The Alaska citizen. (Fairbanks, Alaska) 1910-1917, 1911-09-04
Precautions to Take
in Leasing Property

or before You reach the crest OF the divide. Not
that l mind the hdeous noise You make for
have been used to your method of psalm-snging
for many years that do mind it in
the least. now but am only advising you so
that You will exhaust your wind before
finish the hard climb before us. Again. you in
varably have to stop when YOU begin unwnding
your caliope. and this takes time and also depre
ciates your lung power. leaving YOU in about the
same condition as the Mississippi steam boat with
its whistle large that it took all the steam
the boilers could muster in order to blow it. in
consequence of which the boat would always stop
when the signal given. In either case the
supply of power is exhausted whether it be air
or steam. just the mine is exhausted
when all of its has been extracted; which re.
minds me Of experience had when | bonded
mine lot of keen fellows few years ago
You state that You connection between
Your braying and the fact that | let myself be
robbed in a mining deal; and there is none
cepting that feared that you would exhaust your
wind ballast. which fear recalled to my mind the
weak and exhausted condition of my mine after
the bonders had taken a fortune from it while |
was holding the sack under the supposon and
belief that the snipe' would soon be rushing into
il in focks. Now, this is not a fish story. or a
narrative connected with hunting for birds but
just a recital of how | swndled on bond
deal when | thought | had everything fixed up
in good and legal form. with the exception that I
to nice wad of 100000 at the expiration
of Two years; and, so that you may know. I will
relate my experience to YOU
About twenty-five years ago continued the
prospector, Il discovered Iikey-looking prospect
out in the Merry-Go Round range 1t was a gold
proposition, true fssure in granite and the
groupings from three four feet wide. The
god-bearing, freemilling. and would range
n from m no I bor3
at the time, but I performed large amount of
development work, and had blocked out about
10000 tons Of ore when representative of a min
ing syndicate came along and offered 5000 geo
for the property on bond and option agreeing to
pay me 10 per cent Of the purchase price,
100000, upon the signing of the papers; 10 per
more within six months and the balance in
four more equal payments. six months apart The
proposition looked good to me; and, although I
knew the mine worth than that. ! also
knew that did not have the ready money to work
it it should be- and signed the papers and
received my little twenty thousand. In six months
! received the second payment and began to feel
like boated bondhoder. or the Tobacco trust
before the supreme court punctured it with
restraint of trade decision. But, | got my
puncture for. before the end of the year the bond
relinquished and the deal declared off. | was
thunderstruck. and could understand the stu
atlOn. Tor the Syndcate mad been shipping heavily
throughout the year. and seemed to be doing we'll
| discovered the reason, however, when I went
the mine, for then found that the parties hold
ing the bond had taken out s250O00 in during
the period they had been operating. They had
taken the | had blocked out, for which
they had paid $4,000. They had Quilted the
mine, and had never performed foot of develop
work. Not pound Of left in sight,
and, in that condition could not get 80 for
it from prospective buyer. | had been fall
guy and had enriched the sharks l had been deal
ing with to the of 100000 for the small pit
of 100000; had rolled my crust and allow
ed cOrere of bright and brainy fellows to get
away with the greater portion of the pie And it
all legally done In the bond and option
| had made provision that prospecting work
should be carried ahead of extraction, and it
required that a certain amount of dead work
should be performed monthly. was inexperienced
in the matter of bonds and leases, and virtually
opened full purse and invited gang of sharpers
take nearly all had; and they took it. and took
it quick. know what I should have done. In