The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-01-13
GOLD IN COLORADO
What the Great ROskaninni
Company is Doing.
OWNS THE WHOLE RIVER
TO SPEND OVER 100000 FOR
DREDGES.

Q. s Kinney. one Of the directors and
the local legal representative OF the
Baskaninna Gold Mining company,
yesterday gave on particulars regard
ing the great organization which has
undertaken TO wrest the values from
the golden sands Of the Colorado river,
with which the public, up to date, has
been in almost total ignorance.
The company is composed almost ex-
clusively of New York capital, Mr.. Kin
ney and Major K. B. Stanton, its pro-
moter and manager. being the only two
stockholders N Utah. The company is
capitalized for S5,00OO OO, represented in
$4,000 shares, of the par value Of 500
each. and since It's organization no less
than SzU0. 600 has been spent in acQulT-
ing ground and dredging machinery,
and If the great dFedge which letter
from Manager stanton. received yes
terday, advised was ready TO so into
commission. proves a success. no less
than twenty more of them viii be built
as soon as material and machinery can
be secured.
The dredge Just built cost 1925 900. and
at thet rate the company viii have eN-
pended 81 $40. 600 by the time its equip
ment IS complete, particularly as IL IS
the intention to run them all by cleo
tric power supplied from central sta
ton to be operated by the waters of the
river. The dredge which is now sup
posed to be at work contains 400 tons
OF machinery. including six gasoline en-
giues, with an aggregate of over 200
horse power. The buckets attached to
the endless belt weigh one ton each.
and are Capa BILE of handling from 1900
30 3, 600 cubic yards of gravel per day
Five men operate the machine. and
as long IS gasoline is used the estimat-
ed cost Of handling the gravel is 1Oc
to lie per yard. When electricity is
substituted the cost viii be reduced to
about &c per yard.
With the exception of here and there
a claim owned by Ben r. Hite and as
sOciates, and the Good Hope Placer
company. the HOSkdninni company COW
ers eXery yard of the Colorado river
from above Dandy Crossing, in Car
field county, down through that and the
counties of san Juan and Kane, in
Utah and COcOninO county in Arizona,
q fact which Mr.. Kinney says should
deter prosPectorS from spending their
time and substance IN Drawing the
hsrdships incident TO going down there
and back, 20 say nothing of the time
thrown away.
InnumerabIe tests. made bv boring
into the gravel bars, have shown that
they run from five to fOrty-five feet
TO bedrock. and the values run from Toe
has been made to approximate the aver
age values which may be expected
from the gravel, but if il is found to be
as much, even, as 80 cents yard, the
great machine now in commission Will
grind cut not less than 81 go per day,
and twenty such machines would pro-
duoe $4,000 per day, or $3.50 900 per
month.
The possibilities of the undertaking
are so vast that to contemplate its
success-and success Mr.. Kinney be
lieves is q practical ceTtainty-is to see
such a steady stream Of gold flowing
into the channels OF circulation as no
section on this continent ever Witnessed
before.
From now on adEices VIII be received
from Manager Stanton at stated inter
walls. and the success with when he is
meeting viii bcCOme k1r.vl. II gn
water has been bOtdccing at an UnrX-
pected time, and Il is pOSs- BILE, Mr.. Kin
Eey says, that not great deal VIII be
5ct emphasized Tor a v-E-Ie. The company
has all the men it needs and il would
lie foolish 90 mineI % - down there
J, King for work.