The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-10-31
GOLDF|ElO DAISY
IS AT STANOST|LL
Local Officers and Eastern In
tereSts Cannot
Agree.
FINANCIAL MATTERS
CAUSE OF TROUBLE
LeaSers Are Busy and Getting
Profitable Results From
Their Work.

The output of the Combination frac-
tion is maintained at eighty tons daily
which is treated at the twenty stamp
leased mill, the heads running between
S25 and $50 per ton, It Is announced
that after the payment of the COM
pany's first dividend, on November .,
there will remain cash balance in
tho treasury of over $l00,00O,' aud
monthly profits are expected to exceed
$45,00O for some time, as there are
largo quantities of excellent milling
ore exposed in the mine. The company
is using tho old Oddic shaft, which Is
Gt2 feet deep, and has n good equipment.
including r high-power electric pump at
The bottom of the shaft. The company
has successfully treated considerable
amount of orc which had caved III lbe
old lonse slopes.
Company operations on the Goldhcld
Daisy have practically suspended and
n small force is now cleaning up tho
remaining ore at the surface. 1ho local
officers and directors of the company
have resigned in 4 body and relations
arc strained between them and the East
rrn heads of the company at New York
designations were rendered by President
Charles D. Wilkinson, Secretary and
Treasurer W l.. Garden and Directors
Harry G.. Cutler, Chester Lyman and
w. B Morris The monetary affairs Of
The company have been conducted from
The New York office aud short time
ago Nj. Wilkinson, who had been act
ing as manager was called to New ork
and made president. II Is now charged
that the real financial condition OF the
ccncern was concealed from the local
officers that the Eastern directors rave
bccn HaGlpulating the stock to the Oct
rir"ni Of the company and the lli,cf
have :;.ilcd TO meet the Septic Mbcr pay
rull. aIGoUutlng 10 81 600.
Suit has been filed against The Daisy
in attachment proceedings II re"oNcr
s.. 900 with costs and interest tor near
" two wears, being money loaned by
the Goldicld American Mining com
many. of which Frank T.. Horton is pres
ident Horton was formerly director
of the Daisy company and the original
locator Of the property. 1t is sand that
tho Eastern officers kept Wilkinson in
ignorance of this Indebtedness when
thcN prevailed upon him 10 accept the
presidency. He declares that the Daisy
could be operated at profit, as 1T WAS
for eight months uudcr his management,
bat that the Eastern men insisted upon
extensive development instead OF con
timing their efforts To opening up the
known ore bodies, Several leases are
operating on the Daisy, and of these,
three have exposed rich ore and made
small shipments.
\ force OF miners has started work
on Columbia mountain, where pay ore
has been exposed at depth of 10 feet
on the b. +. Thomas lease. Tho shaft
viii be sunk following the vein until
the dip is determined, when raise will
be sent from the old company tunnel
TO connect with the shaft. Leases on
The Atlanta are developing vigorously
aud ore of milling grade is exposed al
Two points in the dacitc. while seams
OF rich stuff have appeared in the Pre-
cious Metals and Fairview Cherokee
leases. A shipment Of good orc was
made recently from n lease on the Blue
Bull and seams of bigh-grade have been
cut on the Velvet claim of the Merger
Mines company. Crosscutting is IN
progress at 22G feet depth on The Crack.
cr Jack by Mitchell & Fairfield, who
have been granted an extension on their
lease for six years. 4 vein of rich ore
is exposed in the Diadcm lease on the
Grea, Bend at the 100 level.