The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-14

The Herald is enabled to give its
readers the information that by virtue
OF the exertions of heavy capitalists,
mining property at Park City, incor-
porated for over $4,000, 900, has been
consolidated under one management,
and will be run in future, beginning
about the first of the year, as one vast
mining industry.
The properties are the Alliance, the
Crescent, the Boss, and possibly a few
smaller oaes.
A consummation of this transaction
means that the new company will con-
troll the strike on ore on a zone over
one mile in length, and extremely pro-
ductive.
The negotiations looking toward this
end have been in progress for some
time, according to all accounts. They
We're begun last summer, and constant
eXertioa has been exercised ever since
in order to attain the result. Extreme
secrecy has been observed, and this is
the first time any intimation of the
same has appeared in print.
From information acquired yesterday
it is said that w. S. Mccormick. A.
Hanauer, Colonel n. Treweek and a
Mr.. Erwin, of Muskegon, Mich, are
the principal characters in making the
deal.
Beyond the bare announcement that
the consolidation would be effected, and
that new articles of Incorporation
would be filed as soon as the matter of
transfers could be arranged, there is
but little to tell as to the absolute de-
tails of the concern. That the figures
used IN the new incorporation will re-
QUire at least eight figures to repre-
sent, is we'll known.
The companies thus consolidating are
the best known in the state. The Cres-
cent mine is a very important piece of
property. L. H. Whitney of Grand
Haven, Mich, is president of the COM
pany, and interested with him are j.
McGregor, r. n. Baskin, Joshua Mich
OILS, w. S. Mccormick and others of this
city. The company is incorporated for
| SIS, 000, 900 and is a very strong one.
The Alliance is incorporated for $780,
600. A. Hanauer of this city is presi-
| dent, and Richard Macintosh, Colonel
! Treweek. r. c. Chambers, George NJ.
Scott and others are interested.
The Boss is incorporated for S1.500,-
600. and z. P. Ferry and w. S. Nc
Cornick are heavy owners.
Some time ago there was a judgment
rendered against the Crescent for
something over $4,000. The Wasatch
company was the judgment creditor.
| The judgment was bought in by d. c.
| Mclaughlin, as trustee, and it was in
| timated at that time there would be
a reorganization ere the time for re-
! demDtion had expired. 1t viii be as
| sumed by the new concern and dis
charged.
The stock of the Crescent has been
an awkward stock to handle, on &C
count oS its magnitude. There were
| 100000 shares, Of a par value Of $25
each, and when a dividend was declar-
ed the returns were small to the hold
ers of small blocks.
In the reorganization there will be a
reissue of stock which will amply COM
! pensate those holding stock, by a graf
! flying change.
Mr.. Erwin of Muskegon has been in
the city for some time arranging the
details of the transaction, in connection
with others. While the smaller details
are not yet perfected, it is believed they
viii be completed in a few days, and
then the papers will be fled.
It is stated that it is the intention
Of the new company to enhance the
value of all the properties by an in
! crease in the workings, and that the
consolidation means the regeneration
and starting UP of the three mines
which cover a large eXpanse of terri
tory which abounds with large values
and resources.
1t is hoped by all who know of the
possibilities of the camp that the new
I corporation will meet with every sue
cess in the undertaking.