The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-07-07

with capital stock of q quarter of
million dollars, 100000 of which is
fully paid up, the remainder of the
stock being held in the treasury, the
Grand Central Mining and Milling
company has been incorporated at
Provo, the articles having just been
filed. The Herald has already given
the aims and purposes of the organ
ization and from time TO time also the
progress being made with the nego-
tiations which have led TO the forma-
ton Of one of the strongest companies
operating in the Tintic district While
the capital of the Grand Central is
not as heavy as that of some other
companies, the financial backing of
the corporation is of the very best and
the interested parties are always in
the lead where enterprise is demanded.
1T Is the intention of the company to
send down its tbree-compartment shaft
on the Grand Central at an even more
rapid rate than at present, and the
testimony of experts who have exam
ined the ground is that the ore zone
OF either the Centennial-Eureka or the
mammoth viii be cut within a few
hundred feet. This idea is shared by
the organizers of the company. and
some extensive DEVELOPMENT work is
10 be done on the property, which in
cludeS that stretch of claims lying be-
tween Jne Centennial and Mammoth
1t IS entirely unprOSpected but for
the shaft row going down. The board
OF directors of the company has de-
c1ded to equip the Grand Central with
"a steam hoist, and the sinking of the
shaft, whose foot is now some sixty
feet below the surface, is to be pl see
cuted more vigorously than in the
past It is anticipated that a COM
presSor plant will also be put in at
once In the neighborhood of $4,000
has been set aside for immediate use
IN the sinking of the shaft. This is
one of the most important enterprises
recently launched. and the gentlemen
who are behind it are determined in
their efforts to thoroughly prospect
the stretch of country just secured by
the company.
Down at Provo the articles incorpor-
ating the company were filed, and
this papers correspondent sends in the
following:
Provo. July 6.-Yesterday incorpora-
flon papers of the Grand Central Min
ing and Milling company were filed
with Z. L. Jones, county clerk of Utah
county. The company is composed of
the following named gentlemen:
IL. HOlbroOk, president; Reed Smoot
,sEice- president; c. E. Loose, David
i Evans. Abraham IT. Cannon, other
DIRECTORS; John r. Twelves, secretary
And treasurer The capital stock is
pSaced at $3.50, 900, shares of the par
Value of 81. subscribed and paid up as
follows: C. Z. Loose, Provo, 80 900
shares; David Evans. Ogden, 10000;
Reed Srloot. Provo, 1900; B. 9. Clark,
Eureka, zoos; Abrane Il H. Cannon,
Salt Lake. $4,000: L. Holbrook, Provo,
$1,000; s. A. King. Provo, 1000; A
Burch. Salt Lake. 5000; John R
Twelvrs, Provo, 10000; treasury stock,
$50, 600
The corporation shall exist for a
period Of fifty years and the location
of the general offices Of the company
shall be at Provo. The object OF the
corpora ton is to carry on the business
of mining for gold and silver and other
minerals, reducing by milling and
smelling or other processes, all such
ores, metals and minerals and dispos-
ipg of the product thereof; also to
buy and deal in all such ores and min
erals as we'll as to mine and extract
the same. All mining claims owned
by the company are situated in Tintic
mining district. between the Centen-
nial-Eureka and the Mammoth, and
consist of the Christopher Columbus. |
Snow 3 I'd, Grand Central. Consort, (
King William and Wedge |
wood.