The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-03-13
NEVAOA-UTAH' BIG
EARNING CAPACITY
Phoebe Properties Alone Cap
able of Earning Over Three
Thousand Daily.
CIRCULAR is ISSUED
BY BOSTON AGENTS
Bingham Mines Are Producing
Literally in Lead, Silver,
Gold and Copper.

Numerous stockholders of this city are
In receipt from Boston of tho circular Is
sued by tho fiscal agents OF the Nevada
Utah property. Hooley, Learned & Co,
which has been expected for somo tlmo,
and which gives vast amount of Inter
esting data regarding tho Nevada-Utah
proposition. I'm which so many Salt
Lakers have invested their money. The
circular states that the intrinsic value
Of the stock, now actively traded In on
inc New York and Boston curbs, is based
on four fundamental propositions
What Stock Is Based On.
which to put Its mining properties on
paying basis; the management is OF such
n nature-both as to integrity and ability
that economy, combined with the most
Intelligent and far-siShted business ncu-
men. Is assured the properties have an
immediate large earning capacity, and
fourth, the future production OF these
mines is determined for years to come.
This circular states further.
Fortunate In Securing Col. Weir.
With regard to the management, this
Is I'm the hands OF John Weir, president
and there seems to be no question that
In securing Mr.. Weir's services the COM
pany wae most fortunate, They secured
inc right man for the right place. 4 man
OF wide mining experience and of proven
integrity There are three distinct groups
0f properties owned and controlled by
the NeHada-Utah Mines and Smelters
corporation, They are the Phoebe Con
soldated. the Last Chance and the
Comet properties
Piocne Mines Worked Deep
The Ploche group comprising thirty
ores carrying lead. silver and gold.
There are on these properties several
largely developed mines which have been
extensively opened TO the l40D-foot level
Down to this entire depth the same ore
body is found, carrying about the same
values throughout, and IL Is traceable on
the surface of the property for thousands
of feet. The development Of these mines
includes miles OF shafts. drifts and cross
cats In ore which can be mined and
shipped at a net profit of about SS per
ton, Some OF these mines are prepared
10 ship ore soon the necessary ma
chnery has been Installed. and the prop
critics OF this group are In condition
that will make them very large producers
in a very short time.
Transportation Question Solved.
The matter of transportation of ore
from the mines to the smelters ut Salt
Lake has been satisfactorily solved, for
The San Pedro, Los Angeles & Salt Lake
lailway has been completed within twon-
ty-eight miles OF Phoebe. and this dis
lance has been graded preparatory TO the
laying Of the ties and rails With the
completion of this short branch cheap
md adequate shipping facilities Is as
sured
Earning Capacity of Mines.
Taking as a basis of earning capacity
for the Piocne mines at the end of one
years time a minimum average ship
ment of 400 tons of ore per day, the net
profit Will be S20D per day. at the
tate Of more than : per cent on the stock
which has been issued without consider
ing the other properties of the company,
which Will add their quota OF profit
Calculating the earnings of the Pioche
group OF mines alone In short time to
he In the nclghborhood OF 14 per cent
sued, the percentage of earnings at 81
rcr share Will be thirty per cent
Owns Bingham Property.
The Last Chance properties lie in the
Bingham mining district The develop
ground workings. including TWO large
tunnels. The ore contains lead silver
sold and copper. The properties lie be
tween the United States Mining COM
pany and the Highland Boy OF the Utah
Consolidated Work is being pushed rap
IDLY at the Last Chance mines and its
if0-ton concentrating mill viii be run
ming TO It's full capacity In the course OF
a few months.
Comet Adjoins the Cactus.
The Comet mine is located near Frisco,
Beaver county. Utah. 1t consists OF one
claim Goo feet by 1900 feet, and directly
a6joins the Cactus mine. The Cactus
m'ne. 1t is claimed has many millions Of
dollars worth of copper ore blocked out
y 2Oo-foot shaft has been sunk In the
Comet mine, about go feet from the Cac-
tGs showing without question that the
Comet claim is on extension OF the
Cactus orc bod-.
HONERINE ORE BODY.