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Show TRUTH mining Comment There was little change in the general exlevel of prices on the mining stock which The low basis change this week. was established ten days ago prevailed, without further depression or advances of note. The inevitable slump, both in volume of business, is prices and in keenly felt by the brokers, who, Instead of being able to chronicle up daily sales to amounting to $100,000 or more, have busireduced be satisfied with greatly ness This status of affairs is the nat- ural result 0f .the abnormal conditions which, prevailed on the exchange for when the spirit of several months, wild and a large numran speculation ber of brokers were doing a "blue" business on a white chip, and are now reaping the whirlwind from the hot air sown in the early summe rmonths, the formation of large and meritorious corporations, like the Uncle Sam and helped the hot air peddlers, but Ca-ris- a, when the limit was reached the bankers called in the loans, and good and meri- torious stocks suffered in the general decline. When the exchange musters courage enough to purge itself from the practices and the quesultra-gambli- ng tionable methods resorted to for the purpose of bearing good properties better business may be expected. The right. They are producing at least, and there month a $2,000,000 is no legitimate reason why the present mines are all depression in values and business does The mining exchange has a legitimate field and is a good thing if properly conducted. As it goes now, however, it is scaring away capital more than it is attracting it. To mainstocks at their tain dividend-payin- g legitimate value it is necessary, as things now are, that genuine Eastern investors. who will not be scared out by idle rumors and fake reports, take hold of them. Local Investors who get easily frightened and dump their holdings on the market are partly to blame for the conditions that prevail. They should thoroughly investigate the merits of a stock before investing in it, and when they have satisfied themselves on that point they should stay with it. The stock would not then be at the mercy of everybody who feels inclined to take a shy at it. exist. ' The following are some of the more important mining events of the week: The new mill at he Century gold mine at Park valley, which was put in commission a week ago, is without a fault. It is treating running fifty tons of ore daily. The new dry concentrating mill at the May Day is working like a charm. The first shipment of concentrates reached the city on Tuesday. The Uncle Sam management, said, is now figuring on putting in it is a dry concentrating plant similar to that which has been proved a succes by the May Day. A big strike is reported in the Nancy Hanks property at Bingham. R. W. Sloan has secured an option on 260,000 shares of the: 300,000 shares of the companys stock at 10 cents a share, good ior a year, the first payment to be made on Jan. 1. A foot of fine carbonate ore has been In the face of the drift at ?co,ntered the lilack Bess property in Big Cotton- The capital stock of the United States cornPany has been raised from 10,1.00,000 to $12,500,000. A mill is to be built at the property Samples from the Highland Boy of the King Solomon Mining company, Consolidated of Bingham assay 8.2 per at Deer Creek, Nev. cent copper, 17.3 ounces silver and $1.24 in gold. One sample ran as high as 42 per cent copper. The October output of the Dexter was over $15,000. e ore Another disclosure of has been made in the Uncle Sam. The Things are looking very well at the property never looked better than it at present. The usual dividend Ben Butler and production of both first does of 3 cents a share was declared for this ore- is large. and second-clas- s month by the directors on Wednesday. Century, who rounded up the ground during the summer and looked after the' prospecting' of the ledge, says there is one of the finest showings he ever saw in.the.camp for the .amount of work,conp He is confident the property will show up well by spring. high-grad- - John J. Daly returned to the city Wednesday, after having completed the e Mining organisation of the New of laws the under company, Jersey. Daly-Judg- The company is Incorporated for $150,-0in shares of $1 each. The company owns 200 acres of very promising mineral land. at Park City, from which in years gVme by large quantities of rich ore have been taken. The ground, it is believed, is traversed by the Ontario, Anchor and Daly-Weveins, and is very valuable. 00 The sinking of the shaft on the bash at Park City Is progressing Wasat- isfactorily. The objective point is feet from the surface. 600 In the Lavinia at Alta a breast of ore has been opened up running 25 per cent lead and 25 ounces suver. , st Articles of incorporation of the Goodsell Mining and Milling company, filed in the office of the Secretary of A sensational strike In the Stone CabState, show a capitalization of $350,$00, of a par value of $1 each. The directors in claim at Tonopah was reported on are L. W. Nielsen, Otto M. Nielsen, W. Wednesday. A large body of ore TunReports from the Imperial and Ma- L. Goodsell, B. W. Goodsell, John H. ing $400 to the ton, has been encounjestic copper properties In Beaver coun- Wootton and C.. W. Earl; president, B. tered. The claim is owned by W. H. ty are of the most encouraging nature. W. Goodsell ; C. W. Dickson the OMeara brothers and othEarl; treasurer, W. L. Goodsell; secre- ers in this: city. tary, John H. Wootton. The company the Hot Stuff claim in the AmeriSensational developments are report- owns can Fork mining district. ed from the De Lamar properties at Pi- A lot of 113 tons of ore from the O. K. oche. It is believed the real mother lode mine, below Milford, was sold on of the camp has been struck. The management of the Johhny mine Wednesday on controls showing 39.2 at Stateline is negotiating for the per cent copper, 7.8 ounces silver and erection of a mill to work