Los Angeles herald., 1906-08-06

The American mine, the property or
the America Mining company of Cam
anea, Mexico, has been sold, the pur-
chaser being Thomas r. Cole, the cop
per king. The sale follows closely the
recent rich strike made by the Amer
lea company, when at a depth Of l5O
feet ore was encountered running 30
per cent copper at an estimated value
of $500 to $500 q foot, and which shows
the America mine to be the richest in
the district The purchase price was
S2500, ,000 gold, and includes all the
holdings of Lindsay and his associates
of Los Angeles.
Mr.. Lindsay was the largest share
holder and held practically all of the
interest i'm the company. Development
work on the mine has been in progress
for over two years, during which time
over $400. 900 was spent. The mine Is
but a short distance from Cananea,
and comprises practically 265 acres.
Until the recent rich strike was
made the Greene property, which is
located near the America holdings,
was believed to be the richest in the
district, but when at a depth of 100
feet the America company struck a
rich vein of ore the mine suddenly
leaped into prominence. It's purchase
by the Cole interests is an assurance
that a strong company will begin
working it at once The price PAID
while \considered high, is regarded by
mining men as not too high for such
a property as the mine has shown IT.
self to be.
Millions In Mines
The New York Mail estimates that
over $50, ,000 900 have been invested III
mining districts in Nevada and great
part of this comes from the wealthiest,
GIIRCpGGfnl
operators of this as well as other coun-
tries. There are included among these
operators capitalists of London VINO
represent over S1OO,000,0O0.
The Stray Dog, at Manhattan, shows
two feet of ore in lease No. l which
carries an average gold value of SOU
to the ton. At a depth of 135 feet In
lease No. l both drifts are in pay ore
and the development of a three-foot
shoot is now being advanced. An i'm
mense tonnage of ore running from
$40 to $40 is in sight.
Yellow Horse, in Manhattan district,
has made a very important strike ana
the vein is five feet wide and carries
very high values.
A recent shipment of Jumping Jack
ore from Manhattan averaged $500 per
ton.
A find of much Importance has been
made across Smoky valley from Man
haitian.
The Round Mountain Antelope COM
pany has made shipment of ore which
averaged $4,000 per ton. On the fifty
foot level the vein fairly sparkles with
gold and some of this high grade stun
is now being sacked for shipment.
Pittsburg people have recently pur-
chased a half interest in the Melville,
Buster and other claims in the Round
maintain country
The Round Mountain Antelope prop
erty has struck strong vein six feet
wide of wonderfully rich ore. A recent
shipment of seven tons of ore from this
property went over $4,000 per ton
Bureau of Inquiry
For the protection of the mining in
vestors of the United States. the Amer
ican Mining congress has established
bureau of inquiry, through which in
formation can be obtained as to the
condition of the property and the stand
ing of the company that has asked or
is asking for the money of the investor.
The American Mining congress is
national organization of mining men,
the directors of which are men of the
highest standing in their own states,
whose only interest is the uplifting of
the mining industry. To this end and
among other things the organization
partment of mines and mining as a sep
arate department of the national gov
ernment, and for the enactment of laws
in the various states making the con-
cealment or misrepresentation of any
material fact concerning a mine upon
which a fraudulent sale of stock is pre-
dicated a criminal offenSe.
In order that its board of directors
may be kept in touch with the general
sentiment of the mining world an an
nual session is held, to which delegates
are sent by the president of the United
States, the governors of the several
states, the mayors of cities and the
commercial bodies of America. At its
permanent headquarters at Denver, un-
der the direction of its secretary, reg
ular force is constantly employed in
carrying on its work, no small part of
which will be the protection of invest
ors against mining frauds, to the end
that mining may be placed more and
more on an investment rather than a
speculative basis.
This bureau of inquiry will be abso-
lutely impartial in its findings, its sole
purpose being to prevent ill-advised
mining Investments and to save the
west from the disgrace which follows
dishonest mining promotion.
| In order to thoroughly eradicate fake
promotion, the American Mining con-
gress is pledged to give inquiring mem
bers information absolutely unbiased,
collected from unpreiudiced sources,
largely its own trusted correspondents,
and to have but one end in view, the
protection of the investor, it's belief be-
ing that every dollar improperly in
vested is a damage to all legitimate
mining, and that the highest good of
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