The Seattle Star Newspaper, February 12, 1907, Page 7

Vege NG STOCK LOTTERY AG OPERATED BY PROMOTERS (Continued from Page One, ee of the concern shows it as overlapping sev- of the main ledge peality the cast ledge is three miles from the main pd in the past has not been a productive ledge. gtocks of a number of the companies listed in the have precarious records, The Big Index Gold & Mining company's stock, promoted by William which was once favored to a considerable extent , is pronounced unsalable by brokers, MS OF WEALTH GO GLIMMERING, of the El Capitan Mining company, a $5,000,000 ion, is now selling at 5 cents on the market, Mountain Mining company stock, another Frank- on, is selling at 10 cents, nd Mining & Smelting company stock is appraised pg to ro cent by brokers, Peak Copper Mining company stock is quoted Par ar’ seasan eee er 5 ae Mining Syndicate stock, somewhat of a favorite ‘arners in the past, and which sold as high as 50 be bought at 3 3-4 cents, Bornite Copper Mining company stock is selling cents. Pacific Mining company stock is considered of by brokers. thern Exploration company has been the subject ts to the police. No quotation on its stock can be shir Creek Hydraulic is considered unsalable. pic Mining company stock is in little demand cents. Copper company stock brings from 5 to 6 cents pd go the list goes.. Whether honestly or dishonestly the history of most of the King county mining fons which have sold stock to the public is much m Treasure Gold Mining company stock once sold 75 cents in the market, It is now at about 1 1-2 Mining company stock, which sold as high as now sells from 3 to 4 cents. E PERIODS OF WILDCATTING. Re periods of frenzied speculation, in which wild- rich harvests, preceded the recent renewal of is. These may be designated as the Wash- the Klondike period and the Nome period, gin the order named. eh tory of mining in Western Washington is large- ,of buried treasure, buried hopes and blighted pros- money of thousands of small investors which ed in developing veins of ore which “pinched build a substantial city; the labor expended in to dig fortunes from the earth would almost of those who spent their own money in efforts to 3s which promised wealth, could, perhaps, their losses philosophically, but to those who of months or years in the stocks of wildcat & the losses were in the nature of a tragedy. hope of ease and enjoyment in life is largely pin his savings. Sweep the savings away and hope, at least, is gone. WILDCATTERS DUPED VICTIMS. have been taken from the savings of the people by wildcat corporations in the last twenty wildcat mining graft has been one which dwarfs ts in the western country. As an example of 5 iering, it beats even the Wall street bunco pe Wall street deals in property which has intrinsic 8 speculative values, while the wildcatters operate worite scheme of the wildcatter is to take an aban- fine or “prospect,” which has been worked years be- Er is of Georgetown. This is s ‘urnished. EASY TERM Phone Main 2209 ite Heights Located on West Seattle side, just outh of Spokane Avenue and west ddition. Every tract has fine view of city and the Georgetown valley. HAVE JUST CONTRACTED with McQuaid Bros. to grade and open the main avenue to Duwamish Ave- ue, giving a fine driveway to city. Large tracts, wide streets, abstracts 407 Oriental Block | ~---- Independent 2932 fi THE SEAT fore, and organize a mining company which is capitalized for a few millions of dollars, at an expense of about fifty dollars, He shows the richest samples of ore to be obtained and sells all the stock possible, Often the wildcatter does not even make a pretense of developing the property which he knows to be worthless, He gets all the money he can and puts it to his own account in bank, All that the investors have to show for their money are the worthless sheets of engraved paper, labeled “stock,” x As a general proposition really meritorious mining pr oM pects are not thrown open to the general public, There are too many wealthy men looking for good mining investments to give the public much of a chance on anything really known to be good, It is an accident when the public gets stocks in big dividend payers. It is an oversight on the part of the Gug- genheims, the Standard Oil interests and the other large mining investors, FEW WINNERS HELP SWINDLERS, Nevertheless it is a fact that occasionally an advertised stock makes fortunes for small investors, This unfortunately makes wildcatting a possible and profitable graft. Curtously enough mining speculation reached tte highest fever degree in Seattle during the time of greatest business depres sion, While previous to