The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-04-06
NEWH0USE BUYS
A MERC0R MINE
Acquired Heavy Control in Golden
GATE Extension.
DIVIDENDS DUE FOR AF&IL
DALY-WEsT ORDERS PAYMENT
OF S72, 600.

FRIDAY night Samuel Newhouse
i dropped quietly into town, and
as result Of his coming. another
Important deal was rounded out and
clmched last evening. This time tlie
intrepid operator selected as mis- field
the great gold camp or Mercur and
tae Golden Gate Extension company'5
property as q spot most likely TO yield
results.
Nhen seen last evening he stated
that ne had been interested in the
company for q long time and a few
years ago he held an option on j. r.
Walkers controlling interest, and dur
ing the life OF his bond he sank a shaft
on the property 500 feet deep. Not hav-
ing reached the ore and considering the
price pretty stin. ha allowed the OPP
lion to lapse.
Recently be took the matter up again
and obtained a more reasonable pIOQO-
sition from the heirs. Yesterday the
deal was closed and Che 10000 shares
of stock passed 10 Mr.. NewhOuse. The
old board of directors resigned and II.
!. Coleman. G. II. Griffin a. j. Bet
ties. NJ. n. Johnson and w. +. Block
were named to succeed them.
The property embraces quite a large
acreage adjoining the original De
Lamar property on the south and lying
east ~ the IngOt Including his pre-
vfoUs holdings Alr. NeWhouse now
holds $4,000 cf the 100000 shares. and
having every faith in the worth of the
ground. he intends to put the shaft
down another 500 feet or more if neces-
sary So find the ore. Work viii begin
in tie near future.
OF the Boston Consolidated property
at Bingham which Mr.. NewhOuse Wis
lted during - day. he said there was
nothing particularly new To say. De-
veloPments were steadily progressing
and everything was satisfactory.
Regarding the Cactus, Mr.. NeWhouse
reports the sh8et nearly down to the
s00-foot level ana while there has been
q temporary suspension OF sinking, de-
veIOBmelts ia th1 mine reveal the pres
ence OF twice as ni-ch ore as was re-
ported {. few months ago. The expert
mental min has been completed and
the plant win so into conn. issi0n to-
morrow, Tt has been equipped with
iigs Wiley tables and a new sizing
device mat VIII be given its frst real
trial ~ this mill The tests are be-
Ing conducted by Professor >. NJ cal
loW for the purpose of determining the
character Of the 1000-tOn plant that IL
Tie EisNNAtEtf-L I'D NlNNA AGAEA
Speaking 0f the shaking mp that Aas
occurred ovel the decision 10 quit driv-
ing tne great Newhouse tunnel at
Idaho Springs, Colo, Mr. NeWhouse
said the success Of the tunnel as a
business proposition has already been
determined The great bore has peue-
tratcd the minerai-bear zone of the
camp f0r distance of nearly 1900
FEET aud many veins. some Of them
carrying high values IN gold. are now
being rro6tabiy mined through that
avenue.
Il have decided said AIR NeWhOuse
Chat belize the tunnel is extended
further. the property owners ahead
must mike te-ms. I am not willing "a
Drain and prospect their mines al
depth FOR nothing
His business Eere concluded, Mr.
Newhouse leaves s9r Denver and the
east today noon, ana on the Tin hS
wiz sal with Mrs. Newhouse for Ger
many. thus taking the vacation M
promised himself last month