Note: Prospectus of the Ruby Hill Mining Company, published in 1891. The pamphlet describes the property owned by the company and the processes of hard-rock 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.
Officers of the Company:
P. Morrison….Vice President and Treasurer
A. Jeldness….Superintendent of Mines
On the 16th day of February, 1891, the Ruby Hill Mining Company was incorporated under the laws of Washington, with a capital of $600,000, divided into shares of the par value of one dollar each. All of the stock was subscribed, and property consisting of three mining claims, Adelphi, Mountain Queen, and Mohawk was transferred to the company in payment for stock.
Each stockholder made a contribution to the company of one-sixth of his paid up stock aggregating one hundred thousand (100,000) shares, as a working capital. Excepting the 100,000 shares thus contributed, there is no stock in the market, the stockholders being fully satisfies that there is more profit in developing and working the mines than can be realized from a sale of stocks.
The stock of the Ruby Hill Mining Company is what it purports to be, nonassessable, and is not listed on any stock exchange. In fact this is not a stock operation, but a legitimate mining enterprise to be carried on for the profits the owners believe to be in.
The properties of the Ruby Hill Mining Company are located on Ruby Mountain in the great silver belt of Okanogan County, state of Washington, and about 150 miles northwest of the city of Spokane Falls.
The principal line of approach is from Spokane Falls by rail to Coulee City, thence by stage to Ruby City, a distance of 80 miles. The railroad company’s plans, however, is to extend the road to the mines this year. The climate is very mild in winter for a latitude so far north. The elevation of Ruby City, the principal town and located in the heart of the mining district, is only 1,800 feet above sea level while the adjacent mountains rise to a height of 4,000 to 6,000 feet above sea level.
Geologically the formation of Ruby District can be described to be in most part granite with alternating bands of horn-blendic schists and is evidently of primordial types, probably belonging to the Archian series. The mineral bearing veins of the district cut through this formation obliquely at angles varying from thirty to fifty degrees, thus marking them distinctly as three fissure lodes.
The most prominent of these fissure lodes extends through the mineral zone a distance of four miles and on it is located several valuable mines the most prominent, probably because the most developed, being the famous First Thought and Fourth of July mines, valued at a million dollars or more each.
Within a few hundred feet of the Fourth of July mine and on the same mother lode is located the Adelphi, owned by the Ruby Hill Mining Company. The mineral bearing vein is uncovered at different places on this claim and the development already performed encourages the owners in the belief that it will, by proper work, prove to be as rich as the Fourth of July mine. A shaft has been sunk to a depth of 50 feet on the north end of this location, exposing a large, well-defined vein carrying silver ore of high grade. Adjoining the Adelphi on the west is the Arlington mine, a property of great value.
Directly east of the Adelphi and on a parallel vein is located the Mohawk, owned by the Ruby Hill Mining Co. This claim is the extension of the Woo-loo-moo-loo, well known for the exceedingly rich silver ore it carries. No development work has yet been performed on the Mohawk, but the “croppings” carry ore identical with its famous neighbor, which indicates what may be expected to be found in the vein when depth is attained.
A few hundred feet east of the First Thought mine is located the Mountain Queen, also owned by the Ruby Hill Mining Company. Considerable development work has been done on this claim and a ledge thoroughly mineralized with galena ore rich in silver and lead has been exposed. This vein will be explored to a depth of 1,000 feet by the great First Thought Tunnel No. 4, without cost to the company. Work in said tunnel is at present progressing day and night and as it will pass directly through the Mountain Queen ground at the depth above mentioned, the immense advantage and possibilities resulting there from to the Ruby Hill Mining Company is self-evident to all. It will reach the First Thought vein about 3,200 feet from its mouth and at a depth of 2,800 feet thus making it the deepest mining tunnel in the world.
In connection with this I will mention that the late Prof. J.E. Clayton, who made the first scientific examination of the Ruby District, predicted a grand future for its mines as he believed they would be numbered among the greatest in the land. Judicious development is fast demonstrating the correctness of that well known expert’s prediction.
After eighteen years practical experience in the various mining sections throughout this continent and Europe and after examining this property and studying its great possibilities, as a practical miner, I candidly believe that by practical systematic development, the Ruby Hill Mining Company’s properties will prove only second if not equal in richness and productive value to its rich Bonanza neighbors. Every possible indication and evidence of nature, as presented in the light of experience, fully warrants the foregoing conclusions and predictions.
The title to the property is by deed from the original owners to the Ruby Hill Mining Company of Washington, entirely free from encumbrance, and is absolutely perfect.
Secretary, Ruby Hill Mining Co.
Spokane, Wash. March 21, 1891