The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1914-03-22
To SPEND 100000
IN DEVELOPMENT
Mining Man of Wallace,
Idaho, Buys Mine in
Washington.
WILL CONSTRUCT MILL
Republic Mines Property Sold
by Receiver Bailey for
$4,000.

SPOKANE, Wash, March 21.-For g
consideration Of $262, 600 the Republic
Mines corporation, owning rich mining
properties at Republic, Ferry county
Wash, has been sold to Robert A. Ster
ling of Wallace, Idaho, who is sSid t.
represent q New York syndicate.
The sale was negotiated by the re
reiver, George S. Bailey Of Republic
manager of the Anaconda Gold Mining
& Reduction company, who was ap
pointed trustee with power 10 sell the
property by Sidney H. Wentworth, ref
cree in bankruptcy.
Within sixty days the first payment
Of $4,000 Will be made. This money
will in turn he paid to the creditors
nearly all of whom will be satisfied III
rhc first payment, wbilo the remaining
ones will he taken care Of in tho sec.
ond payment of $4,000. which will be
made within six months.
IN follows: $4,000 within one year.
10000 within eighteen months and
the balance, $4,000, in two years.
viii Build Mill.
Mr.. Sterling announced that the com.
pany will install 2j0-ton mill at Re,
public on the site o. the properties and
that the development this year VIII
cost slightly more than 100000 Ac-
tive development will begin in April.
Immediately after checkers for Mr..
Sterling have satisfied themselves that
the figures Of the receiver are correct.
The Republic Mines corporation owns
and operates three patented gold min.
ing claims in the Eureka mining dis
,rict in Ferry county. The three mines
are the Lone Pine, Surprise and Pearl.
For the last three years and until they
were thrown into bankruptcy they were
operated by j. l.. Harper The corpo-
ration is said 10 have produced over
A2,000. 600 in gold and silver ia the last
two wears. Evidence Of the value of
rhc property = the fact that Harper
bonded il for 100000 less than a year
300.
Articles OF incorporation of the
United Mines company. a Spokane conf
pa ~, capitalized Tor 100000 shares,
Car 81, were prepared and signed this
week The concern is organized TO cake
,Vcr and operate claims near DrovIIle,
Wssh. consisting of the Owasco group,
ALREADY cquipred with a teu-stamp anal.
g2matine aud concentrating plant from
rhich shipments now are being made;
INC hplIf3 NNfFIDi thn o. TAI ElpuIS-
ard The Orc de Madrc group. which lies
nca, the crest of Kruger mountain,
about one aud half miles from the
railroad. said 10 be a promising gold
copper property. f. u. Rei,er of Spo-
kane. one Of the stockholders, said
Men now are completing the
Wagon road from the railway to
the properties and we anticipate
being able to ship from fifty to
100 tons daily soon, \ boiler ls
beiug moved TO the property to
operate The steam drills IN the
glory hole the deposit being
sufficiently extensive TO permit re-
moving the orc through open cuts;
j. /. Harper viii have charge of
the operations of the new company;
Associated with him are several
Spokane men. besides George !,
Uurley of Looms Mayor George
NJ Tripp OF Grand Forks. R- G..
aud number of hi, old employee.
Who went With him from Republic
IN ,bc OroVille field,