Rogue River courier. (Grants Pass, Or.) 1886-1927, 1911-12-22
AN OFFICIAL OUTRAGE.

Official comes from Secretary o
State Olcott at Salem and is publish
ed in The Oregonian Of the 1871
inst. 1t is in reference to mining
companies In Oregon, subject which
the state officer In question should
one would naturally think, know
something about, but, astonishing az
II may appear, he attacks the AL.
media mine, one Of the largest prop,
critics in the state, a mine that, dur
Ing the month of November this year
produced from It's small smelter
three carloads Of matte which sold
for 1000, but here is the inter
view:
Declaring that It may be necessary
Tor Oregon to prescribe some such
measure as The Blue Sky Act as in
augurated In Kansas to protect the
public against fake concerns. Sec
retary OF State Olcott today called
attention to the fact that stock Of
an Oregon mining company which
failed In 1906 is still being offered
for sale In the east.
This office is receiving InquIr-
les from Ohio regarding the Almeda
Mining company, the stock of which,
IL seems, is being offered for sale In
the east, said Mr.. Olcott. This is
fair sample Of the inquiries re-
ceived regarding this class Of corpor-
ations. ] hope that the legislature
VIII pass some kind OF corporation
law that Will protect investors.
Under the Kansas laws, a cor
poration is required, before Offering
for sale In that state any stock,
bonds or securities, TO Ale with the
bank commissioner a statement in
complete detail, In the form prescrib-
ed by him, giving an itemlzed ex-
hibit OF It's financial condition, as
sets, liabilities, description OF prop
erty owned, the plan upon which II
proposes to do business, copy OF
It's charter bylaws, and of all con-
tracts that II proposes to make with
Its contributors.
The Kansas law may be sharp
medicine, but reports seem to indi-
cate that 1t has cured the disease for
which II was compounded.
Those who are personally acqualnt-
ed with the man, who by appoint
ment, fills the office of secretary of
state, Will not be astonished at his
ignorance, and yet one would think
that In an important matter like this
he would know enough not to talk
about a property of which he knows
nothing. In this the people are
again forclbly reminded of their
great loss In the death OF their sec
retary of state, the late Frank w.
Benson, who possessed general
knowledge Of all important matters
In the various counties Of the state.
Now, In regard to the Almeda
mine, let us say here that the Grants
Pass Commercial club had this mine
reported on by an expert several
months ago and published the same
In its official pamphlet as follows.
The Almeda Consolidated Mines
Company owns the Big Yank group
of quartz mining claims covering sew
eral hundred acres, which is equip
ped with compressors, air drills,
hoists, concentrators, rock crushers
and a smelter OF 100 tons capacity.
The company has been actively en-
gagged continuously during the last
ten years In developing this gigantic
mining proposition and II now has
either In sight or Immediately avail
able thirty million dollars worth OF
smelling ore, The big ledge where
the river cuts II In twain measures
$50 feet wide, thus proving II to be
one OF the largest mlneralized veins
OF quartz ever discovered in North
America. There Ia more than a mile
OF underground works on this ledge
and numerous cross cuts, drifts.
WINES and tunnels are stln being
driven to make available additional
tonnage for the smelter which was
recently blown In The ore carries
iron pyrites, copper sulphides and
galenn, Values 80 from s. to $50 in
gold and silver and from 2 to 10 per
cent In copper, Selected ores so as
high as $50 per ton In the three met
ais represented in the assays One
remarkable feature OF the ore Is that