OCR Text |
Show 10 INTER-MOUNTAI- heart of the rich mineral belt of that hill. We have been unable to learn the particulars of the deal. W. N. Nichols is the superintendent. Poorman. Manager Grothe, of the Poorman, is spending a few days in Silver loooking after his companys interests. Since his last visit he has made a trip to London, England, and attended a meeting of the directors, at which time it was decided to continue developments in an aggressive manner, capital for which has been provided. Henceforth the management will confine its explorations at and below the Belle Peck level, which is now known to be in virgin ground. Sinking and drifting is now being done at the mine with gratifying results. We were shown a specimen from their present works which shows a two-inc- h streak of very high-grad- e ore, and we understand that have they opened some nice bodies of In about two good milling rock. months, said Manager Grothe, we expect to have things working in good This would seem to shape again. at that time their new elecimply that tric power plant would be in place and in working order. Ada County. Willow Creek correspondence Caldwell Tribune: The I. X. L. shaft, or incline, sprung a leak and caused the sinking on that to be abandoned. The ledge was growing wider and panned free gold abundantly when shut down. The tunnel was not timbered and when the snow was shoveled out of the cut it was found to be caving so badly that it was also abandoned and another site selected considerable lower and one hours work uncovered the best free gold ledge yet found on the I. X. L. hill. The ledge is turning out to two mens labor over one ton per day and is an on panning. eye-open- er Lemhi County. Lemhi Republic: As stated in the Republic two weeks ago, Captain Singi-se- r had a force of men at work on the Silver Star mine about fifteen miles north of here, shooting down and taking out ore for the purpose of giving it a thorough test by several processes at Denver. Forty thousand e pounds of ore, requiring seven teams to transport it, passed through here Wednesday en route. Capt. Singiser departed the following day. If the ore pans out all right, an extensive plant for the treatment of the rock will be put in in the near future. four-hors- N MINING REVIEW. NEVADA. fllNINQ STOCK REVIEW. White Pine News: Considerable ac tivity is displayed in the vicinity of Copper Flat and West Camp taking out copper ore. Hawthorne Bulletin: Ed Kenney has located a ledge below the Oneida mine, in Silver Star mining district, which is very likely to prove valuable with development. The ledge is said to be 200 feet wide. The croppings assay from $4 to $S per ton. Kenney is driving a cut to tap the ledge at a depth of twenty feet. Hatton & Kenney have located a claim parallel to the above, which shows Immense croppings, carrying coarse gold. This ledge is seven to ten feet wide at the surface, and horns There were hardly enough dealing on the Salt Lake Stock and Mining Exchange last week to make a market, the total transactions aggregating but 11,125 shares, of which 1425 were listed and 9700 unlisted, against 2650 listed and 40,250 unlisted the previous week. Timidity of the local public and absence of outside orders are responsible for the shrinkage, for their are speculative and investment opportunities in abundance. The slump is not confined to Salt Lake, for the Colorado stocks have gone to pieces during the past ten days, and little improvement is looked about $10. De Lamar Lode: O. Terry and Ern- for until the new government loan is est Duffin, who are engaged chopping floated. Normal conditions will then wood about four miles north of here, be restored, and a great deal of Eastfound some float in the vicinity of ern money released, some of which will where they are chopping that assayed over 940 ounces in gold. They kept the undoubtedly find its way to Utah. Howmatter very quiet until they, with F. ever, the transactions of the exchange R. McNamee, P. M. OBriet and Henry hardly reflect the actual conditions, as Berry made some seven locations, when many curb sales were made during the disof other the informed friends they week, both by exchange brokers and covery, and today the town Is considfor which the exchange did not erably excited, and the hills in the vi- others, receive credit. cinity are now covered with prospecA special meeting of the members of tors. The excitement is the talk of the the exchange has been called for the town as we go to press, and thus far of determining whether convery little direct information can be purpose tracts for future delivery shall be perobtained. mitted. The rules permit such Pioche Record: The exodus to Spring deals, and anpresent effort will be made to Valley is growing every week. Large numbers of miners can be seen passing through Pioche and Panaca every day, and the outlook justifies the rush, as the assays run high and the ore is in no small quantities. De Lamar will have to look after her prestige if things keep looking up as they do at present. If a sufficient amount of concentrating ore can be obtained, J. H. Wheeler contemplates erecting a small crushing and concentrating plant near Highland. Frue vanners will