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Show pnration, that merged the Mayflower and Silver King properties. The output from the Mayflower is regarded re-garded as of sufficient consequence t insure in-sure dividends on the stock of the com ny and the Silver King production when work starts up will not be insignificant by any means. George P. Canis. Salt Lake, October 8. - Since the Francklyn scandal and the change in management, effected through the efforts of Sir Bache Cunard and his friends in England, the Horn Silver's affairs have been in safe hands. At the regular annual meeting of the stockholders, held at Frisco last Tuesday, the seal of approval was set on the manaare-nient manaare-nient by the re-election of A. C. Washington as president and the continuance of the old directorate. Manager P. T. Farnsworth of course is to be retained in his old position. Few properties can make a better showing than Horn Silver. With the price of the white metal declining all the time, it is a test of the value of the mine that its stock should keep up so well. There are only three companies in Utah, out of the number that are known or regarded re-garded as public properties, that are dividend divi-dend payers at present. These are the Daly, Ontario and Horn Silver. This trio is likely to be increased to a quartette before long. The new candidate is the SILVER KING COMPANY of Park City. That was incorporated only a few weeks ago. While the new company is not obliged to declare its dividends, or take the public into its confidence as to the amount of its profits, there is every reason to believe that its dividends divi-dends will be open. This ought to create some movement in stocks, especially so far as trading in Silver King is concerned. The nucleus of the Silver King corporation corpora-tion was the old Mayflower mine. On account of the prolonged litigation over that property, it has come to be well known to the general public. But the Mayflower May-flower needed no advertising outside of the record it has made for itself as a producer. Being closely held and a strictly private property, the profits from the Mayflower I were unknown save to those among whom a divy was made. Proof that its earnings were large is attested at-tested bv the fact that during the summer a Republicans and Populists in this inter-mouutain inter-mouutain country, through fervor, are making mak-ing too much talk about the white metal, if the reports that come from the other side of the Atlantic are to be relied upon. A case in point. Utah was visited this week by the most eminent me tallurgist in all the world. If he isn't a friend of silver he ought to be. At present he is the general manager of a mining company, whose production is ELEVEN MILLIONS FINE OUS4'3 OF SILVER a year. That is the output of the Broken Hill company of New South Wales. The gentleman in question, Dr. Herman II. Schlapp, is also a native American and remains a citizen of this republic. He has j ust returned from a six months' vacation and business trip to Europe. AVhile there he visited all the principal mining centers and naturally posted himself as to the prospective status of the white metal, as viewed by financiers as well as those who are interested in its production produc-tion for the great company over whose mines and mills he administers is an English corporation. Dr. Schlapp's views onght to count for something. Well, ho says that the feeling across the water is that all the nations of Europe will stand back and do nothing towards the remonetization of silver, if there is any possibility pos-sibility that Uncle Sam will take on his own shoulders the responsibility ot rehabilitating rehabilitat-ing the white metal. Dr. Schlapp further said that all this agitation agi-tation of the silver question in the United States did more harm than any possible benefit ben-efit that could be derived. He expressed the conviction that nothing praciical would result from the monetary conference. This is a weighty opinion. While speaking of Dr. Schlapp, one incident inci-dent of his visit to Utah must not be forgotten. forgot-ten. The only district in the territory he visited was Park City. He expressed himself him-self as specially UTAH WEEKLY REVIEW. Old Jordan and Galena.at Bingham, headed the procession this week with a new strike to its credit. A big ore body was encountered encoun-tered on the 100-foot level. The extent and value of this new deposit has not yet been determined. But it is gratifying that Utah's largest shipper should experience good luck so soon after the completion of the new mill built to replace re-place the one that was burned. Like the other Bingham mines, the Old Jordan and Galena ore is a variable quantity. The history of its operation has been attended by more surprises, good and bad, than is usually the case in profitable mining. There have teen times when the vein . pinched out or narrowed down to a few inches, and then the ore bulged out again, after ruuniug a short distance, to as much as thirty feet in extent. Although an incorporated company, little If any Old Jordan and Galena stock ever gets into the market. The Hoidens have bought It nearly all in, so that the property is now strictly a private one. SUCCESSFUL: MANAGEMENT OF THE HOLDENS l as to a certain extent been aided through the pu.icy of leasing grvuud. Only last week some leasers were handsomely rewarded for inteliigeui prosuect work and the value of tins whole property enhanced as a consequence. conse-quence. Silver men were elated, of