Show f ining matters 1 NEW HOIST STATION BEING CUT the new hoist station of the park utah mine is being cut according to oscar friendly chief engineer of 0 the park utah consolidated mining company who came up from salt lake wednesday to remain a day or two at the big property machinery is on the ground which when set up ip will make the new hoist one ot of the most up to deate installations in the west actual working capacity ot of the new pumping plant of the park utah mine is i better than estimated instead ot of throwing 2700 gallons a minute as was stated by the engineering department part ment the two new nevi cameron centrifugal tri fugal pump units have a capacity ot of 2883 gallons each or practically 2900 gallons each together the two units will burnip over gallons a minute instead ot of gallons a minute as estimated this is with the third unit which la Is always w ays held in reserve resting J STILL squabbling THE GLENALLEN As stockholders ot of the glen GIe naUen ae a I 1 mining company joseph S grace is 91 given v en twenty days to amend his complaint against joseph F featherstone francesco william anderson and others from whom he Is to regain property ot of the mining company which was sold by the sheriff of summit county at a foreclosure sale isale says Sund lays tays salt lake tribune the decision in the case which was handed down by judge tillman D johnson in the district court yesterday makes it necessary ana that t information be filed showing that the glenallen glenellen Gle nallen mining comi company kanj as at present constituted either refused luse 1 I or neglected to bring suit it is alle alleged gedl by the plaintiff that purchase wals wais by interests controlled by persons who were fiduciary agents of the glenallen glenellen Gle nallen mining company at the time the sate saie was i consi consummated im mated and that the purchase was consequently made by trustees of the glenallen glenellen Gle nallen alenin mining g company and so is the property of the company andl its stockholders THE OF 01 UTAH GROUP charles boore amoore jM I ane well known mining operator an and d promoter returned tuesday of this meek aleek from a trip out of the stat elom mining bas 1 ness when asked regarding the t he star or of utah property which is promised to cause a stir in 10 local 1 mining circles in abb not distant future th the e g gentlemark gentl gent emani lemarb informed the record man that the loose ends endis of the big corporation por po aaion ration i ere slowly being gathered k f in and before the end of august stock in the new corporation would be ready tor for issue and work of development on a large scale A detailed account of this big I 1 organization will be given in these CO columns within the next two weeks i for two weeks past a small force of men have been employed in 1 work acreage is ib being added to present holdi boldi ings of pany and wh when en full are pub published dished local people will marvel I 1 at the of this new mining venture and the proposed plans tor for its development it is a big consolidation soli dation with big mining men and big capital to manage equip and drive for the big ore bodies known to exist in the eolith end of this wonderful district watch park city grow PROMOTION STOCK SlI SHOULD BE HELD INTACT it was luring during the goldfield boom days in nevada some twenty years I 1 ago 2 that 2111 a kawwas was passed making it imperative 11 ll 11 tor the mining comi pany to stamp treasury stock or of the company so that abie it buyer v would be informed that he waz was not buying the promotion shares iset bet aside tor for the officers otti cers or given in payment for the property sas the denver mining and financial record the buyer wanted to know that the money he was paying for or his shares was going into the treasury of 0 the company to be used tor for the development develop ent 0 of the com banys holdings it was a good law but should not have been necessary the promoter who is honest in his work of 0 selling belling development shares to the public should hold his shares just as the buyer should hold his all should await the outcome of 0 development it Is certainly a tricky practice tor for the promoter or officer of a company to sell promotion stock in competition with the treasury shares ml lares particularly it the company 10 paying pakying tor for the publicity necessary to market the stock over capitalization Is one of the evils that befalls a company that is burdened with excessive promotion stock it is quite proper tor for the men who secure the properties and organize to develop them to take down a fair amount of oe stock for their work but it if they have enough conr con ina in a property to warrant the organization ot of a company and solicit subscriptions fr arami the public they should have confidence eno enough ugh to keep their shares intact ands and play the game to the finish with the balance of the shareholders investigate before you Y ou invest and select shares in a company that aphea appears rs honestly capitalized and is offered by tren dren of standing andine st who are in the business ot of makins macint money out of the ground and an d who do not expect to win it if the company is not successful buy treas treasury ury shares direct from the company or its authorized agents find and make sure atiat your money me uey will go into the treas treasury nrY ot of the 00 tor for the development of the properties CROSSCUTS john D fishr fishe r was in the park a few hours houn wednesday ot of this on matters pertaining to the star ot of utan property park Stand lard was one of 0 the unlisted stocks sold on the salt lake mining exchange the past week reports from the prop arty l olae ola t 9 dt e promising nature the private roal roadway dway ot of the silver ain king coalition from woodside canyon to the mine is being improved and made eight feet wider which will permit the passing ot of automobiles and other vehicles with plenty ot of room to spare STOCK SALES IOK WEEK FRIDAY park bingham 2000 at 21 1 ac park utah at andl SATURDAY park bingham 1000 at 21 91 1 ac silver king Co coalition aitio at park Stand lard tard 1000 at lie MONDAY park bingham 2500 at 21 11 1 1 ac c silver king coalition 20 at park utah loo at TUESDAY park bingham at park utah at WEDNESDAY silver king coalition 13 at park bingham 1000 at SHIPMENTS park utah consolidated silver king coalition 2956 ontario 7 total |