Ravilla county, Montana.
The capital stock is ST yO0o, ,g00, com
posed of shares of $l.O par;.vaiue
each. The articles of Incorporation
have this week been, filed with the
proper officers of the state of Mon
tana. BY the articles of incorpora-
tion all expenditures and payments
of money must be-for actual ex-
penses for material and labor in the
development of said mining prop
critics and interests, and no other
debts are to be incurred, and no ma
terial is to be purchased or labor
employed unless there is money in
the treasury of the company to pay
tor the same, and no payments are
to be made except by order of the
board of directors or trustees, who
for the first three months shall con-
sist of Morris Steinberg, r. Stein
berg, Joseph Roman, Michael +.
Tanning, Andrew Hawkinson, Rod
Mcdonald and John n. Martin:
The Steinberg properties, rights
and interests III Montana, are ex-
pected to develop rich gold depos-
its in the principal mountain of the
Overwhich Creek District in Mon
tana. The outcroppings show we'll
defined lodges of gold, and it is the
intention of the organizers of the
company to run tunnel into the
side of the mountain and tap the
ledge, which is visible on the sides
of the mountain. From all indica-
tions the Steinberg mineral inter
ests will develop into bonanza.
The first meeting of the board of
directors will be held on May 10th,
at which time block of treasury
stock will be placed at price that
will be reasonable and will enable
60 u sui:
mence work on the proposed tunnel.
Reports will be furnished regularly
of the prosecution of the work and
assays will be furnished of the char.
acters of the ores. Although the
par value of the stock is one dollar
per share, if the expectations of the
organizers of the company are real.
lied in the running of the tunnel
! and the ecross.cutting into the noun
tain at intervals of every 30 or 1OC
feet, there is nothing to prevent the
/ capital stock having a market value
of hundreds of dollars per share.
BY working the property through
! the tunnel system the management
does not expect to be troubled with
the expense of contending with wat.
er in the work, and if water is need.
ed in washing or milling the ores
the water from OverwhiCh Greek
can be utilized. The top of the
ledge shows. that the reduction OF
the ore will be an easy proposition
as the ore is free milling and none
of the expensive reduction or mill
! ing processes will be needed.
The wellknown integrity of the
incorporators of the company will
be an insurance that the interests
and rights of the stockholders will
be sacredly protected. The inten.
tion of the company is to develop
the property for the interest of the
stockholders, and thus make the
Overwhich Mine a source of divi-
dends and profit for all share hold.
ers.