Show NEWHOUSE DROPS OPTION Allows Deal on Gold Property in Oregon to Fall Through Samuel Newhouse has dropped his op option tion on the Rainbow gold mine at Mor mon Basin Oregon according to reports from rota that The property was taken up under an option early In the year and it was the intention of the company to install heavy machinery at once This it ia II Ii said Baid has haa never been done As Mr Newhouse ie is at present in New York Tork on business s nothing definite can be ascer aseer ascertained ascertained tamed on the affair No one with au authority authority authority to talk for Mr Newhouse about the matter could be found yesterday The following account of the deal ap appeared appeared appeared in the Baker City Democrat W E King KluS manager of the Rainbow mine at Mormon formon Basin was in the city yesterday on his return from his straw strawberry strawberry berry farm at Hood River He is on his way to the mine to look after the placing placIng ing lag of new machinery recently destroyed by fire entailing a loss to the Rainbow company of about Asked regarding the Samuel Newhouse option for the purchase of the Rainbow Mr King said It is all off Mr Newhouse failed tailed to keep his agreement under the option and the company demanded the return of oC the option and it was done Mr option called for payment of and Mr N could have made on the sale of his option but the Rainbow people would woul not agree to It and as u the company had ha only given Mr Newhouse the option and it was not transferable he could not die dis dispose pose Poe of It The Tb company is not disappointed in inthe Inthe Inthe the least at the turn of affairs in fact the company brought about the result by requiring the contract to be carried out outto outto outto to the strict letter Ietter |