The Penn's Grove record., 1911-02-17
Robert T. Seagrave
Addresses Another Letter To His
Friends and the Public
10 My FRIENDS AND INvEsrINe PUBLIC:

10 My FRIENDS AND INvEsrINe PUBLIC:
1 desire to address another letter to those who should b. interested in mining
and acquant them with the situation in regard to the Mzpah Consolidated Copper
and Gold Mining Companys affairs Since my last letter much has been done to
advance the interests of the Company and its stockholders. While visiting the
property at Mzpah, last summer,I was impressed with the possibilities of this
camp. The tunnel which the company is digging will cut a mineralzed zone fully
200 feet wide, and many large bodies of commercial ore will be opened up. | noted
the fact that the MMpah Consolidated owned only about onehaf of the great
intrusion, or mother lode, and that the other hafof the same was owned by a
syndicate living in he various mining camps adjacent to MHpah. 1t was apparent
that the tunnel which is heirg run would Tot only open up large oreb bodies of the
Mizpah Consolidated, but that it would as well prove up the ore bodies Of this
adjacent territory. at omce aduced With my associate Directors in tn company
and explained to them the importance of securing this additional ground, comprising
about 12O acres, and adding it to the companys holdings Negotiations we're opened
up with the result that in November, Of last year, title passed for this valuable
property to the Mipah Consolidated.
Our Manager has recently returned from a visit to the property and brough
back with him a large sack OF oe which he obtanned frm shats ant other workings
IN this recently acquired ground. This IRE is 10Y at my home and is open for the
inspection of our stockholders and friends. 1t is all high grade and of. similar
character to he ore bodies winch we had opened VI on our iormer dhgs sam
plies taken show essay values running over $1,000 per ton in gold, silver, and copper
There is one fact which wish to emphasize particularly at this time Copper
mines are usually dependent upon transportation ao melmg @cH'eS n"ny
properties of known wortha are kept from a dividend basis because they lack these
facilities Neither ofthese features disturb us as we are within a reasonable hu o.
threesm eters ant MY i've miles ron a ahoao We uperh'ehoen' +" "m n 10
one of III Directors and Officers and a large stakeholder in our company. de has
promised me, personally, to build a spur from their railroad to or property when
we are ready to ship a car load of fifty tons perd day.
A letter just received from or contractor, John +. Crow, advises ust that he had
foot ledge which assayed SLoom god. Nhieu ms cure may eH II" II 10 s"s
satisfactory to u.s., because this was only a feeder to our main ore body when" We
will tut a little later III.
We have ample funds in hand to drive the tunnel 700 feet, where W expect 70
strike or commercial ore bodies. 1t is necessary Tor us to have further funds to
drift and upraise OH the ore bodies, when we reach them, preparatory to shipments
also to construct an ore bin and put III road is shape for heavy hauling.
The presentse selling price Of ur stock is SOC per share and the Boardo OF Directors
W. strike eommerdal pre- " e wl have sufficient funds To- development M ol''uena
purposes without selling any more stock. Iadvise such persons who arein apod-
With some it may not be convemen to pay Tor cash Tor uers hares ao 70 sue :
advise that they write m as follows: "PleMe reserve for me--s shares o the
Nipah Consolidated Copper and Gold mining Company, which l agree to pay fol
as olows:--." In the blank spaces you may indicate the Oh shares
you wish and when you will pay for them, making it one two, three -four or he
months from date, if necessary.
selling price when We reach commercial ore and state without reservation that it is
only a question of time and money when or company will be a large shipper and
sb sequenuy a regular dividend payer
Respectfully,
ROBERT T. sEAGRAvE, Wce-President,
2-17-1t Salem, \. J..