The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-01-31

and today the town is considerably ex-
cited and the hills in the vicinity are
now covered with prospectors. The ex-
cltement is the talk of the town as we
go to press, and thus far very little
direct information can be obtained
Lode, De Lamar, New.
At meeting of the board of directors
Of the Mercur Mining company, held
yesterday, it was decided to erect a
large mill at the mine in the spring.
1t is believed that the Mammoth
stockholders meeting will be postponed
until February 25 in order to give an
opportunity for the attendance of MI
Goodhart, who will represent the En-
glish stockholders.
Colonel Nick Treweek returned yes
terday from Denver and says that Col
orado to man has the mining fever
He believes that Utah has greater min
eral resources than Colorado. only our
people do not realize the fact and are
sleeping on their rights.
Judge w. A. Sherman, who returned
Wednesday night from a visit to sun
shine, reports a discovery of silver ore
on the Fairchild group that assays
/ per cent lead, 6 ounces in silver and
$1.20 in gold to the ton. The ledge is
! from twelve to fourteen inches Wlde
and lies east and over the gold VEIN,
while another deposit of silver IS known
to lie below this auriferous deposit.
The discovery was made accidentally
while digging a hole for a telephone
pole, and may prove to be of value.
! Judge Sherman has unlimited conh-
dence in the future of the Sunshine and
/ is much pleased with the outlook
Harry Dunshee is in from Marysvale.
and reports that at the Duquesne
heavy snow has broken in the cabin
roof and compelled them to evacuate
the camp. Before leaving they did a
little work on the Belle of Marysvale
and uncovered a 4-inch 5tringer of ore
on the foot wall. picked samples OF
which went S1,1O0 in gold and 2,4OO
ounces in silver to the ton The Belle
| of MarysvaIe is included in the Du-
| quesne group, and in the spring work
will be resumed in both places-the
tunnel and the open cut. Mr. Dun
shee SAYS that the Dalton is looking
WELL and that thirty tons of ore has
been sacked ready for shipment as
soon as the roads can be opened.
Secretary Hill, of the Mining Stock
exchange, has prepared a large black
board on which is inscribed the le-
ton of the mines of Utah" On this
board will be given the names of the
mines, the kind of mineral produced,
the capitalization, the par value of the
stock, the date of last dividends paid
and the amount per share. The total
dividends paid, the date of organiza-
ton, the number of claims, their loca-
ton, the date of assessments levied.
the amount per share and when pay
able. This information will be of great
value and a guide to those who deal
upon the floor of the exchange.
In mentioning the incorporation of
the West Sunshine Mining company in
yesterdays issue an error crept in the
official roster Of the new company,
which should have read: e. E. Crooks,
president; W. E. Smedley, vice presi-
dent; J. G.. Weeter, treasurer; J. J.
Stewart, secretary, and those, with c.
NJ. Wilson and l.. G. Wilkerson con-
stitute the board of directors. The
property owned by the company COM
! Drises the Nature Earth, All Day and
Mole lodes, situated about half a mile
west of the Sunshine mine, and it is
the intention of the company to thor
oughly develop this property Fifty
thousand shares of the treasury stock
of the company have been placed on
the market. and of this several blocks
have already been disposed of at 45
cents a share.
There is a probability that the &C
count trading system on the stock ex-
change will be extended to include a.
siXty-day option. Such a step is being
favored by good many members, as
calculated to increase the business of
the exchange and broaden the market
Among other things such an option
would frequently enable brokers to
turn stock to much better advantage
than under the present system of trad
ing, which makes thirty days the limit
The matter, it is expected, will be
brought to the attention of the gov
erning committee at the next meeting
of that body. If favorable action is
taken it will permit trading in two
accounts all of the time and in three
during the last five days of the month
The putting in of pit on the order of
those on the board Of trade is also be-
ing talked of.-Chicago Inter-Ocean.