Volume 08 (1864) (474 pages)

132 Che Hining ant Scientific ress. leat MINING GOSSIP. EDITED BY FRANK WARDDELL. [In this departmentof the Mining anp Scientiric Press we propose to give varions aud brief accounts of mining companies, and shall, wider all circumstances, write plainly respecting thelr merits and de-merits; furthermore, we shell briug to light such transnetions as ny eome within onr Knowledge regarding the “Bulling and Benring" system and the “widerground” actions of both Trustees and Brokers. We are vain enongh to suppose. at all events, that wehave the “inside traek." and shall, without Acsitency or fear, give to the public. from time to time, a peep behind the seenes whenever the occasion justifies. If, Indomg so, at any time we have tallen in error as to our report, ani it can be so proven, nothing will afford us more picasure than to muke the “amende Aonoralle” by correcting the same. We shell feel nnder obligations to those who are interested in stoek il they will,communicate to ns such items ns muy come wider their observations. and whieh will prove Interesting to our readers. This department is open for free disenssion to ‘one and all”? Our object is to render justlee to every one. Communications, in all eases, mnst contain the author's name and address to insure publieation, which will be kept strictly considentiai—other wise no notice will be taken of them.] Reat Det Monte.—Nothing new has thanspired of an important nature relative to this mine since our last issue. Matters and things regarding the investigation proceed slowly and will of course reqnire time aud great care to be taken with the examination. The committee has appointed a competent gentleman to act in the capacity of bookkeeper, who commenced his labors on Thursday, the 25th instant. (Well may we use the term labor, for he will findit so, we presnme, before he gets through.) Stockholders and the public generally, are looking forward with much anxiety to the report of this committee. We may he wrong in our conjectures, hut we uevertheless do think that the said report will bring to light some very strange developments, which will show that the affairs of this once prosperous company have heen trified with, and the stock of the company consequeutly well nigh ruined thereby. _ it was a wise move when the stockholders adopted our suggestions, and held their meeting, and we feel the inore proud to think that our efforts have been the cause of having many different companies wake up to their interests, and to call similar nieetings. We plainly saw that the method we proposed was the only correct one wherehy stockholders could fiud out how affairs stood in companies so mysteriously managed. We determined to give our vievrs of the matter to the public, regardless of what the consequences might be—wh ch no other journals have done, fearful that it might injure their circulation. Nothing like heing free in speech and independent in action— speak as you deem proper (always using discretion) and more especially when you know you haye the right on your side. We didso and the result has heen ‘an unlooked for and gratifying one. We have secured hundreds of new subscribers aud well wishers, and the thanks of the community. We have accomplished our ohjcct and are satisfied with the result. Sucu is Lirs.—It is rumored that the old Secretary of a compauy which now stands prominent before the people purposed taking a trip upon the Continent, having made enough of the “ necessary of life,” comwonly called money, out of the stock; for be it known that he sold out at the right time, so the wise ones say. We, deeming ourselves not so wise, make the enquiry and would like to be informed what the term v%qh2 time signifies? Since au informal meeting of the stockholders, we have heen told that he most wisely concludes to defer the much anticipated pleasure trip until sone future day. What a contrast! To think while hundreds have heen deluded and almost ruined, he, the well known, mysterious, silent-tongued, nou-iuformant Secretary, (even to his most intimate frieuds) should have made euough so as to afford a trip abroad, make a “splurge” and astonish the natives. Oh, no! we guess he did not have the iuside track; not he, indeed ! Lany Bryan G & S Minine Co.—This company have called a meeting of its stockholders to take place on the 12th of March. ‘Ihe principal object of the meeting is to take into cousideration the propriety of reduciug the uumber of the shares of the stock. Wethink the idea an advisable one, and would recommend many other compauies to follow the same example. AFTER THEM IN Baryest.