- "Thar's gold in them thar hills": Gold and Gold Mining in Georgia, 1830s-1940s
- Prospectus of the Dahlonega Gold Mining and Milling Co.
- Dahlonega Gold Mining and Milling Company
- Date of Original:
- Dahlonega Gold Mining and Milling Company
Gold mines and mining--Georgia--Dahlonega
- United States, Georgia, Dawson County, Chestatee River, 34.2870444, -83.9246261
United States, Georgia, Lumpkin County, Dahlonega, 34.53259, -83.98491
- Prospectus of the Dahlonega Gold Mining and Milling Company, probably published in 1902. The pamphlet describes the property owned by the company and the processes of dredge mining and placer mining. It presents a variety of appeals to attract potential investors and convince them of the worth of the land and company, including two testimonials formatted as letters. The Lumpkin County Library's copy is missing pages 11-14.
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.
- Local Identifier:
- Metadata URL:
- Digital Object URL:
- Bibliographic Citation (Cite As):
- Cite as: [title of item], [title of series, if applicable], Madeleine K. Anthony Collection, Chestatee Regional Library System, Lumpkin County Branch, presented in the Digital Library of Georgia
- 23 p.
- Original Collection:
- Manuscript held by the Chestatee Regional Library System, Lumpkin County Branch, Madeleine K. Anthony Collection, box III-7, folder 7.
- Holding Institution:
- Lumpkin County Library
DAHLONEGA GOLD MINING & MILLING CO. [COMPANY]
PROSPECTUS OF THE Dahlonega Gold Mining and Milling Co. [Company]
Incorporated under the Laws of the State of Georgia
CAPITAL STOCK, $2,500,000.00. SHARES $1.00 EACH
ROBERT S. DISNEY, Vice-Pres. [Vice President]
SIMEON P. SHOPE, Sec'y [Secretary] and Treas. [Treasurer]
CECIL SOVEY, Ass't [Assistant] Sec'y [Secretary], at Mines.
WILLARD I. RUSH, General Manager
JOEL T. MILLER, Sup't [Superintendent] Mines
HARRY B. TREGENT, Ass't [Assistant] Sup't [Superintendent]
BOARD OF DIRECTORS: SIMEON P. SHOPE, ex-Judge Supreme Court State Illinois, Chicago.
WILLARD I. RUSH, Mining Man and Capitalist, Kansas City, Mo. [Missouri]
JOEL T. MILLER, Merchant, Auraria, Ga. [Georgia]
ROBERT S. DISNEY, Real Estate Investments, Chicago, Ill. [Illinois]
THOMAS R. CRAVENS, M.D., Chicago, Ill. [Illinois]
MAIN OFFICE: 100 WASHINGTON ST. [STREET], CHICAGO, ILL. [ILLINOIS]
BRANCH OFFICE: AURARIA, GA. [Georgia] (AT THE MINES)
County Seat of Lumpkin county. In 1838U.S. Mint was located here. Up to the breaking out of the civil war $6,106,596.00 was coined mostly in half and quarter eagles. It is estimated that fully as much more gold produced found other markets.
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Status of Company.
[T]he [The] Dahlonega Gold Mining and Milling Company of Auraria, Georgia, is a corporation incorporated under the laws of Georgia. Its capital stock is $2,500,000, fully paid and non-assessable, and divided into shares of one dollar each. There is no preferred stock or bonded indebtedness, nor is there any litigation pending or prospective.
Property of Company.
The Company owns in fee simple and by perfect title, 710 acres of thoroughly proven gold-bearing land, 670 acres of which lies in one compact body, and in the very heart of the "Gold Belt."
The Valley Placer.
Almost in the center of this property lies a beautiful little valley, comprising between 200 and 300 acres, near the center of which flows in a southerly direction the Chestatee river. On all sides of this valley rise high hills and mountains, the character of which speak volumes to the trained eye of the miner, for everywhere does he see indisputable evidence -- ("upheaval," volcanic "blow-outs," etc. [et cetera]); that "tell-tale" so true the presence of the precious metals -- with "pick and pan" he has proven, to the utmost satisfaction of the present Company, these mountains from grass roots down to be one vast network of rich gold-bearing veins, that the little creeks and branches had for ages been wearing and washing the gold from these mountain sides down into the valley below -- the natural catch-basin for this yellow treasure.
A Most Thorough Investigation by the Company.
This company has spent over two years and a great deal of money in prospecting and investigating this property. In the valley alone, they have had many pits put down to "bed rock [bedrock]," under the supervision of the best mining talent. The gold-bearing gravel was found to be nearly three feet deep over the entire valley, and by actual assay to average $5.80 in gold to the cubic yard, which absolutely eliminates every feature of uncertainty and reduces the amount of gold in this great placer to a mathematical problem, which computed, amounts to over $5,000,000. By addressing W. S. Yates, Atlanta, Ga. [Georgia], State Geologist, anyone can get his report on the gold deposits of Georgia, in which he speaks of this placer by the local name of "Brier Patch."
