The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-08-10

On a basis of 100000 for the mine or
90 cents share the Alliance
property VIII become part and
parcel of Colonel J. H. Con-
RAIDS Massachusetts, holdings in
I Park City. The control of the stock
has already been negotiated for, and
yesterday Mr. y. Hanauer. from whom
il was secured. issued circular 10 the
balance of the stockholders, inviting
them to include their stock at the same
price, If they so desired.
Mr. Hanauer said the bargain had
been made with Colonel Wall, who, he
presumed, was acting for Mr.. Conrad.
Just how many shares were involved
Mr.. HansUer could not say, but with
che stock secured from Mr.. TreWeek,
his own and that belonging TO eastern
parties, which he would be ready to
deliver IN three Or four days, or as soon
as il arrived here the control would be
accounted for.
Whether the holders of outstanding
stock would be willing TO sell at the
price he was getting, Mr.. Hanauer said
of course he did not know, but the let
ter he had sent out was for the purpose
Of giving them a chance to sell at go
cents a share if they wanted 10 do -.
What effect the recent strike in the
OF the small stockholders remains to be
seen, but as it is barely possible that
the Alliance ground may never be in
corporated with that of the Massachu-
sets, il is more than likely that all, or
nearly all Of them will decide TO get in
out of the wet.
On the other hand. the probabilities
are that the Massachusetts and Al
lance ground. together will form the
basis for a big corporation, and the
chances are THAI Colonel Conrad is in
Butte for the special purpose of form
ing his company right now
The acquisition of the Alliance
ground will also likely result in the
abandonment of the idea of sinking a
new shaft on the western portion of
Massachusetts ground. as the company
Will now be in position to explore
that territory advantageously from the
big Alliance tunnel
The closing of this deal opens up in
Vulnerable opportunities for profitable
enterprises on the part of Mr.. Conrad
and whoever may associate themselves
with him.
At the present time Park City derives
its water supply from the Alliance tun-
mel. and the water company pays
Soodly sum annually for the use of it.
That is one source of revenue.
It is also known that the people own
the Crescent company's holdings have
been anxious to possess the Alliance,
in order that the tunnel could be eX-
tended inzo their territory for purposes
of drainage and the economical eXtrac-
tion of ores. The new owners may now
make. some arrangement whereby the
tunnel can be turned into an outlet for
the Crescent people and derive a good
revenue from that source. Ar
engagements might alsu be made to
make connections with the Silver King.
and give that property splendid venti-
lat;on.
These features. taken in connection
with other schemes THAI might be men
TONED, ought TO be the means OF caus-
ing lots of activity in that section from
now on, and of putting the new owners
in q position TO realize on their invest
ment right from the beginning, and, in
case an agreement is made with the
McGregor Irwin syndicate, which con-
trolls an immense amount of property
on the Crescent side that could now be
worked at magnificent profit if drain
ed Of water. another big combination.
with the gentlemen named at the head
of it. should soon be actively at work
On the Crescent side of the mammoth
Park City district.
The contamination Of this deal may
be taken as another evidence of the
great prosperity in store for the people
who nave so long been handicapped by
the slump in silver.