Los Angeles herald., 1906-11-16
OWNS RICHEST
MINE IN WORLD
G0LD-BEARlNG LANDS HAVE
FABULOUS VALUE
Los Angeles Company Has $4,000 900
with Which to Develop Holdings
Of Untold Wealth In
Colombia


and a closed corporation to begin with,
the Pan-American Gold Dredging COM
pany, managed and backed by Los An
seles business men, yesterday entered
into the local field of commerce to man
age and work the fabulously rich gold
mines OF the Frederick II. Rindge estate
In Colombia, South America.
For some time past the business men
have been negotiating for the vast
properties lying just below the Panama
canal and directly in the richest gold
zone of the world
Finally they secured It, Ellis Mallery,
a well-known western mining expert,
acting as chief adviser, and Mr.. Mall
lery Will now serve as managing di-
rector for the entire company. Theodore
Lamb, another well-known mining ex-
pert, has also been prominently identi-
fed with the deal and is heavily inter-
ested in the new company.
The company is not a promotion COM
pany and there is practically no stock
for sale According to the statements
of the directors. the work discontinued
by the death of Mr. Rindge about a
year ago will be taken up within the
next few months and the great gold
fields opened with modern machinery.
Richest Mines In the World
Yesterday the board of directors held
its first meeting. Colonel ]. b. Lanker-
SHIN is president of the concern; w. r.
Rowland, vice president; Dana Burks
second vice president; DIR. j. r. Haynes
director; L. Douglas Sovereign, secre-
tary, and John w. Mitchell treasurer
Mr.. Mallery, the manager, is also
member of the board.
The mining property is considered o1fn
of the finest in the world.
Eight wears ago a buginpSS mariner
of Frederick H. Rindge of Los Angeles
visited the Colombia gold belt. At that
time there were twenty-nine mines on
the property now owned by the new
company. These mines were being
worked for the most part by natives,
who used the crudest instruments in
getting at the mineral. The explorer
was anxious for immediate work, but
Rindge, fearing that trouble would re-
suit unless he obtained complete con-
troll beforehand, forbade the use of mod
ern machinery on the property. AT first
hydraulic mining systems were put in
and gold sought for in the foothills
surrounding the beautiful valley of the
Rio Porce. Rindge spent eight years
selecting the eleven thousand acres of
the best gold land in the very heart
of the undeveloped mining section. The
old legends of the great god deposits
to the north from which the ancient
Incas of Peru secured their fabulous
wealth, have always placed these de-
posits at point somewhere near the
Rio Porce, one of the richest rivers in
the world. The present mining prop
erty extends for distance of twelve
miles on both sides of the river. Orig
inally 1t comprised eleven thousand
acres, which has been added to until
The present company controls nineteen
thousand acres of land, said by min
ing experts to pay $25 to $50 per cubic
yard.
Valley Full of Gold
When Rindge bought up the property
1t was being worked chiefly by individ-
uals and small companies Hydraulic
mining was tried in the foothills until
the experts discovered that the valley
land was fairly loaded with gold; that
the sands of the river and the bedrock
were so fertile with the yellow metal
tnat wooden rockers and placer mining
netted almost unheard of results.
= The work was Immediately trans
ferred to the river bed and the valley.
A lS,OOO-foot ditch, capable OF furnish
ing more water than the proposed
Owens river ditch will contain, has
peen built carrying water sufficient
10 work a fleet of twelve electric
dredges From the pay gravel in sight
the dredges will have plenty of work
cut out for the next five or six years
before the pay rock need be touched.
improvements of $500. 900 We're made
on the property by Rindge and these
improvements will be added to imme-
diately by hundreds of thousands of
dollars worth of improvements and ma
ehinery being rushed to Colombia by
the new company.
According to the statement of Mr..
Mallery yesterday the work on the
mines will be taken up Immediately and
the hydraulic system kept at work until
the electric dredgers can be installed.
Ihen results are expected which will
startle the world
The section of the country in which
the mines are located is reached
through the export city of Medelline
twenty-nine miles from the companys
headquarters" said Mr.. Mallery yes
terday.
Now. just a word about that country
there.
Colombia was for many centuries the
Ieadlng gold producing country in the
world. Antioquia, which is an interior
state of Colombia, has made that
country famous by the enormous
amount of gold it has produced. It's
mines are extremely rich and when
properly opened up by capital, as is
now being rapidly done, it will again
become the greatest gold producing
country Of the world
"Cartegena, the seaport of Colom-
bia, was for one hundred years the
principal city of the southern conti-
nent. When Spain ruled the sea the
regent fleet was stationed there
"The expenditure authorized by the
Spanish crown in the fortification of
this port is variously estimated at
from fifty to one hundred million dol
lars. This enormous sum, however. was
justified by the streams of gold which
poured forth from the interior. over
$SOO000,000 in gold was taken away dur
ing the reign of the cohquerors and
since that time Colombia has produced
$500, 100000 more.
''The Rindge properties to be worked
by this corporation are situated In the
very heart of the richest gold sections
Of Colombia and we begin work at
once"
E00-G0n ENEc NuAMHE