Show THAT MERCUR BOND Mr Cohen States Why It Was Surrendered DRAFT AT THE GOLDEN GATE ONLY ONE SHIFT EMPLOYED AT AT TEEThe MINE The Blue Mountains Attracting Considerable Attention at the Present Time Bingham Mining I News Items of Interest Culled From the Bulletins Columns ANew A-New Company Incorporation of the Bushwick With a Capitalization Capitaliza-tion of 520000 Lshi Rustler Notes It May Be an Old Mine The Gold Flint and the Gold Dust Ore and Bullion Silver and Lead Mining Notes and Personals Person-als Mr H A Cohen the general manager man-ager of Captain J R De Lamars Utah and Nevada mining interests when I seen by a Herald representative yesterday yes-terday was very emphatic irr his denial de-nial of the statements made in these columns yesterday relative to the bond I taken by Captain De Lamar on the i I Mercur property and he characterized I the assertions made as being without foundation in fact I desire to say said Mr Cohen that the bond on the Mercur was forfeited for-feited by Captain De Lamar for the reason that the examination of the mine as made by his experts failed to show 1500000 net of ore in sight I After he had surrendered the bond continued Mr Cohen Captain De Lamar La-mar made the Mercur company a cash offer for the mine which would amount to a great deal more than the actual amount of ore in sight in the property Captain De Lamar personally expended over 50000 in securing the bond on the Mercur mine and in making the examination exam-ination but he was willing to lose this amount rather than to take up the bond under the circumstances after receiving the reports of his experts but he was willing to allow much more for the mine than the amount of ore in sight would seemingly justify At ro time said Mr Cohen was there a syndicate formed for the purpose pur-pose of floating the Mercur property and but one gentleman was tented with Captain De Lamar in the enterprise enter-prise And furthermore the price j specified in the bond was on deposit in i a New York bank and the money was ready to be paid over the moment the i examination made i i the experts j should demonstrate that the mine was worth the amount stipulated in the bond i 11 Cohen also stated that A process j had been found that would treat the arsenical ores of the Golden Gate mine ito i-to the satisfaction of Captain De Lamar La-mar In fact that the system of ore reduction had been tested with satisfactory satis-factory results for more than six months past and Mr Cohen was emphatic j em-phatic in the assertion that the cx traction and cost were eminently satisfactory satis-factory to the management and when it is generally understood that nothing i but an exceptionally high saving would I be acceptable to Captain De Lamar it i will be readily seen that the tests made I on Golden Gate ores by the nrocess j I must have been most satisfactory to I i that gentleman thrt zenteman I |