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Show FINAL PAYMENT IS MADE FOR UINTAH TREASURE HILL MINE With the payment of tbe last of two notes of $:,0.0IO each, tha Silver King Coelillun has Just completed the purchase pur-chase of the group of claims In lurk City formerly operated by the I'lnlah Treasure Hill Mining company. While the King had until the and of the year to pay this laat note, the directors of the company decided to pay up a r once and stop payment of Interest, which waa at the rate of a per cent. A special meeting of the stockholdere of the I'lnlah Treasure Hill will he called, the object being to dissolve the company and disburse the money for whluh the company holdings were sold. In addition to the tioo.000 principal, there la the Interest which haa accrued since the first of the year, and when all money la prorated among shareholders they will receive about 10 cente a snare for their etock. The control le held by J. Will Knight and John Dern. while a considerable amount of the stock la In the hande of small shsrsholdere. Of recent date the output from the liver King Coalition Mines properties In Park City haa Inrreaeed very materially. Tale condition has been Brought about as a reeult of the extenstvs development that haa been carried on by the management manage-ment of thla company In the past two years. This company had only about one-third of Its territory explored and was making regular dividends of 1100.000 a month. The owners foreaaw the pos-elhllltlse pos-elhllltlse of depleting the ore bodies In sight and exhauatlng Ha funds, aa haa been eo often the experience of big mining min-ing companies. They. decided to change their plans of operation, equip with electric elec-tric machinery of a heavier type, and open up the ore bearing aonee on a scale that would Ineure a heavy output for a number of year. Thla work has taken time and a great deal of money, but that they are being repaid for their efforts la clearly demonstrated by the final payment pay-ment for the Treasure Hill properties. The King la aald to have underground development of about 100 miles. It haa earned profits for Ita owners for almost a Quarter of a century, and Ita engineers claim that It la good for at leaat a acore of years of profit making. |