Salt Lake Telegram | 1923-02-18 | Page 29 | Mining and Oil

I MINING AND OIL I The remaining territory of ot the Pyramid Lake Indian reservation ot of Nevada has lias ha been opened to mining prospectors It I Is announced announced announced an an- by the secretary of ot the tho interior Rich deposits of ore have been reported inthis In InthIs Inthis this territory and a number of ot location no notices 10 io- io tices are reported be being In filed fled One year is granted ranted after ater filing of the location notice notice no no- tc tice before the filing fing of the tho claim caim I It is announced that the Tono I pah pats nines company has hos b been en reorganized with the intention of sinking th the Gipsy Queen Shaft at tonopah Nev Kev to the 2200 foot level which corresponds In depth to the foot 1880 level of the Tonopah Exten Exten- sion lion D. D F. F Miller Mier president and genera general man- man l steer r of ot the Prince Consolidated d. d has hI left let with Murray Muray C. C Godbe treasurer secretary and former general manager to Inspect the I company's property At o Nev Mr mn Miller la is r a miring mining 1 Yen engineer fn of Los Angeles I II Ca Cal but Is at present living ivin In Salt Lake with his family He has hae ha taken an Interest In the Prince Consolidated company and will have direct charge chare Of the operations itis It ItIs I will wIl Is stated The operations I at present are ae the of ot the mines mine's lower levels level after ater which an aggressive campaign of ot ore production production pro pro- ducton will be carried on I CASPER w Wyo Wyt q Feb Teb 17 One 17 One n well wel was Wa I completed in Salt Creek Creele during the past week by th the Midwest Refining company that being b the Salt Sal Creek Consolidated No 1 AX 7 beng on the southeast quarter of section 3 39 79 which was wu finished at 2827 2821 feet A production test tet Is now being run but no figures are yet CS QS as to the output Progress Is being made with the two wells well in Baxter Daxter Basin No 29 2 on the southeast quarter of section 25 25 2518 lS is drilling at Quater feet and No X 1 on the northeast quarter quarter ter of ot section 36 18 is 1 drilling at 1830 feet feet Midway test No 2 Is still sti fishing for H Inch casing at feet Crowe Crows well No 2 in tho the Notches field is running Inch 10 wel casing at 2760 feet Dome test teat is 1 drilling at 1060 feet recently retired ot of otc oto Tech Hughes r Tech Tech-Huchu balance bal l its bonds at 85 leaving an outstanding tb o Ihla dOe ance atice c of i 4 I It nl la Is understood that no cash dividends may be toe distributed upon the common stock until the prior funded obligations obligations have been provided for It was wu reported that a A short shott time ago sinking fund might be established with wIh off ott limited amount of bonds which to pay a a annually At the tho present time redemption of ot Is 1 permitted only at a a drastic discount 15 1 per cent par I Hollinger Gold li is expected to raise rals Its lis dividend rate from 1 to 1 II P per pe cent every four weeks or from 13 1 to li 11 per cent anI annually an an- annually to reliable Toronto reports the lent higher market market rate rato Against pre present yield figurea figurea figures fig- fig around 13 a share the dividend urea ures out 3 more than 14 H per cent annually to expand its The company Is Ia planning I greatly within the next productive capacity few months To accomplish groty this ambitious hydroelectric power sup project adequate I 1 I plies must b bs be assured ples has hu Just been given Iven th the right nt development to proceed with its own power at Island Falls Fals on the river where Iland may be developed approximately under lease leae from the Ontario Tho The mated cost COlt of this undertaking un un- un- un government government however 1 la Is between and Gulf Oil on corporation through its it Is j f purchased a large c acreage i subsidiary has lag ha a fronting the Port Arthur Texas ship canal cona re refining re refining the tile present ro roI and about two miles below fining plant Tho Iwo oil who are ore to assist t JJ in inthe l liasIng las lias- th the of congressional 1 Investigation a- a aIns the of ot the ln- ln log Ing of Teapot dome by Secretary J s Ins appointed They Theo are Pall Fall have been tenor Pal O. O Fred Free O. O Clapp Clapp of ot New York and James Jame Lewis ot of o Tulsa Tulea Three more wells have suet Just been Pu e f hOle holo Creek and are all making in at Cat al makinI tho the all b be bb carried to They will rapidly l wi second sand The 60 GO Petroleum company In KB its No 10 on the southeast li liter Is ii 11 sectiOn ter of ot the southwest quarter ot of und under underway underway r 29 16 the Northern Mid Norther ld-Norther Is gett 29 1 the southeast quarter of ot the sou way on section ane MS the of tho the west quarter same Iame ond northeast north north- Frantz corporation Is drilling on the lor east rut quarter of the northeast 1 quarter Qu of ot leCton sec leC- tion ton 14 16 15 1