The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-12-13

There has been steady and per-
sistent hunt for suitable and catchy
names for mining companies, but it is
more than likely that the name OF
Rabbit Foot" will take the prize for
originality, as well as for its signifi
canoe, for the Rabbit Foot it a mascot
with many people and should bring
good luck to mining companies as well
as to individuals.
y short time ago W. H. Donnell and
Clarence Mccormick, of this city, and
J. II. McGhan of Eureka, Tintic, ac
quired title to the Rabbit Foot group
of claims which are located about half
way between the Swanseas and the
Sunbeam Consolidated, near Silver
City, and adjoining the old Wheeler
mine; which, in former days, produced
q large amount of rich ore above the
pyriIeS and which today is considered
as one of the most valuable properties
in the Sunbeam country.
On the Rabbit Foot group there is a
strong four-foot ledge that runs the
entire length of two claims-3,0CO feet
and this ledge has been prospected
its entire length on this property with
very encouraging results.
This group was worked in the early
days but ii was considered that the
ore was too low in grade 10 permit of
shipping, for there was no railroad in
Tintic district at that time. Now,
however ii is different, and it is be-
lieved that the ore exposed in the old
workings of the property will pay to
work and ship, and especially SO as
there is no doubt but that with depth
and as soon as the shaft is sunk below
the pyrites rich bodies of mineral will
be encountered.
The 117-toot shaft on one of the
claims embraced in the Rabbit Foot
group is in ore the full width of the
bottom of the shaft and this ore car
ries average values of from S25 TO $35
in silver and lead, and the mineral is
almost identical in, its characteristics
to that found in the Swanseas and the
Sunbeam.
For the past month the new owners
of this property have been hard at
work in its development and are sink
ing the shaft TO the deep as rapidly as
possible, and they now have two car
loads of ore ready for shipment that
viii net them from $40 to S25 ton, and
it is the belief of d number OF mining
men who are familiar with the ground
that within q month from the present
time, if work is pushed in the develop
ment of the mine, il will be able to |
send out a carload of ore a week, and !
that as work advances and the ore be- |
comes richer, the Rabbit Foot will |
come to the front as paying PROPOSE |
ton.
On Tuesday of this week ii is the in |
tention of the owners of the Rabbit |
Foot to incorporate on this Silver City |
property, and as soon as this is done !
it is stated that the company will not |
stop for a moment until the property |
finds a place on the dividend paying |
list.
The incorporators of the company,
together with its officers and directors !
are as follows:
w. II. Donnell. president and man
aser: J. H McGhan. e-president;
W. H. Myers, secretary and treasurer;
Mccormick and Mrs. c. Z.
Stanton.
The capitalization of the company
Will be placed at 100000 shares of a
par value Of 81 each, 100000 shares of
which will be set aside as treasury
or working capital stock.
One thing in favor OF the new in
corporation is that it viii start out in
life in an excellent financial condition
and free from all membranes. be-
sides which il will be able to boast Of
the possession of one of the most
promising and valuable practically I'M
developed grounds TO be found in the
oliver lily emu " IiuliC QAStitCt
Another thing in favor of the COM
pany is the fact that its officers are
largely composed of young men VINO
have a high standing in financial and
business circles in this city, and it is
safe to say that with their well known
vigor and push they VIII know no
until the property of the COM
pany is developed in a thorough and
scientific manner; and in doing this
work it is fortunate that II viii be
Under the direction Of Mr.. McGhan,
who IS an experienced and successful
mining man.
Work will begin this week in the
erection of a shaft house at the mine,
and a within is TO be installed. when
he shaft will be sunk to a depth OF
100 feet below the present workings
Is fast as three shifts can sink it,
The location of the Rabbit Foot
group of claims is all that could be
desired as il is in the midst of one
If the richest mineralized portions of
he district, and with everything else
n its favor there is no good reason
Why the enterprise should not be
successful one.