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Show GOOD SURPLUS Beaver County Mine Has Run on Profit Basis a Year. CASH ON HAND $40,000 Also Holds Judgment of $23,000 Against F. A. Heinze. Some of the old fmnes of Utah that were relegated to the "has been" class are being revived and placed on a paying basis. One of the properties that was badly managed and caused the loss of money to. some of it's stockholders a few years ago was the Majestic mlno in leaver county. Under a more experienced experi-enced management it has been making good profits for a year. George Walker, Walk-er, who recently visited It, says: Since the original Majestic com-panv com-panv was organized thirteen years ago" there have been two reorganizations. reorganiza-tions. Most of the people who floated the first company seem to have been Interested almost exclusively In promotion pro-motion profits, but fortunately for stockholders the management and direction di-rection of the company's affairs have been for some years past and are at present In the hands of men who are VionrHni? verv effort to make it an I operating success. Majestic Mines has S0S.79d shares of stock outstanding, which are selling on the curb in Boston at around 35 to -10 cents, representing a gross valuation valu-ation of only about $275,000 for the property and other assetB. For nearly a year past the company com-pany has been on a profitable operating operat-ing basis, its net earnings varying from $3000 to $5700 a month. As a result re-sult It now has on hand about $40,000 in cash, and in addition It has recently re-cently secured judgment in the Utah courts for $23,000 in connection with the lease of its smelting plant to F. A. Heinze, and property has been attached at-tached to cover this account. It may be figured, therefore, that the company com-pany has approximately $83,000 of working capital, or more than 20 per cent of the market valuation of Its outstanding capital. Company Owns 25 Claims. This company owns, in the vicinity of Milford, Utah, twenty-five mining claims, of which eighteen are patented. pat-ented. They are in five groups. The Old Hickory, four claims, and the O. one claim, are copper properties. The Harrington-Hickory, thirteen claims; the Vlcksburg. three claims, and the Hoosler Boy, four claims, are lead-silver. Each of these properties proper-ties has yielded a considerable tonnage ton-nage of profitable ore. but no one of them has been systematically developed devel-oped to great depth. The district in which these properties proper-ties He is one of most attractive surface sur-face indications and one which has produced a great deal of ore, but the only big mine near by is the Horn Silver, "which Is credited with a dividend divi-dend record of $5,652,000. The deepest shaft In the Majestic area 1b the Harrington-Hickory, which Is down 600 feet Jn this property, prop-erty, owned by Majestic, there is a very promising shoot of lead-silver ore averaging about $20 per ton, which has been followed down to a point 100 feet below water level. A year or two ago the company sunk this shaft 200 feet deeper. Installed In-stalled electric pumps and attempted to carry the workings to great depth, but an unsatisfactory electrical contract con-tract made the pumping expense so high that the management was obliged to discontinue work to avoid running in debt. Undoubtedly a new-contract new-contract will be made on a more satisfactory basis at some time In the near future and the development of this promising property will be resumed. re-sumed. Encouraged by the high price for copper, the management about a year ago resumed shipping ore from the Old Hickory property and since then has been taking out and sending to custom smelters about seventy-flvo tons dally, which has yielded a net profit over all expenses of 51.50 to $2.50 a ton. There is a shoot of ore 200 to 300 feet long and ten to thirty feet wide in the Old Hickory property, which carries 2 to i per cent copper and two to three ounces of silver per ton. Tho copper occurs as cbal-copyrito cbal-copyrito and bornlte in magnetite. The ore carries a considerable excess ex-cess of iron and the premiums received re-ceived thereon enable the company to make a good operating profit on a 14-cent copper market. This ore is mined in a big open cut. The vein, however, has been developed to a depth of 300 feet or more and It would appear that there Is now developed and partially developed devel-oped approximately 75,000 tons of un-nilned un-nilned ore. No