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Show UNITED STATES CO. - -CLOSES DEAL FOR COLD ROADS NINE Word hat just reached Salt Lake City that th United btatea 8melting. Refining and Mining company haa succeeded suc-ceeded ia closing tha deal for th, bold ' - Road, mine. Thi, property comprint Jt, elsima, oa which ia built a 250 toa mill, and it ia located twenty three mile from Kingman, Aria. Col. O. P. Posey and Clarenea McCoraick, former-It former-It of this city, art largely Interested ia tha properties. Associated with them waa William Bailer, who is aim well known to Salt Lake operators. Ther are aaid to have eatracted 4.-000,000 4.-000,000 worth of gold ores during the pait tea years while opening up this property. At one tin, they owned the Tom Reed mine in that locality and cleaned op a aire profit from it. For some months tha United States eompaay had it, engineers in the field, ot only carefully oxperting and sam- pling tha Gold Bonds properties, but going over the entire district to get a lis, oa tha formations. After this company cam to terms with Posey and Bailey It was learned that the French shareholders, whom MeC'ornirk got interested several yeara ago. re fused to accept the price offered. Bailey waa delegated to go to Paris, aad while across tha water ha succeeded suc-ceeded ia rounding sp tha control. The transfer ia said to involve an outlay f tl.700,000 cash, and all sbarehold re desiring to participate ean get their pro rata of the purchase price. It la announced that the United tate eompaay ia prepared to operate tha properties on aa extensive scale aad will expend a large amount of money for development and heavier equipment. The ore in eight ia said to carry gold ore, running from $5 to do to tha toa, a considerable amount of tha deposit going from (30 to 40 to tha toa. Approximately 300,000 tost are ia eight which carry average values of M to tha toa. |