the panicky days of the ‘Nineties, there were some efforts to develop mines in Western Washington, most of them Jogitimate, it was not until Seattle felt the pinch of poverty that the record of reckless speculation and unlimited wildcatting was established The paralysie of business which affected the entire country Was expecially severe in this city, and In desperation the people turned to any scheme which offered quick relief from the poverty which oppressed nearly all. Hundreds of mining companies were formed during the "Nineties, Many of the most prominent men in Seattle were among the promoters and tnvestors, It was tn these days of profitioss effort to wrest wealth from the mountains that the Denny fortune was largely frittered away, The lat of Incorporatora and officers tn the companies of those days would almost constitute a directory of the men prominent tn financial and political cireles, The names of ministers of the gospel appear in the articles of incorporation and even the women organ feed companies in the hope of wealth and Independence. Another Signal for “Wiideats.” Mining interest was beginning to languish in Seattle when the Steamer Portland arrived from Alaska with a shipment of gold from the Klondike. The news was a signal for wildeats and the year 1897 was their banner year. Before wildoatting lost the stimulus of this discovery, the Nome development was announced and there was another wild carnival of wildeats extending through the years to the present time, It was during the period of mining speculation brought on by the Alaska discoveries that the two most absurdly capitalized min ing companies ever launched here were organised. They were the Cooperative Mining company, capitalieed at fifty millions, incorpo rated Nov, 9, 1896, and the Olympic Mining company, capitalized for ‘a ike amount and incorporated Sept. 13, 1899. Much stock was sold by these companies and it Is needless to say that it ts worth- lea now. Fraud wan frequently practiced In connection with mining companies. Wage earners who invested fm the stock of the North- west Alaska Prospecting company, of which Jobn A. Hiuffman wae president, discovered that the assay certificate upon the showing of which they had been induced to invest, had been raireed to show $44.00 per ton more than its real vale. The stock investments were a total lose. + FOUND PERFECTLY SANE). cys ous My se se wv bore -WEDDING FOLLOWS Examined for insanity before &) home, who claimed that Miss O» medical board, her intended hu» |born had delusions, she was taken " |before the insanity commissiot, band standing by hor side, acquit | which, ted of being peculiar and then Mah! pronounced the woman perfectly ried immediately afterwards, wae sane. the odd experience of Flora O*) Matthiag Cringle stood by Mies born at the county court house | Osborn’s aide during the ordeal aad For some time Miss Osborn has | following the verdict the happy been an Inmate of the Florence couple came down town, sought out Crittenddon home at Dunlap. Upon|s minister and are sow Mr. and complaint of the manager of the’ Mra Cringe. . ne ee ee | set =r RECORD OF BIRTHS Kelly—At 1115 West Green Lake boulevard, February 10, to wife of John P. Kelly, » son Lamb—At 4016 21th ay. N. E, Births were registered today 85! porary 10, to wife of Charles H follows: Lamb, a son, Prime—At 221 Pontius st, Feb-| Cravens—At 4013 14th NE if rt Prime, | cm av . nary 10, to wife of Robe February 6, to wife of Oliver P. M & fon. . Begley--At 2010 §. Cherry at,/ Cravens, a son. February 11, to wife of Neal H.) Card—At 616 46th ov. N. Feb Bagity, & son. ruary 10, to wife of J. B Card, « Perkins—At 1107 24rd av. Feb-| daughter ruary %, to wife of Walter A. Per} Honan—At Ross place, February kins, a son Bimpson——At 2112 Sith av. N../ tor February 9, to wife of O. T. Simp-| Moser—At 502 20th ay,, February son, 8 som. 18, to wife of Leo Moser, a daughter. When you spend a dollar, do you think how much that dollar would be worth if you saved it @ year or ten years before you spent it? Save your money. it will In crease In buying power, We Pay 4 Per Ct. interest On Savings Accounts BRANCHES — Ballard, Georgetown, JAMES D. MOOR NR SOLER Renton, President +» Cashier pIRNCTORS Ferdinand Rehmite J. D. Lowman Kmanwel Rosenberg A. i George Donworth Robt. © MeCormich Stward Rh Duns Chae if James D. Hoge =. B. Molner nionSaving & Trust Co. Corner Seoond Ave. and Cherry. Hoge Bidg., Seattic, Wash. Agents for Ale Safe Deposit Cc a beautiful a Banking and Nome, Alaska. $2,800. WEST SEATTLE. 7-room modern home, view, 2 lota; fine balance 1 and 2 years. $2,000. 4 elegant Sound view lots; close to school house; cash. $1,600. 