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Show FILLMORE ORE ZONE SENDS COMPASS CRAZY Below is an account of the operations opera-tions of two mining companies operating oper-ating in Millard county between Fillmore Fill-more and Delta, where the magnetic attraction of ore is reported unusual. The Fillmore Progress says: "President Banks of the company, at the time of his recent visit to Los Angeles, m,et with more success in a financial way than he anticipated anticipat-ed when he undertook the journey. He succeeded ln Interesting Los Angeles An-geles and New York capital in the mining property and placing it on a dividend basis. He, with a number of Los Angeles moneyed men organized organ-ized the Silver Tip Mining Company, with a capital of $500,000 divided into' 500,000 shares of $1 per share par value. Of this capital stock 300,-000 300,-000 remains in the treasury for development de-velopment purposes, the 200,000 remaining re-maining is divided between the promoters and the King-Silver Copper Cop-per Mining company's stockholders pro rata, according to the number of shares each stockholder owns. The King-Silver deeded part of its property prop-erty to the Silver Tip company in consideration of some of the stock of the Silver Tip company and retained re-tained title to the remainder. Mr1. Banks, being president of both companies com-panies Insures an economical administration admin-istration of the affairs of both and a vigorous prosecution of the work of development. "It is the intention of both companies com-panies to immediately commence the development work by the installation installa-tion of machinery of the most modern mod-ern type and construction and to employ em-ploy all the men that can profitable be worked and rush things as fast as money and men can. The property of the two companies is located about 22 miles east of Delta Del-ta nnd about the same distance north of Fillmore, in the Canyon range of mountains. This property has been exported by eminent engineers and pronounced one of the best minerall-ized minerall-ized zones in the state. The minerals mine-rals being so dominant that the compass com-pass of the engineers In the employ of the government, who tried to survey sur-vey for some lines, would not work to perfection, being deflected by the mineral attractions on the needle of the compass. The head office of the j two companies 1b at Delta." |