New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-11-06

hans be found further east than was expected. ne
Yves, branch o. thc lode carries me craze OF ore;
A II. iyate letter dated October ZS) IRON gehue-
man who has lust examined the mine III tIe 'UtcI-
est, Of Eastern capitalists says that upon examlha-
ii0a the showing IN the Ihine cAoeeicu ~? ""' i
sauQIue eXpcC cations ~ regard 10 ~. f'"!''y az"
Quantity of ore. Assays 81 30 10 TlG3 per tpil
Since the oh OF October when tho Silprf1n'n"-
ent Of the Leadvil'e Mining COMPANY TOOK cn4Iso
of the work in the Carbonate claim, whch had oe-
fore been worked by the miners uhder II
lease, very satisfactory developments nave
been made. High grade ore %"s o, udIt ,vit IN
waste and partly tmbered over ana 0peratons aC
this point have been very encouraging. More thah
~ 900 had been paid on Indebtedness Dciofe Octp1
Der 90 and il was believed that -, 900 more would
be paid by November |.
The president and vice president Of the Horn
Silver Mining Company have recently returned
from the mine at Frisco Utah, and the directors 81
the company have issued a statement informing tht
stockholders of the progress made TOWARD
Ing basis. Tie railroad from Salt Lake
to the mne aud smcit"rs, which was delayed
by many unforeseen difficulties has been hhLhed
and runs directly TO the ore bins OF the mlnc the
company having built branch tracks 10 tne
smelters and abont tho mine, thus greatly
facilitating. and reducing the cost tG ol
capacity OF 800 tons per day havo been com
pleted in the shaft, and samphng works OF
like capacity have been built nj the mine. with
ore bus underneath. holding 200 tons each.
Extensive refining works, capable OF refining
and parting 80 tons OF bullion daDy,
fee by the company. The completion OF tine new
smclters already IN process of erection about six
miles south OF salt Lake CITY, on the Utah southern
Railroad, the capacity of which VIII be 4OO tons
charge daily, is all that Is necessary to
handle the Increased output Of ore. Work - pro
crossing daily, and at night by electric light. In
the meantime ores will also be sold to other works.
The old smcIters at Frisco have produced sufficient
to pay for all improvements to the present time;
from these old works had 1t not been
for the lack OF water. The daily average OF ore
smeted in the cOmpanys snciters Tor the past year
has been only 80 tons owing to the smancss of tho
stacks and limited supply of fuel and transpOrta-
ton. The company express the firm beHet that
upon the completion OF the aforementioned WORK
they will be able to pay regular and permanent
dividends. M
The annual report of the trustees of the Chrysote
Mining Company shows that the cOmpany's mines
have produced 1862 tons of ore, netting from
smcitcrs T22iS, il3 50, or an average OF SOL ~
that dividends have been declared amounting !
TO 81 100 GEO, and that purchases OF property !
have been made at a total cost OF S29l2OJ 80. |
The obligations incurred III the purchase OF prop !
erty the attempt to maintain large monthly diyl- |
dends. the borrowing of money, etc, brought The |
company into serious embarrassment. On the |
list of August the debt amounted. rs nearly as could
be asccrtamed, to %}59G2l, almost all OF which
was drawing interest at an average Of about per |
cent per annum. Earnest efforts were made 10 pay !
this debt, prospecting work was restricted and q |
considerable number of men were discharged.
4 bout the 1st of October this debt was prac-
ticay all paid and the manager, at his earnest re-
quest, was permitted 10 tcduce tie output of ore.
and to devote the larger part MS lOfC' 10
new ground In the nine. On the LIST OF
September Mr.. Charles NJ. Rocker was APP
pointed general manager, and took charge of
the mine OH the 10Th. On the 18th of October fire
broke out in the mine. aud although some work has
been done since then IN the nine, operations were
again suspended. The danger il, however, now
over, and the ultimate damage will be lnsg- |
nhcant. When operations we're interrupted by
tie fire there were promising exposures of rich ore
in several workings and in directions previously
asserted to be barren. The latest developments in
iicate the extension OF the ore north. south |
and northwest. But a small portion If
the total area of the company has as yet been
worked. The new management promise to " con-
duct the business as Il business, without reference
pay dividends from the earnings OF the company
hcn the money has been earned and safely BE- d.
yIded.' Since the occurrence OF the fine the gen
5ral manager has introduced the ten-hour system in
place Of the eight-hour shift, and he believes that
POO per day Will suffice for extraction and
a moderately vigorous system % prospecting.
The South Horn Silver Mining Company was in
'OrpOrated November +, Tor the purpose OF working !
he Americas claim, which Is the second south
'rn extension OF the Horn Silver mine, in the San
Francisco Mining District. Beaver County,
Jtah Capital,o $2,Q0OOoO, in 100000
K. Stafford. j. J. Duane, Richard J. Morrison,
E. c. McCormIck Elisha Riggs and Henry Brad
rcct, of Ncw-YOrk; Hamilton DisstOn Philadel- |
)hia 4. g. Campbell. Frisco. Utah and Thomas
twing, of Ohio. Offices: New-GOrk and Frisco
Tie Ontario Silver Mining Company has de-
aed its sixty first dividend tor the month Of Octo-
Der payable November -, ar Wells Fargo X Co.
he payment of this dividend will make the total
mount of the distributions to the stockholders
60 O5O, 900