A Fortune in the Chestatee River.
That there is millions of dollars in gold in the bottom of the Chestatee river, which runs through this property for over a mile, is evidenced by actual tests made and the fact that dredge boats have for years been taking out immense quantities of gold up to the very line of this property.
The Saprolite Deposits.
Nowhere in the Gold Belt of Georgia do the saprolites (rotten rock) that accompany the quartz veins and cover the sides of the hills and mountains on this property show more gold. Sufficient prospecting and development work has been done to
VALLEY PLACER "Brier Patch"
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show that they will average, for a mile at least, over five hundred feet in width. (See cut showing saprolites, on outside cover).
Underlying Quartz Veins Carry Gold.
It is a rule without exception in this district, that the veins underlying the saprolites correspond in size with their out-croppings [outcroppings] on the surface. This being true, the removal of these saprolites by hydraulic mining will disclose the biggest gold veins yet discovered in the district.
Value of Saprolites.
Many assays, pan and mill tests, show these saprolites, exclusive of quartz veins and rich shoots, to be worth more than a dollar per ton.
Profits of Saprolite Mining.
With a hundred miner's inches of water one thousand tons can be mined, sluiced and milled daily. The cost of mining saprolites by hydraulics does not exceed fifteen cents per ton. The profits which this method of mining will yield can readily be computed; the width of the "pay dirt" can be measured accurately and its value definitely ascertained by pan amalgamation and by mill test.
The saprolite deposits of this Company are so vast in extent that the profits to be derived therefrom will be limited only by the capacity of plants which will be hereafter constructed.
Cheapest Mining Known.
There are few localities in any country where mining
can be carried on this way, and it is the oft expressed conviction of competent and experienced hydraulic engineers that no mines in the world are so favorably situated for mining by the hydraulic method.
Company's Water Rights.
As can be readily seen, this Company has an abundant supply of water, the Chestatee river running for over a mile through this property, and is capable of furnishing all and more water than can possibly be used.
Extent and Value of Quartz Veins.
The numerous quartz veins on this property have never been worked, except in places near the surface. Enough has been done, however, to show the existence of immense bodies of ore, varying in value from $3.00 to $50.00 per ton, and accompanied by numerous shoots of high grade sulphurets [sulfurets], all of which grow richer as greater depth is reached.
Tons of Soprolites [Saprolites] That Can Be Handled Daily.
While, as stated, with one hundred miner's inches of water, one thousand tons can be milled daily, this Company have in the Chestatee river water to increase this tonnage many fold, and as it is the Company's purpose to erect a fifty stamp mill, which will easily separate with water twenty tons of the bulk into one ton of mill stuff and enable them to handle at least five thousand tons.
DREDGE BOAT -- Taking Gold out of the Chestatee River
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be determined and the competency and honesty of those in its control ascertained. The natural conditions are such that the Company is warranted in saying that the present project rests upon a basis as secure as that of any other industrial enterprise. This claim is susceptible of proof. Investigating investors
PANNING GOLD IN GEORGIA will be given every opportunity and accommodation by those in charge at the mines to test the truth and statements contained in the foregoing pages.
Knowing that many questions arise in the minds of intelligent investors, and that all pertaining to this project from the earliest conception to the present time should be interesting.
Note, viz [videlicet]: That this property has been handed down from father to son for over three generations, and that one of the present owners is nearly 80 years of age; he is an experienced miner, having made three trips to California during the great gold excitement of '49 , returning home convinced that he had in his Georgia mine a better thing. He has worked his Georgia property ever since in a small primitive way, more with a view of ascertaining its great possibilities than the extraction of its riches. Notwithstanding, in this manner he has made himself comparatively a rich man, and it was not until within two years that he finally yielded to the importunities of his children, either to mine by modern methods, involving the expenditure of a large amount of money, or sell. His absolute faith is further most practically proven from the fact that he has retained an interest in the Company, as well as a directorship.
This Company desires additional capital to open up its great placer, build one or more dredge boats to operate in the river belonging to the Company, to erect a 50-stamp mill with suitable appliances for treating the ores, install pumping plants and construct reservoirs.
FAMOUS BARLOW CUT OUT OF WHICH OVER A MILLION AND A HALF DOLLARS IN GOLD WAS TAKEN.
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
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 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
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
Judge John Huff, Expert Mining Man.
-- of --
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.
PRESS STANDARD PTG. [PRINTING] CO. [COMPANY] OF