Show 0 THE SIGNAL PEAK reaper richfield utah the annual meeting of the stockholders of the signal peak mining company was held in Rich geld last monday for the man purpose of electing officers for the ensuing year D D hanks of eureka was elected president al rowley of kimberly secretary and treasurer J H nelson general manager all with W C badge of kimberly constituting the board of directors this was a reelection election re of the old directorate the reports of the officials of the general and financial condition of the company and of the work accomplished during the past year were most satisfactory the management of the signal peak company realizing that an overdrawn or misleading public statement was often very detrimental to an undeveloped property has always confined itself to very close conservative serva tive information at the present time conditions are such however that the property has a showing and a merit to justify getting before the public more prominently than it has in the past while it was expected in beginning development work that something like feet of straight tunnel would be necessary to strike anything revealed on the surface a ledge of vein matter carrying important values was encountered at a distance of feet this vein matter was struck in running around last spring and owing to the water gatei condition could not be followed the company kept pushing its tunnel along to the region underneath the surface crop pings and it is expected that within six weeks or two months the first of the surface exposed veins will be tapped two shifts are advancing at a rate of five feet a day the vein which has already been cut is a true fissure between as well defined walls it carries an average as can be seen anywhere value of about 10 per ton in gold and silver in about another month it is believed the water will have been drained out so s 0 that this ledge edge can be followed and it will be further explored from the organization of the company its stock has gone almost exclusively into the hands of men familiar with the property and its most promising future men whose personal judgment of a mining proposition induced them to take this stock no assessment has ever been found necessary the proceeds from the sale of the stock has furnished the funds for development several months ago the stock was withdrawn from the market then selling at ten cents per share it is a noteworthy fact that the shifts now employed of practical experienced miners have voluntarily offered to take all the stock now at 25 cents per share thoy they could possibly spare out of their wages the alie general ver verdict dict of unbiased persons is that the signal peak is one of the most hopeful mining ventures on gold mountain |