The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-05-06
Heavy Interests Sold Out.


Mr.. Friedman then went on to say that
he bad been advised by letter from Provo
that the Knight interests in the com
pany, with the exception of w Lester
Mangum, who still retains his original in
terest IN the company, have sold out. and
that they stood ready to resign their po-
Sltlons on the directorate. Uncle Jesse
Knight. his son, J. William Knight and
X. e Allen. have notified Mr. Friedman
that they are no longer stockholders and,
as all are directors. with Jesse Knight as
president and r. Z. Allen secretary and
treasurer of the company. they will all
step down and out as soon as the books
can De audited and meeting called for
the reorganization of the board
Il don't wish to have the impression
go out that there is the least friction
or the least suspicion of i'll feeling ex-
lstmg between myself and the Provo
members of the board of directors" said
Manager Friedman. neither do | wish
anybody to get the idea, as has been re-
peatedly suggested to ME during the few
hours l have been in town, that | feel
sore or piqued over the fact that these
interests have been selling their holdings
They put their good money into the prom
osltion in the beginning and they have
mad a perfect right to sell If they wanted
TO- In the reorganization of the board
the three vacancies to be filled will he
selected from the heaviest stockholders
IN the company and | am sure that Mr.
Mangum viii remain on the board As
oooil d. NilcSt tildHS6S are mace Inc MAN
offices of the company Will be removed
to Vernon, but a transfer office will be
maintained in this city and a majority
OF the board will quite likely be Utah
men,
Thus comes double change i'm the af-
fairs of the Seven TrOughS company that
should mean much higher prices for the
stock and. within few months, the en-
Try OF The company into the dividend
paying list. The company is now pre-
pared to begin steady shipments and the
danger Of the market being constantly
led with unlimited stock are the things
which are sure to bring a change and,
while it has been some time coming to
that point. all shareholders are now in a
position to celebrate the event
THE shaft of the company" said Man
ager Friedman, is now down $50 feet
and we shall proceed to sink it 200 feet
deeper just as soon as a new cable ar
r1veS for the hosting engine. No stop
will be made until the 750-foot mark is
reached, when crOSS-cut will be run to
the vein and the ore opened up. The
ledge in the lowest workings indicates
that we are Just reaching the zone of
secondary enrichment and I am ready to
wager that we shall have richer ore and
more of it at the 80 level than we have
in any part of the mine above it.
Best Gold Camp in Nevada.
''Now. let me say a word for the camp
in general and l VIII cease talking.
First l want to predict that in eighteen
months from now the Seven Troughs dis
trict will boast more diVidend-pa
mines than any other camp in the state
OF Nevada, bar none. / have never had
a great deal to say about the district,
and what I have had to say has usu-
ally been viewed with suspicion, modest
as l have tried to be. and it is now time
for me to declare myself. In order to-
impress the value of our camp on the
minds of all doubling Thoslases this offer
is made:
Il will wager any amount from 81 to
S5O,OOO that 1 can show more high grade
ore. higher grade ore and more of It,
during a Neutrality-suspicious. trip in the
Seven Trougbs district than all of the
other gold camps in Nevada can show
in a month. I don't know what more l
can say to emphasize the magnitude of
a district that has been brought to the
front OF merit alone. unless it is to add
that. if anybody thinks this is a bluff
all that is necessary to prove it is to
put up the coin and CALI my hand"