The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-05-18
KING COALITION
ANNUAL IS HELD
Past Year of COmpany'S 0per-
ationS Shown to Be Most
Profitable One.
OUTPUT BRINGS $1,345,OOO
ENGINEERS REPORT ON MINE
CARRIES STARTLING FIGURES.

AT the annual meeting Of the Silver
King Coalition Mines company. held yes
tefday afternoon, reports were submit
ted covering the operations OF the COM
pany for the fiscal year ending April l,
together with statements covering the in
come account of the properties OF the
old Silver King and the Coalition com
pany for the last seven years. In ad-
ditiOn a report covering the physical con
ditiOn of the mines at the present time
was submitted by Charles p. Brooks, the
we'll known mining engineer and deputy
United States mineral surveyor, who has
been an engineer for the Silver King COM
pany and its successor from the begin
ming Mr.. Brooks report is interesting
as showing thu the actual. probable and
possible underground resources of the
company approximate 900 or more.
Shipments of crude ore and cOncen-
trates during the year amounted to 81
942 tons This product sold for 81, ~. 81.
net to the company. Dividends Nos 3
TO 6. inclusive. and aggregating Sl44,SO0.
were paid while the rest OF the money
goes TO cover operating expenses and ad-
ditions 10 a surplus, the amount Of which
was not released for publication
At the meeting there was a large at
tendance of shareholders and the stock
voted amounted to l,l50,S39 Of the ]. 5000
shares OF capital stock. leaving only ~
16l shares of stock unrepresented at the
gathering The old board of directors was
elected without opposition from any
source ana EDti0MLlE the bLuChnDlQbIS
meeting the board met and organized
The official household of the organiza-
tiOn for the ensuing year, therefore, reads
as follows David Keith, president; Thorn
as hearns. vice president and general
manager. John s BransfOrd second vice
president: ". S. Mccormick, treasurer;
these, with Moylan c. Fox, J. Frank
Judge, ". Mont Ferry, ". V. Rice and
James Ivers, constituting the board Of
directors
Officers Of the company. not directors.
were chosen as follows: F. J. WestcOtt.
secretary; p. J. Talon assistant secre-
tary. George Baglin Of New York was
designated as third vice president and
Frederick Eckstine OF New York as sec
ond assistant secretary. The two latter
officials hold the positions stated because
the company maintains eastern transfer
and registry offices.
Engineer Brooks Report
Salt Lake City. Utah. May IA. 1903.
Silver King Coalition Mines Company,
Salt Lake City, Utah.
Gentlemen-i respectfully submit here
with a report on the properties of the Sill
Yer King Coalition Mines company, show
ing the amOCnt Of ore in sight and the
amount that can cOnservativeiy be eX-
pected to be Opered up by future develop
ment
The Silver King Coalition Mines COM
pany was Incorporated May %. 1907. and
Includes all the properties formerly owned
gether with those of the kearns-Keith,
Crescent. Apex. Boss. St. Louis-Magnolia,
Baltimore. Pinyon Ridge Odin Belmont
and Jupiter Mining companies, situated al
Park City, Summit county, Utah.
The history, geology, equipment and
other details of this mine viii be omitted
here. as they have already been very ably
and thoroughly treated of by Mr.. Duncan
McNichie in his report of Dec. 1. 1903.
At the present time the Silver King Co
altion Mines company is owner and part
owner i'm 80 patented mining claims, en-
bracing an area CT 2,OSS.O1 acres. having
an extreme length of 2e,G00 feet along the
general direction OF the ore bodies, and
width of S,000 feet all covering the lime
stone-quartzite contact.
About One-third of this area on the con-
tact extending 5000 feet from the most
easterly WOOdside works. on the east, TO
the westerly end of the Jewel Slope on the
west and a little over 1000 feet in width
from the nOrtheriy end of the north stODe
on the north to the sOutheriy limits of the
company's property on the south. has
been partly pTOspected and developed by
the present company and its predecessors.
The amount and value of the ore eX-
trscted by the Silver King Coalition Mines
company since its organization on May
20, 1907, to MAY l. 1909. IS as follows:
Tons Gross. Net.
Crude ore SIS 205 2,206 % 81 ,639, 92S 20
Concentrates 1857 S669Ss.07 64.97SO7
Total $3.50 $8,O78Os5.27 s22Hso697
Dividends.