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Show CAPITAL IS IN AT nWOIPME The following brief yet comprehend slve statement of the Porcupine district dis-trict mining conditions will be appreciated, ap-preciated, issued by a well-known New York Gnu: The Porcupine camp, which Is located lo-cated 150 miles north of tho Cobalt district and -148 miles north of Toronto, Tor-onto, Is more than one year old It has therefore passed through its discovery1 dis-covery1 stage, but is still In whrJ might he called n "boom" or prospect state of development The advance In tho market valuation valua-tion of the stock of the Ilolllncr company of this district from $3 GO, the subscription price, to $10.25 and within three months, Is a rather con-clnsire con-clnsire indication that the "boom" is of rather formidable proportions The further fact that most of tho money paid for these properties has come from English and Scottish '.mining people of established reputation gives tho district an immediate claim for recognition and also an admission that it Is more than a "scratched surface camp." Big Sums Change Hands. The Ttmmins svndlcate, Including the McMartln and Dunlap interests, were the first to make an actual ex penditure for property, the purchase price of their holdings amounting to $750,000 Ambrose Monel. president of the International Nickel corporation, corpora-tion, tho holding company of the Canadian Cana-dian Copper company, was the second to venture the first allotment for development de-velopment work amounted to S50.000 Tho Crown Chartered people followed With tho advent of the famous Mc Arthur-Forest syndicnto of Glascow, Scotland, however, the camp immediately immed-iately assumed an Importance that naturallv made It known to Fnrnrve Fnom this time on and ur.'ll the present what might be desisrnated as Furopean capital has been responsible for the new values created all through the present accepted mineralized section sec-tion After-ward followed tho no loss well-known F.uropean operating company, com-pany, the Consolidated Goldflelds of South Africa The participation of Bewick. Mnminc & Co., of London, the oldest mining firm In the world, and in virtual control of the South Africa Afri-ca and Australia gold fields, marks we thine the greatest event so far In the history of tho camp. W. J Morelng. tho junior member of the firm, went to Porcupine and after a most careful Investigation his firm mide two Important commitments, commit-ments, one amounting to $3 000,000 for the purchase of claims and the further defined policy of his company to Immediately Im-mediately evpend $2,000,000 for development de-velopment work. Significance must also be attached to the fact that Mr. Morelng went Into what was not so well known a part of tho Porcupine district, Doloro township, and his purchases here Included the Tlmmlns and surrounding claims and extepd-Ing extepd-Ing to the Powell syndicate claims directly di-rectly enst. It Is rather difficult to secure information or renorts from these European firms and the Consoll dated Goldflelds, Scottish-Ontario and Rea companies, controlled by these interests, are not offerlnc any stock for public subscription. The Consolidated Consoli-dated Goldflelds company Is Increasing Increas-ing Its present capitalization to take care of Its new holdings This, of course, is a private matter of the stockholders |