The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-12-29
SILVER KING COALITION
MINES COMPANY

When, on May ?. 1907. articles of in
corporation were filed in the state of
Nevada for the Silver King Coalition
Mines company the western mining
world awOke to the fact that one of
the most important and biggest min
ing deals of the year had been closed
and Park City, the grand old mining
camp of Utah, threw its hat in the air
with joyous acclaim, for the new COM
pany had come when it was most
needed. when its impetus was most
valuable.
The Silver King Coalition Mines
company was organized for the pur-
post Of holding and operating that
great, valuable stretch of mineralized
land at Park City of which the ia
nous Silver King formed the nucleus.
The honorable record of this property
is so well known throughout the west
ern mining country that to mention
Park City is to bring to mind every
detail of the history the mine Many
millions worth of ore have been taken
from the mine and the ground in ques-
ton. 1t is the mineral garden spot
Of Utah, the richest district i'm the
state, and one that has made the
state famous for its mining product
the country over.
As has been stated the company was
organized under the laws of Nevada.
The capitalization was placed at 1885,
600 shares of stock. each with a par
value of s., making a cash capitaliza-
ton SG250,000 The incorDorators were
those who were prominently associated
together in the old Silver ing prop
erty, and they include former United
states Senator Thomas Kearns, David
Keith, w 5. Mccormick. James Ivers.
I.,l,ra
mayor of Salt Lake: w. Mont Ferry
and Mrs. Mary Judge. Thomas Kearns
is trustee. On May % the officers Of
the company were elected as follows:
David Keith, president: Thomas
KeaIns, vice president and manager:
W. :. Mccormick. treasurer, and F. J..
westcott. secretary. The board of di-
rectors was then elected and is made
up of the following representative
men of Salt Lake: Thomas Kearns.
David Keith, w. S Mccormick John
BransfOrd, J. Frank Judge, w. V.
Rice, James Ivers. w. Mont Ferry and
Moylan c. Fox.
Work Well Under Way.
Scarcely had the formation of the
company been completed when Cen
eral Manager Thomas Kearns began
active preparations for the develop
of the virgin property of the holdings
of the company and to increase the
work on the old Silver King. The first
step was to increase the capacity of
the Silver King mill one-third, maxi
ing its capacity 300 tons of ore a day
The Kearns-Keith plant was brought
to the old Silver King mill site, and
all the milling grades of ore were sent
through the one mill and thence by
tram to the cars. Shortly after the
formation of the company General
Manager Kearns announced that the
company would be on the dividend
paying list by July, and the progress
of the company along that line IS 100
well known TO need repetition.
The acreage represented in the hold
ings of the Silver King Coalition Mines
company is so large that il might well
be called a small empire in itself in
the mining world, 1t has been gath
cred together with the one idea of Sc
curing valuable mineral ground. with
due consideration for apex points. The
amaigamation between the various
properties was made possible original
ly through the compromise made be-
tween the Silver King company and
the McGregor interests. Following
that compromise former Senator
Kearns has been busily engaged in
rounding up additional groups of claims
that will prove valuable to the Silver
King Coalition Mines company. In
cluded in the holdings of the latter
company are real and personal posses
sions of the old Silver King property,
an organization with a dividend record
of over s10,s0O0OO; the Kearns-Keith