OCR Text |
Show flMning Comment, Considering the large amount of capital that is continually invested in mining ventures by local investors, it is surprising that so little preference is given to treasury stock over stock that has already been issued. In a sense, all shares of the same company are alike just as the old lady who lost some turkeys and attempted to like replace them by driving home-number from her neighbors flock, tried to explain her unusual procedure by saying,' Well, a turkey is a turWhile a share is a share, it key. makes a great deal of difference where the money goes with which it is purchased. It makes so much difference in fact that many a mining venture has ended in failure because the purchasers were either ignorant of the distinction or were foolishly negligent in using in this connection the knowledge they possessed. When mining companies are organized, the incorporators usually divide among themselves about 60 per cent of the capital stock as compensation for their former interest in the companys grounds and their efforts in perfecting the incorporation, while the remaining 40 per cent of the shares are set aside as treasury stock for the purpose of raising funds with which to develop the a . , S.. A Delightful Flue to Visit A Profitable Place to Live Greatest Play Ground on Earth Famous Places which everypne wants to sea' Invest in a ticket te .CALIFORNIA and secure rich dividends In HEALTH, PLEASURE and WEALTH. The Incorporators being their own ' paymasters, it is only realize natural that they would a handsome profit from the transaction could they dispose of all their holdings for the price at which the shares are held. The investor therefore, who buys incorporators stock merely gives the seller a profit, but adds nothing by his purchase to the value of the property. .. When treasury stock is purchased means are provided for working the proposition, the only method by which its value and consequently the value of the stock can be increased. The same sfete of affairs exists when stock is purchased from a pi;ior Investor instead of from the company, as the purchaser is relieving the seller from his risk and contributing nothing toward the advancement of the property in which he has procured an interest. Buyers ordering stock should insist on receiving treasury stock so long as any of that class remains Unsold, and they should see that their insistance is property. . complied with. An inspection of the stub in the secretarys book before the certificate purchased is signed for or paid for will show what manner of stock is being delivered. The instances are not a few wrhere stocks have been sold at high pries by shareholders while the treasury stock, the real life of the mine, was not dealt, in at all. The advance of the price of the shares added nothing to the value of the mine and provided nothing with which to improve it. The shares of a certain property some months ago brought several dollars each, but the treasury shares were not sold. Later the prices broke and the shares brought but a few cents each, and an assessment followed. The only way for an investor to get action on his money is to have it expended in actual work on the ground, for any amount of mere stock jobbery would not make a mine if the speculative transactions were continued for all time. If a buyer in a prospect has not the firmness to see that his money goes where it .will be spent for mine work he is too weak to make the business profitable. As a rule, there is originality in making a mine, and there is weakness in buying another persons shares in a prospect, for the ether person is likely to be posted as to the value of his holdings. These precautions are especially applicable in undeveloped mines, those that have not reached a profit making, state, for often a few feet more work in tunnel, shaft or drift of the value of but a few dollars makes the wide difference between failure and success. The trend of this advice is to enrich the buyer, rather than to provide a profit for the seller. It would not, indeed, be inconsistent to pay more for treasury stock than for stock held by individuals. J Jt Captain T. F. Singiser, manager of the American Flag, which occupies a favored position among the Park City bonanzas, being between the Silver t, has returned King and the from an eastern trip of five weeks duration, in the interest of his comby pany. Work is progressing in the shaft, which is now down between 500 and 600 feet, at the rate of three feet a day. Indications are favorable for a period of production at no distant day. From this property samples of Shipments are promised henceforth with regularity and frequency. An incline shaft is down 400 feet on the vein, but awaiting better equipment ore is now being taken from the 100 foot level. The ore now headed for market carries about 60 per cent lead, $4 in gold and 14 ounces silver. A good force of men has been employed during the winter and the number w. now be materially increased. Jt Manager F. A. Earls has returned from an Inspection of the Utah Southern at Milford. The shaft is now down 500 feet and in a drift on