OCR Text |
Show PORCUPINE HAS RICH 0PP1NGS GOLD, SILVER AND NICKEL 1 i . ' j . Tha psychologlcl! condition, which have resulted In the fomentation of a "near" gold boom of Porcupine .hare, tn Boiton and New York, ss well as In Montreal. Toronto and Ottawa.' hava undoubtedly un-doubtedly been largely Induced by the extremely rich, but somewhat freaky precious metal discoveries previously mads In that mineralised section of Ontario. On-tario. In all that broad district. 40 to sod miles, from Hudson's bay to the great lakes, have been found many metal deposit., de-posit., rich but erratic. At Sudbury, north of Lake Huron, and at no other place, haa nickel been found In commercial commer-cial quantities, but that one point I. now upplylng 0 per cent of the world's nickel. One hundred miles to the north-esst. north-esst. at Cobalt, has been found In sn area of seven scquare milee. silver deposits de-posits which hsve produced st.OOO.OO ounce of the white metsl In seven years., and Is today turning out ll.000.OOS ounces annually, or H per cent of the world's total. Outside of this point silver has cropped out at flow Oanda. sixty miles across country from Cobalt, but there are only two producing mines, both close corporations corpora-tions snd not a stock company to which the public haa been admitted haa made el i ,p eowt "iweenisrnrejv south of Cobalt, tls-re are also soma silver sil-ver prosperts." but no real mine.. Gold in Ontsrlo ha. alway. been a failure. fail-ure. An aaaar of gold can be found In the Ontario mineral belt all the way 100 miles northeast of Cobalt, south to Georglsn bay, and here and there It is rich enough to work. Porcupine appears to be one of thoae spots. Another spot Is the Swastika mine, forty miles to the east, snd east again fifty milea eylvanlte haa been discovered. The country Is full of gold besting veins and perhaps no engineer would turn down a prospect with a big vein and visible gold no rustler rust-ler where the locality. The difficulty Is In distinguishing those which will prove but holes in the ground and those which wilt be mines. In this respect Porcupine Is likely to differ from Cobalt, Originally the country coun-try for eighteen miles around Cobalt was stsked out but the enriched sons nsrrowed down to about seven square miles. Around Porcupine the country is stsked out for forty-five milea. with free gold showing frequently, but rich mines are widely separated. Tha Dom and the' Holllnger are six miles apart. At the prevent time there are companies compa-nies organised to do buatnea In Porcupine Porcu-pine with total capitalisation of ."0.000.-000; ."0.000.-000; but there ar only two mines in the csmp with enough ore in sight to redeem capitalisation. Thes ar the Dome end the Holllnger. Porcupine Gold Mine has a three-foot ore chute of 840 ore at tha 100-foot level opened up for 200 feet, and may almoet be described aa a mine. Not another property In the camp haa as yet had time to out Ita pay streak In a drift, though the Res and West Dome snd th Doble hava definitely located it with diamond or a hot drllla. All the other eompanlee hav floated on surface sur-face Indicatlona only. Although predictions have been mad that Porcupine will rank among th world' big gold camps, there Is no Indication Indi-cation aa yet of any such extent of richness rich-ness as characterises such rich field aa Johanneeborg or Cripple Creek. Neither can tha proepeote of quirk fortune, for-tune, tn gold of Porcupine be compared with thoea originally offered In tha silver of Cobalt. The great difference) between Potrupln and Cobalt la that by the expenditure ex-penditure of a few thouaand In Cobalt, a poor man could dig out ore worth hundred hun-dred of thousands and ship It straight to th smelter. In Porcupine there hss to be a big Initial expenditure, before any firoflt can be made. A oompany on sound Ines in Cobalt would be a "wildcat" in rorcupine. LIVE STCCg f-IARKETSl CHICAGO. CHICAGO. May L Cattle Receipt, estimated at 22,00; market stesdy: beeves. 8MM.48: Texss steers, 84.(09 8.U; western steers. 84. M 1.76; stockers snd feeders. 844)8.48: cows and belters, 82.40Ct.SS: calves. 84.28 94. Hogs Receipt., sstlmsted at SI.0O0; market lie lower; light. 85.t8i(.10; mixed. 86.7098: heavy, 86.8896.86: rough. 88.atfS6.iO: good to choice heavy. 8o.7n8.6; pigs. (1.8698; bulk Of Bales. 168098. Sheep Receipts, estlmsted at 22.000; market steady; native, 83948: western, 88.2694.(0; yearlings. 84.26 96.16; lambs, native. 84.2896.10; western, 84.769(16. KANSAS CTTT. KANSAS C1TT. Mo May !. Cattle Recelpta. SonO; steady; native steera 86916; southern steers, 84.26 96.76; southern oows and heifer. 83.2694,76; native cows snd heifers. 8396.60; stock-era stock-era and feeder. 84.6096.(6: bulls, 8496; calve. 844s(.26: western ate re, 84.609 6.60: western cow. 8396. Hog Receipt. 0.oon: market loc to 2r lower: bulk. 86.(096.76: heavy. 860 97.76; parkera and butcher. 68.(696.80; lights. 86.7ft6'6. Sheep Rscelpts. I8.000; market steady to strong; muttons. 88.4094.40; lamh. 84.7696.76: fed wether and yearling. 88.7696; fed western swee. 63.4094. OMAHA. ' ' OMAHA. May Lr-Cattle RecelpU 1700. Market steady to stronger. Nstlve steers. (69 (; weetem stsrrs. 83. 7(96. M: rangs cows and heifers. 8804.66: cannera, 81.78 94: Blockers and feeders, 83.t095.s0;; calves, 8496.26; bulls, ataga. tc, 81.749 .. Hogs Receipt. 8800; marltet It to 18 cent, lower. Heavy. 86.40sr5.(0: mixed. 86.6696.(0; light. 86-(0T.v.70: pigs. 89 4. to: bulk of ssles. 86.6696.05. Sheep Receipt. 20 ; market strong to IS cents higher. Yearlings, 84.2694.8S; wethers. 8494.8; swaa. (8.494.26; ;amba. (89. - MOVEMENTS OF BULLION. LONDON, Msy 1. Bullion amounting to (78 so wa. withdrawn from th Bank of Fnrlsnd today for shipment to the continent. - v |