Elk City mining news., January 23, 1904, Image 1

About Elk City mining news. (Elk City, Idaho) 1903-1913

Image provided by: Idaho State Historical Society

                
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Vol. No. 4
Eik City, Idaho, January 23, 1904
$2.oo The Year
That Averages Avove $3000 In Gold Per Ton—Such Statement
Made by the Imperial Corona Gold Mining Co.— They
Will Have to Show the Mining News.
Prospectus' were received this week of the "Imperial Coro
na Gold Mining Company, of 68 Wall street, New York, incorpo
rated under the laws of Arizona, operating properties in the Elk
City mining district, state of Idaho, capital stock $5,000,000.
A mere glance at the statements made by the above pro
moters will convince anyone who has the least knowledge of mining
that this is one of the most glaring misrepresentations and frauds
tha,t was attempted for a long time. That the promoters have lain
themselves open for criminal prosecution there is no doubt, and the
Mining News will camp on their trail until they get their just des
serts, Let the chips fall where they may, such gross swindling
must be stopped in this district and the sooner these baseless mor
tals know it the better. They are on a level with a common hold
up, and even should they escape before the bar of justice, public
opinion will hound them to theip end. The eastern investing pub
lic is unceremoniously fleeced by these sharks and the western
miner gets the blame. The gulled easterner then reasons that
when a property carrying values or thousands of dollars per ton
makes a failure what can a property amount to for whom the pro
moters represent as carrying values of but a few dollars per ton?
^And the man who is making an honest effort to raise a few dollars
for a legitimate proposition gets nothing but a cold reception.
The claims made by the Imperial Corona company are so ex
agerated that it would seem impossible to find a person to take any
stock in them, but there are scores of easterners who have the im
pression that gold runs in streams in these western hills, and it
seams to be beyond their comprehension that if a property had mil
lions of dollars of gold in sight the owners would not need be chas
ing around through the east trying to dispose of a few shares of
Stock for a mere song "for development purposes,
hundreds of men right here in the west who would be willing to
pick up any such snaps. But it is an American spirit to get some
thing for nothing and hence "the pucker and his dough are soon
parted.
when such money is invested in a legitimate way good returns are
received from it.
One of the statements made by the Imperial Corona company
js that "it owns 160 acres of quartz that averages above $3000 a
By the great Horn Spoons, little did we dream that such
fabulous riches had lain so long at our door—such as would make
King Solomon's mines in their palmiest days look like a stack of
six nickels. Heretofore our prospectors have considered ore assay
ing from $2 to $10 a ton a mighty good prospect and in considera
ble less than 160 acre lots at that too. "In five months this stock
will be on a dividend paying basis, after completing a short forty
foot tunnel and erecting a stamp mill,
ment work, the net profits should exceed $800,000.
with a showing like that, "The proceeds of the stock offered to
you for sale will flow into the treasury of the company for further
development of the property,
uphill work flowing out.
We wish to treat everyone fairly so will say to the promoters
of the Imperial Corona company that at any time they furnish us
with conclusive proof of their representation, we will gladly retract
anything we have said concerning them.
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There are
We need eastern money to develop our resources and
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"With ordinary develop
It ought to
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It may flow in but it will find it
New Work on Diamond Joe
The Diamond Joe Mining & Milling
Co., this week let a contract to C. H.
Natwick to do 265 feet of work on their
property on Red Horse creek. The
work will consist of 130 foot of tunnel,
a raise of 85 feet and 50 feet of shaft,
A tunnel has already been run in along
one of the ledges for a distance of 130
feet and the vein crosscut at short in
tervals and shows six feet of ore carry
ing good values. This tunnel will be
extended another 130 feet and then a
raise made to the surface, a distance of
86 feet. The 60 foot shaft will be sunk
at the mouth of the tunnel and will be
, 6x8 in the clear and is intended for the
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Henry Foulks, a Former Resident, of
Elk, Thrown from a Horse.
SERIOUSLY HURT
A report reached Mountain Plouse
Wednesday night that Henry Foulks
was thrown fro ni a horse and very ser
iously hurt. From what was Jeamed
by the meager news received hi» in
juries consisted of a fractured skull and
one eye knocked out. He is well known
here, having at one time been in the
hotel business and later running a stop
ping place at the Dredge, in partnership
with George Tinker. Last December
' he and Mr. Tinker bought the Switch
back station on the Stites-Elk City road
-jvhere the occident occurred.
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permanent working shaft. The plans
of the company as now outlined is, at
the completion of the present contract,
to put in a hoist at the shaft and con
tinue it on down, besides doing consid
erable more tunnelling. A mill is also
contemplated the coming summer,
surface showing and wherever opened
up at depth the veins remain uniform
in size and values. The property was
only located last August and was short
ly afterwards bonded to John Olson,
who immediately put a force of miners
to work apd activity only ceased with
! the letting of the present contract.
