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DAILY EAST OREGQNIAX, PENDLETON, OIIEGON. SATURDAY, FEBRUARY 22, 1008. FOURTEEN' PAGES. Tho IPorH&iid-IFIorgnee fining -and immm immmm g u y Main Office: Room 15, 268 Stark Slreel, Portland, Oregon Owning 1 00 Acres in the heart of the Goldfield, Nevada, District, and a fully-equipped Lease on the wonderful Florence Mine, offer for subscription 250,000 shares of Treasury Stock at 1 0 cents per share O e o 4 O S o a. o : r r . . I If,ii7..,.l lL.iw......l I . I i JUMB0 1 CO. . -rzzr Step 3 COHBlHtSIC 1 '4 12 - HAP SHOWING I BONANZA LEASES c at rr 9 Goldfield Mining district. Mvada. iu 4 3 1 j J? 'It Ill 2 o (D J 1 CD O o Our Lease The map above shows the ex act location of the Portland-Florence Mining and Leasing Company's lease on the Florence mine. The lease is equipped with a 25- horse power electric hoist and all necessary machinery and tools for operating the property. The shaft has been sunk to a depth of 260 feet and Is as favorably located as any of the big producing leases, There are three veins crossing this block of ground and a few months of systematic work should develop an ore chute equal to the best In the dis trict. This ground has not been prospected and there Is no reason why before the summer Is over the Portland-Florence Mining and Leasing Company should not be included amongst the bonanza producers of this most wonderful camp. Three out of every four leases on this map have been big dividend pay ers. The value of these pay chutes vary from $100 per ton up Into the thousands. Now take for Illustration, should we only find our pay chutes carry $100 values and we were tak ing out the low amount of fifty .tons dally, we would have, after paying our royalty and all the expenses of mining, freight and smelting, a net profit of $2000 per day. But let us take an average valuation of $500 per ton with a production of 50 tons per day and what is the result? Just $10,000 per day. Now you can un derstand why In Goldfield they talk of millions only. We don't guarantee anything, but we do say that we are In this busi ness to make money out of the prs uuctlon of ore and not by Btock Job bing in any way, and furthermore, our chances are better than three out of four of making good on the lease and we still have our 100 acres of ground splendidly located and right In the midst of good paying mines. We Invite you to Join with us In this enterpr se, remember a strike on this lease means quick returns and immense profits. During the year 1907, Goldfield miners and leasers paid out $6,616, 874.40 In dividends; of this amount $1,359,&74.40 must be credited to the parent companies and $3,257,000 tame direct from the leasers treas Urleg. This will probably be the last op. portunlty that will be offered to get an Interest in a lease on the celebrat ed Florence mine, the president of which informed our Mr. fitewart at Goldfield last month that under no circumstances would their company let another leas Their Immense mill and reduction plant being about completed they will be In a position to handle the whole production of their property. The Portland-Florence Mining and Leasing Company Is organized under the laws of Oregon for $100,000. One mil lion shares, par value, 10 cents. The stock is fully paid and non-assessable. There is no promotion or preferred stock. Everybody gets the same treatment. Xo director gets stock without paying for it, or a salary for his services. We are not taking two-thirds of the stock and asking you to pay for the development of the property. We are putting in our money and taking tie same chance as you. The financial stringency enabled us to get hold of these properties cheap $1000.00 cash and 300,000 shares of stock in the company, which leaves 700, 000 shares in the treasury. We believe this is the farest and pquarest proposition ever offered to the public. The money will be used as economically as possible in the development of the lease and mine. Our books will always be open to the stockholders. Who the Officers of the Company Are W. B. Stewart, President and Manager, is a Mining Engineer of 20 years' experience, a resident of Portland and a capable mine manager. W. A. Moses, of Kansas City, Mo., is Vice- OUR ORGANIZATION President. He is a member of the Moses Bros. Grain Co., one of the largest grain dealers in the Middle West. F. W. Mc Kechnie, Secretary and Treasurer, resides in Portland, where he is well known and is manager of the East Side Postal Tele graph office. R. G. Virtue, Superintendent, formerly mined in Eastern and Southern Oregon, now resides in Goldfield and will assist in lookingafter tho company's interests at that place. Alex. Sweek, of Long & Sweek, Attorneys, Portland, is our Chief Counsel. Wo are offering for subscription 250.000 Shares of Treasury Stock at lOcts per Share which can be paid for on the installment plan, on the following terms and conditions : 500 SHARES, S5.00 DOWN AND $3.00 PER MONTH. 1,000 SHARKS, $10.00 DOWN AND $10.00 PER MONTH. Larger amounts in like rutio. Xot less than 500 shares sold on installments. A discount of 5 per cent will bo allowed for cash. Any further information will be cheerfully given. Ad dress all communications and make all drafts, chocks or post office orders payable to The Portland-Florence Mining and Leasing Company Portland, Oregon ROOM 15, 288 STARK STREET (PHONE MAIN 5489) Opposite Chamber of Commerc Rnl Ml n sr. Interesting Items From Recent Goldfield Papers ROGERS-SYNDICATE IN HIGH GRADE ORE Both the president and secretary of th's company hold stock In the Goldfield Florence Co. and conse quently have a double Interest In making a financial success of our Portland company. Assays Run From $200 to $300 Per Ton Sloping Is In Progress From the 400-Foot Level and the Sliaft Is Being Sent Down to the 500-Foot Point. Stoping is in progress from the 400-foot level of the Rogers-Syndicate, one of the promising leases on the Florence. This stope has been advanced thirty feet and the richest ore body yet found in the block is being broken down. Average samples across three feet run from $200 to $300 to the ton. All of this rock is being sent to the samplers. SHIPPING FROM SANDSTORM. The Parkison and Erbcl lease on block 5 of tho Sandstorm is sacking ore at the rate of CO to 80 sacks a