The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-13

One of the most important mining
deals of the season was consummated
in this city yesterday in the organiza-
ton of the Raymond Mining company,
Tintic district, as usual of late, play
ing an important part in the incorpora-
ton and furnishing the ground on
which the association was based, the
property in question being three
claims lying just north of and ad-
Joining the Bullion-Beck and the
Gemini keystone mines, the former
Of which has enriched the world TO
the extent of nearly $S,OOO,OOO While
the latter has produced in the neigh
borhood of Sc 900, 900 in imperishs'le
wealth, the consolidated CLAIMS en-
braced in the Raymond group being
the Rising Sun, the Setting Sun and
the J. r. lodes, through which it is
believed, without question, the extern
sion of the Bullion-Beck and the
Gernini keystone veins can be traced,
and on account Of this proximity OF
such magnificent wealth producers and
the formation Of the ground enVironed
by the holdings of the Raymond COM
Pany, the officers of the association
are confident that in this property
they have the making Of another I'm
TIC bonanza; and in this opinion they
are Joined by old timers of Eureka
VINO are acquainted with the property
and with the workings of the wealth
producers on the north side Of Eureka
gulch, John McChrystal, deceased, be-
ing locator of one of the claims in
the group as well as superintendent Of
the Genini keystone mine, the claim
reverting TO his wife at his DEATH the
lady being one of the heavy holders
in the new incorporation, While Pat
Donley and J. c. Sullivan, experienced
Of
are also interested in the enterprise,
being firm believers in the future of
the property when it shall have been
Systematically and intelligently de-
yelo0ed.
The consolidation of these three
claims and of the conflicting interests
was brought about after three months
OF hard work on the part of Major
George w. Z. Dorsey and j. c. Sulli-
van, the capitalization of the new
company being placed at 25O,0 600 shares
of a par value of 80 cents each, while
the Official roster of the association is
as follows:
George w. q. Dorsey, president; J.
G. Sullivan, vice president; w. R.
Wallace, secretary, and Josiah Barnett
treasurer, and these, with Pat Donley,
comprise the directory.
The property. SO far, has been de-
veloped by means Of a 60-foot SHAFT,
from the bottom of which ore has been
taken assaying 20 ounces silver and
$3.50 in gold to the ton, and it is the
intention Of Manager Sullivan, as
ISOLATED with Pat Donley, the fore
man of the Grand Central, to begin
work at once with two shifts in en-
iarging and timbering the shaft
which, when finished, will be sunk tC
the deep, the officers of the company
having already made arrangements
for the installation Of a steam hoist
on the ground which will be put into
commission as soon as the work il
hand requires the addition of increased
facilities.
The company is a strong one and the
properly upon which it has incorpor-
ated is worthy of it, according to sur
face indications and surroundings, an6
if all. predictions c3Soe to pass regard
ing it Tintic district can ere long
boast Of the possession of another
heavy producer and dividend payer.