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Show THE INTER-MOUNTA- ALINING IN matter was settled by compromise, and here again John Becks luck, REVIEW,, them being the' Northern Spy, Governor, Buckeye, Crown Point, Iron Cloud, the Bullion-Bec- k Tunnel Co. and many others, and also a valuable tract of 1,100 acres of placer ground in Idaho. He owns valuable farms and real estate .in various parts of Utah had become proverbial, was with him again, for out. of the ground which had been awarded him from the Eureka Hill he took more than $300,000 worth of ore that the Eureka Hill peotfhich had discovered. ple rinancial difficulties have &T involved Mr. Beck since tha time, but he has come nut of each frying in the fire better off than when he went in. At the same time, the fryi:g process always reduced, oft( u ed by opening up the great mining district of Eureka, is to the verge of destruction before the reaction set in. hin; In 1 185 incorporated for $1 ,000,-00divided into $10 shares, since which time it has paid $2,135,000 in dividends, and through all his vicissitudes in Mr. Beck has succeeded a 4 0, . retaining possession of two-thir- ds He is of the stock. also a large owner in other valuable Tintic mines, among BULLION-BEC- K AND CHAMPION HOIST AND MILL. Present external appearance of the mine that John Beck discovered after twelve years of hard labor. THE MERCED WILD CAT. ; Anent the assesment of $2 per share on the 100,000 shares of the Merced Gold Mining Company, a Montana corporation whose mines are at Coulterville, California, the officials of the company have of ore in the Mary divulged the news of the discovery of a bunch Harrison, that goes from $5 to $8 in gold. The announcement should be accepted with caution by such of the stockholders as may be on the fence as to whether they should send $2 of good money after the $10 of bad they threw away in the last March purchase of the stock. They should remember that during and April the same officials who now are so willing to announce the news of a strike in the mine, witheld from the stockholders all inforact-umation about the failure of the mill to save any values above the cost of mining and milling the ore. The facts are that there has been no strike in the Mary Harrison which is one of thirteen claims owned by the Merced company and one of only three that are situated on the famous Mother Lode of California, the remaining ten being located on what is known as the West Vein. The Mary Harrison has not now, and never has had, any body of milling ore sufficiently It is true that it has shown some large to supply even a small mill. come in very small remarkably rich gold ore, but this has always of chlo-ride- rs quantities and the mine is a proposition fit for the attention on this particular groupi only. Furthermore the force maintained to do has never been at any time in the past six months large enough been kept any prospecting on the vein, only three or four men having at work, and their efforts were directed to gophering on the rich seams. Therefore the announcement of a new discovery in the mine, are anxious that the assessemanating as it does from the officials who ment of $2 per share will be paid, thereby placing $200,000 more in their hands, should be regarded as a blind thrown out to raise a little more hope in the breast of the stockholder and induce him to cough zl s ! I up. with the game played in connection Merced property by A. S. Bigelow, of Boston, wtth Nelson, Hopkiiis, Palmer, Couch, Lyman and Ray associated, reveals the most rascally in the mining attempt to swindle investors that ever was known & world, except, perhaps, their own successful wrecking of the Butte of the Merced com Boston company in Montana. The thirteen claims The story of the flim-fla- m now easily above the one million dollar mark in worldly possessions. Withal, he has never forgotten those who failed to keep pace with him in the race for fortune, and many who. are now enjoying a moderate success owe their start to the generosity of John Beck; -- the Bullion Beck mine was ; and the finest residence in Salt Lake valley, and the man who for twelve years denied himself the pleasures, the comforts, and even the necessities of life, and was reward- pany were purchased for $1 13,000 after they had been on the market for some years for prices ranging from $50,000 to $90,000. The company represented that the group cost $333,330 and then stocked These the property for S ,500,000, divided into 100,000 shares.. shares were sold for par, $10 being paid at the time of the purchase, the remaining $5 to be paid on the call of- the directors. The only experts who ever passed upon the value of the mines were Palmer and Couch, whose report was not shaded because they were directors of the company. On the contrary they cheerfully announced that when the mill should reach 200 stamps, dividends of $10 per share would be paid. The forty stamp mill was started on March 7th 1895, and on days, Ihe cleanup was made. The April 8th, after a run of thirty-on- e event was of sufficient importance to induce Begelow and all cf the other directors, except Palmer who had sold his stock at $50, to visit was $10,030 in Coulterville and the property. The total clean-ubullion and less than .$2,000 sulphurets, a total of about $t2,000 from 3,100 tons of ore. The showing was not a flattering one and while it was in all probability no surprise to the directors the information was witheld from the stockholders and the public. Subsequent to this date Couch sold his stock at about $47 and some of the other directors made tranfers around the same figure as late as May 5 th. The Boston quotations on the stock last week were $7.50 per share putting a valuation on the property of $750,000, a figure Bigelow and his associates would gladly accept if they did not believe that they can get more juice in the shape of assessments out of the sucked be a nice thing to the diorange. An assessment of $200,000 would rectors of a property whose gross output in the past six months, un7 der the best conditions that the property can be operated on, has of the amount, scarcely exceeded This statement of facts has never before been given to the public 1 - . p -- one-four- th in its entirety. The Review is in receipt of a copy of the paper read before the American Institute of Mining Engineers, at the Colorado meeting, September 1896, by Irving Hale, western manager of the General Electric Electric Mining in the Company. The paper exhaustively covers Rocky Mountain Region About the best piece of railroad advertising that has been recently of the Mercur district, handsomereceived from the press is a write-u- p s, issued by the passenger department of the ly illustrated with Union Pacific Railway. The Review is indebted to Erastus A. Benson, of Omaha, for one of the first copies. half-tone- |