The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1907-02-14
BELIEVED THEY HAD $1OOOOO,OOO I'm ORE
BUT FAILED TO DO ASSESSMENT WORK
..,,table Story Told to Purchasers of Worthless
r,olur Stock by the Officers Of the Great Ledge
Mining Company--The Difference Between the
.praSoects and the Realities.

s Prospectus v the Reality is fitting title for the
! she experience OF Elton W Smith with mining in
E ,,fnsat
n. smith possesses $500 worth Of hard-earned
- represented by three worthless stock certificates for
s o.snd shares OF the stock Of tho Great Ledge Mining
1 ...n. capitalized at St,sooooo
H. smith is a clean Young in the employ OF the
.,l. Cedar Lumber company lie saved his money and
CAV 10 better himself by investing it. His mining
,uee dates hack February 10. 1904 when he bought
4 i've thousand shares at the instance OF fellow worker
& 4. backed has judgment by the investment OF his saw
1 i Great Ledge
apparntly the most effective work done by the Great
~ Mining company was neatly printed prospectus
~ ii the fabulous wealth OF It's mime and the immense
u<a< Is stock offered 10 investors.
ne prospectus did the work
FACTS AND FORTUNES
Following the title page giving tho Of f. r, Cur
president and II Watts secretary, the prospectus
- wih the statements that facts solid things and
<xsnes arc built them
Thtse are the only assertions in tho prospectus which
= sc, dproved BY the Of this venture In the
wung paragraph Of the preface the prospectus says;
mis- company but business that of completing
= d<xscpuent and equipment Of the 0rea, Ledge mine
Y nsLinr dividend payer in the shortest time possible
B % interested did the officers become in tho sale Of
~ ana other matters that they neglected do
- es their claims Tor year and tho claims jumped
An that the explanation given Mr. Smith BY President
iris Il the failure TO develop great dividend payer.
so MANY MILLIONS
we have reasons for believing that there 100000
gold in the Great Ledge body and that win be
- out with immense profit the Stockholders says the
rsrerrus.
s 10 date the stockholders have seen nothing Of the
arus ere bed and have received back any part Of
Il original investment to say nothing Of dividends
The Great Ledge Is in Whateom county. Washington
sst1s Of Mt Baker and the boundary Inc between
sred States and British Columbia. says the prospectus
Bu 10 such ledge OF gold has been discovered in
| = ssss d Washington.
hs great body several thousand feet in length
ruxnx over 500 feet in width and developed to depth
q moves il 10 contain millions OF dollars worth Of gold that
sheapy and profi,abIy mined says the prospectus
b with millions actually sight the officers neglected
x that the proper work done to hold the
sxns 81 the company.
NOTHING IN THE WAY.
The mine can be reached at any time Of the year The
Is perfect and the eompanys rights fully established
nj the prospectus.
Bit Investigation shows that the great mine, with mill
SIGHT. in reality prospect which was valued 50
h b. the promoters Of the Great Ledge company that
~ ia 10 DO the assessment work necessary to make
srr fully established rights good
Aad on the strength OF these statements and many
ss fully as false and misleading. Elton w Smith and
r others invested their savings in the Grea, Ledge They
crested and awaited word Of developments.
Exsfy stoekhoider win be kept fully informed as the
srk psDgressesr said the prospectus.
But the stockholders waited in vain for any word from
i. company as to the mining development dividends
A ey finally sought out the officers those gentlemen
apparently forgotten entirely about prospectus promises
IAs prospect had gone gmmering So had the money OF
sekholdes and the officers had further interest IN
axm
Mr. Smith thinks the officers Of the company are still
asee lie keeps his three stock certificates as souvenirs
gadsn dreams OF wealth One Of them IS reproduced
krsuth