The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-10-21

4
expected some smelters will be built.
A New England Judge has lately
rendered a decision to the effect that a
speculator in grain futures takes a
legitimate risk, and that the system of
selling and re-selling goods before the
day of delivery is entirely legitimate.
He goes further and says that specula-
ton is the life of commerce, and that
1.-THE daring of men who have risked
their fortunes on the future has led to
almost every event in modern times
which has contributed to the advance
of civilization and increased the COM
forts of mankind" His decision, as
reported, has the effect of endorsing
the deals in which no goods are de-
livered or expected to be delivered, but
which amount simply to settlement at
certain intervals of a difference of
chances rather than a difference of
actual values, In this he is antago.
nized by Judge Gresham and others,
who have held that buying and selling
in that way is nothing else than bet
ting, and should be classed with wagers
on elections, horse races, cock fights,
|
held by some that the average grain
and stock Spectator is little better
than any other gambler.
Alexander Graham, we'll and favor
ably known in this city, is now super
intendent of the old Manhattan proper
ties at Austin, Nevada. The gentleman
is mining man of long experience in
Utah, Colorado and Dakota. At one
time. he was superintendent of the
Northern Spy, at Tintic.
All right, title and interest in the
Sampson Silver Mining Company, a
corporation existing in Uintah Mining
District, Summit County, is advertised
for sale by the United States Marshal.
1t consists of the Ballman, Sampson
No. 2 Uintah, Grand Prize, Sampson,
Chief OF the Park, Fraction, Jones,
and Short Line lodes. The sale takes
place in Coalville, on November 5th at
the suit of W. 8. Mccormick, the Salt
Lake banker, to whom the company is
indebted to the amount of $4,000. The
81 assessment, levied in July last, has
not come in with the alacrity that
could have been wished for. At pres
emit, but little has been paid up, the de-
Enquency amounting to somewhere
about $4,000. There is said to be
strong proba bility of reorganization,
as there are many who are sanguine as
to to the future of this property.
A few days ago, fears were expressed
that the ore-body recently uncovered
at the Woodside, was pinching out.
Later developments, however, show
this not to be the case. The vein now
averages four feet in width. Over
hundred tons of ore are on the dump,
and the rock assays all the way from
$75 to 500 per ton.
A company has been recently formed
in Colorado for the purpose of working
asphaltum beds in Emery and Uintah
Counties, Utah Its capital stock is
placed at 500 900, divided into shares
of $40 each. The company is known as
the Hale Asphaltum Mining Company,
and is composed of E. @. Hale, A. A. |
Miller, T. R. Thatcher, Joseph Crosby,
6. NJ. Johnson, Dan. P. Stetzelburger,
JOAA " OuhW, duu VIII
liam Foster. of Pueblo. The claims
cover thousand acres. Several kinds
of material are found. The most |
abundant is sand rock saturated with |
asphalt and petroleum, but the most |
valuable is the asphalt which bubbles
out of the springs in the vein of sand |
rock. The supply is said to be practi-
cally inexhaustible, and the deposits
will be worked for all they are worth.
The scene of the greatest activity, at
the present time in our mining indus
tries, is at the Eureka Hill mines, sit
uated in the northern portion of the
district, in Silurian limestone, writes a
Tintic correspondent of the Ogden
Union. The ore vein system here is
quite extensive and may be considered
as true issure some 500 to 100 feet in
width, or a series of parallel veins or
ore bodies separated by comparatively
barren vein stone The ores extracted
are OF the lead silver class, carrying
from Is TO 20 per cent. and upwards of
lead and 25 to so oun es of silver
per ton. Ores have been produced
assaying as high as $4,000 to the ton,