The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-03-02
BIG OPERATORS
INVADE ALTA
Samuel NeWhOuSe and Others
Acquire Large Holdings in
Emma Copper Company.
WILL MAKE THINGS HUM
WENT IN ONLY AFTER FULL IN
VESTIGATIoN.
WILL MAKE THINGS HUM

One of the biggest and most signifi-
cant stock deals that has been pulled off
in this city for a long time was consum-
mated yesterday when Samuel Newhouse,
president of the Boston Consolidated and
Newfouse companies; d. c. lacking.
general manager of the Utah Copper
company, and c. w. Whitley, general
manager OF the American Smelling & Re
filming company's Utah plants, took over
big block of stock in the Emma Copper
company and plunked down the hard
cash for it. Those interested would not
say how much stock had been purchased.
nor would they give the price paid. 1t
IS understood, however, that Mr. New
house gets 100000 shares and Messrs.
lacking and Whitley $1,000 shares each,
all at 81 cents d share.
The parties named took an option on
the stock some little time ago, their ac-
ton being prompted by a perusal of a
report on the property that was made by
John A Kirby, president and general
manager of the company. The option Sc
cured, representatives of the interests
mentioned proceeded to check up on Mr..
Kirby report, with the result as given.
Yesterday afternoon the purchasers of
the stock were each given place on the
board of directors, which now reads as
follows: John A. Kirby, president; JO-
seph Lippman, vice president; f. o. How
ard treasurer; w. NJ. Wantland. secre-
1ary: Samuel Newhouse, d. c. lacking
and G. W. Whitley.
We consider the proposition one of
merit and full of possibilities" said Mr.
Newhouse last evening. so we decided
10 go into it and lend il our active sup
port and encouragement The chances of
making a big mine are considered excel
lent and. now that the proposition is
backed by ample means to accomplish
results, il is in my judgment simply a
matter of development. ! have some no
tons of my own concerning the Alta
camp and, while / am not ready to tell
what they are at the present time, IL is
possible that i shall have a surprising
piece of news for you one of these DAYS"
When men like Newhouse, Jackling
and Whitley go into camp it is equiv
alent TO a declaration that its merits are
recognized and that it may be counted
upon to move. Every operating COM
pany in the district, from the West CO.
at the head Of the canyon. will profit by
the prestige given the district by the
entry of these men, for they do things.
The Emma in the early pioneer days
of the district was the bonanza mine of
the camp. only the rich surface chloride
and carbonate ores were touched and no
attempt was made to develop at depth as
the Columbus Consolidated. adjoining.
has done. 1t is now looked upon as hav-
ing all the possibilities of the rich neigh
boring bonanza and. as il would be pos
sible TO almost throw a stone from the
workings of one to the other, mining
engineers and sagacious miners who have
studied the proposition, contend that I'M
told riches will be dug from the sulphide
zone. underlying the carbonates. The
Emma was owned in London and the
prOdigal and eXtraVagant manner of its
handling was The talk of the time. 1t
will be mined right from now on.