be used, and it would seem that Old Highland dis- trict ought to furnish some concentrating ore. Nearly first-clas- s the ledges in that vicinity contain a heavy percentage of lead. Silver strikes still attract attention. This time it is Cave Valley, sixty miles east of Pioche, yet in this county, which has created interest hereabouts. About six weeks ago a quantity of very rich float was found in the foothills all about three miles east of Parkers Sta- tion. Cattlemen from White River made the discoveries and proceeded to work. The work since performed indicates the ledges to be of good size and permanent, and a good many claims have been located. Assays running to 400 ounces in silver and over $20 to the Elmore County. are common. The deposits ton in Elmore Bulletin: Joseph Doney, a are to gold the west of Patterson mountain prominent mining man and good citi- and old Patterson mining district. zen of Rocky bar, came down from that camp Saturday night, being three days Electrolytically formed seamless copmaking the journey. Mr. Doney says per steam pipes made by an English that when he left the Bar the snow firm have been carefully tested by the was fully five feet in depth and good of the Board of indications for a great deal more. The marine department to be acceptable outlook is favorable for a profitable Trade and declared the boards under season in the mining industry of that for steamships built section, as is shown by products of the survey. prospects that all have more UTAH DAY or less good ore out ready for the usual spring runs, and if taken up extensiveAt the Leadville Ice Palace. . ly under systematical and prudent management, cannot fail to be profitFebruary 14th has been selected as able to the investor. Campbell & Er- Utah day at the Ice Palace; it is also win have out twenty tons of ore from the special jubilee day of the order of their New York mine. Charles Hop- the Mystic Shrine. February 15th and kins has a lease on another portion of 16th are Elk days, so that a continuous the New York lode. Malmburg & round of gaiety is assured. The Rio Swanholm are getting out some very Grande Western has just announced a rich rock from their Wide West lease. round-tri- p rate of $12 for train leaving and at the Gottsch Adam Richmond, Salt Lake City at 7:40 p. m. February a Joe Pearson at the Champion, have 13th. on which train a large delegation ore out tons of of ready of Utah Shriners, Elks and others will goodly number for spring crushing. Everything was visit the Ice King and enjoy the hosprogressing satisfactorily at the great pitality of the Cloud City. Utah should Elmore mine, though it is feared the not fail to send a strong delegation to wood supply may run short, owing to Leadville on this excursion to strengththe difficulty of hauling it through deep en and encourage the mining interests 6 of our respective camps, etc. snow. so-call- ed 4-- change the rules. Mercur continued to be the strong stock of the market, sales being made on the exchange at 6.97, and on the curb at $7. The stock is not likely to go much higher at the present time, but it will eventually advance to a much higher point, as the milling capacity of the plant will be doubled during the coming season. Dividends of 12 cents per month will be continued until the new mill is completed. Ontario was another strong spot, advancing nearly $1, on the expectation, no doubt, that better than 10 cent dividends would be the regular order, an expectation that will hardly be realized in view of the condition of the treasury, as set forth elsewhere in this issue. Daly also advanced, being held up by hopes of a dividend. The Daly surplus is now between $300,000 and $350,000, which would seem to justify a division of profits. Belief is expressed that when dividends are resumed they will be paid quarterly, but it is not likely that any action will be taken until after the annual meeting, which will be held on the 17th. Ajax is steadily advancing and good reports continue to com fiom the mine. An offer of 90 cents for control (150,100 shares) was made on the exchange, but a higher bid from Eastern parties was that recently refused. It is an Eastern syndicate has been endeavoring for some time to secure the property. Bullion-Bec- k dropped $2, without apcause, except the general bearparent ish tendency. Another dividend of 25 cents per share will probably be declared on the 15th. Centennial-Eurek- a sold at $60, the demand at this figure being greater than the supply. The regular monthly dividend of $1 per share was paid on the well-know- Tn 1st. Geyser held its own, in spite of the closing of the mill, $1.30 being bid at the close. Little Pittsburg continues to be about the only lively feature of the unlisted call. Sales were made at 2 cents, which is $8000 for the property. The bulk of this stock has now passed into the hands of three or four persons, and at the annual meeting, to be held on the 13th, provision will be made for funds with which to continue developement work. This may take the form of an assessment, or the large holders may advance the money. Dalton was unchanged, sales being made at 8 cents. At the annual meeting the sale of about 106,000 shares of |