The Diamond Joe has an excellent
HUMP MINE CLOSED
Forest Reserve Red Tape Reported to
be the Cause.
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j er where claims are removed or separ
ated and as the Lucky Lad people failed
to do this and had no timber of their
own, it is supposed to be the reason for
closing their mine. The underground
workings have shown large bodies of
ore with good values,
The Buffalo Hump correspondent of
the Lewiston Tribune says: •
''On the 31st of December the Lucky
Lad closed down until spring. The
forest reserve rules require a permit to
remove timber from one claim to anoth
INFORMATION WANTED.
Inquiries have been received at this
office concerning the Rim Rock Gold
Mining Co., C. P, Smith, manager.
Names of parties giving information
will be held strictly confidential.
Bullion from Lhe American Eagle
The American Eagle mine made its
regular semi-monthly shipment of gold
bullion to the United States assay of
fice at Helena, Mont., this week.
The amount of the brick was not
learned.
COLUMBIA CABIN BURNS.
Workmen Lose CloLhes and Blankets.
No Work Until Spring.
Last Monday morning at ten o'clock
the Columbia cabin, ning miles from
Elk City on Red Horse creek, was to
tally destroyed by fire. When Harry
Cain and Ed Ervin, who were working
there, and Andrew Prader, the mana
ger, went up to the tunnel, about 100
feet from the house at 7 o'clock, they
closed the stove up and put three sticks
of powder near it to thaw. About ten
o'clock they heard an explosion but
thought it was blasting at the Sunflower
camp just above them, but on going out
soon after discovered that the cabin
was a mass of flames. Some giant
caps and rifle cartridges were explod
ing in the burning house so the boys
did not dare go near for awhile. The
roof soon caved in and smothered the
flames somewhat and were then extin
guished, so the boys thought. They
then came into town. But the flames
took life again and burned the cabin
flat to the ground. Harry Cain is the
heaviest loser, all his clothes, except
what he had on, blankets and a new
30-30 rifle going up with the flames. He
also had $105 in gold and silver in his
coat pocket but that was recovered af
ter the roof caved in. Ed Ervin lost
clothes and blankets. Mr. Prader is
loser the cabin, cook stove and cooking
utensils. This is a very unfortunate
occurence as on account of the deep
snow it will be impossible to erect new
quarters, thus necessitating a cessation
of work until spring.
PLEASED WITH THE CAMP.
Jacob Schaefer's First Impression of the
People and District.
Jacob Schaefor, vice president of the
Diamond Joe Mining & Milling Co.,
who was in here looking at the prop
erty last week, was thusly impressed
with his first visit to the country: "I
like the people of Elk City and the boys
on the outside very much and I have
found them to be an open and free
hearted class of men that any commun
ity may well be proud of. As to the
mines, I believe that they will come to
the front in the course of time and will
rank among the best on the American
continent, but in the meantime all those
prospects , which, by the way, show
fine on the surface, must be developed
before men with large means will come
in and take hold of them, and as soon
as that is done the permanency of the
the camp is established."
FROM NEW YORK
Nicholas Jerry Arrived Wednesday
and Tells of Imperial Corona Co.
Nicholas Jerry, who sold the Atlas
group of claims to New York people
and upon which the Imperial Corona
company was organized, arrived Wedn
asday from New York. In talking with
a Mining News man in reference to the
circulars P. C. Kullman & Co., of Wall
street, are Sending out describing the
property of the Imperial Corona Co.,
Mr. Jerry said that Kqllman & Co,, se
cured an interest in the company by
misrepresentation and were sending out
those circulars against his wishes and,of
other members of the company, and
are selling their own private stock and
exaggerated and unreasonable claims
made by Kullman & Co., and imme
diately telegraphed back to New York
his resignation as manager, Mr. Jerry
will leave this morning for Post Polls,
Idaho, Ivhere he will spend some time,
not treasury stock as they represent.
Mr. Jerry also said that he did not see
any of the circulars until he reached
Stites and was dumb-founded at the
m ELK GOLD M. & M. CO.
