Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-01-27
| ! MILLIONS
IS ISENBERGS
NT tss4tt &
KILLING ).

Seven million dollars. for an 3, in
vestment of. SIPS, 900 inside of nine
months Is about as nifty a killing In
finance as has ever. been recorded !.
That is what Hon. Paul Isenberg OF
Honolulu and his associate, DIR. Rein
hold Hoppe of Oakland, California,
have landed in little flyer In Cana
dian coal lands. And Mr., 1seRbeTg,
with whatever side partners he may
have In Honolulu, Is owner Of three
fifths of the interests in the property
referred to, the sale Of which to an
English syndicate he is going over in
the Mongolia to censummate- -
1T was not !. for recreation that !
went to the. coast last year." said MIR.
Isenberg this afternoon, "but to look
into the prospects for investment in
Canadian coal lands.
: Meeting Dr. Hoppe In California.
sent him up there - investigate,
and on; his return he sent for me at
Los Angeles, where we talked the
matter over. / decided to come down
and consult with my friends about 1t,
and l. raised enough money to go
ahead with the preliminary work.
'S"Then; returned to the coast and
Dr., Hoppe went to Ottawa and had
the leases signed ovsF. in. my name.
The leases are for twenty-oHe years,
with an option of extension for an
other twenty-one years, at, an annual
rental of one dollar an acre and a
royalty of five cents a ton on the
coal. There are eleven claims OF 2560
acres each, making total of 2S,160
acres, and we have paid years
rental in advance amounting to $28,-
600 and odd. = =. -,
Il had no idea the business would
be settled UP in nine months, but
thought it would take three or four
years. Yes, We. did intend to. form
company, although personally I did
not want to 60. up there. The next
thing was to send a surveyor UP there
who reported that there was visible
one hundred and ten million 110,00V.-
0c0) tons of the finest quality of coal,
If which twenty million tons would be
steam shovel work.
LAS | have said, had no idea we
should close up the business so quick
~, but 1t seems English capitalists
knew all about it and have been fol-
lowing US.
"The lands are eighty miles from
a railroad track, but there will be no
trouble in getting in railroad. We
have the franchise for it and the line
will connect with two transcontinental
Canadian Northern and the
Grand Trunk Pacifie-at Hinton, about
200 miles from Edmonton"
And it will cost you, with preltm-
inaries, how much?" was asked.
Zone hundred and twenty-five thou
sand dollars"
And you get seven million dollars
for it,"
Yes. And you may say am the
happiest man alive"
According to a late coast paper
these lands were Chance discovery
and acquisition" to develop which II
was proposed to organize a company
with at least $50,O0O,0 900 capitalization,
the announcement having been made
by DR.. Hoppe, who is over seventy
years old and it was while on a visit
of recuperation to Canada that he was
informed of the vast deposits of coal
in the interior, through reports by In
dams and trappers. w. D. O'Brien OF
San Francisco was the engineer sent
out to make the survey, having with
lin a corps of twenty engineers, and
he was assisted by John McVicar of
who made the survey for
The connecting railroad.