The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-12-25
MINES AND MINING.

Whenever Park City is mentioned, one
dnvoluntarily thinks Of the great Ontario
mine, which has yielded up its millions of
treasure and, so far as one can Judge, is no
nearer exhausted than it was the day when
1t was first discovered. In an article on
Park CITY it is but fair that this magnif-
cant property should be the first to receive
attention, even though there is little new
20 be said about it. In brief, since our
Last report it has gone along the
even tenor of It's way, pour
ing out its wealth, giving en-
oloyment, directly and indirectly, to
thousands, and distributing each month
among it's stockholders the princely sum of
S75, 900, or 5000, 900 year. Columns might
be written, yet would the most eloquent
Language be more eloquent than the state
cnent given abovel We think not. When
the last of the present month has arrived,
The Ontario will have paid out in dividends
the magnificent sum of S10,625, $50. Work
on the three mile drain tunnel, one of the
most ambitious moves eyer made by the
owners of any mine, has gone along at a
satisfactory pace, and improvements at its
snouth-Camp Florence-have been made.
a new station has been cut in the No. 2 at
she 13OO-foot level. The product of
che mine in bullion for the year
eyill reach 973,33O ounces fine, as
compared with 1,O72,0OO for 1888 This
falling off in the bullion, however, is more
chan counterbalanced by the ore sales.
4tOf course said Mr.. Almy, in a recent
conversation, 'any guess we might make
at the result of the years work would be
subject to correction, as we are hardly
ever able to get out our annual statement
F,efore March of each year. However, it
is clear that we have paid our dividends
and our xpenses-including in these, of
course. those attached to the driving of the
drain tunnel. 1 do not know whether we
will be able to add anything to the reserve
fund or not. That is something we were
not working for" The figures given above
r,eed no further comment. During the
year the stock has been quite favorite
IN the New York market, and has advanced
from S31 to as high as $3.50, with S35 as
the ruling figure.
The DAILY, twin-sister to the Ontario, has
maid cut her usual 800 per month in
dividends, or total of $3.50, 900 for the year,
and the chances are decidedly favorable
chat the reserve fund will be added to con-
siderably. At the end of the year the DAILY
Svill have paid 81 BE, 800 in dividends. DAILY
stock has also jumped during the year;
being quoted at the opening of 1889 at from
ala to S17, it is now held stiff at $40, and no
one seems anxious to sell at that figure.
The Alliance was incorporated under the
laws of the territory February 2, of this
year. The capital stock is 500, 900, of the par
value of 81 per share. The Alliance company
owns the Sampson, Sampson No. United,
Chief of the Park, Ballman, Grand Prize,
ZONES, Fraction and Short Line. A drain
4unnel is now being constructed, which will
RIM about A. 500 feet, and will tap the ledge
at a depth of !, 200 feet The tunnel is now
in about Zoo feet. Work on the tunnel
was commenced in the latter part of June,
1889. and it will be completed in June, 1890.
rThe old works have been retimbered and
considerable prospecting done. The ship
qnents for the year, as furnished by Secre-
Sary Stevenson, amount to S9,25O11.
The Crescent's annual report was re-
Gently published in these columns. More
need not be said at the present time.
The Woodside, which at the close OF last
year, under the operations of T. W. VII
mans and John Drake, was just commenc-
ing the prove itself rich property has,
during 1889, exceeded the brightest antici-
pations of its leasers and in the last month
has a second time proven itself a veritaole