Stock certificate #3 issued to George Rounds and signed by T.E. Ward as president, and Alfred Carr as Treasurer. Printed by New York Bank Note Company.
United States Investor and Promoter of American Enterprises - 1898
Please advise me whether the stock of the United States Gold Mining & Development Co. is of any value. The company Is located at 31 Broadway, New York city.
Answer: The United States Gold Mining & Development Company, capitalized at $1,000,000, owns $501,000, or 51 per cent of the stock of the Breckenridge Mining Co., Pinte county, Utah, and also owns an adjoining property, known as the Horseshoe. This property is now in course of development, and it is claimed some rich ore has been taken out, indicative of a good paying pruperty. The United States Gold Mining & Development Company is a product of the firm of T. E. Ward & Co., 31 Broadway, New York, which firm owned the Horseshoe property, and the $501,000 of Breckenridge stock, for which, when the company was organized. T. E. Ward & Co. took 40 per cent, or $400,000 of the capital Btock of the United States Gold Mining & Development Co. The balance, or $tW0,000 of stock, was for the development, etc., of the company's property.
T. E. Ward & Co. are now in the hands of the sheriff, on an attachment issued Dec. 24th. Along in September, the firm was in finaneial difficulties, but things were patched up, customers having claims being offered. It is understood, stock of T. E. Ward & Co., the company having incorporated under West Virginia laws, with $1,000,000 capital, at par value for the par value of their claims, am1 also a corresponding amount of the stock of the United States Gold Mining & Development Co. It Is claimed that no stock has been sold below par--$10 per share this settlement of claims against T. E. Ward & Co., latt September, would indicate that such was not strictly true. The property is only in course of development, has no smelter, and par looks like a big price for the shares.
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