The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-04-27
Dividend Paying and Invest
nlent Mining Stocks.
W. E. HUBBARD & CO.,
TEL. sos. 10 w. I'd So. ST.
THE OLD FRED DEAL.

Chicago People Secure Control Of This
Sunshine Property.
! Hon. Ben T. Lloyd, the well-known
mining operator, who returned from a
/ business trip TO Chicago "a few days
| ago, succeeded yesterday in closing up
! a deal whereby he secured a controlling
: interest for his Chicago clients. reserv-
/ ing an interest for himself, in the cap
! ital stock of the Old Fred Gold Mining
& Milling company, whose property,
consisting of a group of five claims, is
/ located at Sunshine, in Camp Floyd
district, adjoining the Sunshine mine
on the north and the Overland on the
west, and it is more than likely that a
series of systematic work in the de-
velopment of the property will be con-
/ Quoted by the company in the very
near future.
The contamination of this deal will
necessarily necesSitate a change in the
directory of the company, in conse-
quence of which Frank G.. Hoffmire,
vice president, and G. G. Beauregard
will resign from the board, it being
more than likely that Richard Barrett
of Illinois will succeed Mr.. Hoffmire,
while Mr.. Lloyd will drop into the po-
sition vacated by Mr.. Beauregard; DR..
George V. Parmelee, the president of
the company; W. G. A1amsosl, treas
urer, and S. H. Lewis retaining their
places in the directory and on the Of
fetal roster.
Before making the purchase above
alluded to, the Chicago capitalists
whom Mr.. Lloyd interested in this en-
terprise sent an expert TO examine the
property, his conclusions being that
there are three distinct veins in that
end of the district, the Overland hold
ing within its environments the first
- 81
Mercur mine; the second and third
veins appearing in the Old Fred, both
Of which have been quite extensively
developed by means of tunnels and in
cline shafts, the two zones being over
laid by porphyry and capped by lime,
the footwall also being lime.
The first vein in the Old Fred, which,
according to the expert mentioned
above would be the second vein in the
Sunshine end Of the district, was first
exposed by tunnel, the zone being so
feet in width and carrying gold values
as high as Sc to the ton. This vein has
been exposed and run on northerly and
southerly for a distance of between 200
and 300 feet, and it is believed that
with greater depth its metallic values
will increase.
The second vein, in the Old Fred-or
what in reality is the third vein of that
locality-lies behind and underneath
the first vein a distance of about $50
feet, and is overIaid by fine sheet of
porphyry. This chute of mineral has
been developed by an incline shaft
that has reached a depth of 100 feet,
and at this point the ore-bearing zone
is 80 feet in width. the rock carrying
values ranging from a few cents up to
SIS in the yellow metal
This deal is an important one. mas
much as it will bring capital into that
end Of Camp Floyd district, and much
is locked for as result of the enter
prise, as the Old Fred is held in high
esteem by many mining men, it being
with them a question of development
only before this property will find a
place on the list as paying PROPOSE.
ton.
Martha Washington Hoist.