“Let me propose Harvey Dartmoor for secretary,” said the señor, entering into the spirit of the moment.
“And now,” Hope-Jones said, “we will name Señor Anton Cisneros vice-president and general superintendent of all our properties.”
“Thank you, gentlemen,” said the Peruvian, doffing his hat. “I only hope the stockholders of the corporation will be of your mind.”
“The stockholders! How can they change our election?”
“You will have to sell stock in order to work the property, and those who buy shares will have a right to vote.”
“Certainly. But cannot we hold the majority of shares?”
“I am glad to hear you say that. If we find anything nearly as valuable as the old Indian claimed, it would be a pity to let the property pass out of our control.”
“Tell us something more of the mining laws, won’t you?” asked Ferguson. “In speaking of the recent enactment, you stated that ‘strangers should be subject to all the obligations of natives.’ What does that mean? Is the taxation heavy?”
“On the contrary, it is very light, just sufficient to meet the expenses of the government mining bureau. The tax is fifteen dollars a year for every mine,—gold, silver, nitrate of soda, salt, petroleum,—no matter what it may be.”
“And how would we ‘prove a claim,’ as they say in the States?”
“Did you inquire in Lima whether any mines had been reserved in the locality where we intend prospecting?”
“No, señor, for we did not wish to attract attention to that section of the state.”
“You were doubtless right. It was perhaps unnecessary. In all probability no one has sought treasure in that region. Still, that point must first be definitely settled. The government issues a quarterly statement, called the ‘padron,’ in which are given the boundaries of all new claims. These padrons are indexed, and it is possible to learn the location of all mines in a given region. If we discover valuable properties where old Huayno said they were located, or anywhere else, we will at once stake off the land, just as is done in the United States, then return to Lima, examine the padron index, and if no one else has a claim we will notify the Deputy Commissioner of Mining that we desire title.
“He will issue us a document, upon our payment of the first year’s tax, which will be similar to the ‘patent applied for’ paper given in the United States. Within ninety days after receiving this, it will be necessary to return to the mine with one of the officials of the mining department and an official surveyor, whose expenses for the trip we shall be compelled to meet. These will fix the actual boundaries, and upon their return to Lima a document will be issued giving us the right to mine the property, and guaranteeing our sole possession so long as we pay the annual tax.”