4 fine to 1 block from Californ' ar Whittlesey; $700 cash, balance 6 and 12 months, Hayes & McLaughlin 634-35 Ploneer Bidg. Phones, Main 454; Ind. 2685, 7. 3 | @O AND SEE OXBOW ADDITION TODAY. { SLAR—TUESDAY, FEB, 12, 19 after a short examination, | | 11, to wife of John Honan, a daugh TWO VESSELS COLLIDE AND SINK OFF BLOCK ISLAND (Continued from Page One.) PR APA RI AOA al ewe Gesperately to launch the lifeboats, but the heavy seas smashed them to bits as quickly as they were lowered. According to some of the members of the crew who suc- ceeded in escaping in the lifeboats the schooner disappeared ‘five minutes after the steamer, which sunk in 20 minutes from the time she was struck, The wife of Captain McVey, commanding the Larch- mont, received a telegram today announcing his safety, but saying nothing of the loss of life. The local agent, when seen today, said there were 150 passengers aboard and a crew fumbering go. The agent had no passenger list. The chief engineer of the Larchmont was Robert Gay, of Bridgeport, Conn, MAY NEVER RECOVER BODIES. A telephone message from Block Island this afternoon says that every effort was made to save the passengers. A hole was evidently knocked in the hull below the waterline, Scores were probably drowned in their staterooms. The bodies will probably never be recovered, Many who were awakened by the collision rushed upon the decks thinly clad. Many swooned from fright and soon the lights went out and the dynamo was flooded. The boats were launched in good order and many pas- sengers placed in them, ‘ Two boats got ashore, 14 of their occupants being dead when land was reached, The weather was so rough that no tugs would put out, the wreck being 30 miles away. It seems certain a number of boatloads of passengers were swamped. Captain Jack O'Neil, of the tug Solicitor, and one of the hardiest mariners on the Atlantic coast, was too cautious to attempt to sail to the rescue, thinking such an attempt fool- hardy. BLOCK ISLAND, R. L., Feb. 12.—News of the Larch- mont’s lous first became known when a boat came ashore containing eight living men and 14 frozen corpses. The sur- vivors say that the Larchmont went to the bottom in a few minutes after the collision, which occurred at g o'clock last night. The sea was rough, although the sky was clear. The thermometer was below zero. : Captain McVey ordered out the boats, but most of them capsized as they hit the water. The survivors say that few could have escaped, most of the passengers being in their staterooms when the Knowl- ton struck her. The ship sank so quickly that many had no time even to reach the deck, Captain Healy and his crew of seven from the Knowlton “Feached the beach safely. EIGHTEEN BODIES RECOVERED. ‘as there is known, only eight survivors. Eighteen bodies in all of the entire ship's company have so far been accounted for. zi LATE BULLETIN. BLOCK ISLAND, Feb. 12-—The Inhabitants of al! parts of the } Jeland have turned out to aid in the work of rescue, The north: ' west gale and zero temperature has continued throughout the fore- noon. Twenty-six are now accounted for, which leave about 160 it seems impossible that any are alive, even if they reach- @d the shore, Capt. MeVey reached the istand after cruising | gbout in a email boat all might. Neither he nor Capt. Haley, of Knowlton, were able to give an exact cause of the collision. MoVey says he will make a full report to the company's general | * office at New York. - _ — —_ -_ ia 4 aang 4, at Providence hospt missing. Record of Deaths. tal Deaths were registered today as Yom--Ching Yom, a 11, at 414% W | Patterson—-Allan M. Patterson,” ~ February §, at Providence hospital. | MaeDonald—Mrs. Anna Mac-| | Donald, 47, February 7, at 1914 Fed-| eral av McMahon—-Peter MeMabon, 74, February 10, at Provideace hospital Kelty—Mayant M. Kelly, 9 weeks, ebruary 6, at York station. Valley—Mra. Sophie Valley, 35, | pbruary 9, at Renton. | Mitcheli—Ruth Mitchell, 10, Feb it 982 22nd ay ry Cranston February {f | We keep an abstract aystem lot will cost you od will be glad to tell you the name of the owner of any piece of property in the city free of GREGOR M’GREGOR 316 Denny Building. ments cement, city water, building. begin. EASTLAKE AVE 54100 —ON— UNIVERSITY CAR LINE POSIT E—- JENSEN'S GROVE. $4,100 TERMS: HALF CASH, BALANCE TO SUIT. shop, plenty of fruit, all for $3,000; half cash, balance to suit. This property faces two streets, and the new Latona ear line will pass right by !t M L hil R | Better see this at once. Cc aug in ea HOOVER BROS, 617 Marion Bldg Main 1677; Ind. 2420. Main 2476. No grading is necessary on your lot. it lies with reference to