Show 1 If MINES AND MINING I I EDITED Y liY Y F. F W. W ep I YER LO MAMMOTH TO A mil W AIr mi ORE MARKET i i S J 3 Subscriptions for Proposed t Bonds Do Not Justify Issue t C. C CLOSE 9 FOP SIX W WEEKS KS k S In That Time United States p pr Ti Tintic p Sm Smelter lt r t ty Ta Take Ore are 4 S r The Lower Mammoth 1 mine wi will bo be bord rd- rd closed down until such such time as tho the company compan shall be enabled to market its which it Is believed will hardly i S S exceed six sL-c weeks That would be beS be'S beabout beabout S 'S J S about th the Ume timo the United States cornS comp company com corn S p pany ny w would uld be ready realy to rec receive lve ore ore InS Inthe in inthe S the event e that Its petition for or a modified motHr motH modi r S. S fled fied dc decree ree rec in the smelter smoke case 4 Is acted upon favorably and the tho theS I S Lower Mammoth has hM an d smelting contract with tho United S S J States company Should tho the United States Slates be unable to to tores res m operating lg S its smelter the Lower Mammoth has i I 1 another chance chance tha that of o selling Its ore oreto oreto J 4 t to the new Tintic smelter The management management management man man- of or the new new smelter smeller has al alS already al- al r ready d dy madje e the Jl ip company y 9 a t 1 S f favorable offer offer for or its Its ores That S S S smelter Is due to go Into commIssion n some time tim Lime J In May and it is pr presumed I S that ore will bo be taken several weeks weel s ahead o of final completion of the plant I The Tie decision to close down development develop develop- ment mont w work rk was reached at a a. meeting meetingS r of oC Lower Mammoth l directors held helcl S yesterday It came as a result of ot the S company's recently authorized bond h 4 4 issue having failed to meet with the demand that would seem to Justify the bonds being Issued The bonds S were vere Vere to have ha drawn S 8 per cent Interest interS Inter Inter- S est eat and were to have been convertible Into stock of ot the company at par or S 1 1 a share at the option of oC the holder hoder S within a stipulated stIpulate Um time Ordinarily S the proposed bonds would be regarded an excellent Investment the S 8 per perS percent percent cent interest being a. a assured with the I Il S l added chance given of or making a a. I profit on the stock Bonds Not SI Subscribed b crl l F For lt I But put at this particular tr time there thereS 4 seems to have been a a. scarcity of or S I I m money ncy for Inv investment mt among Lower 1 M stockholders elS and ana outsiders S. S 1 1 were no riot not Inclined Inclined- to want the bonds bond J when i sirs Insiders were ere not not taking them thorn S Only a small smal pr proportion Q qt the proposed pro S S pos posed d Issue was Vp subscribed for 5 pro the bonds w t. t t d' d r f 1 j cv is- is ot tl r 5 the theore ore bodi bodies s In th or o S the mine nIne The The most Important Important work ork c contemplated t w was s the extending of or th the theS S S main working s shaft a t from the tile 1200 I I- I S X I l level leel to the thc 2900 2000 level leye This w. w would ld S not nt only haye have facilitated the thc opening openingS of the ore ro re bodies on the lower lowe levels S I S J but oJ tlC would have made the tho mining mining of J the ore moro more economical for all 01 time j r ut with wih the the- the r failure of ot the bond luet Issue lue 1 this w work rk must be abandoned for the 5 J S t pf for roi the Ute manU management mc is op op- op ed to l I levying v an nn as assessment 4 s There T re Is plenty Q if ore to be t taken en S out opt I as os soon as as a a market is established an 1 the future so fart far as as ascap t nIl S ca car cap lle no n I be bo fofe forecasted ted will wi be to tol S 'S develop delop the lo lower ci leve levels s only a as It c can n l proceeds or of pro production from tron j t b e r GOOD D ORE I 13 DIAMOND 1 S QUEEN QUE tess Leasers Work high Grade cc Streak With WIh Fine Yino n Results r L Leasers rs n the tho o DI Diamond Queen property Y in the Bullfrog district In inS S which Salt Salt Lakers Lers are re heavily nea Interested Inter Inter- S este ested 1 are drifting south on on the lower lower lower low low- er tunnel and are arc ac following a vein veinS S f from three thre t to three and a half hal feet teet I w runs 24 24 4 In gold a a. D ton tonj S. S S ji o abc t SIX x Inches of of this Is v vein l l wi r n from from 00 to to 50 In Go gold gd d. d The Tho high grade Is i being sacked for forN N shipment The They now have sacks on onS S the dump and as soon as 20 tons are r ready nd V carload will wU be supped shipped to toS S tho tho American Sm Smelting Ung company company at Salt Ll Lake City A ton a day Is being b sacked from rom the vein In the upper S tunnel which is' is but hut smaller 7 The rhe ore from both tunnels tunnel Is taken S out in tho the process of ot d development work only nh as s they are getting th the J Vor workings s in shape pe to o increase th thOS the thO L force of at men the tho first of ot April S Two more moro applications for leases t. t 5 on 01 the Diamond Queen havo have been bee r made and will WUl pro probably bly b be gapi granted within two wc weeks S Returns have hav just been bep received S from a a. sample ta taken n on sr groundS ground nd S owned by b James J m s Rooney and Ed EdS S 5 Spence about 2000 feet above the thc Diamond Queen Quein on the thc same ame moun moun- S 1 tam tain it t showed values cs in J gold god ld silver r. r S y lead and copper r totaling I V Their yelp velp Is tr three ree feet wide with wih a t. t streak of high grade de tp from n thren thre to S S S six six ix tn inches ies e wide 1 |