The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-12-07

through Insolvency and including re-
organization under a new name and
with new stockholders. The plan was
approved, and the company was re-
organized under the name Of the Res
cue Gold Mining and Milling company,
with capital stock of $4,000 shares, the
par value of which has not vet been
fixed, though it win probably be $40
per share. Enough stock was sub
scribed and paid for on the spot
to put the company on its feet and
make it possible to pay its debts and
have money left with which to operate
the property Active operations will be
instituted as soon as the weather will
permit in the spring. The owners are
satisfied that they have valuable prop
erty and that by judicious management
it will pay handsome profits.
CAMP CROSSCUTS.
The Silver King company will pay off
its employees next Thursday, which is
the companys regular pay day.
The date is drawing near when as
sessment work on mining claims must
be completed, and it is we'll that per-
sons holding prospects under the law
should make a note of it. Assessment
work must be completed in full by De-
cember 81.
The directors of the Anchor Mining
company will hold an executive session
at Detroit, Mich, on Wednesday, De-
cember 9, at which officers will be
elected and the future policy of the
company decided upon. The result of
the meeting will be anxiously awaited
IN Park City, where it is hoped that the
mine will be again started up.
John Nimmo, who is interested in the
ndependence-Tesora mine, at Dia-
mond, Tintic district, came up from
that camp Monday. He says the water
in the shaft is still in such volume that
the pump cannot handle it and that the
property is practically closed down.
Silver City, he says, is quite lively and
that the Swansea, South Swansea, -Four
Aces and other properties are making
good records.
John Diem this week sold his inter
est in the mining ground owned by
himself and Rasband Bros at Ameri-
can Fork, to the latter, realizing a fair
figure for the same. The last ASSAYS
obtained from the ledge showed a value
of 80 1-3 per cent lead. four ounces in
silver and trace in gold. The pres
ent owners will institute vigorous de-
Velopment work as early as possible
next summer
The work at cleaning out the shaft #
tne west Ontario and catching .up the
Dig cave is progressing very rapidly.
SSiAN IldHCOCh, one Oh the leaSerS.
says he expects to get through the
wreck within the next few days, when
thorough examination of the prop
erty VIII be made to learn, if possible.
what caused the cave. AS soon as that
work is accomplished the leasers will
decide on policy of development and
Degin active operations
interest in the Vallejo is still strong
and steadily growing and some stock
changed hands this week at So per
snare The ore body still looks promis-
ing While the lower tunnel has cut the
plrds-eye porphyry that was next the
ore IN the upper tunnel, and strong
hopes are entertained that the vein will
be encountered within the next 100 feet.
Inc bridge has been completed and an
other shipment of ore will be made
just as soon as the condition of the
roads VIII permit hauling. A number
OF people visited the property again
TINS week and the general impression
as expressed is a bright prospecs for a
coming mine