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Show INTER-MOUNTAI- N MINING REVIEW. shows that the speculators expect the price to be as high thirty or sixty days Some important legislation affecting hence as it is now. The market shows mines and mining companies has been other signs of increasing strength, considered by the Utah Legislature prices are steadily advancing and, during the past week. The incorpora- while crafty politicians are using the tion bill, which aroused such vigorous silver cause as a football, the white protest, was amended by reducing the metal has seen its darkest days. fee for filing incorporation papers from 50 cents to 25 cents per thousand of The Cyanide Settlement. capital stock, and in this form it was Decree by stipulation was entered in sent to the Governor. The Beard coal mine inspection bill, the United States District court in this the provisions of which have been pub- city in the case of the Gold and Silver lished by The Review, was passed by Extraction company of America, limitthe House without important change. ed, against the Mercur Gold Mining A bill was introduced by Representacompany. This was the famous cyative Lewis declaring the irrigation of nide royalty case, and the termination lands and the mining, milling or other of the suit, which was reached by comreduction of ores to be for the public promise, greatly strengthens the position of the owners of the MacArthur-Forre- st use, and invoking the right of eminent domain in their behalf. patents, as the decree finds bill, regulatthat the patents are valid and the deFergusons eight-hoing the hours of employment in un- fendants have infringed upon them. derground mines and in smelting and Judgment was entered against defendore reduction works, was passed by ants for $20,000 for back royalty, althe House, notwithstanding the grave though it is understood that a nominal doubts expressed concerning its con- sum only will be paid. The Mercur stitutionality. It limits the period of company consents to pay royalty in the employment in mines, smelters and future, but at a much lower rate than mills to eight hours per day, except that originally demanded by the cyain cases of emergency, where life or nide company. The .atter company will property is in imminent danger. This place an expert in the Mercur mill for bill meets the approval of the miners the purpose of introducing the imand the disapproval of the smelter proved methods recently adopted and employees, the latter fearing it will the new patents secured, and the manresult in a reduction of wages. agement of the Mercur company is conThe odious provision of the revenue vinced that the increased saving of bill empowering Assessors to examine values that will thereby be made posthe books of mining companies was sible will compensate for the royalty stricken out by the House, which charges. The settlement, therefore, reached the conclusion that it was an seems to be advantageous to both sides. unwarranted discrimination. The trial of the South African infringement cases is now in progress at in Hilling. Electricity Johannesburg, where, it is stated, the claim to the zinc patent for precipitaThe attention of mine-owneat tion of the gold in solution has been Bingham and Park City has been called withdrawn. to the application of electricity to the People who speculate in operation of mines by the incorporation of three companies during the past mining stocks should always ascertain few days. These Incorporations give the number of shares at which the shape to the plans of Frank K. Gilles- company is incorporated. The par value cuts no figure. Five cents per pie, who has installed a plant for generating electric power in Big Cotton- share might be a very low price price wood canyon. One incorporation, the for one share of stock, and yet be an Cottonwood Water Power and Electric exorbitant rate for the property. When company, covers the power plant; an- a company issues a million shares on other, the Bingham Electric Light and $10,000 worth of prospects the stock is Power company, will furnish electricity worth just one cent per share, and to Bingham, and the third, the Park while the offer of a limited amount City Electric company, will supply Park at the low price of five cents per City. The incorporators announce that share might tempt people to invest, they are prepared to furnish all the they would be paying a very stiff rate. electricity needed for operating mining The Review this week devotes conmachinery, including hoists, air compressors and mills, and it is also pro- siderable space to a valuable article on ilining Legislation. ur rs der many circumstances electricity is the most economical power, and its use in mining is being rapidly extended. Its introduction in these two great Utah camps may accomplish some important reductions in the expense of working the mines. It is regarded as of considerable significance that for five days of last week the future quotation on silver was as high as the spot delivery price, while heretofore it has always been at least one point lower. This is construed by ore buyers as a bull indication, and sec- tion of the State. No. I contains a full description of the Boise gold belt, besides several special articles of interest. Abstract of Recent Alining Decisions. Prepared for the Mining Review by George Westervelt, attorney at law. Salt Lake City, Utah. Partnership Partnership Mining Property Where tenants in common in a mine form a partnership for the op- eration of the mine, without the mining property being brought into the partnership as a portion of its capital stock, the property does not, for the payment of the partnership debts, become partnership property, as between a purchaser of one partners interest in the mine and the remaining partners Patrick V. Weston, 43 Pac. Rep. (Supreme court of Colorado, December 4, 1895.) In Same Liability of Incoming Partners. In such a case (as above) the purchaser, the incoming partner, dos not become liable for debts contracted by the partnership prior to the time he became a member. Members of a partnership, acting in 446 concert in the appropriation of partnership property in payment of the debts for which the partners so acting were alone liable, are jointly and severally liable to the other partner for his share of the funds so appropriated. Ibid. Same Pawer of Majority of Partners A member of a mining partnership is liable, as between the parties, for his proportionate share of the salary of an employee appointed by a majority of the members over his objection, such partner having reaped the benefit of such employment. Ibid. of Mining Partnership Sufficiency on an issue is Proof Where appeared, as to whether the plaintiff and defendant were partners in working a mine, that the lease thereof was in the name of plaintiff and another person, because the latter would not have defendants name in it; that an alleged written partnership agreement between was lost, and plaintiff and defendantwas vague and the testimony thereto not shown was indefinite; and that it that defendant ever participated in the working of the mine, or shared the profits and losses thereof, but that plaintiff assumed ownership and control thereof there was no sufficient proof of a partnership; though plaintiff stated that he had borrowed money on alleged partnership property, and paid Hodgit out for partnership purposes. 462. 43 Pac. Rep. (Court son vs. Fowler, of Appeals of Colorado, January 1.., 1.896.) De Jure and Corporations Directors De Facto Under civil code of California, sec. 305, providing that directors of a corporation must be stockholders, a person owning no stock in the cora director without his poration, elected not become a directoi , knowledge, does either de jure or de facto, so as to prevent his purchasing corporate property at a judicial sale, though a share of stock was, subsequently to his election, issued and delivered to him, which hea as retained; he never having acted so director or been called upon to do until ten years after his election, when office. Rozencrans the geology and mineralization of he repudiated his vs. Morey, 43 Pac. company Mining the Camp Floyd district, written by Rep. 585 (Supreme Court of California, Prof. Marcus E. Jones, which will be January 23, 1896). read with great Interest by the several The Camp Floyd district is now usthousand owners of claims on this five tons of cyanide of potassium ing wonderful gold belt. Prof. Jones has per month, and it is believed the conto a carload given the subject long and careful in- sumption will be increased month during the present year. vestigation and his conclusions are per it is The price has been falling40 and cents per worthy of consideration. now sold at New York at down 46 laid cents which means pound, The first number of the Idaho Mining at Mercur. All the cyanide of potasthe News, the official publication of the sium used in Utah is supplied bycomIdaho Mining Exchange, is a very Roessler & Hosslocher Chemical their Salt pany of New York, through Nelden-Jud-so- n creditable production and the journal Lake representative, the will doubtless perform efficient service Drug Company. in advertising the mineral resources of The man who cannot afford the cheap the State. The Mining News will be of a wad of treasury, stock these luxury published monthly, and each number days is very impecunious indeed. low-pric- posed to operate trolly cars on the Dalton & Lark tramway at Bingham. Un- will be devoted to some particular ed |