The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1909-09-26
CLOSE DEAL IN
PIOCHE MINES
Consolidation of Ohio Kentucky
and Nevada Utah Becomes
a Fact.

With the actual signing by them OF the
contract for consolidation of the Ohio
Kentucky and Nevada-Utah properties, in
Phoebe district, officials of the Chicken
lucky company yesterday released the in
formation that such consolidation had
been effected. The contract had before
this been approved by controlling inter-
eSts OF the Nevada Utah company so that
there is no longer doubt Of the deal go
ing through.
The contract provides for the forming
of new corporation, to be known as the
Consolidated Phoebe Mines company, one
half OF the entire capital stock of which
will be owned by the Ohio-Kentucky com
pany, the other one-half to be the prop
erty OF the Nevada-Utah company Each
or the old companies win hold in its treas
ury as an assest its share of the stock
the new company, according to the agree
ment, is to be named by the Nevada-Utah
company, while the managing director
VIII be named by the OhiO-Kentucky COM
pany.
Arrangements for financing the new
company for an energetic campaign and
for building a concentrating mill to treat
TIE ores of the consolidated properties
| have already been made. 1t is expected
that about sixty days time will be re-
quired to complete all details of Organi-
cation and financing, but in the mean
time the mine workings are being cleared
out, shafts are being retimbered and ex-
haustive tests of the ores to determine
the process best adapted to their treat
ment are in progress.
Includes Three Mines.
Tho properties included in the CONSOLE
daton include three mines-the Raymond
Ely, the Susan Buster and the Green
wood. No. ! shaft, a three-compartmeu
affair, thoroughly equipped, is centrally
located for working the three mines to
advantage, and there is an excellent mill
site close to the dump Of that shaft. The
shaft is so feet deep. It is intended to
at once sink IT to the ], 300 foot level
where it viii inteTsect the Raymond Ely
black ledge and where connections will
be made with the Susan Buster and Green
wood ore bodies. The Greenwood ore body
is a new discovery on the black ledge
while the Susan Buster ore body Is in a
parallel vein. Immense tOnnages of sill
Ver-lead-zinc ores are exposed in all of
The Raymond Ely mine produced. some
S24O00CU in the early days of the camp,
working only to the S00-fOot level on its
bonanza ore body and leaving the sui
phide ores untouched from the surface
down. That the ore bodies extend to
great depth there is no doubt.
Ends fractional Troubles.
The mines have been idle for years on
account Of apex disputes, The consolida-
ton adjusts all troubles Of that charac-
ter and, as OhiO-Kentucky officials ex-
pressed it yesterday, there will be no fur
Their factional differences-the hitherto
cOntending interests in the Phoebe district
viii work together for success. It means
thorough revival of the old camp. With
present day processes for concentrating
the ores carrying zinc values. which gave
the early operators so much trouble,
profitable production by the mines for
many years is assured. Mills Of large
capacity viii be built as rapidly as pos
sible and 1t is likely that smelter will
soon be provided.