The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-26

properties Will be divided between the
Fortuna Mining company of Cheyenne
/ wy, and Colorado Springs capitalists
The life Of the bond is two wears.
while the consideration made is SIS. 900
the terms of the option calling for a
certain amount of Work-2O shifts
monthly on each group-and the work
is to begin on or before the 10th dav
OF next February, the same 70 be con-
tinued until the expiration of the bond
or until it is forfeited
These three groups are favorably To-
Gated on the western slope south of
the Omaha and the La Cigales, and
Mr.. Emery is satisfied that with work
they will fall into line with the other
promising mines in that locality.
The claims are well located and the
required amount of work for the past
year has been performed upon them
Mr.. Emery, who is an old Cripple
Creek miner. and who has been iden-
titled with this famous Colorado gold
camp almost from the time of its first
discovery, is well pleased with the
showing in Camp Floyd district and
states that he is satisfied that with
time and development the camp will
come to the front as one of the great
est gold producers in the west. and he
expresses the opinion that within a
snort time the west dip Will be fairly
covered with mills, as all the indica-
lions go to show that that region is
prolific in its ore deposits.
This is not Mr.. Emery's first visit
TO Utah, as he was here a year ago,
at which time he became interested in
the ground now owned by the Chicago
and Mercur Mining and Milling COM
pany, OF which he is the president.
The property owned by the company
is located o. what is called East
mountain, west of Utah lake. The
showing on this ground is very en-
couraging, and Mr.. Brady states that
the work that has been done so far in
the development of the property has
disclosed milling ore in sufficient
quantities to justify the erection of a
mill for its treatment, and he further
says that it is the intention Of the
company TO erect d plant this season.
The stockholders of the company are
very largely residents of Chicago, and
the management proposes to make a
great showing this year.
Mr.. Emery went into Cripple Creek
from Colorado Springs with W. S.
Stratton. Stratton located two claims
on bald mountain while Mr.. Emery
made IA locations on the opposite side
of the gulch where there were strong
groupings. The StrattOn claims were
the Independence and the Washington.
The Washington he bonded to a Cali
lOiuId SynulcdIe IOr S1CU.UOU, receiving
$4,000 forfeit money. Two thousand
of this he invested in the stock of the
California company and with the
balance, after paying off his debts he
began the development of the indie
pendence. which paid from the grass
roots. and which now has a record of
$29, 600 in dividends and profits to
its credit. Later on the California peo-
pie failed to take up the bond on the
which reverted back to
Stratton.
Mr. Emery incorporated the Eenter-
prise and. the Standard Mining COM
panies on his locations, and later on
parted with his stock in these proper
ties, which have since been paying
dividends, and now he is bemoaning
the fact that he let go too soon and by /
so doing lost a fortune.
He will profit by his experience. |
however, and it is his intention to
stay with his Mercur holdings with the /
expectation that he will make a barrel J
Of money out of them.