East Oregonian : E.O. (Pendleton, OR) 1888-current, 1908-06-19
FABULOUS FIND
OF PLACER GOLD
Company Together TO Mine 1t Out
Company Together to Nine 1t Out
of the Earth-Why Can't a Few
Pendleton People Get In on This
and Make a Bunch Of Money for
Themselves?
portland Sunday Journal.)

IOl lldllu ouluig JOuludlsJ
A truly fabulous find of placer gold
has been unearthed at the base Of
the mountains in the forest reserve
in Idaho county, Idaho, directly east
of Wallowa county, Ore, and but
short distance from this states line.
To secure this treasure a company
was recently incorporated, with Hon.
John B. Cleland, judge in department
No. 3, state circuit court, at its head,
and associated with him as officers
and directors of the organization are
George L. Peaslee of the Peaslee
Bros. company, owners of one of the
largest job printing establishments in
Portland, vice president; Richard G
Hart, superintendent of United States
lighthouses for this district, secretary
and treasurer; II. b. Perks, mining
engineer of international reputation,
engineer in charge and manager at
the mines, and w. A. Cleland, BROTH
er to Judge Cleland, w. w. Peaslee,
also of the Peaslee Bros. company,
and Captain j. +. Boone, a retired
river steamboat captain, directors
These gentlemen are associating
with them as stockholders persons in
all parts of not only Portland and
the Pacific northwest, but as far east
as the New England states, in the
great bonanza they have acquired.
I Among these stockholders are found
large number of placer miners,
many of whom have known of the
existence of the wonderful treasure
bed for years, but were not able to
work 1t for the reason that it required
100000 at the start to procure ma
chinery and piping with which to
equip the property. The first move
of the company was to have Mr..
Perks engage a corps of miners and
/ thoroughly explore and test the
ground, which covers $40 acres, and,
with its arms. is 10 miles in length,
This was attended to during the
months of October and November,
1907, and so rich was the tract that
the matter was kept secret until all
| legal interests had been attended to,
which was carefully done by the two
attorneys in the company. When all
was ready for the launching of the
enterprise apartment 220 Commercial
club building, this city. was secured,
and an issue of 10000 shares of
treasury stock was put upon the mar
ket at 25 cents per share its par VAL
ue being so cents per share. This
has been largely subscribed by rela-
tves and friends of the incorporators
and It Is expected will all be taken
very likely this month, or at best be-
small force Of men working all win
ter on the company's bitches and now
has 12 mineds and laborers employed
installing sawmill and preparing for
the reception of more than $4,000
pounds Of other material en- route. SO
soon as all is landed on the ground
larger force will be set at work.
and by August Is, or not later than
September /, It Is expected to have
the company's giants at work, and by
DtCtIlDtl lHC company 10 SpliiNNhl
II will return to each stockholder the
entire amount OF his investment, and
for the next 25 years pay dividends
Of from 200 to 400 per cent on all out
standing stock. This is the predic-
tion OF the men behind the proposl.
tion. and those who most intimately
know them will at once agree that
they are not any of them addicted to
visionary illusions.
A question often and reasonably
asked by many persons who for the
first time have read of this wonder
full channel bed of gold is how that
II has remained for half a century
when more than $1O0,000,000 were
mined from the gulches emptylng in
to It between 1850 and 1865. The
answer is that this ground could not
be mined without gravel elevators,
and 1t never has been possible to get
these into that valley until now. A
handsome booklet explaining this IL
mailed free to all who apply for 1t,
by addressing the company's office,
and It Is certainly worth reading,
whether one desires to invest the
company's shares or not. But as 1t