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Show IN THE 018 VULCAN FK''' believed by the owners to assure itself for fifty years. - One carload of the slag dump from the old Vulcan smelter was hauled 190 miles to the railroad, and. nevertheless, neverthe-less, yielded at the rate of 140 per ton net; and the expectation of the man- agement is that the hundreds of tons of this old slag pile will be shipped and full values recovered under modern mod-ern smelting processes. Railroad to the Camp. - The Vulcan is about thirty-five mile' north of Ely, and, happily for the new owners, is to be brought close to cheap .transportation by the railroad which is being built from Tawana, on the Southern Pacific, into Ely. and the. line of which passes within ten miles of Herbert's bonanza. The sheep's foot which- has been, long known to exist In the Colorado ft Southern headquarters' in Denver, therefore, is now recognised as having hav-ing transferred its influences from Parker's to Herbert's pocket, and there will be general rejoicing among all the acquaintances -of Mr. Herbert when this fact becomes known. Others with Herbert. Other Denver men who are owners In the Vulcan are Tyson S. Dines, secretary-treasurer, an attorney and one of the Stratton mining estate. The vice-president and general manager of the company is H. A. Woodworth of the Queen City. Mr. Herbert Is president presi-dent of the company, which, under the circumstances, has no stock to sell. In fact, on account of the comparatively compara-tively small amount of money required to place the Vulcan on a paying basis, but a small part of the treasury stock has been Issued. Almost all of the ' large capitalization of the company Is In the safe, and dividend distribution '-extends '-extends to a very small number of shares held by less than a dozen Denver Den-ver men. The good fortune which has fallen to Colorado men who a year ago decided de-cided to rejuvenate the old Vulcan mine of northern Nevada, brings into prominence as a wealthy mine-owner President J. M. Herbert of the Colorado Colo-rado ft Southern railroad. He had rejoiced at the smiles which Auditor A. D. Parker of the Colorado ft Southern received from the Goddess of Good Luck, who had been successfully success-fully wooed in Tonopah and Goldfleld through the energetic actions of C. D. Lockhart. for nineteen years field partner of the railroad auditor in their mining projects. How Luck Rewarded Parker. up to a year ago Paraer was quite truthfully estimated to have received In actual cash from his interests in Tonopah Extension and Goldfield-Florence Goldfield-Florence $750,000. and the wealth was pouring Into his bank aceount at a steady, liberal rate every month. But this did not change Mr. Parker from his democratic ways of living, and his associates in the railroad offices yet addressed ad-dressed him as plain "Parker." 80 one day Herbert, who was then vice-president and general manager of the Colorado ft Southern, said: "Parker, I hear your mining operations opera-tions are looking better every day, and I would like to understand from you how you pick the winners so successfully success-fully in that business. Here I have been dabbling in a half-dozen mining schemes for the last .few years, and none haa yielded anything. . What would your advice be?" Played a Waiting Game. "I hesitate," replied Parker, "to advise ad-vise any man about mining. Tou know that Lockhart and I played the game nineteen years before we made a cent. But my observation Is that the proper thing for a man who can afford to invest a little capital Is to secure an interest In a property where values are established beyond doubt, and wherein may be secured co-operation of other men equally as strong financially, and then equip that mine by development and with machinery so that It can quickly produce ore. Takes Up the Vulcan. Shortly after this colloquy Mr. Herbert's Her-bert's attention was attracted to the Vulcan mine of northern Nevada, which had been "experted" and turned down bv Utah people as unpromising. The Vulcan had been worked thirty-two thirty-two years ago, when a smelter was erected near by, and many hundreds of feet of tunnels and drifts then driven had opened up vast quantities of very fine quality lead ore. carrying also sliver and copper. When the pioneer pio-neer owner died, according to the history his-tory of the early days repeated to modern prospective Investors, its operation op-eration ceased for a decade and tha machinery rotted, while the uehu wer scattered quite numerously. Located by Salt Laker. The existence of the mine, however, was remembered by E. J. Daughters of Salt Lake. He located the heirs and. after Interesting Charles Hawkins of Denver, proposed to capitalists of that city the Vulcan's acquirement and resuscitation. re-suscitation. Herbert took so kindly to the Idea of getting in on this proposition that he lost no lime whatever, beyond appointing ap-pointing his agents to make an investigation, investi-gation, and he soon found himself Identified with a project destined to make him believe that he could be Just as lucky as his lifelong railroad friend, Parker. Company Is Formed. The Vulcan Mining and Smelting company was organized for 2.600,000 shares of a par value of $1 each, to be sure, of course, that there would be an all-sufficiency of stock. A small allotment was assigned to the treasury and the Vulcan's great future immediately imme-diately commenced by Installing an engine and compressor and hoist and the new buildings required to shelter the same. It did not demand very large expenditures, compared with the mammoth mam-moth sums absorbed in the development develop-ment of absolutely new prospects. Find Pure Minium. Exploitation of the workings showed one vein four feet wide of pure minium, or yellow lead, exceedingly exceed-ingly valuable In the construction of lead pipe. There were also two large veins. In addition, which were susceptible sus-ceptible of almost Immediate stoplng. Within comparatively recent months, therefore, the Vulcan began to yield shipments, and is now producing 100 tons per day of crude, ore which averages aver-ages between 350 and $60 per ton, and fromthe same source the supply Is |