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Show Recently Incorporated Company Com-pany Will Push Developments Develop-ments in American Fork. It has for months been brought to the attention of the public through the mod ia iv of the press that the American Fork canyon district was coming to the front in no uncertain way. A score or more of companies are now engaged in the development of ground that is now giving profitable returns or excellent prospects of profits in the immediate future. One of the latest to enter actively into the field of development of ground that is already proved, is the Austin Mining company, which holds twenty acres of patented ground in the American Ameri-can Fork canyon, articles of which were filed only last Friday. The company is incorporated for 1,000,000 shares' of the par value of 10 cents, 3S0.000 shares to be reserved as treasury stock, which may be held for development purposes, but even this may not be necessary, for the company has no dents and will probably be on f , a paying basis within sixty days. The officers of the company are Charles Read, president; Charles" Karl, vice president ; .1 . C Jensen, secretary and treasurer: these, with ,7. R. Sebree and G. .1. Field, making the directorate. It has been idefinitely determined that the Austin ground, from which surface boulders were taken many years ago that kept the valley smelters going, is on the same formation as the old Miller mine tbat produced millions. There is every reason to believe that the wonderfully high-grade lead-silver ore that is found in small tonnage above will be found below with profit to all concerned. |