—Mr. Caleb T. Fay, the Assessor of the Internal Revenue, is after the Stock Brokers and Secretaries in a fine style. Much commotion has been the cousequence, and already a decided increase in the funds of Uncle Sam. The Stock Brokers and Secretaries ara very’ indignant, and say that the representative of Uncle Sain is rather severe upon them ; that during these ruinons stock: . times he ought to he more: lenient toward them, es-/ pecially as they have heen such good customers in the time of their prosperity, Mr. Fay, however: does not see it iu that light, and makes the following demand, irrespective of their groans and supplications. So, gentlemeu, “walk up to the Captain’s office,’ huy your stamps, fix up all your hack . certificates and await calmly for the call of the As-: : : " merous, transactious outside have also been limited. sistant Assessors. vtt CIRCULAR. OFFICE OF THE ASSkssoR OF INTERNAL RRYENUE, IsT DIst. ) Cal ) Alitornia, San ¥raneiseo, Feb. 23d, 1964. To Buyers and Sellers of Stocks’: I have heen informed that stamps npon certificates of stock are, in numerous cases, nut properly and lawfully cancelled with initials and dates, thereby leaving them in condition to he taken off and used again.’“Tam also informed that persons who transfer stock by power of Attorney, or endorsement, are in the habit of siguing their names to blank powers of attorney, and delivering stock to purchasers .or brokers without affixing stamps to such certificates. This act is a plain violation of the law, and makes all such transfers null and void. The only way to avoid using stamps lawfully is for parties personally to transfer stock, and in such cases it would be well for persons transferring stock to endorse their name above the blank power of attorney, and not below ii, thereby preventing the possible use of such power, or the raising a question as to violatiou of law.—[A severe joke—En. Press.] The law in relation to stamps upon certificates of stock has been so carelessly execnted, that the Assessor has devmed it necessary to examine all trans fers of stock in the city; but in order that persons who have innocently violated the law may have no injury done them, ten days will he allowed all persons and companies to correct previous errors. After the ten days have expired, Assistant Assessors will be instrac‘ed to visit every corporate company’s . office, and make such exaninatiou as will satisfy them that the law is observed. In future, the law must be strictly adhered to, or the prescrihed penalties will be enforced.” It is a satisfactory reflection to know the operators in “ wild eat,” stock will feelthis injunction most severely. Cannot Acren.—There seems too be mnch ill feeling existing among the different members of the San Francisco Board of Brokers. From what we have been able to learn it is all caused by simply a misunderstanding as to their rights, as members. One “ clique,” composed of some seven memhers who, by the way, are also members of the new “ Open Board,” maiutain that notwithstanding a resolution having beeu passed by the hoard, to the effect that no memher can belong to two boards at once, say, it does uot hold good, aud, furthermore, they cannot lawfully be suspeuded on the ground that the board ig an incorporated institution. The rest of the memhers argue to the contrary. Thus the “war goes ou.” such disgraceful actions between gentlemen as have taken place of late. It is to he hoped that their affairs will e’er loug be amicably settled, and a more dignified course pursued toward one another iu fu-. ture. We are inclined to believe that such are the wishes of the majority of the hoard. Gentlemen, “knock down” arguments never avail auything, and always prove fruitless. Good common sense is the ar icle to use, combiued with sound reasoning. “A “hint to the wise,” we trust, is sufficient.” Srockuotners or tHe Rea net Moxre.—Your atteution is directed to an advertisement which appears in our issue of to-day. It is very importaut that each holder of the stock should at duce pay the one dollar per share levied by the committee—so that no unnecessary delay shall occur in “ ferreting ” out the mysterious proceedings of this company. We regret to see such difficulties arising and Lany Brryay.—a letter from the superintendent ot this mine, dated Feb. 23 and received here on the 25th, states, among other things, that “he had sunk a shaft 20 feet, passing through sinall quantities of very fine ore. Afier reaching a depth of 55 feet hewould commeuce taking out ore.” His plans are suchas will ensure a more speedy progress than heretofore in taking it out. The letter also states that the ore looks more like the Ophir than any he has seen outside of that lode. Gioony Tines.—The past week has been anything hut a prosperous and encouraging one for the stock hrokers. Stocks have been dull, and the fluctuations in several leading stocks have caused many severe losses. Sales in the different Boards were not nuWe hope that the month of March will prove more successful to stock operators than the one they have ' just passed through. Mexican Mine—Messrs. Alsop & Co. have disposed of this‘mine, within the past week, to an incorporated body, for the snug sum of One million three hundred and sixty thousand dollars! As there are only 100 shares in the company, it thus averages at the respectable figure of $13,600 per share. . Burnsip—e.