The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-09-30

creases in richness as depth is at
tanned.
Tuesday last, was the day named for
the sale Of $780, 900 of the bonds of Salt
Lake City. Two bids only had been re-
ceived at the hour announced for their
opening. The bids were opened, but no
action taken. and the matter was
further discussed by the CITY Council
In executive session on Tuesday even |
ing. No determination was reached
however, and to the queries of the re-
porters, the Recorder replied there was
nothing for the public as yet. Wednes
day evening, another meeting was
called, presumably for the further con-
sideration of what appears to be q
knotty question, but quorum of our
fathers tailed to assemble, and no
action was taken. 1t is quite probable
further action will be taken at the next
session of tine City Council-Tuesday
evening next.
"The copditipn of the Salt Lake min
ing STOCK market" said President
Davis, in answer to the queries of re-
pester, sis not at all satisfactory.
There have been some few changes
since your last report-soDe few shares
having changed hands, but nothing of
any great importance. The winter,
however, will see decided revival"
According to the Mining Journal Of
a late date: !!Horn Silver matters are
progressing favorably. The election
will be held in Utah. October I'd, when
another attempt will be made to GUST
the Francklyn crowd. Proxies are
coming in rapidly. Mr.. A. G. Wash
ington will probably go to Utah to
represent the stockholders, who favor
Francklyn's retirement"
The DAILY dividend was payable yes,
terday.
The articles Of Incorporation OF the
Permanent Building and Loan Associa.
ton, of Ogden, were fled with Secre-
tary Hall yesterday. The object of the
company is "to raise funds In shares not
exceeding 500 each, payable in period
cal instalments; to make loans to its
members for the purpose of aiding
them in acquiring and improving real
estate and erect dwellings thereon to be
sold upon the instalment plan, or other
wise" The capital stock is placed at
81 900 600; 10000 shares of the par
value OF 500, which is subscribed for
as follows: ]. K. Middlemiss, five
shares; W. Van Dyke, five shares: w.
K. Williams, five shares; R. Robinson,
five; D. r. B. Shepherd, five; James
Mcintosh, FIVE; J. ]. Sullivan. five J ohm
Hamer, five; N. Tanner, Jr., five.
James Mcintosh is named as president;
r. Robinson, vice-president; W. Van
Dyke, treasurer; W. R. Williams.
secretary; n. Tanner, Jr., attorney and
J. K. Middiemiss general manager, and
these, with the other subscribers, form
the board of directors. The corpora
ton is to exist for the period of fifty
years and there is the usual provision
that the private property of the stock
holders shall not be liable for the debts
of the company.
Mr.. D. II. Mcneil, one of a party
now surveying the northern country
for the Dominion Government, says the
mining carried on along the Yukon is
done in this wise. The river freezes to
a great depth, and on the banks and
bars the ice is generally solid to the
bottom. The miners cut away the ice
and then dig up the gravel, which is
also frozen, and carry it on the banks.
This process is continued till the river
breaks up for couple of months, when
the dirt is carried back again and
washed for gold. In this way, says the
informant, one man took out 81 900
but it is hard work. The gold is prin
cipally coarse, the largest nugget taken
ont being valued at $40. This nugget
was lost, the discoverer being drowned |
short time after he found it. His
name was Michael Sutferin, Canadian.
Provisions are pretty dear. Flour is
$3.50 per hundred pounds; bacon, 40 |
cents a pound; beans, 30 cents; |
sugar, 80 cents; dried apples. 30 cents,
of all of which there is a fair supply. |
During the winter there were thirtysix |
cases of scurvy among the miners, and |
three deaths occurred. The Indians on
the Yukon are peaceable and willing to
work.
Concerning the Osceola Mining Com
pany, an exchange says Professor May
nard, of New York, has secured the |
whole of the necessary capital for the
completion of the bitches for the
Osceola Company. and that work will
be soon commenced.
Dakota appears to be coming to the
front as tin producer. Chicago peo-
pie are becoming heavily interested.
In the eastern markets, the volume
OF legitimate business continues to i'm |