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The Pamphlet Collection of Sir Robert Stout: Volume 47

Silver

Silver.

The following has been received under date 29th October, 1878:—

"The Silver Islet people are in full work, having found the vein lost two or more years since. The vein is traced to the mainland, and found to be so rich that it can truly be said that they are quarrying the silver in quantities far exceeding any experience of the past. In three consecutive weeks the Company mined $70,000, $73,000 and $75,000 worth. In the interval they had reduced their stock from $6,000,000 to $1,000,000, and given a mortgage to New York capitalists for $400,000, bearing interest at 8 per cent."

This mortgage will be paid off at once.

The Duncan mine is also doing well, and the mining interest of the Thunder Bay region is looking up. The Prince Location, not far from Prince Arthur's Landing, is to be worked through the winter.