The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-04-23

A deal was consummated in this city
yesterday that had the effect of sending
Northern Light stock skyward, being
nothing less than the bonding of a
controlling interest in the mine to Gill
S. Peyton and his associates, the price
named in the contract being 60 cents
share, the life of the option being for a
period of six months.
Negotiations looking to this trans
action have been pending for some
time, but it was not until yesterday
that an agreement was reached and
the papers signed, Mr.. Peyton's first
proposition being to get an option on
the stock at 30 cents a share, the
heavy holders standing out for 10, but
finally concessions were made by both
sides, with results as above stated, and
it is confidently expected in mining
circles that the stock of the company
Will soon reach former figures. as the
condition Of the mine and mill, it is
believed, will justify these quotations.
II reports from Lion hill are correct.
While the management of the prop
erty has not yet been turned over to
Mr.. Peyton, there is no doubt but that
arrangements will soon be perfected TO
place the entire workings in his charge
and personal supervision.
Nearly every mining man in this
country is acquainted with the history
of the Northern Light, which in the
opinion of experienced miners is the
making of a heavy producer and diVi-
l. dend payer, and although the company
has met with obstacles and hindrances
in the past hard to foresee. but which
caused heavY slump in the stock of
the association, the fact still remains
that at the present time the mine is
in splendid condition, with immense
bodies of good milling ore in sight,
while the large and up-to-date mill is
now grinding away on ore at most
satisfacfa;y recovery as to values.
Mr.. PeytoE was ore of the original
incorporatOTs of the Northern Light,
and was well acquainted WITH the mer-
its of this magnificent group Of claims
at the time of its purchase from the
Clarks and helleyS. and il certainly
looks significant when he again be-
comes identified with the enterprise as
the largest holder after so much work
has been done in the development of
the mine and the erection of a mill
Where Mr.. Peyton leads there are
scores who will follow, as his successes
with the Mercur mine and the Chloride
Point are still fresh in the minds of
mining stock investors and specula-
tors; and as it is known that he has
strong eastern backing, and that he
never goes in but to win, the fact that
he has taken hold of the Northern
Light is viewed with pleasure by hum
dreds of stockholders and these who
are seeking for good investments, and
this feeling viii be enhanced when it
becomes known that the present officers
of the company. including gentlemen
who have been standing behind the
enterprise ever since its incorporation,
will still remain with the company, re
tanning good holdings of stock in the
same. This was one of the provisos of
the deal. and is all illustration of the
faith maintained by these gentlemen in
the ultimate outcome of the enter
prise.
In this connection it is well to state
that all stoc Eholders who desire TO
participate in the bond option at go
cents a share are requested to send
their stock to the se1o'etary of the COM
pany or to hand it to him personally,
receiving receipts for the same.