The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-05-22
NEW SILVER KING
COMPANY FORMED
Splendid Acreage Included in
Line of Big Company for
Park City.
is NOW LAUNCHED
UPON IT'S CAREER
Six and a Quarter Million Dol
lar Company Owns Two
Thousand Acres.

By fling the articles of incorporation
Monday in the State Of Nevada, under
the laws Of which commonwealth the
company was formed. there is in being
the organization TO be known as the
Silver King Coalition Mines company.
This company, rs can readily be per
ceived, is the new holding company TO
take ever a magnificent area of the
splcndidly mineralized territory of the
Park City region, tho nucleus of which
is the famous old Silver King property
whose honorable record is well known
throughout the mining and investing
world. This organization has been in
process Of formation for several
months, aud not until Tuesday would
Dickson, Ellis and Ellis, the attorneys
for the company, consent TO release any
information for publication in regard
thereto.
AS stated, the company is organized
under the laws Of the State OF Nevada,
The capitalization is placed at 1.250,000
shares Of stock, each of the par value
of So. making cnsh capitalization Of
$6,250,0OG. The incorporators arc those
who have been prominently associated
together In the old Silver King com
pany, and they are Senator Thomas
Kearns, David Keith. W. S. McCor.
nick, James Ivers, Windsor V. Rice,
John Bransford, w. Mont Ferry, Mrs.
Mary Judge; and Thomas Kcarns is
trustee The incorporators met Tuesday
afternoon for the purpose of selecting
the directors and officials for the first
year of the new company's existence,
aud this meeting resulted as follows:
David Keith, president; Thomas
kearns, vice-president and manager;
", 5. Mccormick, treasurer; Frank J.
Wcstcott, secretary. The board Of di-
rectors is made up Of Messrs. Keith,
Kearns. Mccormick. w. V. Rice, James
Ivers. John Bransford, j. Frank Judge,
w. Mont Ferry and Moylan C. Fox.
Manager Kearns stated after the meet
ing that the capacity of the Silver
King mill will be increased one-third,
bringing its capacity up to 300 tons of
ore per day. The Kearns- Keith plant
will be brought to the old Silver King
mill site, and all the milling grades Of
orc will go through the ono mill and
via the tramway to the cars. Senator
Kearns also intimated that the COM
pany would be counted on the divi-
dend list in July next, but he would
give no intimation Of the amount TO
be paid out
The acreage represented in the Sill
Yer King Coalition Mines company's
boundary lines is one of the largest in
the west from mining standpoint.
making IL almost an empire, and all
gathered together with the one aim of
securing valuable mineral ground with
all due consideration to apex rights
The amalgamation of the various prop.
critics has been possible through the
recent compromise made between the
Silver King company and the McGreg-
oT interests, since which time Senator
q -nc I.c h.n, ,,>l1 -.
OF rounding up many additional groups
OF claims. Included within the lines
of The company are the real and per-
sonai possessions Of the Silver King
company, an organization with divi-
dend record of Sl0,000,0o0 the Kearns.
lleith Mining company, the Magnolia.
ST. Louis company. the Pinyon Ridge
company, tho Baltimore Mining com
pany, and ali the McGregor holdings
upon the hill. Also the Addenda group.
the individual holdings of Thomas |
and the properties Of the Odin com. |
pany and the Belmont Mining company.
These properties give the new organi,
2atlon total area OF over 1000 acres,
auo among them are several groups |
which have made history of the most !
honorable sort during the past, and all
capable and certain of making equally |
as honorable records IN the many years |
10 come during which mining will be |
carried forward within these lines. 1t |
is safe TO predict that after each and
Iii OF the present officials have ceased |
TO be, remunerative mining still will be |
carried on by the company, should not
AN additional foot of territory be added !
To thai already possessed The Silver
King the generous proft-sharer, ac-
cording 10 the reports Of those who |
have visited the property recently has |
not been exhausted by any means, and |
1T will provide a mighty substantial |
of the dividends soon to be |
and maintained by the |
company.
The formation of this company means
new life for Park City, and it comes at |
n time wnen such an impetus is abso.
lutely essential TO the welfare of the !
camp and the mining end Of the State
generally Now that all plans have
been formed. tho company can begin |
its career of usefulness to the better !
rnent of all the State, and especially TO |
tho betterment of Park City and Salt !
Lake City Many millions of dollars |
worth OF orc have been taken from the |
ground IN question, the greater part of |
which has been utilized in the upbuild !
lng OF creator Utah. In thu future
those al the helm can be looked TO for |
additional good to the State. All effort !
VIII be used TO make this company tho /
monumental concern Of its kind in 1
4 -tu, - !