OCR Text |
Show COAL MM FOR CEDMSURED Wm. Peterson. Geologist and Mining Engineer, firings Us Good News. COMPANY INCORPORATED AND PROPERTY BONDED Engineer's Report on foal will be Fa-vorable; Fa-vorable; RiiKinering Feature Little More Difficult than Anticipated. Possibly the most important happening hap-pening in this section the present week, the Round-Up not excepted, was the visit of Wm. Peterson, geologist and mining engineer, to the Green coal property and the assurance that he brought of the early development of that property on a broad and systematic sys-tematic scale. Mr. Peterson stated on his arrival here that everything was dependent upon his report of the mine. That a company of Utah capitalists, cap-italists, a number of whom resided in the south, had been incorporated, and that a large amount at the Stock had already been subscribed, and that it was the intention of the promoters to install a tram with ample 'bins and other conveniences as early as the condition of the roads and ground became be-came favorable. Ho stated that the property was securely tied up with an option and that immediate steps would be taken for the redemption of the property from the $10,000 obligation for which it was sold a few months since. Six months are allowed for this, so that there is no possibility of a hitch in this quarter. It was anything but a pleasant undertaking un-dertaking to climb the mountain at this season of the year, through the deep snow on horseback, but Mr. Peterson Pe-terson did not shrink from the undertaking. under-taking. He was accompanied by Mr. Harrison Green on the trip. To a representative of The Record Mr. Peterson stated after his return that the mine and coal were all that he had anticipated, or better, and while the general contour of the country coun-try was rather more rugged than he had expected to find it, making the cost of installing the tram a little lit-tle more than had been anticipated, he said that his report would be decidedly de-cidedly favorable and that he did not look for any change in the plans of the company. Mr. Peterson has the reputation in mining and engineering circles of being be-ing ultra-conservative, so that when he reports favorably on a proposition it comes very nearly being final. Not only this, but Mr. Peterson states that he is putting some of his own money into the proposition, and that other members of his family will do likewise, like-wise, which is pretty good evidence of his satisfaction with the outlook for the enterprise. While here he investigated as far as possible the probable tonnage that can be developed in the southern part of the state with the scientific and systematic operation of the property, by proper mining and sorting of the coal, and the keeping of an abundant supply of assorted coal of the various classes constantly on hand in the company's com-pany's bins. He seemed to be entirely satisfied with the informstion he was able to obtain along these lines. He also obtained figures on the transportation trans-portation of the two miles c steel rails and other heavy materials and machinery that will be needed In the construction of the plant, which was also very satisfactory. It is probable that this freighting will be done a-bout a-bout the time the wool is hauled to Lund, thus giving the teamsters loading load-ing both ways. While the installation of the tram and the development of this important impor-tant industry here may be the means of hastening the construction of a rail road to this city, the enterprise enter-prise is in no way dependent upon the building of the road for its success. The promoters are not figuring on a big coast market for their product, but will look to southern Utah and possibly scctiins of Nevada for their trade. Mr. Peterson states that coal for shipping trade on the coast can be delivered more cheaply from Oregon Ore-gon by water than it can by rail from this point. He does expect, however, that when a railroad is built here that they may supply a considerable inland in-land market in portions of Nevada, California and Arizona. Among others mentioned as financially finan-cially interesed in the proposition are Judge Joshua Greenwood, Pres. E. H. Snow of St. George, prominent residents resi-dents of Millard and Juab counties, and a number of influential capitalists in the northern part of the state. Dr. Green has been in Salt Lake for some weeks now working on the incorporation of this company, and is to be congratulated upon the success suc-cess which he has attained Mr. Peterson is among other things geologist at the Utah Agricultural College, and while here delivered two highly interesting lectures to thoac registered at the Kound-up. |