The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-07-04

company, and Hon. Jefferson Chandler
is counsel Messrs. Delmas & Short
ridge will act as counsel for the new
company.
the sale of the property was con-
summated by Harry L. Titus of this
city, attorney of the Golden Cross Min
ing & Milling company, who returned
yesterday from San Francisco after a
weeks work in closing the deal. The
deed transferring the property was filed
for record at the court house yester-
day.
The mines purchased are considered
the most valuable in the state. The
region in which they are situated is
distinguished by vast deposits of rich
ore. of which the 80 mines sold are the
cream
This property has had a varied ex-
perience owing 10 the lack of facilities
for developing and handling it. The
new company contemplates the invest
ment of large sums of money to save
cape by a lack of knowledge of the
proper treatment of the ore.
There are some liabilities against the
property in the hands of certain mer-
chants of California, which Will be
taken care of by the new company. Tt
is believed that no serious obstruction
will be made TO the speedy redemption
hold claims. The development of the
mines will require very large supplies,
and make the new company an enor-
nous customer of the respective inter-
ests now having claims, and il is be-
lieved that what these people want is
their money and future business, and
that no difficulty is anticipated from
them. 1t is learned. however. that il
any contest should be made. the new
company is abundantly able to take
possession of the property and develop
it as above suggested.
The Golden Cross mines were discov-
cred about ten years ago. and the dis
coverer. noting the peculiar lay of the
deposits, in the shape of a gigantic
cross. applied the appropriate name.
Hedges Bros. of Los Angeles bought
the property, and developed it, putting
on a 40-stamp mill first, and afterward
adding 100 more stamps. making one
of the largest mills in the world. A
costly pumping plant was put in at the
Colorado river to supply the mines and
mill.
1t was these heavy expenditures that
embarrassed the company. owing to the
combined demands of creditors and for
a year up to June l of this year the
company was in the hands of a re-
ceiver, W. W. Stewart. AR. Stewart
managed the property with great skill,
paying off a large amount of the in
debtedness. and turning over the prop
erty to the company in very good con-
dition. The output of gold during his
management was from $4,000 to $4,000
per month.
The last cleanup, made last week,
yielded $1,000 for II days run with
40 stamps. The mines are IN bonanza;
and everything points to a much larger
yield per stamp. while the expensive
cyanide plant to be put in by the new
company will add immensely to the
revenues by working over the tailings.
which have been declared by experts
to contain hundreds of thousands of
dollars, easily reached by the proper
trea tment.
The successful operation of these
great mining properties in San Diego
county will be the beginning of the
growth of the largest mineral interests
of any county in California. This re-
gion was practically unknown 4 few
years ago. The more il is studied and
tested. the more certain ii is that the
mineral wealth of San Diego county is
practically inexhaustible. and the time
is not distant when this country will
be the largest gold producing county
in the United States.
San Diego people are much gratified
at the turn this great interest has ia
ken, realizing that the gentlemen who
have taken hold of it possess the
financial strength and knowledge of
mining requisite to dispel all doubt of
success.