Daily capital journal. (Salem, Oregon) 1903-1919, 1910-10-29

N~-N-~---
as mining center to most Salem peo-
pie, he would get an incredulous
smile, or perhaps considerable jol-
1y, and for the reason that about its
mining industries, 1t is as woefully
Ignorant as 1t is about many other
things within its limits. Outside of
private holdings, Salem corporations,
representing stocks of the par value,
of more than s10,O00,00o have their
headquarters, their home offices
here ] do not mean to say that at
present these stocks could be sold
for that. nor do | intend to convey
the idea they are not worth that
much, and possibly many times that
much 1t is the custom in incorpor-
ating to place the shares of mining
stock at a par value of $1.0O and to
place them on the market at from B
to 80 cents share according to what
the value of the mine is supposed to
be at the time. That some of the
mining stocks owned in Salem will
eventually make their owners rich Is
not only possible but probable, in fact
in some of the cases IL may be set
down as a certainty. Not only is
Salem considerable mining center,
but Marion county contains some inn
mense bodies of mineral, that with
proper transportation facilities VIII
bring to their Salem owners immense
wealth. | allude to the Gold Creek
district and the district adjacent to 1t
on the Little North Fork of the San
tam where some splendid bodies OF
copper have been opened. In the
Gold Creek district, the Gold Creek
has done an immense amount OF
work, has good ore and lots Of 1t on
the dump and in sight. So has the
Freeland and so have several others.
They have showings that in Montana,
Nevada or any old mining state
would cause a stampede. These ores
are base, carrying high per cent in
copper and from So to $40 In gold.
The lodges are strong well defined
veins and have been opened deep
enough to insure their permanency.
It is only. question of railroad up
that way, which must come before
long. as the immense body of timber
viii compel 1t, to make these mines
all producers and dividend payers.
The district a few miles east is in
The same condition, and has fine
showing though the veines carry more
lead than those of Gold Greek.
The Oriole Mining Company is
Salem corporation, though its prop
erty lies in Josephine county in the
famous Galice district. This is
free gold proposition. The ledge as
most of the ledges are in that section
is of vast size, and the ore hign
grade. The vein has been cut with
four tunnels, cross cuts, to depth
of 500 hundred feet and the ore
bodv cross cut for nearly 800 feet.
This ore will run from SIS up, and
seme of it goes into the thousands.
There are hundreds of thousands OF
tons of ore in sight, and every dol
larit carries above So per Ton should
be net profit :
Oriole stock, under. its present
showing should be looked "pon bg its
owners, as getting close to the diyi-
dend paying stage The company
will soon install a plant for working
n hundred tons day; just as soon
in fact as the best process of working
ii. is decided upon. A short time ago
90 tons of Oriole ore were sent 10
the Tacoma smelter, and the net re-
turns above smelter charges were
SS,s9S.4S, or about $4,000 per ton.
This property is about IL miles from
Merlin on the s. p, 26 miles from
Grants Pass down Rogue river. The
Oriole will be heard from as one OF
the greatest II not the leader of Ore
gon's big mines.