day that runs about $200 per ton. The incline shaft is down about 35 feet and the company is working on the hanging wall which has been followed for 18 feet. The Sandstorm M. & L. company has the shaft down 90 feet and is now sinking a winzo from tho east drift. Two hundred feet of drifting has been done on the 100-foot level, and the company expects to resume sinking about the first of December, and will further prospect tho ground at tho 150-foot level. A 3-foot lodge has been opened up that gives good pan nings. One shift of four men is at work. LEASE ON THE KENDALL. A strike of more than ordinary importance has been made in the northern end of tho district. It is the original Kendall workings, where a lease was recently obtained by Leo Garrett and Guy Prior. They are sacking ore some of which will run to cut down the controls to a couple of hundred dollars a ton by .... h,rh ofl Stmnn fr,n Tho finr wns made on the 50-foot the admixture or lower graae rock. Nature is aiding mm m this par level. One of tho assays ran as high as $3300. value. Ono carload of 38 tons averaged $716 a ton, tho total value being more than $27,000. Returns on two cars contain ing 70 tons, received Thursday, showed tho average value to bo $340 a ton, or $23,800 for tho lot. The oro shipped during the last week runs over $300 a ton. The Little Florence has shipped 5300 tons of ore, having a gross value of $1,250,000. Manager George Vickers believes the lease will produce at least as much more ore during the re mainder of its life, and probably a much greater amount HANDSOME FIND IN GEM LEASE. Ore of shipping grade encountered. Ono of the properties that does not close down on account of tho labor troubles is tho Gem Florence Leasing company's workings on the Florence a block that was formerly known ns the Watson lease. Five assays were taken Wednesday. They ran $2.00, $1.(50, $243.20, $29.00 and $74.00. While this is not the ex pected ledge, it is stuff that will not go to-tho waste dump, especially the formation that yielded tho last three assays. The Gem Florence was purchased from tho former lessees by Senator Smith, who paid, it is said, $10,000 bonus and se cured an extension, as tho leaso was about to expire. Senator Smith placed his fellow shareholders of the Annex in this proposition also. i FLORENCE ANNEX TOO RICH FOR I'SE. It seems almost unbelievable that ore should be so rich that it would be difficult to market It but such Is the case with the Flor ence Annex product, the second grado of which runs $800 to the ton. Arrangements have been made by Manager Jones of the property Our Five Claims MARVELOUS PRODUCTION OF THE LITTLE FLOR ENCE MINE.' The Little Florence will declare its fourth dividend of ten cents a share early next week and the indications are that from now on until the lease expires the dividends will come along at frequent intervals. The lease is now shipping between 350 and 500 tons of high grade a week and will soon bo producing the enormous tonnage of 350 tons and possibly 500 tons daily. Tho last two lots, on which returns have been received ran high in tlcular as the new workings show that the high grade has depre ciated In value until It Is worth only about J 500 to the ton, sort of waste, so to speak. But while the values have lowered, the vein has widened at a remarkable angle and the indications now are that a greater production than ever Is In store for the next few days. LITTLE FIjORENCE SHIPPING AT RATE OF $200,000 WEEKLY. High grade ore from the 2,200-tons dump of the Little Florence lease Is being loaded for consignment to the American Smelting and refining company's Globe smelter at Denver, which pays part cash and the balance In 6$ days. The dump Is roughly valued at a half million dollars and It will require about 55 cars to transport. Steady shipments will go forward at the rate of about $200,000 a week and and the balance In 60 days. Tho run from the date of underground resumption of work, will add at least another million dollars to Its prize record. Our five claims of 100 acres He on the Golden Circle about half way be tween Goldfield and Dlamondfleld. With on exception the big produc ers, as discovered so far, all He on this lone which extends In a half cir cle for a distance of about five miles. The surface has barely been scratch ed In the Goldfield district and It Is safe to say that the productive area will be greatly extended and large bodies of milling ore will be found outside of the highly enriched zone. Our claims are located on this rich zone of fissures and while very little development work has been done the surface Indications are Just as good a? the average of the GoMflol.l mines. To the south and west are the Ken dal. Emperor, Jupiter and Sand storm. On the Sandstorm was dis covered the first hlich Krade ore found In tho district from which Lof tus and Davis, leasers, took over a quarter of a million dollars. Anoth er recent strike has been made of ore running from $800 to $8000 per ton. To the east are the Daisy, Great Bend, Diamondflcld, Black Butte and other producers. The first leasers on the Black Butte shipped over $750. 000 In high-grade ore and the mine has been a steady producer ever since. There have been many other rich mining camps discovered but noth ing In the history of the world to compare with the wonderful Gold flold, where veins carrying ore run- nlnir In ialtiA. i ... iiuiii nuuureus to thousands of dollars has been found, not In stringers a few Inches wide, but many feet In width. The production of the camp to date has been over $20,000,000 and the last few months of 1907 the pro duction was over two million dollars per month and In the near futuro the output will be close to $40,000,000 a year. . Now Is the time to get In while times are hard and stocks are cheap. Goldfield has paid more dividends since Its discovery than any mining camp In the history of the world In a like period of time. Less than four years ago the Jum bo went begging for forty dollars; has since produced millions. Lockhart paid $7000 for a half In terest In the Florence, today consid ered tho richest single gold mine In the world, with $15,000,000 In sight above the 400 foot level. The Portland-Florence claims has Just as fair a chance to make good as any of the Goldfield mines had four years ago.