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Show I, No.. Vol. SALT LAKE CITY, UTAH, DECEMBER 1& Piuce 7, 1901. 5 Cents. tieme limit of $10,000 for the month, in the Erickson mining district, and that would leave a net balance of ground miles from Fairfield, close to the forty $33,200. But Col. Heffron is reported Oregon Short Line track. Considerable as saying: When the ore unsettled work has been don eon the property and ior that was shipped during November ore has been encountered showing good is in lead, thirteen ounces . silver to its population and brought in from time to time the stock thesold the company will have $8000 to values some and gold. Joseph Llppman is presGranting that that is true, went up from a few cents to 49 cents. whatgood. has become ident of youth of its mining The of the the company; Dr. Mayo, $25,000, the insiders out and the prices difference between the John net James, secretary and pays larger sums in dropped to 1 got reported cents. No ore has been earnings of the with John T. Broacher, $8000 treasurer, and the who, company, mines than any heard of in the property since. its said to be to the good? John C. Jones and Emma Jones form while there are many mining on Rot Air Plan. proportion comparative In the Utah Industry, dividends other vice-preside- nt; from State, but producing and very profitable the public has mines in the State, suffered greatly from the booming of worthless lands, which have been called mines. Had there been a system of inspection of those properties by competent and honest mining engineers, such as it has been suggested the mining stock exchange should institute, the public would have been saved a great deal of money, the reputation of good the State would have been preserved much and there would have been more extensive development of legitimate properties. A few of the propos- a itions from which the public would saved by the aid of an inspector within the past few years are the East Golden Gate, Chloride Point, have been Northern Light, Little Martha Washington, Ajax, Pittsburg, Ingot and Tesora. Some of the above have no merit at all, and never had. while others may yet turn out valuable properties, but whose stock was advanced prematurely by manipulation. The East Golden Gate is at Mercur. at It was floated by Chicago people the time Mercur was opening up as a gold camp. Mr. Busenbark, the mana- ger, had an office in the Dooly block, from the local newspapers and the Associated and United Presses were supplied with hot air stories regarding the mine and the work supposed to have been done in the way of development. After many months of booming the public took the stock at from 50 cents to $l a share. The property never had even an indication of ore, and petered out entirely. which The Foint was put on the Chloride Hrket at 23 c ents a share and boomed UP to $1.30. The most lurid tales of rich ore were published, and the com-5?- n even went 80 far 88 t0 a. Pay ffLnd but lt 18 said it did so with money ,and it is certain it was in a p osition to pay a divi-oe- na The raise, however 8eH stock on. The is valueless. legitimately. Property t .Northern Light which had two big booms the public were badly burnt to $1.50. It is now cents, and was dowr to SfcVfr9iCents' and the stockholders paid assessments. "-e- about 3 Jtle Pittsburg was a favorite for Ration for a long time. It has id ren up friu a cent or two to lJlvfnt8- It never had any ore, 1 &,y never will. It has not imis value at present. - Ill the directorate. The record of Ingot was very simiDid the company borrow money to lar to that of Martha Washington. pay its November dividend, and if sp, The stock is now quoted at about 2 why so? Or did it not ship the amount cents a shore. of ore reported as shipped, and if the ore was shipped did it yield only $1(1 a ton instead of $24 as If the Ajax unquestionably has merit, but reports of ore shipped reported? and the amount was manipulated and sent up far be- per ton it yielded are untrue, who lied? yond its legitimate value, and there The newspaper reporters or those who are very ugly stories in circulation re- furnished the Information to the reporters? Those are questions a good garding the management. many people are asking and would like to have answered. Tesora is a shining example of the necessity of the mining exchange inThe exchange has made a most comon are listed that companies sisting mendable move in authorizing Chairfurnishing at stated Intervals state- man Bamberger to demand of mining ments of their financial condition. Te- companies statements covering their sora was away up above the dollar earnings and general financial status. mark only a few months ago. It Is now It is one of the steps absolutely neces10 cents, with an assessment of 20 sary to restore the exchange to the concents a share hanging over It. The fidence of the public, hut it is only one up by the apground is good and there is probably a and shouldofbeanfollowed official inspecmanmining pointment