the ores $5.60 gold, or better than $100 per ton. Sam Williams and S. S. Jones of Pro- from that property. At the same time a lot from the Harvo have acquired control of the Surprise rington & Hickory, ownedof byon the same copper and lead property at St. George. controls company, was disposed E. D. R. Thompson, William M. showing 36.5 per cent lead, 44.6 ounces 2.5 per cent copper and 80 cents The directors of the Daly-We- st Bradley and S. J. Lynn returned Tues- silver, ton. per gold day from a trip to Ely, Nev., made for Mining company have posted a dividend of 40 cents a share, or $60,000, the purpose of inspecting the Ely mine. The California of Park City is shipping copper ore to the smelter at Bingham. . vice-preside- nt, . November 15th, making a total of $1,555,000 paid in dividends by this company. The transfer books will close this afternoon and open again on November 16th. payable They report great activity in the camp generally and very encouraging results from the Ely properties. Construction has begun on the fourth furnace of the Bingham Consolidated smelter in Salt Lake valley. The deep tunnel of the St. Joe mine at Bingham is now in almost 1000 feet. Two cars of ore from the Horn Silver ten is of feet rate The Milner-Gilso- n driven prethe at is ran 27 per cent copper, 10 ounces silver, It being syndicate 15 per cent lead and 60 cents gold to on an a day. paring to carry out experiments the ton. was made of $10,000 Another payment extensive scale in the coking of coal at on the Mining Majestic Tuesday by its mines in Carbon county. A modern company G. Campbell and his to coke oven is being erected at Price, associates onAllan account of the purchase sixteen miles south of the mines. Manager Jones of the American of the O. K. and Harrington-Hickor- y Smelting and Refining company has regroup of claims near Milford. turned from the East. He says the fate Numerous samples of ore from the of the lead market Is in the hands of lead producers and suggests a curCon. Mercur show assays ranging Thomas L. Oddie, secretary and trea- the tailment of production as the best from $7 to $40 per ton in gold, the aversurer of the Tonopah Mining company, means of maintaining prices at a reaage being about $20 a ton. on came In from the mines Tuesday sonable figure. with glowing reports of the condition of the property. The output of the The control of the Elkton ConsoliTonopah for October exceeded $250,009. Francis W. Quinn of Bingham redated Mining company of Cripple ceived news on Wednesday of an imCreek has passed into the hands of portant strike in property in which he Thomas F. Keeley, a Chicago capi- is Interested In the Taylor district, in Eastern capitalists on a basis of for the entire capitalization. talist, has purchased a control of the twenty miles from Ely. SamThe deal was engineered by E. M. De-l- a Montana Consolidated Mining com- Nevada, ore show values of $50 to the of the ples vengue, who has a large interest in ton. conThe Ophir. panys property at to the purchase. be $50,000. sideration was said Pay ore has been encountered in the Marof the of Articles Golden Reef of Frisco and shipments, incorporation Manager B. T. Lloyd of the Copper are expeceed soon to be made. tha Mining and Milling company were Beaver county made a filed at Provo Monday. The company Ranch mine in to the property the early part of is incorporated with a capital stock of trip w the eek. Development work is being The deal by which the Western Ex$40,000, divided into 400,000 shares of the par value of 10 cents each. The vigorously prosecuted, with most en- ploration company becomes the owner show cop- of the old Sloux-Uta- h principal place of business will be in couraging results. asAssays companys mill 33 per cent, with Benjamin. Utah. The incorporators per values as high consummated. The considerare Caleb Hone, Provo, president; 13.2 ounces silver and as high as $17.41 ation is. as stated $30,000. The mill in gold. Joshua Hone, Provo, cost $85,000. Benof Frank Matley and David Hone jamin. R. C. Mills, not an incorporator, Is secretary and treasurer of the R. H. Nichols has returned from IN THE DISTRICT COURT OF SALT company. The corporations owns and Nome, rather disgusted with the Lake County. State of Utah. Elizabeth E. will operate the Martha mining claim, rather disgusted with the coun- Oyler. plaintiff, vs. Jacob Oyler, defendsituated in the Tintlc district, Juab ant. Summons. to in remain and willing quite try county. The State of Utah, to the Said Defendant; Utah. You are hereby summoned to appear within 20 days after the service or this summons upon you. If served within the With a capital stock of $10,000, in The Delta Mining company has been county in which this action is brought, flve-ceshares, the Alabama Mining otherwise, within thirty days after serto operate fourteen claims on vice, d and defend the action; company has been organized to de- formed In the Park Valley dis- and in case of your failure so to do, judgDove creek. four of ment velop the Legal Light group will be rendered you accordtrict, by Dr. J. T. White, Percy Wil- ing to the demand against of the complaint, mining claims, situated in Draper diswithin ten days after service of liams, O. E. Lee and others of this which, trict. C. D. Rogers is president;C. Josummons this under-thupon you, will be filed with work M. and development city, seph M. Smith, the clerk of said court. Tliomns of Coale, and formerly and supervision seceretary, treasurer Nielsen, JONES & COLLINS, the other directors and Incorporators in charge of the Four Aces oftheTintic, Plaintiffs Attorneys. P. O. address. Commercial block. Salt are B. R. Haddock, J. L. Smith, will be continued throughout of winthe Lake City, Utah. Charles Steele and J. W. Burkinshaw. ter. Superintendent Williams $6,-875,0- 00 ... has-bee- vice-preside- nt; com-Nom- e, nt above-entitle- vice-preside- During October the Annie Laurie mill reatod 5390 tons of ore, the largest inThe was over $50,value 000 11 e nt; . |