—A muvemeut has taken place in this stock on account of a telegraphic despatch having been received here, stating that they had struck a good quality of rock, assaying $135 to the tou. Saxta Rosa G. & 8. M. Co.—There seems to he” more life in this stock, and it is said that the rep«rts received from the mine are of a more favorable character. ‘ A Correct Idea, Wehave been informed, “officially,” that the directors of several mining companies, in this city,,, have notified their stockholders, hy circular, that all the notices of meetings, assessments, etc., 1elat ing to théir several companies will hereafter be published’ jin the Miyine ann Scienriric Press: the only mining paper in the State, all sufficient asan advertising niedium, and one eminently worthy the support of mining men and Taining companies generally. We are certainly thankful for such expressions of appreciation in hehalf of our efforts, on the part of the mining public, and shull continue to labor to the hest of our ability, in earnest effort to benefit the miner individually aud mining interests generally. We could accomplish much more thau we are now doing, if our mining friends would still further concentrate their patronage upon our columns, and we think moreover that we could serve them quite as well ag any other journal. Our circulation is already large and rapidly increasiug. ‘The matter given in our colnmns, aud its typographical appearance, speaks for itself. As an advertising medium for mining notices, aud such business matters as it is desirable to bring before the mining public, we believe the Mun1N0 aND Sciznire Press is second to no other paper in the State. Mar or tur Norraern Mrxes.—A gentleman has submitted to our inspection a map of the Northeru Mines, including also Humboldt aud Reese River. The Boise region portion of this map has heen drawn under the direction of Mr. Jordan, who was the origiual discoverer of the Jordan Creek mines. It is much more full und correct in relation to the Boise mines, particularly, than any of the maps yet published, and we should judge its publication would not only be a good speculation-but add materially to the geographical knowledge of one of the most important mining regions yet opened hetween the Sierra Nevada and the R cky mountains. We have found this map’of material assistance in preparing an article for our next issue, under the head of “ The Northeru Mines.” ‘

132 Che Hining ant Scientific ress. leat MINING GOSSIP. EDITED BY FRANK WARDDELL. [In this departmentof the Mining anp Scientiric Press we propose to give varions aud brief accounts of mining companies, and shall, wider all circumstances, write plainly respecting thelr merits and de-merits; furthermore, we shell briug to light such transnetions as ny eome within onr Knowledge regarding the “Bulling and Benring" system and the “widerground” actions of both Trustees and Brokers. We are vain enongh to suppose. at all events, that wehave the “inside traek." and shall, without Acsitency or fear, give to the public. from time to time, a peep behind the seenes whenever the occasion justifies. If, Indomg so, at any time we have tallen in error as to our report, ani it can be so proven, nothing will afford us more picasure than to muke the “amende Aonoralle” by correcting the same. We shell feel nnder obligations to those who are interested in stoek il they will,communicate to ns such items ns muy come wider their observations. and whieh will prove Interesting to our readers. This department is open for free disenssion to ‘one and all”? Our object is to render justlee to every one. Communications, in all eases, mnst contain the author's name and address to insure publieation, which will be kept strictly considentiai—other wise no notice will be taken of them.] Reat Det Monte.—Nothing new has thanspired of an important nature relative to this mine since our last issue. Matters and things regarding the investigation proceed slowly and will of course reqnire time aud great care to be taken with the examination. The committee has appointed a competent gentleman to act in the capacity of bookkeeper, who commenced his labors on Thursday, the 25th instant. (Well may we use the term labor, for he will findit so, we presnme, before he gets through.) Stockholders and the public generally, are looking forward with much anxiety to the report of this committee. We may he wrong in our conjectures, hut we uevertheless do think that the said report will bring to light some very strange developments, which will show that the affairs of this once prosperous company have heen trified with, and the stock of the company consequeutly well nigh ruined thereby. _ it was a wise move when the stockholders adopted our suggestions, and held their meeting, and we feel the inore proud to think that our efforts have been the cause of having many different companies wake up to