The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1879-02-01
HORN SILVER MINE.

known to Piochers by the name Of 1.-THE
Big Bonanza" is being incorporated into
company and its real merits made
known to the world, few remarks about
this wonderful piece Of mining property,
which we were once informed by pros
pector who had visited the great Potosi
mine OF Mexico and the" Chollar mine of
South America, twas the greatest mine
in the world, may BIO of interest to our
readers. This mine is situated in San
Francisco Mining District, Beaver
county, Utah Territory, tho mother rock
being granite. The first locators of the
Horn Silver mine were Sam Haulks and
Jim Ryan. These men bad been working
and prospecting in the vicinity Of it for
about four years, and one evening, while
returning from work on one of their
prospects, late in the Fall of 1875, Sam
Haulks, who was carrying q sledge-
hammer, struck boulder along side
Of the trail with the sledge. breaking
piece off, and great was his amazement
on discovering the boulder VS. filled with
horn silver. They then located a claim
and made contract with couple OF
men to sink hole on it thirty feet deep,
giving them the ore extracted in sinking
the shaft for their labor. Haulks owned
half OF the mine and Ryan and John G.
Lynch owned the other half. After the
shaft had reached depth of thirty feet,
which had been sunk in body of solid
ore, the mine was bonded and sold for
$25, 900. In February. 1876, to Campbell.
Cullen, Bryan and Dennis Rayan, the
the lucky men who recently sold one-half
the mine to Eastern capitalists for 3d.
100000, and yet retain the other half.
Messrs. Campbell and Cullen first
bonded the mine for 5000. and were
about giving up the idea of purchasing it,
but were willing to purchase half of the
mine for $12.500, which offer was re-
fused. when Dennis Ryan and Bryan
stepped to the front and said they would
take the other half at that price. and the
! mine was sold to the four above named
men. Sam Haulks, Jim Ryan and John
@. Lynch own several other good mines
in close proximity 10 the Big Bonanza,
yet they feel quite sad at selling the
greatest silver mine in the world for the
insignificant sum of $685.
The annexed item in regard to the sale
and what will be done with this mine in
the future is taken from the Salt Lake
Tribune of January 22d. The only thing
which will appear strange to the people
Of this Coast about the transaction, IL
that it is the intention to work the mine
in the interest of the stockholders. The
: Fasteners are not thoroughly educated
in the mining stock business yet:
On Monday evening Alexander Majors
received dispatch from Jay Cooke, oil
Philadelphia. who is now in Chicago,
stating that the contract for the sale OF
the great Horn Silver mine at Frisco
,, had been signed by all the parties in in.
terest. The sale, it seems, is for one.
half the mine for the consideration Of
So, 500, 0O0-the largest sale that has
taken place on the Pacific Coast in the
past seven years. 1t is the purpose Of
. the owners to stock the mine for $10,.
/ 900, OO0-the actual net amount in sigh
to-day is SIS, 900. 000-which is some
thing unparalleled in the history of any
mining enterprise in the world. Mines
usually are stocked for five times more
than they show, but this is worthy ex
T, ception. 1t will not be put on any stock
board at present, but will be offered by
O syndicates or associations OF moneyec
men. There will be 100000 at a pa,
value Of 1926, which will be offered te
i: those wishing safe investment at $12 81
+. per share. In Salt Lake Mr.. Majors will
/. have the sale of stock and will oper
F.. books for subscription in few days.
;, The management will remain in th,
hands Of the original owners for tn,
n present, and the facilities for workinl
will be increased to the requirements O
: the mine. The company contemplate
{ erecting twelve or fifteen furnaces, ant
r will produce 100 tons OF bullion per da,
a with the greatest ease. The Utah South
!. ern Railroad will be extended to tn
o mine and smelters by July, thus render
ing easy communication with the outsid
world and giving every facility for tn
Q cheap transportation of bullion. ore, COX
It and coal.
n A city of from 5000 to 10000 inhabii
4 ants will undoubtedly spring up in tn
n vicinity of the mine and smelters, an
Southern Utah will take its place anon
the first silver bullion producing section
% of the world. Salt Lake, of course, wi
>, remain as it is to-day, the money cente
y Of this rich Territory, and will reap in
- mense benefits from all these conten
"a plated Improvements.