The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-11-21

only plAstsrsd. but 10 imprsgnatsd with
gold. 10 weighs about TWENTY-FIVE
pounds. The tales these men tell about
the richness OF the discoveries would
MI volume and are vouched for by much
circunstantial evidence. but there was
nothing new to THE Sex representative.
who had been on the ground himself.
The very latest news from the camp
and tho most important news TO mining
men Ia that the winzs being sunk from
the 100 foot level In one OF the croescuea
from the Timmins shaft has reached a
depth OF % feet and 10 all In orc. This
means depth OF 80 feet from the surface.
and ore Ii exposed all the way. It ID
known that as this orc 10 being hoisteci
every third BUCKET Ia run through the
temporary ono stamp Tremain mill.
The other two buckets are stored on tho
dump. Tho Waldorf Porcupiners esti-
mate that the dump to-day contains
5000. 600 worth OF ore. They say the gold
Is taken from the plate In the mill az tho
rate OF an ounce an hour. An ounce OF
gold Ii worth about $40 In tventy-four
hours. therefore. this small mill cleans
up s4so. A thirty stamp mill Is being
installed. The gold obtained from tho
plates Is run through a retort In an assay
plant and made into gold bricks. These
bricks usually contain about o. 900 worth
OF gold. Official figures regarding tho
richness OF the orc have not been given
out. but practical men who arc watching
tho operations say Il runs $50 ton.
The Timmins Is only one Of q dozen
properties that have been proved sum
GENTLY TO justify the very high prices at
which they have changed hands. but the
Timmins Is typical Of the other PROPOSE
lions that are fast becoming famous and
IL viii he interesting 60 hear how that
property has reached its present status
in the mining world.
This Is the story as recited at the Wal
dorf and IL is believed TO be the true story.
The bartender OF the Matabanick Hotel
in Haileybury. Ontario. had q brother
named John Mcmahon. Somehow or
other the chroniclcrse all point out that
John was the brother Of the bartender
IL seems to be important In October
1909. John gave Benjamin Hollinger $3.50
as a grubstake. Ben got TO Porcupine
and staked the HoIlingcr group OF claims.
AT about the same time Jack Miller.
an old Alaskan miner. grubstaked Alex
ander Gillies. GLlies staked the Gillies
group OF three claims next to the Hol-
hnger claims. Mcmahon and Hollinger
and Miller and Gillies then associated
themselves as the owners Of all these
claims They got back to Haileybury
and Cobalt and offered them To N. j.
o Brien. who owns the big O'Brien mine
in Cobalt and who il said TO be the biggest
in Ontario. They gave
y Brien an option on the claims good for
thirty days. at the end OF which time.
IL he took them, he was to pay $4,000.
D Brien sent his engineers TO make an
exarnina ton. The engineers turned the
down. just as engineers are
in the habit OF doing. That is what min
ing engineers are for. Talk about gam
bling IN mining II one could only read
through the back Of the hand OF cards
dealt by tatel
The rimmins brothers are men who
became rich and famous in Cobalt They
control come of the biggest properties
in that camp. They were the next TO
take an option on these claims. and the
price this time was s33n. 600. They paid
s. 90 down and the balance was TO be
paid In twelve equal monthly instalnents.
The exact figures are not known. but
these are approximate figures and are
near the truth. The Tim
rninses decided To go through with the
deal and at once put men at work develop
ing the ore discovered on the surface.
They had not gone far when they moor
porated the property with , .OOo. 900 shares
az s. each. aud contenl plated dispo-ing
Of some Of tie stock at - 50 a share. Be
fore they nod PAL tel with any Of the stock.
however. Developments Indicated that
tn. propcrtles were worth a great deal
more than tho $40. OOo.GO capital. No
stock was sold and II 10 likely none ever
be offered tho public. Tho Timmins
mine. a. il Is now known. In declared by