The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-04-17
CAPITAL IS IN
At P0RCUP|N P|NE
English and African Interests
Have Taken Gold Camp
Very Seriously.
SOME OWNERS ARE
FAMOUS WORLDWIDE
Camp Assumes Big Proper
tiOns, Although 1t Is Young
ster Among Discoveries.

The following brief yet comprehensive
statement Of the Porcupine district min
ing conditions will be appreciated. Issued
by a wel-known New York firm:
The Porcuplne camp, which is located
$50 miles north OF the Cobalt district and
AS miles north of Toronto. is more than
one year old. II has therefore passed
through its discovery stage, but is still
In what might be designated a boom
or prospect state of development.
The advance In the market valuation
of the stock Of the Holinger company
OF this district from $3.50. the subscrip-
months, is q rather conclusive indication
that the 'tboom' is of rather formidable
proportions The further fact that most
OF the poney paid for these properties
has come from English and Scottish
mining people OF established reputation
gives the district immediate claim for
it is more than Scratched surface
camp"
Big Sums Change Hands.
The Timmins syndicate, including the
McMnrtin and Dunlap interests. were
the first to make an actual expenditure
holdings amounting to $50. 900 Ambrose
Mouel president OF the International
Nickel corporation, the holding company
OF the Canadian Copper company. was the
development work amounted to S5O0O0.
The Crown Chartered people followed,
With the advent OF the famous Macarthur
Forest syndicate Of Glasgow: Scotland;
however. the camp Immediately assumed
an importance that naturally made II
known TO Europe. From this time on
ignated as European capital has been
responsible for the new values created
all through the present accepted mineral
lied section. Afterward followed the no
In "a nll-En ElirnnaQn NJ
pany, the Consolidated Goidfields OF South
Africa. The participation OF Bewiek.
Moreing Co. of London, the oldest min
ing firm In the world. and In virtual
control of the South Africa and Australia
gold fields. marks, we think, the greatest
event so far In the history OF the camp.
the firm, went TO Porcuplne and after
most careful investigation his firm made
two important commitments, one amount
ing to 50 900. 900 for the purchase OF
claims and the further defined policy of
his company tn Immediately expend $1,000,
600 for development work. Significance
must also be attached TO the fact that
Mr.. Moreing went into what was not SO
well known a part OF the Porcupine dis
trct. Deloro township. and his purchases
here Included the Timmins and surround
ing claims and extending to the Powell
syndicate claims directly east. II is
rather difficult TO secure information or
reports from these European firms and
the Consolidated Goldfeids. Scottish
Ontario and Rea companies. controlled by
these interests. are not Offering any stock
for public subscription. The Consolidated
Goldfields company is increasing It's pres
ent capitalization to take care of its
new holdings. This. of course, Is pri-
vate matter OF the stockholders.
Development Done.
The HollinRcr company has performed
the greatest amount OF development work
so far and the best criterion OF values.
ms regards Its own particular section OF
the district, can he readily determined.
The shafts are down 225 feet and the
company claims ore values of sl2 900. 900.
Phs Dome is a second position as re-
CARDS development work, but we have
been unable SO far to secure the present
depth of the shafts, The company state-
that drill holes have proved values 10 a
depth OF 400 feet. The Dome people OF
Its friends make n claim OF ore values Of
100000 900. This company, Is controlled by
the Canadian Gopher company people. No
stock Is offered for sale.
A great part NJ the ore history Of the
camp will be written within the next two
or three months when the season opens
and the present companIes are allowed to
proceed with development work under
more favorable circumstances. The rela-
tive superiority OF the various sections OF
the camp will also be demonstrated
was the Tsdale and then the whitney
EectIons but the latest purchase Of the
BE ewck- -Morcing people In the heart OF
the Deoro township must enrite that
section TO the most careful attention bv
the investor VINO is eager TO take imme
diate advantage of situations OF this
character