the street and to your neighbor. Two Blocks From the Car Line That seems near cnough to satisfy anyone. But on March struction of the car line down Michigan avenue through the heart of Oxbow will The steel rails are on the ocean, on the road to Oxbow, be unloaded from an ocean steamship at any place along Y | 8 Oxbow’s Three Miles of Water Front This water front, for ocean going vessels, is tide water. bow's greatest assets. P manufacturing, exporting, ware- hat’s the reason Oxbow is a good investment. Money Makers at Oxhow $500 buys a fine resi aia American Bank Building. iit Estato $4,000 cash for eight lots, 30 x100 each, fronting on 56th and 67th sts, improved with a Groom cottage, stable and other outbuildings; Kil bourne’s Add. to Green Lake The new Green Lake car line will be running this fall. You will then see a big advance and great building activity In this vieinity. BUY NOW Tamm & Kunkel Henry Tamm, Chas, G. A. Kunkel, Real Eotate. 607 Marion Building, Corner Second and Marion. Phone M. 4788; Ind, 4065 “The Big 4” of -West Seattle Just four left of those beaw tiful lots in Sutherland Add., on Columbia Ave, one block from the street car that will be running Wednesday, the 4th. They will be worth $500 inside of 10 days. You can have them this week for $325 each. Take the car Wednesday and seo them Better leave a deposit here first—they will go like hot waffles. BENJ. F. NUDD SIDNEY F.WOODY Realty, Timber and Lumber. 404 Denny Building. Main 2817. $2,500 Wilt handle @ fine lot on 10th Ave, and Cherry St, with good house renting for $40.00 a month. This property will be worth $10,000.00 in a year, The price now is only $6,500 $2,500 cash and balance In two years. Joseph E. Thomas & Co., Inc. 109 Cherry St. Entrance to Lowman Bidg. For Irrigated Lands call om COLUMBIA CANAL CO, U. K. Loose, President and Genera! Manager, 509-510 Me- rion Bu ding, Seattle, Wash., or Attalia, Walla Walle Co. Wash. Ks | To Land Clearers | A Small Contract to Let at Once ant week we adver 120 acres of surface clearing to let. We have contracted for 100 acres of this and there are 20 acres left. This work to be completed within 60 days. It is the - Hghtent clearing on the 120 acres. || Experienced woodsmen | apply at once. be lon Crawford & Conover 202 & 203 New York Bik. Have You $1625 Cash? Tract 24, Maple Leaf Ad dition, containing 6 acres, only $3,260, half cash. Acre age adjoining they ask $1,000 an acre. If you want to Insure your house or furniture against fire, phone to me. Gregor McGregor 216 Dénny Building. Main 778. Ind. 2378. Last Chance Youngstown 50x 102 CORNER . CAR LINE $1000 Terms Half Cash THI8 18 A SNAP AND WORTH $1,700 TODAY. Rosenbaum Bros Real Estate Brokers. 209 Oriental Block. Main 2898. Ind, 343. DOWNING, be: “tend & RYER ne. BROKERS. Grain, Provisions, Stocks, Bonds. PRIVATE WIRES. Tel. Main 279, Ind, 279. - 395-306 Alaska B Your Money’s Worth of Level Land When you buy a lot in Oxbow you know from the beginning just what your You do not have to worry about future improvement assess- The improvements are in and paid for. Streets are graded, sidewalks of Oxbow Is Level Land You can see when you buy it just how MUST BE SOLD AT ONCE, fence lot Ox TOO n ser graded. street, cement THREE FACTORIES— ROSENBAUM BROS. sidewalks and city Nea ein 300 ar wr, “ . d pei ill fill up every lot in Oxbow with REAL ESTATE BROKERS. water in and paid for. A bealag ake aria i candy 's 4 $800 buys a lot 4ox100 homes and stores. Still there is room 209 ORIENTAL BLK. ge gt Saf hg te nrschrart for ten such factories and more be- MAIN 2808, IND. 343, pss ae iMeurth wveniee sides. Don't you think you had better cout es sadvatniints buy before these first three factories ayes paid for , are running? They are only awaiting norco dg a sidetrack. The sidetrack is waiting A FIN $1,000 buys a lot 40x for the electric railroad and that con- 120 on Michigan av struction begins March 1st. enue, the main thor- oughfare — improve BECOME AN OXBOW OWNER g I ments in and paid for TODAY. ' i A pvencon monet The best lots ever of Take the South Seattle car to the HOUSE, OUBLE a fered at the price. corne Jateman and Este GrRUCTION, good mountain rn By Mead wns re sg of be — ~~ E tony 9om view, with FOUR LOTS 30x ; . a one bloc we over ¢t je new 100 EACH, close to car, fine cash with 6 per cent on bridge, and you are in Oxbow, Sales- chicken house and good work deferred payments men on the ground will give you ty Co. |) Ind 2569, prices, terms, etc, Van De Vanter Davis Co. 3-4-5 Starr-Boyd Building, Main 3307. It is ready for immediate 1st the construc- These rails can It is one of Ox- It means busi- Buy Oxbow lots. or call at Ind, 2299. <E