Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-10-26
PRICE Con. NOW
REGULARLY LISTED.
Stock Was Called on the Mining
Exchange Today for the
First Time.
GREAT TONNAGE OF ORE.
Management Estimates 100000 Tons
or Profitable Material
III Sight.

| The stock Of the Prince Consolidated
Mining company has been listed on the
Salt Lake Stock & Mining exchange
ana was called for the first time today.
rms Is the first one Of the Phoebe mines
to receive recognition by the exchange
organization and is taken to indicate
that 1t Will not be the last one. Recent
developments in Phoebe have been of
such a character that It's Importance as
producer of ore in the future has be-
come well recognized. The camp con-
tains several great silver-lead mines
and Prince Consolidated is one Of them;
Ohio Kentucky is another; the Nevada
Utah properties possess great merit
and there are probably dozen more
mines in the district, probably more
than that number, that will make a
good account of themselves when the
camp is provided with mill and smelter
facilities.
But Prince Consolidated is one of the
recognized leaders. 1t has the back
ing OF experienced mining operators as
the work done there plainly indicates,
as well as men of large means.
The company is capitalized for 1,000.-
600 shares par ST. OF this, 200, 900 shares
is treasury stock,of which 100, 600 shares
have been sold. The company has no
debts, no litigation and no clouds on
the titles of its properties. James L.
Hackett Of Louisville, Ky, Is president
of the company, and Anthony H.
Godbe of this city is secretary and
treasurerer. There is cash In the treas
ury amounting to sl2260. The proper
ty consists of four claims. one of which
Is patented and the others in process
of patenting. In addition to this, the
company owns 800 acres of patented
land in Dry valley, and 200 acres at
the old smelter town of Bullionville.
few miles out OF Phoebe.
The management of the property es-
Inmates that there are at least 2000,-
900 tons of sllver-lead-lron ores blocked
out and in sight in the mine, and the
statement giving the amount of devel-
opment work performed shows that
there Is a shaft 40 feet deep; 1 100 feet
of wines, 200 feet of raises, and 500 feet
of cross-cuts. The great mass OF the
ore is low grade, but will pay a profit
of several dollars a ton when handled
on q large scale. In the mine, how
ever. are several veins of high grade
ore from which shipments made re-
turned profit OF approximately 500
ton.
LII uuulLloll 10 tue lOuIhBes exposed III =
the mine proper, the company owns the
Bullionville tailings dump. consisting of
171,000 tons and containing gold silver
and lead values averaging all of $40
a ton. BY re-treating the tailings by
modern methods, the company will reap
a handsome profit.
The Prince Consolidated mine is
splendidly equipped. 1t has 40-horse-
power gasoline hoist, including the
buildings for the housing Of this and
the 1O0-horsepower 1ngersoll-Rand COM
pressor, with all appurtenances. There
is boarding house for 200 men, six
bunk houses. two dwellings, assay Of
fees. company office building, carpen-
ter and blacksmith shops store house,
stable. horses, wagons, etc.
AT Bullionville the company owns a
large mill, equipped with boilers, en-
gine, stamps. rolls and crushers, to-
gether with all other euipment and
necessary buildings, together with
perpetual water right for 800 gallons
per minute, and the estimated cash val.
ue of these improvements is placed at |
100000. The company also owns three
miles of water pipe line to Its mines,
and IS miles of telephone line. From |
its mines to the railroad is only three
miles. and at the present time force
of 80 men is kept on development work
at the property.