OCR Text |
Show COAL COMPANY I IS SPEEDING UP Lgffl Contract Placed for I, umber um-ber for Construction of Atria Tramway. DEVELOPMENT OP MINK TO COMMENCE AT ONCE Capital Stiwk is Increased to Million Shares. t.'reen Residence is Being Remodelled for an Oflicc Building. President F. W. Webb of the Iron County Coal company and Judge S. R. Thurman, consulting attorney for the company, came In yesterday on business connected with the affairs of the new corporation, the matter of titles to some of its properties being the chief business of Attorney Thurman. Thur-man. President Webb reports that every thing is moving along satisfactorily, and that a force of men will very shortly be put to work scraping and blasting out a level terminal for the upper end of the tram and an en trance to the mine. This work has thus far been Impracticable on account I of weather conditions, but will be done as early as possible. Mr. Webb tes, however, that it will be neces-lary neces-lary to import laborers to do this Work, on account of the scarcity of men here who have the training and disposition to go upon the mountain at this time of year to do it. Mr. Webb has put a force of men to work upon the Green residence south of town which will be squared I and titled up and used for an office ' and store house for the company. Capital Stock is Increased. Pn Feb. 23, by an action of the' board of directors, supplemented ly such legal proceedings as were necos- jsary, includinp the payment of nenrly 200 into the state treasury as filing ! fees, the capital stock af the company i was increased from IfiO.OOO shares to '1,000,000 shares. It was found that the original capitalisation would not! be sufficient to cover the contemplated project. The stock of the company continues to meet with a ready sale, particular ly ill the north, although there huve been a number of subscriptions by people of Cedar City and vicinity. Last week, Mr. Ukenesky of Helta, who was sent down by S little group of investors of that place to Investigate Investi-gate and report on the project, made his report before leaving town by subscribing and paying for 5,000 : hares of the stock individually. Large Order for Lumber Placed. Mr. Webb announced the placing of an order for 100,000 feet of lumber with the Merrill Lumber company of Sail Lake City, and in order to meet the traffic situation in the handling of this and the machinery required for the tram, two larpe caterpillar tractors trac-tors have been ordered. Additional lumber will be purchased from the local mills, but it was found that they were not in a position to ipply the lumber nearly as quickly as it would be needed, and it was tin refore necessary to go outside far a large part of it. At the commencement of nert week the Iron County Coal Company will have a force of ten men or more at Work at the mine and on their office building, and it is proposed to push development at the mine vigorously order to have it in n position to supply the required tonnage to the tram by the time it is erected. Mr. Webb stated that there would be s number of other acti itii - itarted here in the near future, but declined at tin. t line to discuss thl 1 ' Mr. Webb returned to Salt Lake City this afternoon. Attorney Thurman Thur-man will remain until tomorrow, |