course, over the intelligence printed in last eveuing's Times of unusual activity that characterized tradiug in silver certificates on the New York 'stock exchange. It is encouraging to real such reports a that and to know that 100,000 ounces bhould change bauds at to 85. But too great store should not be set by such iueidenls. considerable amount of MONEY WAS DISTRIBUTED among the partners. What it was in the aggregate is merely a matter of conjecture, 1 but the fact remains that some of the men most heavily interested in the Mayflower have been very flush for a few months back, j During the pendency of the big suit, the I receipts from the shipments of ore which j were continued throughout the period of litigation were held by order of the court Large amounts were paid in on that, account. ac-count. When the suit terminated in favor of the Mayflower there was probably a distribution of the money held by the court This was undoubtedly the source from which the dividends came. The Mayflower was capitalized and the 150,000 shares of its stock held by the original orig-inal owners, not to exceed half a dozen in number. Thomas Kearns 'held about 50,000 shares, Dave Keith 25,000, John Judge, who died recently, owned 25,000 and the remaining remain-ing 50,000 was distributed among two or three others. The (history of the Silver King is familiar to all local mining men. It was the property proper-ty of Kearns, Keith and Judge. While working the Mayflower, all the money they got out of it was spent in prospecting pros-pecting the Silver King. All of these men were noted for their PERSISTENCY, PLUCK AND POSITIVE VIEWS They thought they bad a good property and went ahead and spent a fortune in opening open-ing up the Silver King ground. Working on a theory or influenced by certain cer-tain indications, a shaft was sunk to a depth of 800 feet or more before ore of any consequence conse-quence was encountered. They are supposed to have struck it rich. The Silver King was bought some months since and its name given to the new incor- - ..' , PLEASED WITH THE MARSAC MILL and the way it is run. This is praise from Sir Hubert One object of the extended tour of the eminent au'hority on matters relating to ores and their treatment, and the principal one, so far as the business par, of it is concerned, con-cerned, was to inspect the great silver mills and reduction works and to study their plans and methods employed. That Utah has works that win enconiums from such an expert is a matter of pride. But it is not alone in the milling facilities that the Daly and Ontario are distinguished. A recent report of the management of these properties shows that the product of the Ontario for the past nine months aggregated aggre-gated 594,453.95 ounces of silver and the value of the ore was $411,973.14. Tbe dividend paid Sept 30 last which was number 19G made the aggregate of profits disbursed to the stockholders during the present year, $075,000. The total dividends divi-dends to date amount to $13,100,000. The Daly dividends now number 67 and its regular monthly dividend for September of $37,500 just half that of the Ontario made a grand total of $2,550,000. Daly production for 1892, so far, has been $125,02L15, in su phides, 334,003 ounces of bullion and $227,255.01 for the value of the ore. Then there is the great HORN SILVER MINE, whose 6teady production of 2000 tons a month has enabled it to keep up its stated quarterly dividends of 12 cents a share. Not more than two years ago Hjrn Silver stock was down close to $2; now it stands firm at $3.65. Certain credit for this satisfactory condition condi-tion attaches to the business-like - 'methods and good mining methods of the adminis-tion adminis-tion and superintendence of the company and its property, i , The cause assigned for this sudden jump does not, by any manner of means, indicate 'that there is an upward tendency or EVEN A STRENGTHENING OF THE MARKET. Friday's purchases are said to have been due to the hopeful views expressed by Jesse .Selignian, special commissioner of. the United State, who has just returned from Europe, in regard to the outcome of the international in-ternational monetary conference. While BanKer Seligmaa is a safe and conservative con-servative guide and adviser on matters iiuan-cial, iiuan-cial, it must not be forgorten that there are several things that might or might not intiu-'euce intiu-'euce his judgment It would bo natural that Mr. Sellgman 'should exhibit sympathy for the white metal. Part of his wealth was amassed through operations on the Coinstoos. lode, in shares and by divers other ways, when he was a resident on the Pacific slope. Mr. Seligtnan, again, is a strong partisan. He was one of the warmest friends of General Grant, and since the great captain vacated ,the White House, Mr. Seligman's views on questions of finance have been sought by every executive of the Republican faith. Mr. Selignian HOPES FOB SUCCESS OTt THE CONFERENCE that is to convene at Brussels on November 22, not alone because it was proposed and brought about by the present administra-, administra-, tion, but the plau may perhaps be regarded as a child of his own. In New York. Mr. Selicman is credited .with more or less of responsibility for this approaching conference. While it may havo no weight in the matter mat-ter at all, it may be mentioned in passing that Mr. Scligman has a son in Montana largely interested in silver production. Such a transitory thing as a fluctuation in silver, even on the right side, must not be unduly magnified. |