OCR Text |
Show In The &ood BldDays 83 YEARS AGO January 6, 1898 The article of incorporation were filed with Secretary of State, Hammond, Ham-mond, under the name of Utah Central Railway Company. The capital stock is placed at $250,000. The purpose of the organization is stated in the article in the following terms: "The corporation is organized for the purpose, among other things of buying, owning, maintaining, operating, and further extending those parts herein after described of the railroad's rights, properties and franchises recently belonging to the Salt Lake & Fort Douglas Railway Company, the Salt Lake & Eastern Railway Company (railroad corporations of the State of Utah) which have recently been sold under judicial proceedings and being all of the railroads, railroad properties and franchises late of said companies, except such as are situated easterly or southereasterly of Park City, all such being situated in the state of Utah." UTAH' ASPHALTUM BEDS Park Record The mining and Industrial In-dustrial Reporter, of Denver, in its December issue, devotes a page to the mining interests of Utah and dwells particularly on the extent and richness of the gilsonite deposits on the Un-compahgre Un-compahgre reservation. These deposits are so rich and so exclusively confined to the small area in which they were discovered, that combined capital is now making a struggle to gobble up the whole district, which the government is holding in reserve until such time as it can determine how best to dispose of it The Reporter's article on the conditions surrounding this marvelous deposit and the schemes being hatched to control it, it quite interesting. Following are a few extracts from the article: There is not in sight the formation of a greater and more remunerative monopoly than any of the trusts heretofore organized to control a special industry. This new combination of capital will seek to obtain possession of the gilsonite or asphaltum beds of Utah, easily the most valuable in the world. "The representatives of a wealthy New York syndicate and the agent of the St. Louis corporation now engaged in the gilsonite trade are preparing to struggle for this fabulous state, they are bidding millions for the prize. The cost of the land under the mineral laws, or sold in the usual way by the government, govern-ment, would be but a trifle compared with the profits." "Congress is expected to stand between this new trust and the people, but the only alternative in sight seems to be government ownership, and there is little hope of salvation from that source. On April 1st, next the Un-compahgre Un-compahgre Indian reservation in Utah will be opened to settlement, all except the mineral lands, which are reserved by the government. These mineral lands embrace about 1,000,000 across." "The only mineral known to exist is gilsonite or ashalt. The deposits of this character are computed to be the richest in the world. When the vast wealth lying in this small area, awaiting the consent of the government and the enterprise of man to bring it forth, is estimated, the discoveries of gold in the Kloyndike regions means insignificant. Geroge Herman Eldridge, the United States geolocial expert, says in his report that 23,000,000 tons of asphaltum can be mined in this territory. As every city in the United States is now laying asphaltum pavements, the value of this richest deposit in the world can be understood. The problem is to what disposition shall be made of these lands will be one of the most troublesome with which Congress will have to deal at the approaching session. The sentiment in both branches bran-ches is widely divided. It has never been the policy of the government to exclude mineral lands from settlement. Many senators and representatives content that to make an exception in the case would be a serious mistake." "It may be predicted that on April 1st next, the date on which the Un-compahgre Un-compahgre lands are to be thrown open to the public, there will be a rush as great as ever attended similar openings. Despite the outward appearance ap-pearance of aridness and barren waste, the practical eyes of the western farmer far-mer and miner will discern beneath the unpropitious exterior, a mine of wealth. They will be on the ground early and ride hard to gain their end. May there be enough land for all!" |