their interests, and to call similar nieetings. We plainly saw that the method we proposed was the only correct one wherehy stockholders could fiud out how affairs stood in companies so mysteriously managed. We determined to give our vievrs of the matter to the public, regardless of what the consequences might be—wh ch no other journals have done, fearful that it might injure their circulation. Nothing like heing free in speech and independent in action— speak as you deem proper (always using discretion) and more especially when you know you haye the right on your side. We didso and the result has heen ‘an unlooked for and gratifying one. We have secured hundreds of new subscribers aud well wishers, and the thanks of the community. We have accomplished our ohjcct and are satisfied with the result. Sucu is Lirs.—It is rumored that the old Secretary of a compauy which now stands prominent before the people purposed taking a trip upon the Continent, having made enough of the “ necessary of life,” comwonly called money, out of the stock; for be it known that he sold out at the right time, so the wise ones say. We, deeming ourselves not so wise, make the enquiry and would like to be informed what the term v%qh2 time signifies? Since au informal meeting of the stockholders, we have heen told that he most wisely concludes to defer the much anticipated pleasure trip until sone future day. What a contrast! To think while hundreds have heen deluded and almost ruined, he, the well known, mysterious, silent-tongued, nou-iuformant Secretary, (even to his most intimate frieuds) should have made euough so as to afford a trip abroad, make a “splurge” and astonish the natives. Oh, no! we guess he did not have the iuside track; not he, indeed ! Lany Bryan G & S Minine Co.—This company have called a meeting of its stockholders to take place on the 12th of March. ‘Ihe principal object of the meeting is to take into cousideration the propriety of reduciug the uumber of the shares of the stock. Wethink the idea an advisable one, and would recommend many other compauies to follow the same example. AFTER THEM IN Baryest.—Mr. Caleb T. Fay, the Assessor of the Internal Revenue, is after the Stock Brokers and Secretaries in a fine style. Much commotion has been the cousequence, and already a decided increase in the funds of Uncle Sam. The Stock Brokers and Secretaries ara very’ indignant, and say that the representative of Uncle Sain is rather severe upon them ; that during these ruinons stock: . times he ought to he more: lenient toward them, es-/ pecially as they have heen such good customers in the time of their prosperity, Mr. Fay, however: does not see it iu that light, and makes the following demand, irrespective of their groans and supplications. So, gentlemeu, “walk up to the Captain’s office,’ huy your stamps, fix up all your hack . certificates and await calmly for the call of the As-: : : " merous, transactious outside have also been limited. sistant Assessors. vtt CIRCULAR. OFFICE OF THE ASSkssoR OF INTERNAL RRYENUE, IsT DIst. ) Cal ) Alitornia, San ¥raneiseo, Feb. 23d, 1964. To Buyers and Sellers of Stocks’: I have heen informed that stamps npon certificates of stock are, in numerous cases, nut properly and lawfully cancelled with initials and dates, thereby leaving them in condition to he taken off and used again.’“Tam also informed that persons who transfer stock by power of Attorney, or endorsement, are in the habit of siguing their names to blank powers of attorney, and delivering stock to purchasers .or brokers without affixing stamps to such certificates. This act is a plain violation of the law, and makes all such transfers null and void. The only way to avoid using stamps lawfully is for parties personally to transfer stock, and in such cases it would be well for persons transferring stock to endorse their name above the blank power of attorney, and not below ii, thereby preventing the possible use of such power, or the raising a question as

to violatiou of law.—[A severe joke—En. Press.] The law in relation to stamps upon certificates of stock has been so carelessly execnted, that the Assessor has devmed it necessary to examine all trans fers of stock in the city; but in order that persons who have innocently violated the law may have no injury done them, ten days will he allowed all persons and companies to correct previous errors. After the ten days have expired, Assistant Assessors will be instrac‘ed to visit every corporate company’s . office, and make such exaninatiou as will satisfy them that the law is observed. In future, the law must be strictly adhered to, or the prescrihed penalties will be enforced.” It is a satisfactory reflection to know the operators in “ wild eat,” stock will feelthis injunction most severely. Cannot Acren.