The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-07-12
[EASERS ALL ARE
HAVING SUCCESS
Fortunate Outcome of System
May Bring New Dividend
Payers Out.
FINDING THE VALUES
WHERE OTHERS FAILED
Leasing Operations Are Placing
Large Amount of Money
in Circulation.
Special to The Tribune.

Special to The Tribune.
EUREKA, July 1.-THE leasing sys-
tenn has certainly placed a great deal OF
money in circulation here In Eureka
within tho past year or two and today
1t forms an important factor in tho
camps /. rosperity. This system is car
ried on principally at the Bullion Beck
and Eureka Hill mines, which are the
two oldest mines OF this camp, but
other mines have adopted the sys-
tenn upon a smaller scale. finding II
entirely satisfactory. A few years ago
the Bullion Beck mine was employ
ing only small force of miners and
taking out but little ore. There were
many who thought that the mine was
practically has been" and the stock
holders. who had already received mil
lions OF dollars in dividends, no doubt
were of the opinion that the property
had been completely worked out The
sometimes 1t required considerable
sparring around to meet the monthly
payroll.
Leasers Solved Problem.
Certain levels OF the mine where
there were small stringers of ore.
which the company had experienced
trouble IN working at a profit, were
surveyed and plated and turned over
TO leasers. AS a general thing, the
leaSers met with success, and by the
careful sorting OF ore were able to mako
money right from the start. Some Of
the moro fortunate ones opened up rich
deposits of ore In the old workings and
III a few weeks or months made more
money than they could have made in
years working for days pay. This
stimulated interest and the number Of
leascrs Increased until nearly one hun
dred and seventy-hve miners are now
at work upon leases In this one mine.
Nearly all of them are meeting with
money.
Large Profits Shared.
Every month the Beck company pays
over to the leasers in the neighborhood
of S23 ,000-this being the leasers share
of the money received from the sale
of ore. AS the company receives q roy
atty on every shipment, the amount
varying according to the character of
ore, the leasing system Is continually
enriching the treasury, and the news
that the old Bullion Beck mine is soon
to pay q dividend was no surprise to
the people OF Eureka 1t must not be
understood that the company has been
content with the money which the
leasing system has brought into the
treasury, for a small force has been
continually at work prospecting for
new ore bodies. Superintendent Doty's
forces have opened up new ore de-
posIts upon the 500. 600, 700 and 1900
levels, and hid virtually made q
new mine out Of this old bonanza
These strikes have been made to the
southwest Of the shaft, In virgin terri
tory, which means that the company
has an immense strip of ground which
may yet yield up ore as rich as that
taken from the mine during It's most
prosperous period. Superintendent
Doty says that there is sufficient ore In
sight to insure the payment Of more
dividends, and 1t would not be at all
surprising If the company is able to
establish a new record as O dividend
payer.
Eureka Hill Leasers Busy
The leasers at the Eureka Hill mine
arc in some instances doing even bet
ter than they are at the Bullion Beck,
for the reason that richer ore is found
In the old workings OF the former
mine. The Eureka Hill company is
doing no work whatever, but Is sim
ply keeping the mine open and the
plant In operation for the con-
venience Of the men operating leases
The company consequently is at no
great expense and IT would not be at
all surprising If 1t again took its place
among the dividend payers.