| Show lively activities s in salina coal loom men nid and teams buy bivy grading for it railroad stough the canyon the salina canyon coal conopa company nv of which we reported in our issue of october 20 that they applied with the state st securities commission for it a permit to float a bond issue for the purpose of developing and exploiting ing their valuable coal properties in salina canyon have been granted permission to put the bonds on oil the market and preparations are now under way to go to work dvork energetically getic ally heber C hicks secretary of the SC securities commission personally checked oft off on the application and submitted his doport and from this official document we nye tako take the following outline of tile the corporation and its plans the salina canyon coal company is a corporation of divided into shares at a par value of 20 cents all owned by the officers of the company who nho are J Q ryan president R M lehman vice dent and treasurer and L E cluff secretary by a bond issue it is proposed to raise the necessary F iry to develop and work the properties fifty thousand dollars worth of these closed first mortgage ten tell years ears bonds are to bo be placed in the state of 0 utah the remaining have been contracted for by an eastern firm the assets which are being bein mortgaged by the bonds consist of 1887 acres cf coal bearing lands and one third undivided interest st in additional 3 acres of 0 coal bearing lands all situated in salina canyon in sevier county together with i ith some water filings for power purposes in addition to this acres are under negotiation for a lease from the government and plans aie under way for the purchase pui ru chase ichaso of acres of additional ground all the lands owned by the company 1 aie located between mile posts 17 and 19 in salina canyon where the col coal outcrops indicate that there is S an extension of tile the coal seams scams in carbon county the companas comp anys holdings are claimed by geologists to be ba free ct c faulting two seams of coal have been prospected the upper 50 inches thick the lower 46 inches in thickness they ar are re 20 feet apart from each other and a 14 foot seam not prospected yet is running between them diamond drills will be used to determine it if these three seams will converge to make one large vein at the lie point where it is planned to make an entrance trance into the mine the mountain rises abruptly about 1400 feet making the distance to a commercial coal body less than feet the engineers report claims that there is approximately 90 million tons of recoverable coal underlying the property and it is also stated that this coal is an exceptionally high grade fuel the D R G railroad had a road formerly extending some distance up salina canyon but it was abandoned and tho grade was washed out cut by flood waters now the railroad company has again started to build a road and is safeguarding the grade grada against further floods A foice of men and teams is at work doing the grading at present and the company has reason to believe that the railroad will be completed by the time coal will be ready for shipment will the lie D R G R R build tile the salin Sa lill canon cannon railroad Raili Rail oad toad according to information furnished us by the local forest office there has been since august 1887 applications for nineteen right ot of ways for the construction of a railroad through salina canyon these applications have been submitted by twelve different railroad companies the D R G R R company now has a small construction crew employed in repairing and reconstructing the old railroad grade through salina canyon As to whether this work is i being done in order to use tile the grade for railroad purposes or simply to hold the right of way is not understood |
