Placer, Oregon

History

Placer was unofficially established in 1885 as "Tom East" and platted in 1898 by pioneer landowner L. M. Browning, who had arrived in the area in 1870. Tom East was an early southwest Oregon miner, who came to the U.S. from England as a young man. He was mining in Josephine County by 1855, and at least three Tom East Creeks and one East Creek were named for him. In the 1870s, he prospected and mined along the Rogue River, eventually settling on Brushy Bar near the future site of the community of Marial, where he lived until his death in 1897.

The first post office at this locale was applied for in 1893 by Newell Fillmore Inman with the name Tom East, but the Post Office Department changed the name to "Placer". Placer was named for the placer mines in the area. Placer post office ran from 1894 to 1924, with mail then going to Leland.

Placer was established as a supply center for the Tom East and Upper Grave Creek mines and was on the stagecoach line between New Leland and the Greenback Mine. In its heyday, Placer had two large hotels, two large mercantiles and three saloons—the only ones on Upper Grave Creek—as well as other small businesses, including a newspaper edited by Nellie Anderson. Placer grew rapidly with the development of the Columbia placer mine and the Greenback quartz mine, which was the richest mine in Oregon by feet of tunnel mined.

In 1930 a H.W. Webber sold shares in COPPER KING MINING for $1000.00 for a 1/20th share at Placer, Oregon.
Agreement: On this day and date (May 14, 1930), I, H.W. Webber do sell and convey to "buyer" a 1/20th share, valued at $1000.00 (one thousand dollars) in my option on the Copper King mining property, to be paid by said "buyer" as follows:-
"Buyer" agrees to perform certain labor on the property at the rate of $142.50 per month, of which he shall receive 25% in cash from the co. and the other 75% shall be applied as payment on this $1000.00 share, and he does hereby agree to perform said labor to the best of his ability, and in a manner to compare favorably with any other men of like ability, and at all times to display loyalty to the Company, and the Company takes nor assumes no liability for said labor other than above.
In case this property shall be sold said "buyer" shall share in proportion to his 1/20th share at any time after this date. It is hereby expressly understood that said "buyer" becomes the owner of said 1/20th interest in this company's holdings on this date and by this instrument, and shall retain this ownership so long as his labor is applied in payments on this share, as outlined above.
If at any time either the said "buyer" or the company shall become dissatisfied and desire to sever connections, he shall retain whatever interest shall then be earned at that date by reason of his labor, based on his payments on the said share of $1000,00 of the total share of ownership. Monthly salary was $142.50 including $37.50 'board' per month.
Of the $142.50 monthly salary 75%, or $106.875, was credited to the 'share' price. The 25% cash income was paid at $5.00 per week and then a lump sum balance, of about $15.625, was paid at the end of the month.
My source: I have two such 'signed' agreements from two separate men. Along with their 'signed' agreements are their itemized salary forms; aka "Requisition Blank". One of these two men was married and his wife worked and was paid as a cook; for the mining operation(?).

Note: all three of these people worked from May to September in 1930. I have no idea as to the reasons for this.