Digital Library of Georgia > "Thar's Gold in Them Thar Hills": Gold and Gold Mining in Georgia, 1830s-1940s

Prospectus of the Dahlonega Gold Mining and Milling Co.
Pages 19-24

author: Dahlonega Gold Mining and Milling Company
extent: 23 p.
publisher: Standard Printing Company
publication place: Kansas City
date: [1902?]
repository: Chestatee Regional Library System, Lumpkin County Branch
collection: Madeleine K. Anthony Collection
box: III-7
folder: 7
More information: About the Digitized Version

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MINING STOCK AS AN INVESTMENT. Does It Pay to Own, Say a Thousand Shares, In a Mining Company?

[T]AKEN [TAKEN] at a time when a company is selling its first issue of treasury shares, it is no trouble at all to look back over the field of active mining operations and count by the hundred, companies that to own one thousand shares of their stock would mean an income of no small amount.

For instance, one thousand shares of Quincy or Tamerack would insure you an annual income of nearly $6,000; one thousand shares in the Calumet and Heckley would pay you about $33,000 annually.

The Alaska Treadwell pays right at $1,500 on each one thousand shares, while the Homesteak of South Dakota, pays $6,000, and so on. In fact, the New York Engineering and Mining Journal of February 17th, gives a list of two hundred and thirty-six mines that to own one thousand shares in any one of them would make a very respectable income.

Increases Your Capital.

There is another very important side to consider in purchasing the first issue of treasury shares, and that is the immense increase in value of the shares as the mine develops and becomes a regular dividend payer. As a rule, a

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company sells its first issue of shares very low, so if one estimates from a basis of first cost, they can enumerate companies on every hand, the shares of which have advanced from 200 to 500 per cent [percent] on actual cash invested. The buying of treasury shares, when they are being sold at a discount by good reliable companies to raise funds to develop their properties, furnishes the opportunity of a lifetime to make an investment that may make you a rich man, even though your investment be a small one; hundreds of clerks in stores, railroad employees, and even day laborers that have invested their savings in this way, are to-day [today] millionaires.

Mining at the Head of All Other Investments

Were it necessary to substantiate or prove anything we would gladly give you the names of those who knew and made use of their opportunities, but knowing that the public generally and intelligent investors in particular know that desirable mining investments are at a premium, that where mining is conducted on cold-blooded [coldblooded] business principles, there is no other industry that can "hold a candle" to or compare with the returns on the investment.

America's Mineral Wealth.

Extract from the New York Engineering and Mining Journal, says: "Over $1,100,000,000 worth of products taken from the ground in 1900."

The total amount of dividends paid by two hundred and ten companies allied with the mineral industries of the United States in 1900 was $130,941,000. This large disbursement places mining among the most profitable of the

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country's industries." There are also many private corporations that do not report their dividends, and these, if added, would bring the grand total paid to stockholders in dividends to a very large amount, unequaled by any other industry in this country.

What An Expert Placer Miner Has to Say.

DAHLONEGA, GEORGIA, November 14, 1901.
Dahlonega Gold Mining and Milling Company:

GENTLEMEN: -- I am glad to give you information concerning the gold lands that you have recently purchased. I was born within a mile and a half of these lands and have worked in placer mining in this neighborhood for twenty-five years. There is over two hundred acres of placer on your lands. As you are aware, I put down a number of pits twelve feet wide through the gold-bearing gravel to bedrock to prove that this entire tract was gold bearing. We found the rich gold-bearing gravel to be from two to four feet deep. I did the panning in all the pits and found them to run about the same, the assay averaging $5.80 to the square yard. To make a long story short, gentlemen, there is millions in your placer alone, and the river bed [riverbed], which is over a mile long on your property, is full of gold. There are dredge boats working in the river both above and immediately below your property, but your part of the river has never been touched. The hills on both sides of the river are full of quartz veins, bearing gold in paying quantities from grass roots down. If any of these statements are questioned, let the doubters come and see for themselves.

[Signed] T. J. NORELL

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Judge John Huff, Expert Mining Man.
County Judge
-- of --
Lumpkin County.
JOHN HUFF, County Judge. November 22d, 1901.
The Dahlonega Gold Mining and Milling Company:

GENTLEMEN: -- I am in receipt of your recent inquiry asking my opinion in regard to the "Brier Patch" property and other properties owned by your Company. In the outset, I will state that I have known the property called the "Brier Patch" for more than forty years, and have always regarded it as a very fine proposition as a gold mine. I have been a miner all my life; when I was quite a lad, only about fourteen years old, I was thrown on my own resources and it became the duty of myself and a brother just two years older than myself to raise a family left by the death of our father and mother, and we resorted to the gold mines around Dahlonega, out of which to make our living. All the time except two years of my life up to the beginning of this year, I have worked in the mines around here; the two years above referred to I spent in California soon after gold was discovered there. As I said above, the "Brier Patch" is, in my opinion, one of the best propositions in Georgia, for it is not only a valuable placer mine, but it has on it and running through it a soft or saprolite belt similar to the belt that is known as the famous Barlow mine, which I had the honor to be the superintendent of for thirteen years, and out of which I took more than a million dollars worth of gold bullion for the owners. Your properties lays [lay] about one mile south of this mine in the same belt.

In conclusion I wish to say, that I wish the Company much success, and I feel sure that when they get their mines in good working shape that an abundance of gold will be produced by its properties. Again wishing you success, I am,

Yours very truly,
[Signed] JOHN HUFF.

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A project of the Digital Library of Georgia in association with the Lumpkin County Library, Chestatee Regional Library System as part of Georgia HomePLACE. This project is supported with federal LSTA funds administered by the Institute of Museum and Library Services through the Georgia Public Library Service, a unit of the Board of Regents of the University System of Georgia.