Show TAKE OU mi THE IBEX 10 MINE former owners will start to work FORTY FIVE THOUSAND AHEAD companas Comp anys defaults aro are final and compel the loss of all the payments and tile tho wina mount oud and his associates resume active operations erat ions on monday next news of the camps the deal by which the ibex mining Con company ivany acquired temporary possession of the ibex mine in detroit district Is off and on monday next worl work U will bo be resumed by mr R S I 1 mount J all 1 t and his associates to whom the property has haa reverted tills this was stated by mr mount in an interview with a tribune reporter last night to carry out his plan mr mount WllIe avo tor for the property tomorrow to morrow or n next day pew few deals in mining have undergone more vicissitudes than that from which the ibex has just issued the company having procured the option upon it for the development of 0 its resources was begun and since taking possession some borne GOD feet of 0 work has been performed and about 1000 tont jowl of ore marketed that chewed a valuation of 10 gold from three to ten ounces silver allver and 7 per cent copper of the purchase price has been raid and this by a series of defaults beginning on january when only of the payment that we was 9 due was paid Is 13 all forfeited with the in mine inc IN GOOD CONDITION mr mount who visited the property last week reports its ore bodies tar far in advance of production product lon with an improvement pro in their metallic me tallio value as depth haz has been acquired that con convinces vine him that its future Is 9 bright one while the companas comp anys failure to mitt meet its payment after extensions and modifications ot of the original agreement deranges other plans on which he was engaged it 11 la with manifest satisfaction that he takes it back my confidence in the companas comp anys ability to carry out its side bide of the dena was not completely overthrown paid bald he last night until its representatives pave gave a note for against N which aich we drew in a local lank bank presently we were notified that the copany had bed defaulted in the payment of that and then our minds were made up DOWN TO BUSINESS we will take charge now put a force of men upon the mine and begin the production and shipment of ores to salt lake city do I 1 think wo a can make I 1 it t profitable table when tile company failed undoubtedly in the first place wo we N w III load the ores upon the cars but once we will not pay sa 5 tor for hauling to the railroad when we can reach a nearer depot tor for less and we will look after its management ourselves maik what w hit I 1 say any the ibex will yet develop into all that has been predicted for it and while the failure on the part pt the company to make their payments haa bas been cause for some soma disappointment in that ll it interfered with other arrangements all of usi UP felt that we were releasing a big thin thins at a very small price AJAX SPECIAL MEETING tile die board of directors of the alax ajax mining company held a special meeting last night and decided to issue a call lor for a meeting ot of the ilia stockholders on july ath to whom will bo be submitted a proposition to the article providing for assessments that moneys may be raised to discharge the entire indebtedness of 0 tle the company and enable it to proceed more actively upon its le searches this tile board of directors directo rectors contend cannot be accomplished under tile the lo present resent article by which assessments aro are governed and it ad the amendment Is accordingly recommended to the stockholders at the same meeting it was denied that anything more than a pocket afforded found foundation tUon tor for tile report that a strike hai bed been made it was admitted however that in driving through a stratum of hard lime it a pocket had been encountered in III which ores orea of 0 a very cry ine fine grade had been disclosed but which were soon exhausted the running lunning of the drift by which it Is designed to connect with the old workings tit at a depth of 0 feet feel final the surface continues a as does also sinking upon the shaft that will go to a depth of COO feet beet mr jr snyder of park city w who h 0 NN was as in attendance on the meeting last night stated that it was to provide means me a no with which to prosecute those developments and to equip the property with machinery necessary for its economical operation that the increase in the limit of 0 assessment was advocated silver AND LEAD silver was olt off a fraction to CG cents pt arr r ounce lead tho the ore and bullion transactions reached as follows T R jones S co ores 1 bullion KWI wells barmo co shipments pennsylvania sYlvi Lilia bullion W S co hanauer bullion HOT 1400 ores |