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Show 1 The Market and the Mines ! Tho Salt Lake Stock and Mining Exchange is I becoming a bulky body and in consequence har- ! der to control. It is now suggested to dissolve I tho incorporation and reorganize as an assocla- j tion of individuals. Whether the customers of I the brokers who will form such an association I will derive any benefit is one question, but tho ! exchange will certainly be in a better position to enforce its rules arid regulations. An association associa-tion of individuals can make Its own rules for the guidance of its members and there will be no danger of these matters coming into the courts. There "have been controversies under the present system as an incorporated concern which have been difficult of adjustment and many more ser- ious difficulties would doubtless have arisen had any person with loss tact and diplomacy than the I President, James A. Pollock, been at the head 1 of the affairs of tho exchange. The exchange I owes much to Its president. Ho has worked I and fought for its interests and much of its suc cess has been due to his watchful guidance. I Jt ! The present quarters of the exchange are on- , j tlroly inadequate and the day when there will be I a permanent homo in one of the now skyscrapers i now under erection by Mr. Newhouse, will be i welcomed, not only by the members, but by all jj who have any business with them. And the most pleased of all will bo President Pollock. The idea of a permanent home has long boon hit cherished cher-ished dream and he has never ceased to look forward for-ward to it. Perhaps the day will come when the I Salt Lake exchange will be on the list as one 1 of tho show places of the city. It Is "even now Ij worth a visit I l 12 1 ! w w- w- j Tintic properties still are the center of inter- Hi est. The prfncipal feature among these has been the consolidation of the May Day and Uncle Sam holdings. This has been practically agreed i upon and the working out of the details is all that remains. Uncle Sam will remain intact, the Humbug properties belonging to the company not entering the merger, but a new company will be formed to take over the Uncle Sam claim and May Day properties, the stock to be divided equal-ly equal-ly between the companies. The May Day com-pany com-pany will contribute more ground but gets the benefit of better equipped workings and of tho mill for the treatment of low grad ores. The . arrangement is considered an equitable one. & & j Hj The merger of these two companies makes a very strong combination and the stock of the new company will meet with a hearty reception. Bom of the companies have been racing upward on exchange lately and both have been taking out some fine ores. They have splendid re-sources re-sources and with the more economical working under one head, will prove dividend earners. & & jt These are the days of concentration of oner-gies oner-gies in the mining business. Another consolidation which Is being worked out is that of tho Star Consolidated and the Black Jack Mining company. These two companies have about completed de-tails de-tails of the union and the meeting to be held on the 14th is expected to be a mere formality to clinch the matter. . Like Uncle Sam and May Day the Interests of the companies are identical and the interests of stockholders of both will be served by the consolidation. vt ijt While Tintic stocks are still well to the front there are Indications that the ancient camp of Alta is going to give them all a run and that very soon. South Consolidated stook has been Hj soaring during the past week and has reached in the neighborhood of $1.00. There Is all sorts of talk of what this property is doing and Is going go-ing to do and that it is in a prosperous condition Is evident. And not only in this property but In other Alta propositions there is an activity which seems to indicate that there is something of her ancient glory In store for the camp. While thero have been no sensational reports of strikes all Alta properties have looked good and all reports re-ports are of everything being In smooth running order- ' i & & A. 0. Jacobson says that they are taking some groat stuff out of the lower tunnel In tho South Columbus Con. property. According to him there is also a rich vein of copper In sight in another part of tho property. It Is expected that the tramway to the station will be ready by May 15, and Mr. Jacobson thinks the mine will be ready to begin sending out ore by that time. Other Alta properties show the same prosperity. The Emma has opened up some fine ore, some samples assaying 137.3 ounces of silver, 5.8 per cent of copper and ?3.20 of gold to tho ton. A big mine may be developed here yet The tramway tram-way of the Continental company to Tanner's Flat Is about completed and the stations estab-oiliaHBBHBHaHBK-a Hshed at the Columbus Con. and the Emma will' I greatly facilitate the production from the camp. j & & & ; $ Beaver county is attracting some attention, just now. As long ago as 1871 the Burning Moscow Mos-cow was worked, but of late years or until a year or two ago, only tho surface was touohed. It Is now to be systematically mined and a new company com-pany has just been formed which will take it over, along with the Extension of the same name, and other properties. Development work is to be pushed and with the copper said to bo showing show-ing in a hitherto unworked portion of the property It may yet be one of the best of Utah shippers -i as well as one of the best dividend earners. Buyers in the local stock market during the past week have been inclined to