The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-09-13
MANHATTAN MINES MERGER
Four or Five of Camps Chief Prop
critics Nav Be Consolidated

The plan of merging several adjoining
mining properties into immense estates
worth millions for the sake Of economical
operations has extended to Manhattan,
where details are being worked out max
ing for the consolidation of the Stray
Dog, indian Camp and Jumping Jack
mines, with the Union No. 3 mine of the
Dexter estate into one corporate body,
says the Goldfield News. IL is stated on
apparently unquestioned authority that
the owners of the control of the three
flist named mines have been approached
with an offer for their holdings Of 81,
VO,OOO Tor the three, and that the matter
Is receiving serious consideration. 1T is
also said upon equally as good informa-
uon that there has been bear movement
IN Dexter for the express purpose of af-
Icrdlng the manipulators an opportunity
70 buy in most of the outstanding stock
at a low figure before the consolidation
1t is pointed out by those who are we'll
informed on the subject that such a
merger would result in the formation of
one of the most valuable mining estates
IN the state of Nevada. Some time ago
tEere was plan on foot for the CONSOLE
dation of the Union No. with adjoining
ground. but as the controlling interests in
the Dexter could not secure control CT
other property that they desired to in
GUIDE IN the merger the deal fell through.
AT that time a very flattering offer was
made for control of the Stray Dog and
Indian Camp, but not enough to tempt
the owners of these famous mining prop
critics to part with their holdings
The four properties involved in the
projected deal are among the big mines of
southern Nevada. The Union No mine
was one of the first big producers of the
Manhattan district Shortly after the
discovery of pay ore on this property an
important find was made on the Stray
Dog proving the continuation of the
great Union No ore vein for distance
or over 1000 feet. Then came discoveries
on the Jumping Jack. and later on the In
dlan Camp, proving the vein system of
Gold nil to be one Of the most strongly
formed and richest in this section. These
TOUR mines have been plethoric producers
IOr nearly a year and have been extern
SlVely developed by numerous deep
shafts. thousands of feet of drifts and
1t is said that there are ore reserves
blocked out in the four properties valued
al over 100000 and that with connections
made underground between them this re
serve will be Increased to So 100000 or
more. The four mines are located on the
same vein system. which IS pronounced
by mining engineers to be one Of the
broadest and most uniform in values in
the world.
A number of the most extensive mine
operators of Manhattan and Goldfield are
interested in the projected merger Some
considerable progress has been made and
there is every prospect that the CONSOLE
dation will be contaminated within a
snort time. If completed, the corporation
taking over the several properties will
country. In connection with the proposed
merger ii IS known that l. NJ Sullivan
president of the L. NJ. Sullivan Trust
company of Goldfield, has conferred with
George WlnSfield, one of the heaviest
stockholders of the Dexter company rela-
tive TO the project and has made him an
offer for his Dexter holdings amounting
to approximately 100000 shares. at a fig
ure considerably over the market
The As You Like 1t estate NAV also
form a part of the consolidation. provid-
ing the small piece of intervening ground
between it and the Stray Dog can be ac-
CURED. IL is known that the syndicate
at the head of the merger movement has
considered taking in this property owing
tc the discovery recently of high grade
ore on the AS You Like IL claim and the
Lizard Fraction, belonging to the same
corporation. Just what price was offered
has not been learned definitely. but il is
said to have been better than % cents per
share. The strikes mentioned have proved
o. more than considerable Importance. as
the ore opened up pans freely in gold,
and the ore bodies have been proven to
De IN place and showing every indication
o. permanency. With every round of shots
Improvement. however and the owners
or the mine may very likely decide to op-
crate their holdings independently.
As result of the negotiations there has
been a sharp advance in Stray Dog, Jump-
ing Jack and Indian Camp on the San
francisco and New York exchanges due
20 an UNUSUALLY heavy buying movement.
Thursday Stray Dog sold at so Jumping
Jack at 4S and Indian Camp at 49, q
gain of from to s points in less than a
fortnight.