The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-05-02

One OF the largest deals of the day.
which affects the material interests of
the Sunshine country, in Camp Floyd
district, was contaminated yesterday
when the hundred thousand dollar bond
on the Malvern group was taken up and
a strong company incorporated for the
development of this valuable property
1t was stated in these columns a few
days age that in all likelihood this op-
ton would soon be taken care Of and
in pursuance with this statement the
interested parties met yesterday, and
besides the transfers of the title to the
ground. a company was at once formed
for its successful manipulation.
The papers were all signed late yes
terday afternoon, the articles of incor-
poration agreed upon, the bonds per-
fected. and today the Malvern Gold
Mining company will be a reality.
The capitalization of the company has
been placed at 600, 900 shares Of a par
value of $3.50 each, and unlike a major
ity of similar organizations, this COM
pany will set aside none of its capital
stock for working or treasury stock.
The official roster of the Malvern
Gold Mining company includes in its
personnel some of the most successful
mining operators in the west, and men
who have made successes of the Mer-
cur and Sunshine mines in Camp Floyd
district, and are therefore we'll fitted TO
carry on this new enterprise, which is
so similar in character to those with
which they are already identified.
The list reads as follows:
John Dern, president; w. A. Sher-
man, v1ce-president; George W. E.
Dorsey, treasurer; c. H. Jacobs. secre-
tary; and these, with E. H. Airs and
Frank H. officer constitute the board
of directors.
The Malvern group of ten claims ad-
Joins the Sunshine mine on the south,
and the work that has been done in
the latter has practically developed the
FORMER, and it is stated that the work
ings in the Sunshine bonanza has DEM
onstrated beyond doubt that the Sun
shine ore body extends through the
Malvern group.
At present work in the Malvern is
being done in a drift that is cross-cut-
ting the vein at considerable depth.
This work is to be continued until this
property, in its showing of large bodies
of high grade ore. will be on an
equal footing with the Sunshine mine.
TIE closing up of this deal brought
2, bushel of money and an unmeasurea-
bic amount of joy to the Butts family,
fourteen of whom were interested in
the Malvern group as original locators
ard from whom the first bond was OBJ
tanned.
This bond vas secured by c. H. ia
cobs ct AL who in turn gave an OPP
ton and bond on the ground TO Hon.
George W. z. Dorsey and associates.
Since the second bond was given IN
SeDtember last a new arrangement
was made whereby members of the
Sunshine company became interested
in the new company just formed, as
stated above which, from any point OF
view. is an organization that IS as
strong ard able as any to be found in
the west.
The effect Of the taking up Of this
bond and the organization of the NAL
vern company cannot but have bene-
fetal effect upon the Sunshine country,
and in consequence it is estimat-
ed that there will be great
deal Of activity there this summer A
GOOD deal of weight has been attached
to the successful termination Of the
Dorsey enterprise, and now that COM
many has been formed with heavy
mining men interested in its manage
rnent. that locality is sure to experience
q sood-sized boom, and many other
nroperties in the same neighborhood
will now show signs of increased ac-
tjvitv.
The latest reports from the Sunshine
mine are to the effect that it is now
showing up better than ever before |
with mammoth bodies Of high grade J
ore exposed in its lower workings; and, !
without doubt. the incorporators OF the !
Malvern must have been fully posted |
on the condition of this property, and !
had It been otherwise than promising, |
they never would have embarked such |
a large amount of capital in this new !
enterprise.