The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-04-07
LARGE PAYMENT IS
MADE FOR RANCHES
AmaIgamated Nevada Mines
Has Made Second Payment
of Good Size.
OWNS GREAT MINES
AT BLACK HORSE
Water Rights of Company Are
Among Valuable Assets
of Nevada.

II was learned Saturday that the
Amalgamatcd Nevada Mines and Power
company, through its president, II. S.
Woollcy, has made the second payment
upon the purchase price of the numer-
Gus ranches recently secured by the
company, near Osceoln, and that the
payment had been of the most substan-
tial character, amounting i'll all TO S26,-
66666. The Amalgamated Mines COM
pany has spent the past SIX months or
moro in quietly gathering in about all
that could he desired In and near the
Black Horse district of Nevada. Its
plans are extensive, and from the kind
of success that has rewarded the COM
pany up 10 the present time. 1T ls gen
orally considered in local circles that
the organization will soon see all It's
plans fully rounded out by rewards IN
every particular
This organization owns about siXtv
CLAIMS in the Black Horse district, about
one-half of these claims belonging TO
the company absolutely and on the 9th
or half there are payments yet due
running through several years TO come
The company also owns all the posses
sions of the Osccola Gravel company.
an organization which mt ono Time took
from Its placer properties something be-
tween half and q full million of dol
lars. Included in the Osceola posses
slons. now the property of Che ANAL
gamatcd company, are the machinery
and canals, which will bc utilized Tor
placer workings IN due time. One OF
these canals is eighteen and n quarter
miles in length; the other is sixteen and
d quarter miles long
The company in addition has bought
lnn nT sItlrnItH ranch
critics in the district. along with which
were water rights of immense lmpor-
tancc. is is for these ranches that the
payment WAS made above mentioned,
and the owners, Messrs, Clay, Burbank
ana Baker, arc now IN tins city. being
looked after by the officials of the com
pnnv, among whom is Willard +. Sny-
Der, a director of the company The
tttai purchase price for the ranch
properties was 100000 The company,
thercf.re, is ROW tho owner of practl-
Cally Ill the water in that section of
Nevada; and, aside from, using the same
for their placer diggings, there is suf-
fcieI;t AT hand to generate from 5000
~ 10000 electrical horsepower. which
viii lie used by the company, by the
district III general. ard by Ely mines
sbculd there be sufficient TO spare for
i:,c latter section. The mmin9 prop
cities of the company IN the Black
horse gion are among tho most at
iractive yellow metal propositions III
iht State. and development work now
sell unGcr way is giving forth s7len-
Gid returns.
The payment that was made for tie
ranch properties was raised by Presi-
dent Wcoliey in New EorH City. and
in view o; the fact thlt lie accom-
plished the task of gathering in the sum
ut a time when all thr East was torn
and mannletl from The financial pane,
his accomplishment tai'cs Gu MI the
NOR ,r the remarkable. .hHd { has
served tn strengthen tEe faith in him
that local stockholders have rcposcd in
his ability ever since hc set IN motion
the Amalgamated Mincs proposition.