The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1886-07-11

FLAGSTAFF.
A proposal is before the shareholders
in the original Flagstaff Silver Mining
Company of Utah. Limited, and the
Flagstaff DISTRICT Mining Company,
Limited, both of!~hich companies went
into liquidation some time ago, to con-
slider an offer for acquiring and working
silver mine adjoining the Flagstaff
and Emma mines, in Utah. IL IS pro-
posed TO incorporate a new company IN
London with a capital of ESQ 900 IN e
shares; $1,000 fully paid shares VIII be
handed over to the vendors for the
transfer. The remaining shares VIII De
offered, in the first instance. TO the old
Flaffstaf shareholders in the following
manner, namely, each SI0 share n the
original Flagstaff Company to be en-
titled TO five shares in the proposed new
company, and each FL share in the Flag
staff District Company to be entitled 10
one share, such shares to be issued to
the old shareholders or their nominees
with l9s. a share credited as paid up
thereon. An agreement TO this ell CT
will be duly registered. A cash capital
of els, eco will thus be raised, and the
whole of this Will be applied to working
don and Glasgow in August, when II IS
proposed to hold meetings of the old
Flagstaff shareholders in those cities.
This scheme is said to have the cordial
approval of some of the principal Flag
staff shareholders in London and Glas-
gov. The mine referred to is in the
same mineral belt as the Emma and
Flagstaff, and il has beeu favorably re-
ported on by two English mining ex-
perts.
SALT LAKE NOTES.
Last years favorable output of the
many mining camps tributary to the ore
market of Salt Lake City continues this
year under the well-sustained price Of
lead, Notwithstanding silver has had a
steady tendency downward in value
Some of the old districts-in fact, nearly
all the old mining districtS-are to the
front as steady producers, notably
Bingham, the old reliable" as il is
called; Stockton, 0phir, Dry Canyon,
Tintic, Park, and the Cottonwoods. All
these districts contribute ore to the Salt
Lake ore market, as well as ship TO ore
reducing centers farther East.
There is considerable rivalry and high
that the shelters profit, fear. is one of
those imaginable things that figures
cannot reach. The proportion of sui
phide ores requiring roasting and oxi-
dization become greater every year as the
mines attain depth, and in their treat
ment smelters find their greatest profit.
although they have slowly and relue
family increased and perfected their
/ facilities for treating them. Yet the day
is not far distant when carbonate ores in
anything like quantity will be thing
Of the past. and the unchanged ores will
| be the main reliance of the miner and
smelter.
Bingham Canyon perhaps presents
the earliest and strongest example OF
the replacement OF carbonates by sui
phides in mining to the deep The sui
/ phide ores carry lead. silver and gold as
saving metals, with iron enough TO
make desirable fiux.
Under the stimulus, therefore, OF q
growing market of these ores. the
mine owners are awakening 70 sense
OF the value Of their mines IN depth,
and some are sinking or driving tunnels
to open them more extensively.
The deepest point reached has been
by the English New Last Chance Com
pany, which, by tunnel $500 feet
in length, has just tapped the vein al
q depth Of 900 feet, and has begun 10
drift on its course with fiattering pros
poets.
The operations of this company will
be watched with much interest; for Its
vein near the surface, and 10 a depth oil
from 400 70 500 feet, yielded 1t is said
about 81 $4,000
The vein is q mastery one, as q
course northeast and southwest. and
dips almost vertically at the discovery
shaft. The formation is syenite
The history of the company has beer
like that Of many other English cor
porations that have passed through s
long-continued experience of mistakes
and disappointments, through all o.
which, no geYer, the property has beer
held, and is ROW judiciously prospectec
and managed by = capable mining sup
lerintendent of more than local expert
ence and reputation. b. W.T..
SALT LAKE CRY, UTAH, June %.