The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-16

Iions are involved in the deal by which
hr. DAILY retires. The sum for which
his and his associates holding We're
iold is calculated 10 make most men
gasp for the figure is $23, ,OOO.0 0OO
Daily Gets Se,ooo,oOO.
OF this amount Mr.. Daily pockets So.
Gee. 000. ]. B. Haggin gets $9.000.000 and
Lloyd TeVis of San Francisco IS. 600 600.
The properties are purchased 10y an
eastern syndicate headed by John ID.
Rockefeller and other Standard Oil
nagnates. In the transfer are in
cluded practically the entire town of
Anaconda with its mines and smelters,
vast coal and timber lands and all the
princely property Even for this vast
sum. however, the purchasers do not
become the sole owners. a London
syndicate that two years ago bought
the interest of the Hearst estate for
s. 900 still owns that fragment.
Mir. DAILY has agreed To remain as
manager of the entire property for
one year. His salary is reported to be
$4,000. At the end of that time, he
will 90 on a tour around the world
and. as he said to a friend, he hopes
10 be able to forget all about mines
and mining. He certainly won't
bother himself about business any
more
A Western Product.
Marcus Daily is distinctly a western
product Less than third of a cen
tury ago his capital consisted OF a
grub stake and a prospector's kit.
In ad6ilion to these. though, he had
a heart that was clear grit, never
failing nerve and an optimistic tenn
perament. Utah can reasonably lay
claim to Marcus DAILY. He came here
from White Pine, New. in 1871.
II that time he was foreman in the
then celebrated Emma mine. His first
Utah venture was in the Ophir district.
Later he Was employed by the Walker
brothers on Lion Hill in what is now
the Mercur district. This * the same
hill upon which the Northern Light
Is located and Mir. Daily, with the
Walkers. acquired several claims there.
In 1873 he prospected some mines in
the Blue Ledge district but without
success. In the fail OF the same year
Mr. DAILY went to Montana I'm the in
terest of the Walkers and himself. His
trip resulted in the purchase Of the
Alice which he worked until 1880. Then
Mr. DAILY laid the foundation OF his
immense fortune 10y selling his share Of
the Alice TO the Walkers for $4,000
Buys the Anaconda.
With the money thus secured he pur-
chased half interests in the Anaconda
end the St. Lawrence, which adjoined
1t on the east His partner at the out
set was Charles Larrabee. In 1882
LarTabee sold his entire interest and
DAILY sold half OF his half to George
Hearst and j. B- Haggin- Hearst was
dealing for himself. but Lloyd Tcvis
WAS jointly interested with Haggin.
The new firm did lot Of branching
out The properties We're consolidated
under the name Of the Anaconda Min
ing company. Numerous nearby claims
were purchased. together with coal and
timber lands. From a struggling viii
1age of two or three houses, Anaconda
suddenly developed into a bustling
city The mines paid enormous divi-
dends from the start in addition to
leaving enough money in the treasury
to pay for improvements.
Rockefellers In Control.
;, Two years ago, as already stated.
the Hearst share was sold to an Eng
lish syndicate foI S7.0000O0 BY the
last deal, Haggin. Tevis and Daily re-