| Show THE OVERLAND GOLD MINING COMPANY The property of the Overland Gold Mining company is located at Sunshine Sun-shine Utah and consists of twelve patented claims and a cyanide mill having a leaching capacity of 600 tons per day The Overland should ultimately become be-come one of the great mines of Utah but up to the present time the large Investment made in It by Its s Boston owners has yielded them no profit The property has never had a chance to prove Its worth and Is now in the hands of E W Clark as receiver Some years ago when the mill Was finished and all ready lot operations the property was started heavily in debt Later a new management attempted at-tempted to Improve its affairs and succeeded with the facilities at hand In bringing the worked tonnage up from 2000 tons per month to 7000 tons per month The latter tonnage being still Insufllclent to meet the views of the owners It was resolved to put the plant in condition to hoist and treat at least 16000 tons per month To raise the necessary funds for this work the property was bonded for 150000 and that amount of money was raised for the payment of debts and enlarging the plant The sum of the debts proved to be greater than was anticipated absorbing much the larger part of the money raised leaving leav-Ing an Insufficient fund for the propel equipment of the plant No more money being available the manager enlarged the plant as best he could with the funds at hand but In doing so had to leave in place part of the old plant which he had expected to replace with new and more powerful machinery Here the manager admits he made the serious mistake he has often condemned in others that of consenting to undertake an enormous Is a business which affords a Held of Investment suited tQ the entire range of inclination but oven the Investor In cheap stocks If he be willing to accept ac-cept the suggestions of his broker and turn his holdings over frequently may proceed conservatively and yet reserve a speculative Interest beyond a certainty cer-tainty Among the brokerage firms of Salt Lake City that are especially qualified quali-fied by the experience and business amount of work with insufficient machinery ma-chinery For a time tho plant handled from 500 to 600 tong per day and at intervals inter-vals to the close of the lun last August Au-gust that tonnage was reached and when that quantity of ore was hoisted and milled a satisfactory profit was realized The days however when tho hoisting engine and other parts of the plant would handle the required tonnage were so greatly outnumbered by the days of small tonnage or none at all that the total result was disastrous disas-trous and oDerations ceased August loth lothThe The Overland ore Is exceptionally well adapted to treatment by the cyanide method and the mill Is arranged ar-ranged upon an automatic sterri that permitted treatment at a very low I costWhen When the full tonnage was being handled the mining coot 75 cents per ton and the milling 50 cents per ton with tailings running but 10 cents per ton a result as to coats and tailings probably unequaled In mining and milling cyanide ores under similar circumstances cir-cumstances The sue and continuity of the vein the nature of the ore and the coarse crushing admissible contributed con-tributed largely to the above result Frequently the tailings showed but 20 cents per ton and occasionally they showed only a trace of gold Notwithstanding The poor total showIng show-Ing so far made upon this property what has been done upon the Overland proves that its onormous body of ore can he handled at a profit and those who know it best are confident that It will yet take Its place In the list of Utahs paying mines The property needs a new and more powerful hoist and a strengthening of other weak places In the plant When the plant shall have been put in condition to handle without unusual interruption 15000 tons per month the results will be satisfactory The ore needs no roasting The shaft Is equipped with two two Cl f ryo W LL 70 7 4 i < jCl r t J zi i I x 7tqf4 i cv t i f tlA 7k SJt1 th I M I l York Hill Mine A J Orem Sons I capacity of Individual members to place In the hands oi clients Information Informa-tion and advice of a most reliable nature na-ture are Broborg Thompson who have demonstrated beyond contradiction contradic-tion that their exceptional facilities for BuardPng the Interests of their patrons are richly improved Messrs Brobcrg < Thompson arc comparatvcly young men who became connected with the Salt Lako Mining Exchange October 18t I ton skips running in balance While one skip Js being loaded below the other Is dumping Its load Into a largo crusher In the top of the mill and the ore goes through the system of crushers crush-ers and into the tanks without stopping stop-ping the crushed ore being carried to ithe tanks by belt conveyors The so lutions are run into tho tanks through large sluice boxes Instead pipes and everything IS done to hasten work not requiring slow advancement The claims cover the vein apex for nearly a mile and a half The vein averages twelve feet In thickness of ore carrying no barren spots and of a grade sufficient to pay a fair profit when mined and milled continuously In large quantities The mine Is well developed to a depth of 900 feet by nearly two miles of drifts and nov has 225000 tons of ore Insight In-sight The underground system Is excep tionally good and the vein easily worked so that miners furnishing their own powder fuse caps and candles breaking the ore and putting it Into the bins over the skips at 15 cents per ton make 3 30 per day The mine can readily furnish 700 tons of ore per day and at the same time increase its reserves re-serves of ore In sight The property has for the past two years been under the management of Mr G A Duncan and he has had an extremely difficult situation to deal with The present ownership seems lo rest tIn tha bondholders by virtue of foreclosure fore-closure of their mortgage upon default of the bond Interest due July 1 1901 Mr Duncan has persuaded the bondholders bond-holders to subscribe 100 per bond giving I giv-ing a fund of 13000 for further underground under-ground development preparatory to a decision as to future operations We understand the receiver will permit this development work to be done as It will very greatly enhance the value of tho property Large plans are ahead for the Overland Over-land and those who know it best and are most conveiant with methods of mining and milling largo bodies of low grade cyaniilln ore assert that tho property should be equipped with a plant sufficient for Its need and that when so equipped It will prove a profitable profit-able Investment of unusual stability and duration f J W LANGLEY Prominent Broker > A J J t Lr > H c IC J I J J > ttit 7 ttitj r i j j I f lIjj7 I J irf i to i t = I I r = or JAMES A POLLOCK mining Stock Broker |