N. S. Potter, of Jackson, Mich., and J, A. McEachran, of Spo
kane, Are Here Testing the Ores of the Property.—Fu
ture Work will Depend on Result,
N. S. Potter, of Jackson, Mich., and J. A, McEachran, of
Spokane, are here testing the ores of the eight claims owned by
the Elk Gold Mining and Milling company, a corporation controlled
by McEachran Bros, and James Slavin, of Spokane, and capitalists
of Jackson, Mich., represented by Mr. Potter. On seven of these
cliams there are quartz veins varying from three to eight feet in
width and are explored by 300 feet of tunnels, shafts, crosscuts
and drifts, showing values from $2 to $40 per ton. The other claim
is an immense dike or vein, similar to the Hogan, Le Roi, Cham
pion, Ben Hur and others. In many places the surface erosion
pans rich in free gold, while the auriferous mass assays froA $1 to
$4 per ton. In addition to continuing development on the quartz
leads the company are arranging to extensively prospect this dike
and if tests prove satisfactory the installation of a mill on this
property during the coming season is assured,
He Thinks Well of the Jumbo Mine.
John Olson, manager of the Diamond Joe property, spent the
greater part of the week in town. Mr. Olson is a miner of long
experience and knows whereof he speaks. In conversation with a
Mining News reporter he was asked what he thought of the Jum
bo mine at Buffalo Hump, and he replied:
"I went to the Hump just about a year ago to investigate
the Jumbo for a friend of mine who wanted to invest some money.
I looked over the mine for a few days and when I saw how
the work was conducted and the values there was in sight, I went
back to Lewiston and told my friend to put in all the money he
could spare. The stock was worth at that time about 20 cents,
which I considered as being a very low price in comparison with
the value of the ore in sight. I met my friend last summer and
fall and he felt very happy over the success of his investment.
Are you acquainted with Frank Brown?" was asked Mr.
Olson. "0, yes," he replied, "I knew Frank Brown since 1892,
when we both were working around the mines of Central City,
Colorado. There is a great deal said of Mr. Brown in regard to his
ability, but in my judgement too much couid not be said of his
perience and ability. There is something else I wish to say and
that is, the Buffalo Hump and Elk City districts should work hand
in hand and to each others advantage. We will soon have a tele
phone line from hei'e to the Hump so we can communicate with
each other at any time, and in my judgement the Mining News
should work for both places."
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liTe Imperial Corona's Modest, Letter
New York, Jan. 6, 1904.
Owing to the success we have al
ready made with the stocks of various
Idaho companies, which are now on a
shipping and permanent dividend pay-1
ing basis, we now offer for private sub
scription a limited number of shares of
the capital stock of the Imperial Coro
Mr.
Dear Sir:
na Gold Mining Co., at its first selling
price of only 10 cents per share, par
value $1.00, fully paid and non-assess
able.
We are proud to say that we already
enjoy the confidence of thousands of
stockholders in Idaho mines, all over
the country, who bought our stocks,
and here we present a ''Gold Mining"
proposition, for private subscription,
that offers even greater opportunities,
than any gold mining stock in Califor
nia or Colorado, because the gold ore on
our property is entirely free milling.
,, . , . , .... .,
the nche9t free millmg gold Quartz
ledges in the famous Elk City Mining
This company operates 160 acres of
j District of the State of Idaho, which is
' already looked upon as the coming gold
j
ant ^ surrounded by rich and produc
j ing mines, and is only two miles distant
j from Elk City.
producing region of the U. S.
The property is located in the midst
experience in this line than any gold
miner we know of.
The proceeds of the stock offered to
yöü for sale will flow into the treasury
of the company for further develop
■ meut on the property,
We have associated with us a mining
man who has Jjeen more than 40 years
1 in the various gold fields of this and
other countries, and who has a larger
Since the average assays made of the
ore run above $3000 per ton ''in gold"
and since it will cost us only $1.50 per
ton for mining and milling the profits
will be enormous. With ordinary de
velopment work, the net profits should
exceed $800,000 per year,
pectus. )
We can safely expect and can prom
ise our clients, whose confidence we al
ready enjoy, and others who wish to
invest with us, that this stock will be
(See pros
on a permanent dividend paying basis
within about 5 months, after complet
ing the short forty foot tunnel and
erecting the stamp mill, and that it
should take no longer than seven
months until the value of the stock
shall have advanced to $1.00 per share,
its par value.
The title is clear. There is no bond
ed indebtedness. The gold ore is the
richest in the district. The property
has many natural advantages and we
are confident that with the sale of this
,. ... , , ,
cess than we did make with any of the
dividend paying stocks handled by us
stock we will make a still greater suc
in the past. (See dividend list of Gold
Mining Companies. )
Hoping to receive your subscription
for some of this treasury stock in the
Imperial Corona Gold Mining Co., at
its first price (10 cénts per share,) of
fered for private subscription, we re
main, yours very triily.
Imperial Corona Gold Mining Co.,
By P. C. Kullman & Co.,
Sole Fiscal Agents,
P. S. — Owing to the unusual rich
values of our Gold Ore, the company
will only mail Samples (showing visible
free gold,) to subscribers for
shares of treasury stock, ($100.00;)
! mote.
,
1000
or