| Show I MINING PROMOTION N IS SOMETIMES STRENUOUS Accor According in to one ono of tho the old time timo mining minin- men who has come out nut of his bis winters winter's seclusion in Park C City t some Bomo unpleasant features aro are delo among tho the operators in that camp From our informant it is if learned that thata a few of the tho old timers who have o failed in their attempts attempt to mako a success of tho the mining minin- business are arc now di disgruntled n. n with their surroundings s and ana are orin endeavoring to tract detract from the tho profits and successes that h have e been beon achieved ed in n times tims past pant by others Since Sinco tho the announcement of resuming in ing work at the thc Silver r r Kin King Consolidated Consoli ConsolE dated pro properties in that camp said the thc Park City man a number of ru ru- more are rife as to the tho purpose and intent intent in in- tent of this company in making tho the third attempt to whip into line lino a proposition prop that has been a dismal failure I At any rate Solon Spiro who camo carno to tho the camp a poor boy from Germany and be began an his hill life lifo in this country in tho the grocery store of his uncle the Into late M. M r. r S. S is at tho the head of the proposition tion ana tho the assurance is given ven that ho will never give e up until ho he has baa converted con the ground into a ma magnificent producer si As AK an evidence of his bis un un- daunted faith in this property he has hassent hassent hassent sent up tip a lar largo large e hen heavy wire cable for forthe forthe the tho mine ho hoist lt and is certainly to bo ho commended for his it in I activity reviving I a dead one ono During his carl early experiences expert expert- I enc's in in Park City Citro when ho he was waR making making ma mn i king hi his first strides toward fitting I himself for the career of a great eat min mining nJ I man it is said Baid that his initial efforts I wore were ero dedicated to dealing ealing out the tho best i I brand brantl of tho the old hermitage to the mii mi mi- rat rat- I i I uin- uin men of that camp and in this manner he ho doubtless absorbed a large percentage e of his wonderful fund of II information concerning tho the minin mining in in- d dustY Enters Mining Field His His entry in tho the minin mining field dates I hack back to the tho early earh 80 when he helped form the Bogan BOJan Mining company which was incorporated with two claims I known as the tho Electric Li Light ht and Cum Cum- I berland In order to obtain a patent on this property it was necessary for Solon to make mako vertical surface agreement agree agree- ment with the surrounding claims A Areat great reat deal doni of ot money was expended in some manner and finally it developed that a shaft haul actually been heen sunk unk While White no favorable res results lh were obtained ob oh- tamed from this work Spires Spire's Jon long experience ex fiX x peri once as IS A n mining man stood him well sell in hand to combat w with th every obstacle obstacle ob ob- ob stacle stade and ho dealt out to all nn of tho the dissatisfied shareholders promises from day clay to day of better thin things s just a little farther ahead Ho lie obtained a pdt in interest interest in- in in terest in in the Ural Custor Custer and Delaware claims claim and this thin became the tho receptacle for a largo large share of the tho money that had been beon taken from shareholders in iu tho the form of assessments as Having in exhausted all of oC the resources resources re sources of the tho Bogan company and in having no further credit it became necessary necessary essar essary for tho the promoter to conceive some somo plan for a reorganization Because Because Be Be- cause of the properties properties' close proximity to tho the old Silver King Kine ground round be he usurped the tho name namo of this bonanza b by calling his new company tho the Silver Kin King Consolidated Mining com compa company pan With descriptions of what tho the old King had done dono ho was wan enabled to float the stock from ocean to ocean Cincinnati and Seattle where a number of his friends were located contributed hand hand- Homely to the new mining mining- enterprise Two claims were ere taken over and added thereto was wall an nn undivided interest in n four or five O other claims while the new corporation was formed under the laws of Wyoming After After of development de work expenditure of a large e amount of money to which such reliable minin mining men as Jack can certify the funds were exhausted exhaust pd and it developed developed devel devel- that some of the tho principal holders holders hold hold- ers were among tho the heaviest iest creditors creditor By B an nn o ersi oversight ht the thc corporation bad been drawn up in ni a manner that would not permit tb the assessment of the stock and the company was as forced into tho the hands of a receiver er At this juncture Mr Sp Spiros Spiro's frugal mind began to conceive conceive con con- other plans for the renewal of work and he ho had Salt a n Lake firm prepare prepare pre pre- pare bonds which ho ha intended to place and rind get et the company out of its financial difficulties Market and unfavorable conditions generally to together with fact that the thc investing in public could not be bo mado made to accept the plan of raising money for tho the purpose of paving in off oIl the tho claims im of th the largest est owners themselves them them- selves forced the abandonment of this i i idea d en ca Is No Quitter But Spiro is not a quitter r. r sa say his friends and they are arc Jc legion ion Even en un an- der those these most adverse erso conditions condition he again atrain began to plan pl for a tion of bi his company This time he took the precaution to make the stock assessable assessable assess able oble and tho the first on one was set lIet at 10 rents cents a share and still another W was S levied Ic in a er very short space of time The great financial depression through h which the tho entire country has just I passed ed was WM of ine inestimable benefit to Solon as he ht was able to gather in th tho small fragments m of tho outstanding interests in in- in the 01 old 1 Silver King Consoli Consoli- dation and thereby absorbed the tho major portion of this proposition He stated state to hi his friends that ho had acquired lar large e interests in other properties and it developed that be he had taken an un nn div divided interest in th the tho An Andes cs and y Vesuvius Ve Vo su fractions The Silver Kin King Coalition owns the oth other r undivided d interests interests in in- t rests in these thes same samo claims and nd it is s said paid that the Silver King King- Coalition has done none some Iome work on this thil ground This Thus has J given Spiro an opportunity to do sorno mining on paper and it is f said Raid that ho hc has bas threatened the Silver King Coalition Mines company with suit While no ono one seems to be post posted cd on the merits of Ih the ca case e. e it is indeed amusing to note Spiros Spiro's m magnanimity in in announcing an an- flouncing that ho i is to brin bring this suit on behalf of the Began Bogan and Silver Sih-er King KiDS Consolidated interests II All All are arc interested in in the ing ins proceedings and hope that thai Spiro will be able able to to assist this treble or organization ani- ani nation out of its numerous difficulties There Ther is still ample room left for do- do I of the thc great mineral resources resources re ro sources of the or ore zone zon in Park City which has only onh- been hn mined reined in places place and anil it is to tl bo ho O hoped hope that su such h a well known and anul capable minin mining man nuan as Mr Spiro will t bo be able ablo to greatly assist st Inthis in inthis inthis this work t |
