The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-12-27

III "a review OF the events LndL ar
rapidly bringing Utah to the front as
a producer Of the precious metals, the
work performed by the members Of
the Western Exploration company finds
natural place. Although they incor-
pOrated in August of 1901 the story Of
the growth of the combination, with
extensive interests reaching both east
and west. dates back further.
The present officers Of the company
are: Willard +. Snyder. president, born
at Park City in this state, a pioneer
in the Gold Mountain district; Walter
-. Eiler, vice president, formerly OF
Sharon Pa, but now of this city, and
at present general manager Of the
Twin Falls Land q Water company.
G.. O. EllingwOOd, secretary and treas
urer, well known TO the business men
OF this city, and at present In Aah-
fornia looking after the interests Of the
company I'm that field. The other two
directors on the board are p. L. Kim
berry and +. IT. Bull, of Sharon, Pa,
capitalists well known throughout the
east as having made millions in the iron
industry. They both are now heavily
interested in western mining proper
ties, and have done much for the min
ing industry Of this state.
Mr.. Kimberly Interested.
With the early history OF Mr.. sny-
der's struggles in the Gold Mountain
district, where ne still has many in
terests this story viii not concern it
self. In 1899 Mr. Snyder first met r.
J.. Kimberly, and presented 10 him the
proposition for the purchase of The An
ME Laurie mine. Negotiations We're
carried forward as rapidly as possible,
the mine examined thoroughly, and Mr..
Snydcr's. statements being found TO be
IL l.
EOclates acquired control OF the prop
erty. The original territory has since
been added to, until now the company
has an area embracing close to ], 800
acres. 1t is generally known as a
gold property, although the ores car
~ some silver values. The camp which
grew up as a natural course of events
TO the extensive development done on
that property and its operation after
wards, is known as Kimberly. and IT
Is located i'm Piute county Utah. about
lS5 miles south of Salt Lake. In ad-
dition to the purchase price, the sum
of 100000 was at once placed in readi-
ness for the purpose Of developing the
property and for the erection of mill
compressor plant and other necessary
buildings. This sum does not. how
ever. represent by any means the eX-
penditures by this company in the
AAleNALHA VI NaAAAAAliee Ut Nth htfllltlEllL DIS
many thousands of dollars taken from
the mine went into the betterments
and development. The teaching tanks
have been four times enlarged, as the
ore opened up demanded larger facili-
b ties. The cyanide process is used for
the extraction of these ores. The aver
age value Of the ore. of which. at the
present time about 100 tons per day is
being treated, is about 50. and over 50
per cent of this value is saved.
The development work so far has
been done almost entirely by tunnel
work and upraises. The present work
ings from which ore is now being TAX
en- have vertical depth Of $50 feet I'M
der the apex Of the vein. There is now
sufficient ore in sight to guarantee the
maintenance of the present rate of pro-
ducement for the next five years, were
no development work done nor any
other new ore exposed. Development
work is. however. being carried on con-
etantly with gratifying results In the
meantime a tunnel, generally known
as No. tunnel is being driven into
the mountain some 500 or 600 feet low
or than the present workings. This tuu-
mel is now i'm several hundred feet and
within the next two or three months
viii tap the veins at approximately
1900 feet This VIII eventually be the
main working tunnel. and VIII allow
the ore to be delivered at the reduc-
tion works without the use Of the tram
way now employed.
Dividends During 1908.
During the past year the property
has paid TO it's stockholders in divi-
dends the sum OF $3.50, 900, and there is
every indication that this amount viii
be doubled during the next year, and
the mine may perhaps do even better
for many years to come.
A. E Hyde, jr., of salt Lake City
is at present in charge Of this prop
ert--.
Shortly after the sale ot the Annie
Laurie property 20 Mr.. Kimberly and
his associates Mr.. Snyder secured con-
troll Of what is generally known as
the Dixie mine. located at st. George,
Utah. The property was developed suf-
ncieutly to prove it's merits, and i'm a
few months was disposed of to cast
ern capitalists, and the mine Is now
being operated by what is known as
the Utah & Eastern Copper company,
and is a steady producer of copper.
During the time negotiations for the
sale of the Dixie mine were in prog
ress Mr.. Snyder became Interested in
what Is generally known as the Dali
ton & Lark properties in Bingham. and
carried forward work on great drain
tunnel, which has since tapped the ore
bodies and unwatered this we'll known
mine
In the carrying forward of this pro-
iect Mr.. Snyder sought and readily Sc
cured the cooperation Of =. L. Kim
berly. and eventually the properties
were disposed of to the Binghom Con-
solidated company. in which company.
however. both Messrs. Kimberly and
snyder are large stockholders. This
deal was closed i'm the summer Of 1901.
During that year Messrs Kimberly,
Snyder and Filler had secured control
Of the Sampson Mining company Of
Bingham, and of the Boss Tweed at
Tintic. Also in that year they. to-
gether with other salt Lake parties,
secured control OF the Honerine mine
at stockton. Since that time F. H.
Bull of Sharon. Pa. has Joined the
combination and is now heavily inter-
csted i'm the HOnerine and other West
ern Exploration company projects.
Incorporation Of Company.
Then in August Of 1901 the western
Exploration company was Incorporated.
taking at that time as its principal
interests the Sampson, Boss Tweed and
HOnerine. The Western Exploration
company has for its objects and pur-
poses the purchase and development Of
mines 1t has on its STAFF some of the
best talent of the country IN metal
iurgy and i'm mining engineering
During the year following the incor-
porati0n Of this company work was
carried on &C the H0nerine. Sampson
and Boss Tweed properties. while it
gradually acquired other interests, Of