The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-02-18
SAM NEWHOUSE'S LUCK.
Boston Man Believes the Millionaire
Miner Is Worth Following.

large stakeholder of the Nipissing
company banks on what he is pleased to
term tNeWhouse luck. The Boston
News Bureau quotes him on the subject
as follows;
Il have bought a considerable line of
NipiSsing company stock because Samuel
NewhOuse is nov the guiding genius of
that company. and / am a firm believer
in the 'Newhouse luck for / have fol-
lowed him in most of his mining ven
lures.
mr. Newhouse has made millions IN
mining, and any man who makes his
money from the ground. whether in min
ing or agriculture is entitled TO every
cent he can accumulate. He is now in
vesting 100000 in Salt Lake City real es-
tate and giving the state of Utah. which
gave him most of his fortune, the Deneflt
of his money.
LAS to 'Newhouse luck Utah Consol
dated, Boston Consolidated and Cactus,
his three great mining successes, were all
failures at one time. Utah Consolidated
as the Highland Boy company was sig
nal failure as a gold mine, but Newhouse
never gives up, and by keeping at il he
ran from Improbable gold ore into rich
copper ore, and the shares that were at
that time worthless are now selling at sI0
per share. OF S21 600 for the property.
Mr.. Newhou5e and his associates in the
Highland Boy sold out seven years ago
to the Standard Oil interests and made
millions in so doing. Then ne took up
the Boston Consolidated
For number of years after he had
brought out this company it was disap-
'pOintment after disappointment, and the
shares WIRE selling for q few dollars
each. but by keeping at il he has devel-
op one of the biggest mining propositions
on the American continent. and that com
pany is now building in units 1o.000-ton
mill and the property is selling in the
market for 100000. Mr.. Newhouse IS
the largest stakeholder in this company.
Shortly after he brought out the Bos-
ton Consolidated he secured control of
the Cactus mine in Beaver county and
sold 900 of bonds to help cover the
cost of the property and the erection of a
mill and of the 100000 shares of stock he
personally owns 10000 shares. This mill
was one of the show mills of the country
and il came to be known the New
house Folly because the development of
the Cactus mine proved extremely disap-
pointing and the ores ran so low they
hardly paid to run through the mill. Mr..
NewhOuse, however, did not give up He
continued TO dig and il is only within a
year that he ran into an enormous body
of high grade ore in the Cactus which
will in time make that company one of
the largest producers in the state of Utah.
and he has already given orders for dou-
bling the size Of the mill.
THE above are three mining failures
which have been turned into big mining
succe sses under the direction Of Mr.. New
house. and which have given prominence
to the phrase 'Newhouse luck 1t is
not luck however, but mining ability and
perseverance that have made Mr.. New
house so successful
He has now gone into the Cobalt field
and is president of the King Edward
company of that camp and the largest
stakeholder of that company, and has
also been elected president OF the Nipis-
sing company. MIR. Newhouse will put
his OWL experienced men in charge of
the Cobalt operations and he will dig and
will not be satisfied with any hand-to-
mouth methods. but will work to place
the property under systematic develop
ment He believes that in time the Nj
pissing will develop into one of the great
est silver producers in the world. This
will take time. but sNewhouse luck and
perseverance will win ont