Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-07-13
ooLoRADos GREAT RECORD.
Tintlc Mine Has Yielded 5000, 900 10
Shareholders I'm Three Months.
Snarta1 TsntraupnpJau,n

shareholders I'm Three Months.
Special Correspondence.
Eureka, July l2---with the distribution
OF the $780, 900 dividend of the Colorado
that was declared Wednesday. a total
amount OF 100000 win have been paid
out by that mine to its shareholders.
The Colorado has been In the dividend
column but lthyees months. The mine
Is without doubt ono OF Utah's great
ginning to realize this fact. 1t has
been only q few months since the ore
was first encountered. and opening up
OF the mine has scarcely begun. yet
mining men who are supposed TO
know something about affairs of this
kind say that there are over $40. 900 900
worth of ore in sight In the Colorado.
Others say that these figures are only
half an estimate. The remarkable
thing about this mine is the richness
of It's ore and the condition in which
it presents itself, there being scarcely
no waste. and the ore as IL Is mined
can be shoveled into the cars and hoist
ed to the surface, cutting mining ex-
penSes down to minimum when the
value OF the ore is considered. Tho
chief difficulty experienced in market
ing the ore is getting II hauled to the
railroad, which is beirs done by team.
The Colorado Is sinking another shaft,
over which new machinery Will be In
stalled, and when ore commences to
come from two shafts this bonanza
Is liable to make some of the oldest and
biggest mines OF the state look like
prospects. There is even talk now that
the dividend for next month Will go
over y per cent.
The Scotia mine In West Tintic has
every indication of being pretty big
proposition. j. II. Erickson, who Is
L.. a. rar1H IA
property, was in town this week en-
route to the mine from Salt Lake. He
made an unsuccessful attempt while
here to procure men to take to West
Tintic to work. Mr.. Erickson stated
that the company is not trying To ship
any ore at present, and will not at
tempt to put any on the market until
the railroad reaches that section. which
he said would probably be this year, or
early next IL Is stated that the COM
pany is contemplating building mill
for the ing of Its low grade ore,
Nnd ship only the high grade rock.
The formation At the Sioux Cons. is
similar with that at the Colorado. says
A. ~ Holloway, in charge of develop
ment work al this property. The Sioux
Cons. lies TO the south OF the Colorado.
The shaft is now down over 80 feet, and
| Il is expected by the management to
get the Colorado vein at depth OF 300
| feet. New machinery except the boiler,
| Ia being installed. and within 30 days
the new holstlng plant Is expected TO
be working Water that Is being piped
TO this ground and also 10 the Iron
King will be ready for use by that
time.
Jesse Knight Of Provo and Supt. john
Roundy of the Colorado and Beck Tun-
mel mines visited the Star Consolidated
mine Tuesday for the purpose Of IN
! yoicing the company's property. pre-
! paratOry, II Is stared, to the CONSOLE
dalton with the Black Jack, which de-
| tails VIII be attended TO within tho
course OF a few weeks. II In likely
! that work viii be continued at both
mines. on the 200 level OF the Star
Cons. a drift Is being run out into tho
eastern part OF the oompany's ground,
and Mr. Roundy states that 1t Is anS-
| ious to have this work go on.
| j. G. Jensen. the president OF the
East Crown Point company says that
| the corporation now has about $4,000 IN
| tho treasury. which amount has beer
! derived from the sale OF treasury stock
recently put upon the market. Prep
| arations are under way for the starting
OF development work. the claims 81
The company now being surveyed.
The Crown Point Mining company u
| another lato addition 20 the listed prop.
critics OF the district the stock recently
| having been listed on the exchange
This Is another OF the knight holdings
laying 10 the east Of the Colorado, TIL
company has now about 5000 In th'
treasury for development purposes.
An office building for the Uncle san
and May Day mines IL being erected
near tho residence Of the superintend
ent or the companies In KniBhtsyIlle
The repairing Of the shaft AZ the Eu
reka Hill Ia ltill going ON aud viii bC
IN progress for another two weeks
Supt. Charlie Baker has returned frou
two weeks trip to salt Lake, TIL
contract with the smalters unde
which the company has been operating
for some time, win expire the first o
August when Il Is then expected tina
the company win be able 70 get bet
ter rate Tor the handling OF It's ore.
August Schmidt was In Provo Mon
day for tho purpose Of attending /,
some matters IN connection with tn