Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-03-14
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"SALTING" A GOLD NINE.
Negro Chewed Tobacco and Result
Fooled Shrewd Experts.

How w. $. Cook. Maine man, now
III The Maine Penitentiary, came To
North Carolina, "salted" a gold mine
and took in such shrewd investors as
the Guggenheims and the late Senator
Sawyer has only now come to light.
Thirty miles northeast of Raleigh is
q gold mine known as the White
House" Ten years ago Cook heard of
this property, took an option on it anG
the go acres Of land and later bought
it. The first thing he did was to inter-
est the late Senator sawyer, of Colora
de. and one of the Guggenheims He
invited them to send experts to inves-
tigate the White House"
In that section gold can be ''panned"
in the streams, and mining in this
fashion is very simple, There is a gold
vein through that region, AND in. the
adjoining county of Nash is the "Por-
it's gold mine, which has been worked
fer a long time, and for three quarters
of century was a good producer.
Cook sailed the ground in a novel
way. He hired q negro named Burke,
provided him with plenty of chewing
tobacco and also with gold dust. Wher-
ever the experts went Burke went, and
he literally spat gold. He enriched the
earth to such an extent that the pay
dirt was satisfactory to the experts.
and on their report the principals took
part in the formation of the Gold Bond
Dredging Company. of Arizona, to de-
velep the property. Cook and some of
his associates were put in charge,
bonds were f1oated to the amount of
$150,0Oo modern machinery was pur-
chased and many of the stockholders
came down to North Carolina to see
the mine. Burke in the meantime talked
necessarily. Dragged about the rich
ness of the mine and limited at even
greater things
Cook made no attempt to interest
North Carolinans in his project. West
ern people were his principal victims,
but some were from New England.
However, Guggenheim must have be-
come suspicious. for he sold his stock,
as did few others.
Cook got about $4,000 for promoting
the enterprise. He was known as a
high roller" in two counties, and
champagne flowed where before it had
been almost unknown.
They got some gold from the mines,
but not much. Stock to the amount OF
900 was disposed Of, and the pro-
ceeds We're largely spent for pleasure.
A clubhouse was built, carriages We're
kept. servants were plentiful, but no
debts We're paid and creditors came in.
A suit was brought by the Atlantic
Equipment Company for machinery
furnished and a judgment was obtain
ed for 81 1000 due it.
A number OF the smaller StockholG-
ers, hoping to- save at least a part of
their money, organized the North Car
DINA Dredging Company and prepared
to purchase the property. Thomas W.
Beckett, the present Attorney General
was appointed receiver, and he sold tho
property to the dredging company for
1,7J0. This company's authorized cap
ital stock was $4,000 the stockholders
being New England, New York and far
Western men. Another sale was soon
suggested by the owners 10 some Phil
adelphia capitalist who had been inter
ested. These employed Durham law
yer who found that Cook and his as
sociates had mortgaged the property
for $4,000 before the dredging COM
pany bought it. So the Philadelphia.
men backed out. q
The whole fraud has been exposed
by suit before the state Supreme
Court. This Court finds that the mort
gage for S150,000 made by Cook and his
associates was fraudulent, and two COM
missioners have been appointed to sell
the property in February. They also
have been instructed to notify the
Sheriff of Franklin to enter two vaults
in the principal banks in Franklin
County which had been leased by Cook
and which have not been opened in
over six years.
After his departure from North Car
olina Cook went back to his old home
in Maine and there launched other
schemes, was prosecuted and convicted
and is now serving a sentence in the
State Prison.-Raleigh IN. CO Cor.
New York World.