work is being done at present at the Harrington-Hickory. O. TC, Vlcksburg or Hoosier Boy, but It Is 1 planned to begin sinking a shaft In J the latter immediately. H Hoosier Boy Big Yield. The Hoosler Boy la said to have yielded in the past between $200,000 and $300,000 worth of lead ore, which J ran very high in sliver. A vein one to four feet wide and perhaps 300 feet long has been mined out clean j from a depth of 160 feet to the aur- face, but no development work, has ever been done at any greater depth. I The formation In which thio vein occurs is a Boft decomposed limestone of most promising appearance and 1 the plan of the management to sink a shaft to a depth of SOO feet or deeper and open up this vein, below the old workings should yield excellent excel-lent results. The Moscow, anothor company operating op-erating near by in tho same formation forma-tion as tho Hoosler Boy, Is said to have followed a similar vein to a depth of 500 feet, and it is now producing pro-ducing and shipping high-grade ore regularly, and is paying dividends. The Majestic Mines company is now in a stronger position than it ever heretofore. Its management is made up of able 'business men and Its property is in charge of A. D. Moffatt, formerly superintendent of the Nowhouse Mines & Smelters company, a man who is splendidly equipped by experience to handle its affairs efficiently and get tho best operating results obtainable. The profits of the past year will enable the Majestic management to inaugurate a more aggressive campaign cam-paign of development work than ever has been possible in the past. There is every reason to believe that the results of this work will further increase in-crease the company's earnings and enable It to open up some good mines in its property. The company's Hoosler Boy Is a most promising prospect, as the oro . it has yielded in the past has been very high grade, running from 537 to $50 per ton and higher. If the Hoosier Boy should develop favorably at depth it might yield as much in profits, or possibly several times as much as the company's capital stock is now selling for in tho market Nevadas In San Francisco. James A. Pollock & Co., bankers and brokers, furnish the following, received over their private wire this afternoon after-noon Bid. Asked. Goldfleld district Atlanta $ .15 5 .16 Booth 02 .03 Blue Bull 01 .02 C. O. D 05 Combination Fraction 03 Daisy 03 Dlamondfield B. B .03 Florence 36 Goldficld Con 1.70 1.75 Kewanos .02 Jumbo Extension 11 .12 Merger Mines 17 .18 Oro 10 .1L Silver Pick Consolidated.. .03 .04 Yellow Tiger '.03 Manhattan district Big Four .42 ....... Dexter Union 02 Gold Wedge 04 Manhattan Consolidated 06 Manhattan Dexter 02 ... White Caps .07 .08 Comstock district Consolidated Virginia 04 .05 Confidence 21 Halo and Norcroas 05 Mexican 70 .75 Ophlr 15 .17 Savage ' 06 Sierra Nevada 12 .13 Union 07 Tonopah district Belmont 6.05 Boston -02 Cash Boy OS Gipsy Queen 06 .07 Jim Butler 74 Tonopah Merger 63 .64 Midway 42 .13 Mon. Pitta. Extn 13 .14 Montana 1.10 Mizpah Extension 65 MacNamara - .16 .17 North Star 89 .80 Rescue "Eula 22 .23 Tonopah Extension 2.00 West End 1-321 1.35 Other districts Pittsburg Silver Peak ... .47 Round Mountain 47 Ne77 York Mining Stocks. James A- Pollock & Co., bankers and brokers, furnish tho following, received over their private wire yesterday afternoon: after-noon: NEW YORK LISTED STOCKS. .1 Sales.l H. 1 L. Clse Chino 1,000 341 832 846 Inspiration 400 14! HI 148 Miami Copper 400 21 201 20? Nevada Con. 1.200 14S 149 14fl Ray Con 1,700 17 16 17 Tenn. Copper 600 20 285 282 Utah Copper 600 423 42 42 Studobaker, com. .. 300 24 J 24J 34J Ontario Silver 23 NEW YORK CURB RANGE. I Sales.l H. I L. iCIne First Nat. Copper IS Giroux Con. 300 1 lfl 18 Yukon Gold 100 2 23 21 Ohio Copper 100 8 8 New Keystone 12 South Utah , 5-16 Mason Valley fl Braden Copper SOO 6J 6J 62 Ely Con 2,300 10 9j 10 La Rose 2 Nevada Hllla 200 84 94 94 Kerr Lake 100 3i Si Si Belmont Tonopah 5$ Alaska Gold 1,100 16? 16fl 1GB goldfleld Con 600 lj 13 lj NEW YORK CURB CLOSE. 1 Bid. lAsked. Ely Consolidated .08 1$ .10 First National Copper.... 1.75 I 1.875 Giroux Consolidated 3.37J 1.50 Yukon Gold 2.121 2.37i New Keystone 1.25 1.75 ! Nlpisslng 8.121 8.50 Ohio Copper 66 .68 La Rose 2-87a 2.50 South Utah .is .30 British Col. Copper 2.12J 2.371 Bay State Gas ........... .30 .42 Braden Copper 6.75 6.87 Mason "Valley f 5.50 6.00 Tlntic : 12J .37a Ontario 2. 00 2.50 Sioux Consolidated 03 .07 Colorado 14 ig Iron Blossom 1,25 1.35 Nevada Hills S3 .gg |