that level a stringer of high grade copper ore has been encountered. Jt Jt The Lucy L., situated in the Clifton district, Deep Creek country, and managed by Frank L. Wilson, will soon resume work which has been suspended for a time on account of impassable roads. This property is presenting some unusual showings. A shaft recently sunk 20 feet in a well defined vein 30 feet wide is all in ore, and at the bottom an average of 23 per cent copper and fair values of gold and silver are found. In a tunnel across the vein some distance from the shaft samples of red oxide of copper are found which carry 73 per cent of the red metal and $12 to the ton in gold. In the same locality at the Christmas group, owned by Dr. Hazel and other Salt Lakers, a shaft down 150 feet has cut through seven feet of ore of which 22 inches are shipping ore carrying high values in copper and silver and some gold. This deposit is under a seventeen-foo- t iron oxide capping. Jt Lakes uu Ocean Reached ; thb ouihem P&xific Company's Lines. . phenomenally, high grade gold have been taken in recent months. ' Jt & eral days in town the present week consulting with the officers and shareholders of the company. The showings in the property are said to be very promising and this contention will be strengthened by the shipment of a number of cars of ore in the immediate future. This property has been worked systematically by assessments according to the original arrangement of the shareholders, all of whom have nluckily stayed by the proposition and have faith in its future. While the management does not claim that a real mine exists at present they feel that such a desirable state of affairs is near at hand. lit With the' improved roads from rePor dMtflptf sat Bhitimw turning spring ithe Four Metals Mines IlMnliri mB si company situated in the Deep Creek country and managed byJGeorge L. No. 201 Main St, StH City. Moats has begun hauling ore to Clover a new station on the Leamington cut. Uii o. R. gray, General Agent. off ou the Oregon Short Line Jt Word has been received from the h Salt company with holdat ings Tonopah, Nev., in which Colonel A. C. Ellis and other Salt Lakers are heavily Interested, that a good strike has been made in that property. The find is reported to have been made at a depth of 300 feet, the ore about $70 in gold and over 200carrying ounces of silver to the ton. Lake-Tonopa- Jt jt The mine equipment of Utah will be increased during the coming month by two substantial additions, the smelter at the O. K. mine of the Majestic company and a concentrator of good dimensions for the Comstock at Park City. These additions are in keeping with the inore creased mineral outputconstantly of the state. - own. J Ji The suit in Federal court of Colonel E. A. Wall against the United States Mining company over the ownership of valuable ore bodies at Bingham has been decided against the company. The value of the property in question is estimated approximately at $1,000,-00The issues of two other cases of a similar nature are now joined, and it is probable that the case already decided may have the effect of settling the others without trial. However, considering the magnitude of the values involved, a continuation of the controversy all along the line is not at all improbable, as the Untied States company cannot afford to surrender so long as there is even a remotd chance to win. 0. Jt Jt Manager B. T. Lloyd of the Copper Mountain company, near Frisco, is making preparations to resume active development of the property. The shaft which is now down 200 feet is being substantially timbered, and with machinery which will soon be installed, greater depth will be attained. Jt jt President Treweek of the Wabash property at Park City announces Shat there :o no cause for discouragement to the shareholders. A depth of some 600 reel nas been reached, and the un Mine Superintendent John Aylward of the Eutonia, in Death Canyon, ity which is owned by Salt Lake parties, headed by E. G. ODonnell, spent sev- Daly-Wes- Mountain, Valley, Rivers, jt uel Newhouse, it is all the more complimentary to his methods of operation and confirmatory of the merits of that gigantic property which now equals its bonanza neighbors of that camp in showings, and will scon join them in the operation of a copper smelter of its . Jt Jt A report released some days ago on the Boston Consolidated at Bingham, states that the party who examined the property never saw so much ore In one body, a property so well or so little barren territory. developed, Considering that this report was the result of road. a move in opposition to Manager Sam FOR THE CURE OF DRUNKENNESS, OPIUM CIGARETTE HABITS 11 No confinement, no publicity, no ab- rupt shutting off of either liquor or opium. Tbe only treatment ndopted by the United States government for use In national and state homes for soldiers and sailors. The only Keeley Institute ln'the state. All others claiming to use Keeley remedies are frauds and Imitators. Ladies treated as privately as at their own home. For terms and literature address THE KEELEY INSTITUTE, or Lock Box 480, Salt Lake City, Utah. |