—There seems too be mnch ill feeling existing among the different members of the San Francisco Board of Brokers. From what we have been able to learn it is all caused by simply a misunderstanding as to their rights, as members. One “ clique,” composed of some seven memhers who, by the way, are also members of the new “ Open Board,” maiutain that notwithstanding a resolution having beeu passed by the hoard, to the effect that no memher can belong to two boards at once, say, it does uot hold good, aud, furthermore, they cannot lawfully be suspeuded on the ground that the board ig an incorporated institution. The rest of the memhers argue to the contrary. Thus the “war goes ou.” such disgraceful actions between gentlemen as have taken place of late. It is to he hoped that their affairs will e’er loug be amicably settled, and a more dignified course pursued toward one another iu fu-. ture. We are inclined to believe that such are the wishes of the majority of the hoard. Gentlemen, “knock down” arguments never avail auything, and always prove fruitless. Good common sense is the ar icle to use, combiued with sound reasoning. “A “hint to the wise,” we trust, is sufficient.” Srockuotners or tHe Rea net Moxre.—Your atteution is directed to an advertisement which appears in our issue of to-day. It is very importaut that each holder of the stock should at duce pay the one dollar per share levied by the committee—so that no unnecessary delay shall occur in “ ferreting ” out the mysterious proceedings of this company. We regret to see such difficulties arising and Lany Brryay.—a letter from the superintendent ot this mine, dated Feb. 23 and received here on the 25th, states, among other things, that “he had sunk a shaft 20 feet, passing through sinall quantities of very fine ore. Afier reaching a depth of 55 feet hewould commeuce taking out ore.” His plans are suchas will ensure a more speedy progress than heretofore in taking it out. The letter also states that the ore looks more like the Ophir than any he has seen outside of that lode. Gioony Tines.—The past week has been anything hut a prosperous and encouraging one for the stock hrokers. Stocks have been dull, and the fluctuations in several leading stocks have caused many severe losses. Sales in the different Boards were not nuWe hope that the month of March will prove more successful to stock operators than the one they have ' just passed through. Mexican Mine—Messrs. Alsop & Co. have disposed of this‘mine, within the past week, to an incorporated body, for the snug sum of One million three hundred and sixty thousand dollars! As there are only 100 shares in the company, it thus averages at the respectable figure of $13,600 per share. . Burnsip—e.—A muvemeut has taken place in this stock on account of a telegraphic despatch having been received here, stating that they had struck a good quality of rock, assaying $135 to the tou. Saxta Rosa G. & 8. M. Co.—There seems to he” more life in this stock, and it is said that the rep«rts received from the mine are of a more favorable character. ‘ A Correct Idea, Wehave been informed, “officially,” that the directors of several mining companies, in this city,,, have notified their stockholders, hy circular, that all the notices of meetings, assessments, etc., 1elat ing to théir several companies will hereafter be published’ jin the Miyine ann Scienriric Press: the only mining paper in the State, all sufficient asan advertising niedium, and one eminently worthy the support of mining men and Taining companies generally. We are certainly thankful for such expressions of appreciation in hehalf of our efforts, on the part of the mining public, and shull continue to labor to the hest of our ability, in earnest effort to benefit the miner individually aud mining interests generally. We could accomplish much more thau we are now doing, if our mining friends would still further concentrate their patronage upon our columns, and we think moreover that we could serve them quite as well ag any other journal. Our circulation is already large and rapidly increasiug. ‘The matter given in our colnmns, aud its typographical appearance, speaks for itself. As an advertising medium for mining notices, aud such business matters as it is desirable to bring before the mining public, we believe the Mun1N0 aND Sciznire Press is second to no other paper in the State. Mar or tur Norraern Mrxes.—A gentleman has submitted to our inspection a map of the Northeru Mines, including also Humboldt aud Reese River. The Boise region portion of this map has heen drawn under the direction of Mr. Jordan, who was the origiual discoverer of the Jordan Creek mines. It is much more full und correct in relation to the Boise mines, particularly, than any of the maps yet published, and we should judge its publication would not only be a good speculation-but add materially to the geographical knowledge of one of the most important mining regions yet opened hetween the Sierra Nevada and the R cky mountains. We have found this map’of material assistance in preparing an article for our next issue, under the head of “ The Northeru Mines.” ‘