The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-01-01

dcllNlly- HrOSDectOrS, almost WlthOu
exception, have performed thei
annual labor, and possibly hundreds o
new claims have been located. Severa
strong companies have been formed AM
stocked, and men owning ground havt
experienced no difficulty in raisin.
money with which to do their assess
ment work.
This cart OF our mamnAoth minera
domain has not received the attention 1
! deserved until the last year or two
when the slump in silver caused miner:
and mi9ing men to bend their energies
! IN the direction of the better-favoreC
metals.
Near the eastern extremity of thi.
well-defined gold-copper section is 10
Gated the property of
THE VALEO COMPANY.
1t has been developed by sinking g
Wine on the ledge some 100 feet. which
| connects with a tunnel run into the nil
from below. AS more work has beer
done on this ground than on any other
along the line, it is natural to make
it a sort Of initial point in taking bear
ings for the whole. The Valeo had been
worked in a crude sort Of way by It's
original owners for several years, but il
was not until some two years ago that
the boys were able to induce any one
with money to help them out. AT that
! time sufficient money was raised TO pat
ent the ground and incorporate it. and
by selling treasury stock money was
raised with which to do development
work
Close to the surface nice showing of
ore developed. and frequent small ship
ments were made. The stock began to
advance rapidly, and from Is to % cents
share, it soon began to sell at S1.5O
to 81 share-a price, of course. which
the amount of development work did
not warrant. The record being made
by this property, however. caused
everybody interested in that section 10
go to work; it brought Spectators on
the ground. and opened the eyes of cap
ital to the possibilities of making mines
here that did not depend on the price
Of silver TO make them pay.
Last fall a deal was consummated.
and the control of the Valeo property
passed into the hands of our wealthiest
mine-ownerS and operators. at a nom1-
nal figure. Under the old management
the price gradually declined until 1t
went begging, almost. at 20 cents a
share, but from the l. lent it became
known that moneyed men had secured
control, the price began to advance
again, until it now ranges from $1.35
to 81. As on the Salt Lake exchange, with
only now and then a sale of a few
shares, the owners all being 10th 10
part with what they consider a good
thing.
The values of Valeo ore at the present
time. and at the depth of 600 feet. are not
publicly known, as no ore is marketed.
and the greatest secrecy is maintained
by the managers of the property. but
near the surface, when the old manage
ment was in control, the ore assaYed
from to 20 per cent copper and from 50
to So in gold. and the vein was from
eight to twelve feet wide.
The mine is now thoroughly equipped
with a good boarding and lodging house.
blacksmith SHOP and boiler house. The
work in the mine is prosecuted with
machine drills, and three shifts of men
and in the spring. Dame Rumor has it.
a mating plant is to be erected TO
handle the mines product.
This description of the Valeo and its
recent career is thus given to show what
can be accomplished when money takes
hold. On this gold-coDDer belt are To-
Gated dozens of other Valeos. and all
that is needed to prove them up is the
money.
SOME OF THE OTHERS.
East and south of the Valeo. several
splendid groups of claims are held by
some of the old ValeO owners, Bob Bone.
J. H. Demming, w. NJ. Curtis and many
other parties. Most Of the ground on
this side of the Valeo. like that on the
west, is being worked at the present
time, the owners not being content with
simply performing their annual assess
ment work.
Adjoining the Valeo company's end
lines on the west or southwest side, are
situated six claims which the Valeo
ledge crosses. and which will be incor-
porated during the next few days.
Still further west is located the Clar-
issa Mining company's property, on
which work is being steadily orosecut-
ed, with every indication of developing
a good mine.
IN the same vicinity is the Columbus
Mining comDany's ground and the Su-
perior, the latter having been leased and
bonded to Salt Lake and Park City
operators. The latter property is now
being steadily worked with three shifts
of men, while the former has closed for
the winter.
The following table shows, in pounds.
the amount of ores and concentrates
shipped during the year from the Mack
intOsh SAMPLER: