The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1909-02-18
MINES A ND MINING

ing the tensile strength OF steel Vana
dium steel is becoming more and more
in demand for railroad and automo.
bile axles and high-speed machinery
parts.
A winze sunk on three feet OF rich
copper ore showing In a drift from
the tunnel OF the Fort Hall Mining
& Milling company, six miles south of
Pocatello, Idaho, has at sixteen feet
depth developed six feet of the high.
est grade stuff.
Opening a sensationally rich gold
ore in the property of the Nevada
Humboldt company and by leasers on
an adjoining property is said to have
precipitated one OF the greatest min
ing excitements seen in northern Ne
vada for many day.
Samples of gold ore from the In
dian Ike property in Black canyon
near Humboldt, New, received in Salt
Lake City. are all so full OF gold that,
IL crushed up and assayed, they
would give returns of anywhere from
$4,000 to 100000 per ton.
The American Smelling and Rein
ing company and its affiliated con-
Germs, the American Shelters Securl-
ties company Guggenheim Explora-
tion company and the Ely companies,
recorded an increase of 100 per cent
in the 1908 copper output over 1907.
AS was frequently predicted by the
Mining World, the beginning of 1908
witnessed marked improvement in
the earnings of American mines and
works, for thirty-three of these de-
clared dividends in January of 1885,
667, as against twenty-five, in the
same period of 1908, paying out
total of $4,797 ,403
Advices from Luning are that that
mining camp is making much pro-
gress with but little noise. Several
properties in the district are develop
ing good ore bodies and a few are
making occasional shipments. Luning
is a station on the Southern Pacific,
20 miles south of Hazen and 101
miles north of GoldHeld.
The Fort Douglas Mining & Milling
company, with headquarters at Cal
lao, Tooele county, incorporated last
week with a capital stock of $4,000,
in 81 shares. This is divided into 45,-
600 shares of common stock and 5000
of preferred stock, all of which latter
porators are Iowa people.
1t is understood that Charles M.
Schwab has disposed of practically all
his mining shares, including Santoy,
organized several years ago with
capital Of $6,O0O,00O, Tonopah Exten-
sion and Montgomery Shoshone. San
toy, 1t is claimed, is now controlled
by group of prominent Pittsburg
financiers and business men,
A winze has been sunk from the
25O-foot level of the vertical shaft for
a distance of 100 feet in the st.
George Copper company's property In
the Dugway district; there is exposed
in the bottom about three feet of
good lead-silver ore, the assay con-
tents OF which have not been given
out, as the ore had not been tried
out
The Golden Reef Mining company
is coming to the front with some of
the best ore seen in that district, says
the Richfield Reaper. The ore was
encountered in the main shaft, and
this has been sunk ten feet in the
ore body and no sign of the end. AS
says from the ore show values of Sc
to So a ton in gold and GO to ~ per
cent lead
The Guggenheim Exploration COM
pany has issued its statement for the
year ending December 81, showing
that nearly all the American Smelter
securities B" stock has been sold
out of its treasury. This feature of
me report is causing considerable
comment in the street. The assets
total SS9647,219 and the liabilities
column surplus is given as $13,643 6SS.
The quarterly dividend of so cents
A share payable by the Amalgamated
Copper company February 23 will
bring the total sum of returns to
shareholders since October, 1899, to
sos, 1913, ,249.50, At present this corpor.
alton is employing in its several indus.
tries about $3.50 men at Butte, Great
Falls and Anaconda Montana. The
monthly payroll is about $1,000, 900
The most interesting news item
brought out at the Giroux meeting was
that, Notwithstanding all the money
poured into this property to date.
approximately to $1,000 600.
1t would require another 81 ,00O,OO to
bring the equipment and development
up to that point of efficiency that the
company could place its copper on the
market profitaby, says the New York
Mining Age
The famous Dos Bacos oil well