look askance at Copper Glance and the price has had a downward tendency. This is supposed to have been in con- j sequence of a rumor that the deal for control of the Bingham Amalgamated was Off. This is said j to have been Incorrect, however, as the Pittsburg- j ers who have been after the property have until the 20th to complete their bargain. Another 1 statement was that the stock was bearing beard In an effort to gather in a few loose shares which j MR1 might be floating about as easy monoy. The stoclcqholders who have all along believed in Copper Cop-per Glance are not worrying. They know they have one of the best properties in the state and that the group is one of the largest in the well known monzonite zone of Bingham. There is to no doubt with any reasonable man of the future of Bingham Amalgamated propositions. & & A. J. Davi.s, president of the olty council, came back from a Nevada trip during the week with a much more comprehensive idea of what Salt Lakers are doing in the Sage Brush state. He says he found them on all sides, both in Nevada and California. Mr. Davis was particularly interested inter-ested In the f oscent Peak section, claimed by both states. Here he inspected the Crescent Peak group which Salt Lakers are turning into what he thinks will bo a paying proposition. Other Salt Lake propositions Buch as the Lucky Dutchman, & the Yyoming in this section, and the Viola group, near Leith, Nevada, owned by A. Fred Woy and others are all doing well, he says. & & Another new -company Is to get busy in the same district. The. Combination Mining company in which G. A. Quigley, J. A. Foley, W. S. McCarthy, Mc-Carthy, P. J. Daly, and B. K. Cobb, of Salt Lake, are interested, owns property adjoining the Moscow Mos-cow on the south, the Victory on the west, the Elephant on the north and the Waterloo on the east With such old time producers as neighbors, tho Combination should prove a valuable mine. Development work has been commenced under what the promoters consider favorable auspices. (C Very few people who own shares In the Utah mlflo, of Fish Springs, are not anxious to part with them. This property is always on time with its dividends and never cripples ts resources to make It $ Every month for a long time back the company com-pany has been able to divide $3,000 or three cents a share and not oven a fire at the mine could interfere with it. Secretary Weiler, who has juat returned from an inspection trip to the property, prop-erty, says that the damage done by the recent conflagration con-flagration is being repaired and that steady shipments ship-ments will continue. Tho ore sent in from tho mine of late have been tho richest ever marketed by the company, and there 1& every reason to believe that they will continue. The Utah has a record of which many a bigger company might well bo proud. & & t W. A. Kidney, under whoso direction the big milling plant of the Ohio Copper company, at Lark is being constructed, says that the structural steel is ready and tho mill will bo rushed to completion. comple-tion. Since tho company began the erection of this plant at the mouth of the Mascotto tunnel everything has run most satisfactorily. The mill will have a capacity nearly as large as the now big mill at Garfield and it is expected will bo ready in the fall. & Everything seems to bo running very nicely with all tho Bingham propositions. L. S. Cates, of the Boston Consolidated, says tho four big steam shovels are tearing away at the copper porphyry deposits at the rate of 10,00,0 to 12,000 tons a shift, and he has no doubt of being able to get enough ore to give tho big new mill at Garfield the 3,000 tons a day it can eat up. Tho tramway Is now being installed and will be ready as soon as the mill Is. & & & Traction trains are now being used to get out the ores from the Nevada-Douglas mine at Yerington to tho station 10 miles away, and have proved a big success. The trains consist of an engine, tender and throe trail wagons with loads of over 40 tons of ore besides the freight of the company. Another of these traction trains is being installed for the Nevada-Phoenix company, at Tenabo, in the Bullion district, to haul ore to Beowawe, 24 miles distant. & Nevada-Douglas had Its annual meeting the other day and made a great showing. Few companies com-panies have managed to get In as much development develop-ment work in the first year with as good re- suits as has this company with which Salt Lakers have boon actively connected from tho start. The company has spent three and a half millions of dollars for property purchase, owns 29 rich claims, an Iron mine four miles away and mill sites and water rights. It has tremendous bodies of ore and may well bo ranked with tho big ones. & & jt Colorado Mining during tho weok made a sensational sen-sational run, reaching well over ?3. It shows no sign, of weakening and many sales at the big prices have been recorded. it & & W. C. Orom, who was recently down to tho Nevada-Douglas mine, says tho company is banking bank-ing on electric power to do its work. Polos for tho power line are now going out and the lino will soon bo under way. Mr. Orem says the Yerington Consolidated and other Yerington properties prop-erties are all doing well. Mr. Orom is not alone in thinking Yorington will bo a groat camp. B. F. Dolmas, superintendent of the Zenoli mine at Palisade says- it is a world boater. Not only has tho district mammoth ore bodies, but the ore is of a vor yhlgh grade. Oro, ho says, Is everywhere in sight about the Bluaaton, Ludwlg and Nova-da-Douglas. Other camps in Nevada may bo overrated, over-rated, but not Yorington. |
