The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-23


stock, on account of the recent assess
ment of 10 cents a share, which was
held at the office of the company yes
terday afternoon. was well attended,
and the $3.50 shares that were delin-
quent were purchased by Messrs. z. l..
Streets. z. H. Airs and c. f. Hudson,
the price paid being q cents a share,
which was the top price bid on the floor
of the exchange in the morning for this
security.
This sale of delinquent stock has been
looked forward to by many who were
of the opinion that when it took place
they would have an opportunity of
picking the shares up cheap, and that
any amount Of it would be offered. 1t
caused considerable surprise, therefore,
when Il was learned that the assess
ment had been so closely paid in, and
that the insignificant amount of only
d little over 1000 shares Remained to
be disposed of to the highest bidder,
and of this only enough was sold to
Fay the assessment and costs.
As q matter of fact, the way that
this assessment, heavy as it was, has
been paid in, speaks volumes for the
stock, more than columns of newspaper
talk. and shows only too plainly how
highly the stockholders of the company
esteem the property. and the confidence
they have in its ultimate outcome.
1t was owing to unforeseen circum-
stances that the company was obliged
to levy the assessment, the payment of
which has just been completed. but
taking the history Of the property since
its incorporation, the men who express
ed faith in the mine at the start are
still loyal to their first statements, and
line up in time as one of the regular
dividend payers of the state, and most
% the original incorporators and heavy
stockholders are just as positive today
that the mine is all right as they were
TWO years ago, and they confidently
expect that in the course of the next
six months it will begin the distribution
of velvet
Bad management has been alleged
against the company, and it is doubt
less true that it has been remiss in
some instances, but the fact remains
that the first slump in the stock was
brought about through the instrument
tally of scalpers, and the circulation
of detrimental reports against the
property. some of which were unquali-
fiedly false, and then the collapse was
natural consequence, but there is
reason to believe that in time to come
the Northern Light Will make a, mint
of money for its shareholders.
In the history of mining it would be
a seven days ownder' if everything
came about precisely as planned 1t
would be a surprise in mining circles
If a ledge was cut exactly according to
calculations: il a mill was ready to
start according to contract time and
successfully at the first; and yet there
are those who
MAKE NO ALLOWANCES
for unlooked-for contingencies, for ac-
cidents. for breakdowns and for a hun
dred ether hindrances and delays which
are nearly always the accompaniment
Of mining enterprises which are being
put through on a large scale and it is
this class OF people who are largely re-
spOnsible for the continued decline in
Northern Light, after the scalper had
used his powerful lever in giving it its
downward impetus.
AS it is. there are mining men of
years of experience who will stake
their lives. almost, that the Northern
Light is one of the biggest mines in
the west, and the fact that it has pro-
duced its millions in the past should
give some weight To their statements
ard assertions.
At the present time everything is in
readiness at the mine and mill for what
is believed will be long and success
full run, as soon as the pipe line is
thawed out. and it is thought that il
Will be but a few days before this g
accomplished. The mill is in shape so
that ii caa handle over 100 tons of ore
daily. The bins are full of good milling
mineral. the mine shows an immense
amount of ore in sight, and the system
of reduction has been brought to such
a state of perfection that there is seem
ingly no doubt but that as soon as the
water is released and the plant is start
Ell UD. a cleanup Will be made within
So days that will be a surprise to even
the most sanSUine stockhOlder or Of
ficer % the company.
Until then. and until the company
has had a chance to show what it can
do under favorable circumstances, and
with the mine and mill in working or
der the public at large should with
hold judgment and give this enterprise
a fair showing. remembering that il
took several years before the Nercur
proved itself to be q success, and that
nearly every successful mining enter
prise in the west has had an exDer- J
ience similar 10 that which the North ,
ern Light has just come through only
possibly worse.