ore the but in deal of sight, good exmake should who tor, periodically or bad agement, through bad luck and of listed furnish mines management, ran the company into aminations debt to the tune of $80,000. while the accurate and reliable reports thereon. public and many of the shareholders and free believed it was The feature of the week has been the and bought the from incumberance, stock on that supposition. One fine same as that of many wekes past, a an further decline In the price of stocks. morning they woke up to find neces20 cents a share assessment of The market seems to be a bottomless inpit. The action of the mining exchange sary to liquidate the companysstatein abolishing trading in futures may debtedness. A sworn monthly ment of the companys finances would have a salutary effect. At least it is hoped so. prevent any such awakening as that. self-sustaini- ng -- ' There is much' doubt In the mind of the public as to what the Tesora means. There are those who declare that the mine is not what it cracked up to be, that it was d up to sell on, and others ina Is good it to the opinion that with plenty of pay ore, and that as been forced down to squeeze the small holders, the outsiders, owners expected that many of the and assessment, ot pay the in taken be by will their holdings assess-- t. for delinquent company and that when they are squeezed the stock will advance. Nobody of the is to know the real condition are stockholders . and the it happened ausly inquiring why com- some of the big fish of thecritical this are out of town at company, ture In the affairs of the stockholders the of i so many with d like to have interviews j 20-ce- i. lat Is the matter withCarisa? Col. ron Is quoted as saying that lt dividends too soon. That reported that obably true. It was sixty-adNovember ig the month of were shipped, be-payi- ng s body . th 0 Martha Washington, iv,1108 la Uj. every- "bat was done with that a aso. On reports of ore toine of almost fabulous value of ore, 1800 tons, netted is also reported that theore i ton, which would yield ex- the working expenses at the The Mount Baldy Gold Mining and Milling company, with 300,000 shares of the par value of $1 each, has filed articles of incorporation. P. A. H. Franklin is the president of the new company, George T. Henry and Ben. D. Luce secretary and treasurer. The corporation takes over the Henry group of twelve claims in Piute county. vice-preside- nt Developments in the La Heine in Tin- tic are very encouraging. A large body of ore has been uncovered which shows assays of 5 per cent copper and from thirty to 170 ounces silver. A good body of ore, running $19.22 in gold, has been struck in El Amigo. The prospects In the Wolverine at Park City are very bright. A large body of ore running 140 ounces silver has been encountered. The Gemini will pay a dividend of $50,000, this month. a share, or $10 Fred E. McGurrin is very confident that the big deal Involving over which he has been working on for some time, will go through. In trade $10,000 has ben turned over on the bargain, which involves large properThe Utah ore and bullion output for ties in the Iron mountain district. the eleven months of the present year amounted to $24,339,210. The years A strike is reported in the American output will total up to over $26,000,000. For the month of November it was Mining companys property above Park City. The assays show 16 per cent copper, twelve ounces silver and 80 cents in gold to the ton. C. P. Mason, the local agent for Fair' banks, Morse & Co., says that never in the history of Utah have the orders The Daly Is working in the direction for mining machinery been so numerous of the Quincy end lines with excellent as at present. prospects of catching a vein similar to that found so rich in the Quincy propRlchmond-Ana-conof the erty. control The .. Mining company, which was purReports of gold ore in the Beulah of chased by the Uncle Sam company some time ago, was formaly transferred Wyoming are at hand. In gold it runs a few days ago. The Uncle Sam owns over $10 to the ton. ' 400,000 of the 500,000 shares of the $2,-000,0- 00, $1,-794,0- 00. da . Richmond- -Anaconda. . . Another chute of ore been encountered in No. 3 tunnel of The value of the Tankee Consolidated has Alice the mine at Gold mountain. The in has been increased by the discovery from assays The run $17.50 to the breast of the tunnel , ore. the mine of copper-bearin- g the ton and the quarts drift gives an copper made its appearance in acrossof $40 to the ton. average' the 150 feet south from midway .' ' cut. The Dexter of Tusoarora Is malting a The Glendore Mining company has great record. According to advices rebeen incorporated with a capital Btock ceived here nine feet of ore on the. 150-of $25,000 in 250,000 shares of the par foot level averages $140 to the ton In value of 10 cents each. The company gold has been found and in what was owns sixty acres of very, promising formerly Tusoarora ground, now part gold-beari- ng Ill |