The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-26

The Anchor officers are: President,
franclS smith, Muskegon, Mich: vice
president, z. F. Holmes, Osceola.
Mlch.; secretary. H. e. Myers, New
4ofk; assistant secretary, Walter Scott,
Fark city; treasurer, w. S. Mccormick
SAT Lake City; superintendent and
manager, David Keith, Park City; ex-
ecutlVe committee, E. F. Holmes, D. C.
mclaughlin, Richard Mcintosh.
DALY-WEsT.
In the early part of the year the
mine was closed down, owing to the
low price OF silver, which prevented the
property from being worked at a
profit to the company. With silver at
fair price the property promises to
become great dividend payer, for it
contains immense bodies of ore await
ing to be extracted. The stock is quite
generally regarded as safe investment
and worth every cent that is asked for
1t. There are rumorS, which have not
been verified, that the company will
resume operations early next year. The
concentration has recently been
equipped with Willy tables and Hunt
ington crushers, and everything is be-
ing placed in readiness to start up. Mr.
John j. DAILY states however, that this
does not indicate an immediate reSump-
ton They have only finished the
equipment of the mill, which was de-
layed by favorable proposition from
the parties who were erecting the Peck
concentration, but have not yet CONS
pleted it. The concentration is now in
shape to handle successfully the large
quantities of low grade ore. The DAILY
West is equipped with the very best
hosting engines and has good build
1ngs and abundant water supply.
CpLcC,17N7r1
The year 1887 has brought some i'm
portant changes to the Crescent Min
ing company. In 1886 this company
bought a block of ground that was
claimed by both the Wasatch Mining
company and the Jennings estate, taxi
ing deeds from both parties and giving
mortgage which was to be paid to
the party that was successful in the
litigation. Last February the supreme
court of the United States decided that
the mortgage belonged to the Wasatch
company, and they at once started their
foreclosure proceedings. The property
covered by this mortgage was sold I'M
der execution on Sept. 4, 1897. the Wa
Satch company bidding it in for $75,-
GOO. The Crescent company owed
about $4,000 aside from this mortgage
Indebtedness, and the stockholders in
Structed the directors to sell the little
residue Of property if they could re-
aliZe enough on it to pay this floating
indebtedness. Mr. Irving M. Herki-
mer, who was the largest individual
stakeholder in the Crescent, came for
ward with this money, and the balance
Of the property was decided to him, and
he took possession on the first of Sep
TENDER.
1t is rumored that an effort is be-
ing made to effect q reorganization of
some kind, and it is highly probable
that the coming spring will see the
property worked, either by the Wa
satch company in case the property is
not redeemed from the sale, or by Mr..
Herkimer in the event he comes for
ward with the 49, 500 necessary to re-
deem the property. Most of the Cres-
cent ground has been worked under
lease during the year, the principal
leasers being Owen Greenan, John Rue
quist, Erick Soderman, John Forsman,
Sam Newland, John Granquist, Frank
Gilmore, William Woodward and O. J.
Bunce. The output for the year has
aggregated 1,S15 tons. of which 1850
were crude and 235 We're concentrates.
CONSTELLATION.
The discouragingly low price of sill
yer has not prevented development
WOrh on lnlS property, DelnS pushed
steadily forward during the past year.
At present a drift is being run north
from the 250-foot level of the main shaft
for lead vein which was opened up a
few hundred yards further north, but
too near the surface to determine the
value of the ore it carries. Outcrop-
pings of this vein have given $50 in
silver and lead and $3.50 in sold. South
from the 300-foot level of the shaft a
drift 400 feet in length brought to view
a 24-foot ledge, upon which drift has
been run for 800 feet and small punches
of Gre yielding IA ounces in silver have
been encountered. The strike is north
east and southwest, while the dip is
northwest. 1t is intended to continue
the south drift to the Murchie shaft.
where a ledge was reached carrying 30
ounces in silver On the west side of
the Constellation ground is a ledge
which was opened up on the surface
last summer, and it is asserted carries
gold bearing quartz. The property cen-
sists of six claims and fraction, and
joins the Ontario on the northeast.
Development work viii be continued all