The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-09

II,
which they are Interested. The COM
pany is now sackings ore and will soon
begin ore shipments. Nearby and al
most adjoining the Gold Bug is To-
Gated the Gold Belt property, from
which ore has been taken that assays
ffty-two ounces silver and $61S in gold
to the ton. This property is mana ged
by Henry Dieter, who is highly pleased
over its promising appearance.
The heavy snow in the Salmon river
country is now getting in it's work,
as several mines near Leesburg. Ida,
are now completely drowned out by the
melting snow and the rain. The Gold
Dust mine at this place has 300 feet
of workings under water, the mine
being entirely submerged during one
night. 1t will be about five weeks be-
fore work can be resumed again in
this property. but meanwhile the
work in the building OF the Gold Dust
mill will go steadily on unless the
floods carry away the Salmon river
bridge.
Word was received yesterday in this
city that a new strike had been made
King mine, near Mountain Home, Ida.
This level has been driven a distance
Of 240 feet and has encountered a four
foot body Of ore that assays $50 in gold
TO the ton and 9.25 ounces silver. This
pleasing intelligence was very salts
factory to the officers of the company
in this city, and F. B. Cook, the secre-
tary. states that now work on the
new mine will be pushed more vigor-
ously than ever
The last car load of machinery for
the Morgan mine mill, in Hardscrab bible
canyon, was shipped from this city on
Saturday, and VIII go to the town of
Morgan via the Union Pacific, where it
will be hauled to the property on wag-
ons. It is expected that everything
will be in readiness for mill run on
the list day of July, if nothing happens
to prevent, and every man connected
with the property is on the qui vive
for the results. James Moffat. presl-
dent of the company; Thomas Fowler.
vice president, and the balance of the
corporation. are earnest in saying that
when the process is in operation there
will be something developed which will
surprise the natives.
IF the Golden Gate deal goes
through" said a prominent gentleman
yesterday, 'the new purchasers will at
once put in a mill with a capacity of
a thousand or fifteen hundred tons of
ore daily. This will give great i'm
petus to mining all over the district,
and eastern capitalists will flock into
Utah until our hotels will not be able
to accommodate them. The expense
of making an examination of the mine
is very heavy one, but if the mine
comes up to representations made.
there is no doubt in my mind but that
a sale will be made, which will include
several adjoining properties. 1t will be
a red-letter day for Utah if this sale
is made, and It is almost sure to CO."
A gentleman named McNally, who
has located in Cedar City, in an inter-
view with the Nephi Republic, says:
Il have just bought out the drug store
in Cedar City, owned by J. H. Nc
Donald, and the only reason he would
sell was the fact that he had great
bonanza siXty-two miles west of Ce-
dar on the state line between Utah
and Nevada. He told me that the dis
covery they had made, from present
indications, showed it to be a mine of
wealth to the, gentleman. The fact
that Mr.. Mcdonald has sold out his
business shows very plainly that he
must have something more than ordi-
nary value. Why, from one claim alone,
the assay showed $40 in gold and
twenty-six ounces silver J. H. Nc
Donald and Mr.. McBurney are the
owners of the properties. From an
other claim they took nine tons of
rock, which assayed $500 in gold to the
ton. Considerable excitement among
the people is noticed and many are
f1ocking 10 this part az
The Denver Post says that Henry F.
Selleck, one of the best known mining
promoters of the country, now at the
Brown, received word this morning of
the sale of mine that will in the
future surpasSa the TreadweH and
Homestake properties. The price is not
named. but the remote 1ocatf of the
property is likely to cut large Slice
off its real value. The mine was ex-
amined by Superintendent Frank Rob
bins of the Elkhorn mine at Leadville
for Chicago people who visited the
property and were satisfied that they
would come into possession of an i'm
this morning: The mine is located on
Cerros island in the Pacific, about 300
miles south of San Diego, and sixty
miles from the main shore. have Wis
tied the place and there is at least
S1,O0O,OOO in ore in sight. The island is
thirty miles long and ten miles wide
and absolutely uninhabit The only
human beings on the island are two
men who have been in charge of the
property for some time"
1t is becoming painfully apparent
bLetL <tillSllCtII capitalists are nOL as
well educated on the value of mines
as our cousins over the water. Scarce
ly a day passes but we note the pur-
chase Of one or more valuable proper
ties, especially those of note and re-
cord, the price paid being beyond
what they would bring in this country.
While foreign investors seem to be
very eXacting when examining a mine,
yet they rarely allow a good property
to slip their hands at round price,
and we must admit they are good
judges. We learn of sundry contem-
plated scoops of this kind at Cripple
Creek, and which, of itself, is a vindi-
cation of values not heretofore COM
pretended by the average American
croaker. Among later purchases, the
Anaconda Mining company, of Butte,
Mont, including the interests of Hag-
gin and Hearst, are said to have been
sold to an English syndicate for a con-
sheraton of $45. 100000 Also to an
other English syndicate the Centennial
Eureka mine, sixty miles below Salt
Lake city, has been sold for $4,000. OOO
Also mining properties in the Koo-
tenay district, British Columbia, known
as the Leori War Eagle and Iron
Mask mines, have been sold in London
for $5,0O0,0OO, 100000 and $1,000. 900
respectively.-New York Daily Finan-
cial News.
MINERS ASSAY OFFICE,