Show Edited Mines and Mining Sprague F F. DV DW W. W JENNIE MINE IN BIG MERGER 1 Consolidates With Snowflake and aud Finances for Power Plant i SOLVES ALL PROBLEMS jf Gold oId Springs Properties Bei Believed Believed Be- Be i to Be in Position to Pay C I At special s of at stockholders rs ot of the Jennie Jonnie Gold GoM Mining company and andI I tto Snowflake Gi ld Mining Power company compan held yesterday esterday In this city and Gold Springs arrangements were i completed to consolidate tho the two com com- l under the tho name of ot tho the GoldI Gold I Mining Power company n and to to tho now new comp company D for tor a a. camI cam cam- I which wilch should mean much for tor tho the Gold GoM Springs Spring district and for stockholders stockholders stock stock- holders of ot the tho two companies directly concerned Y Issuing of ot year ten-year nix Ix Ix per cont cent coUI cou- cou I bonds bond In tho the sum of by the tho new ntH new company was authorized Of Ot these theno bonds worth have havo already sold to tho the Investors Inventors Corporation it Trust company of ot Columbus Ohio land anti tho the remaining worth Is la to Io held hold In trust to be bo sold cold later for tor Improvements and betterments should i tho need arise The now company Is la capitalized for tor shares per par value 91 1 I a share sharo C Co A. A Short 1 lit Is president of ot tho the company compan A A. AS S. S Martin Is vice Ice president II 11 II n. secretary and treasurer and those with W. W B B. Short W. W If IL Bramel V. W T. W. Barton Darton and antt G. G M. M Hannon com com- the tho board boord of or directors Places will tho made on the board rd at an earl early date data for ifor strong representatives of ot Eastern investors investors' In the company compan Jennie Gets Share for tor The plan for tor consolidation provides that stockholders ot of tho the Jennie Gold Mining Mining- company will exchange their tock stock for tor that of or the new nc corporation pharo for tor share while stockholders of ot the tho ho Snowflake Gold l Power company will receive o for every sharo share jot of their present holdings holding's sevenths four for of or n. n share shore of ot tho the stock of ot the tha now new compan com corn pan pany y Tho The Gold Springs Mining Mining- Power company takes over or all of ot the tho property I and franchises of ot both of ot the tho jold lold companies Tho rho holdings embrace Iii 11 claim claims nine of at which aro are In the tho State Line Lino Mining district Utah while live ilvo are In the Eagle Valley Mining district Nevada Novada The rhe two groups of ot claims are contiguous however howe and are admirably I for being worked economically as one estate On the Jennie group Is a stamp Nissen-stamp mill oCcIa of oC cIa close so to tons a a. day capacity together to together to- to together gether with cyanide plant and modern equipment Tho mill was completed last December Do- Do cember camber and was operated for tor a 0 time with excellent success so far as th the saving paving values alucs was concerned as well as ns proving that tho mino Is capable jOr of producing a n. largo tonnage of ot pay ore ore But Dut power troubles arose which prevented pre the thc plants plant's being operated on full fun time n the tho use of or gasoline engines and on account of ot I numerous delays In r receiving shipments of ot distillate and adverse erse conditions j r under which the gas Jno engines wor wore wor compelled to operate the tho management found It Impossible to get results counted upon Will IU ilI Dull Power Plant With tho view of ot solving relying the tho power J problem Short Elliott and Martin formed the Snowflake Gold Mining Power company compan and In attempting attempting at at- tempting to finance that company compan they thoy eoon discovered that It would bo to the thA Interest of or stockholders as asell well ell as moro more satisfactory to prospective Investors to consolidate the Snowflake and the Jennio companies With the tho money available from the sale eale of or bonds and treasury stock of at which it has haR shares the new company proposes ses to at once equip Its property to handle tons of ore oro a day to discharge al ab indebtedness of or tho the Jennie company and to build at Modena the railroad station for tor Gold Springs district a electric plant which will wUl supply sufficient pow pow- Cl er for all oC ot tho the operations of ot the tho com com- t. t The Tho power plant to be installed for tor which orders aro are to bo be placed during durin tho the week will b bo a n. producer gas plant with producers gas engines generators and full electric equipment together with a ten mile transmission line lino from Modena to Gold Springs At an nn early date the company expects to double the SiZe site Ue of ot Us Its power plant giving it clent capacity to provide power for tor all 1111 of the other properties of Gold Springs Pay Fay and Doer Lodge districts This will vill 1 10 be e the means of at placing a n number of at mInes of districts upon a 0 payIng payIn paylag pay- pay In lag Ing basis and at ot tho the sarno samo time will bo be 0 a source of ot considerable profit to the company compan furnishing tho power Many Change at ot Mine lIno At tho mine mica numerous changes chances and Improvements will bo ho m made mado de at once ol The g gasoline engines will be replaced wita motors and everything I will be operated upon Jho ho he single unit plan tho the first plant of or its kind to be installed in tho the state A much larger large compressor will bo be Installed additions addition will be bo made modo to the tho cyanide plant and am an auxiliary crusher will be bo In put in giving ln 1 capacity of ot fully tully tons a n. da day rho Tho shaft is to bo ho sunk deeper an and from the tho foot toot hovel drifts will wm bi be run east cast to the tho Jennie lodge and west est to tho the Sno Snowflakes Snowflake's great ledge maltIng malt mak In ing tho the large largo ore oro bodies kno known knon n to exist in lii both hoth place available for reduction at the mill rom Results of or recent work in tho the mine are arC highly gratifying 1 In a n. sunk Bunk on the vein from the toot foot bevel lovel the C oro body has widened and values alues have o increased until at 30 ao fo tout t depth is exposed ex ex- posed a width of or six feet of ot ore which gives Ives better botter values in gold and silver th than n have havo over ever before borore boe been shown In tho the mine |