Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-06-14
CONSOLIDATION
IS COMPLETED.
Salt Lake Ground at TOnOpah BE.
cOmeS.a part of the Jim But
Ter Holdings
DEAL STOPPED LITIGATION.
Negotiations We're Pending for Several
MOnths--rhree Hundred Acres
OF Territory

me most important mining deal IN
the history of Tonopah In it's bearing
on the future development of the dis
trlct was consum mated last Saturday
by the purchase BIZ the Jim Ruflor
Mining company Of the property Of
the Tonopah and salt Lake Mining
company, consisting Of the stone
Cabln and Wandering Boy claims.
says the Tonopah Miner. This transfer
was the hnal step In a gigantic con.
Nolldatlon project which had been on
ioot Tor Fix or eight months and which
had for ITS object the bringing together
under one management OF AN the prop.
critics Of the Gold Hin, Salt Lake
Fraction and Tonopah city companies
ana a number Of individual claims
contiguous TO these properties.
me Capitalization Of the new COM
phhy IS 100000 shares, of which 1 400.
VoO shares have been paid for the vari-
GUS properties acquired under the re-
organization. one hundred thousand
shares Of the treasury stock have been
sold for 81 each, giving the company "A
working capital Of 100000 John w
Brock Is president and Clyde A. Heller
IL secretary.
Frank A. Keith, general manager
ana superintendent of the Tonopah
oVrlpaIy' WIN nave direct supervision
OF the operations OF the new company.
charles E Knox. president of tho Mon
tand-Tonopah, who so successfully nro-
NOTED that great property and who bv
nus able management has placed IL I'm
the front rank Of TOnopah mines. has
accepted place on the board OF direc-
TOTS az resident director and the new
organization VIII have the benefit Of
MT knox's wide experience I'm operat-
ing It's immense holdings.
The Jim Butler company has lensed
the valley View shaft from the Tono-
pan company and work was begun
shaft. ''"'
The new company begins operations
unueV the most suspicious circum-
s'alSes' me management liz I'm the
hahds OF some Of the strongest ana
most practical mining men I'm the ais
trlct the treasury is amply proyided
WIN FUNDS. and the holdings OF the
company embrace 300 acres OF the host
mineral ground in Tonopah. immedIs
ately adjoining the Valley View on tho
east, south and west. AS is well known
the valley View has the largest and
strongest ledge I'm the district. In thia
connection It Is interesting TO recur 10
lhe fact that i'm November. 1900. tho
.-'dil1Np"u CoHlpany refused an offer OF
FoOOO'OOO for the Valley View clain,
alone The great Valley View hedge
extends through the Stone Cabin and
II II Keeps its present trend Will pass
through the Curtis and Eureka claims
OF the original Fraction group. and
there are other lodges south of tho
valley View and parallel with IL which
WI undoubtedly be encountered I'm Tho
stone Cabin and Wandering Boy. the
Gold Hill claims and the Fraction
property One Of these Lodges win no
selected and drifted on In both direc-
IONS The principal DEVELOPMENT
work VIII be prosecuted on the 500 lev.
el' as the prospects for big values on
that level are excellent, owing 10 the
fact that the best showing In both Tho
Mispah and Valley View claims is on
the 500 level
The purchase OF the Salt Lake nron-
erty by the Jim Butler company ended
the expensive litigation which had been
pending for more than two years he
tween the Salt Lake company and tho
Tonopah company and released from
Injunction some of the most valuable
mining ground I'm the district Alto
gether the great consolidation means
much for Tonopah, for Il will result I'm
the employment Of large force Of
miners in the immediate future and will
thoroughly develop a vast area of rich
mineral territory.