Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-11-04
MINING, BUSINESS AND STOCKS.
ENGLISH CAPIT5L
FOR IDAHO MINES
British WIN Put W Money TO safely
Finance silver CITY Mining and
milling Company.


one OF the largest English mining
tyndicatcs will back the Silver city
Mining and Milling company. operating
property al silver city near tho famous
Trade Dollar mine and thousands OF
dollars will be- devoted 20 this cause
in the mining district Of the Owyhees.
when j. +. Cook. secretly o. the COM
pany. arrives la England 20 close deal
which Is now assured. Nh. West ae-
compauicd by his wife. lett yesterday
afternoon for Portland and viii leave
that city Friday Via. one Of the north
orn routes Tor Chicago, whore he VIII
meet L. $ Honstead president Of the
company, and later go 20 New YORK
TO sail for London and meet the OIL
cials of the syndicate who have re-
questcd him 70 come % England VITA
reference 30 closing deal IN connec.
ton with the silver city Mining ana
Milling company. By which the capi-
tai can be furnished Tor its develop
ment Mr.. Honstead viii follow later
says the Boise Statesman
This English syndicate Is claimed 10
be one OF the largest operating. 10 not
only Controls silver and gold properties
in many countries, but also deals IN
diamond mines. OF which IL has several
some time ago Il was attracted 10
idaho By the silver City Mining and
milling company's property and sent
an expert out here 20 look II over. II
was SO wen pleased that he made
favorable recommendation and MI.
Cook was asked to meet the officials m
England Immediately This syndicate
has. In other words decided 10 finance
the property, and Mr.. Cook Is empow-
cred 10 close the deal During the an-
sence OF both secy Cook and Presi-
dent Honstead. II. ". Hand. treasurer
of the company. VIII be IN full charge
OF the management OF the mine. ard
win cooperate with Fred Day, super
intendent.
HAS RICH ORE.
Tho ore taken from this mine is very
rich and is classed as high grade, as
saying good values I'm gold and silver
IT ia located adjacent to the Trade Dol
lar probably one OF the most famous
and best paying gold and silver mines
70 be found west Of the Rockies. Con-
siderable development has been done
upon Il and already work has started In
the driving OF 2.50O-foot tunnel into
the ore body. Enough development
work was done on the property TO con
vince the expert sent here from Eng
land to represent the syndicate and
investigate the mine, that Il will pay
big dividends when once financed. The
ore IL free milling and there Is a mill
near the mine owned by the Trade Dol
lar, which will either be purchased or
leased to handle the ore The electric
power for operation will be secured
from the Trade Dollar line. which con-
meets with Swan Falls on the Snake
river. Approximately 1000 feet Of tun-
mel work has already been done and
four lodges exposed. Located In the
heart OF what Is believed 10 be the rich
est belt IN Florida mountain. the Silver
city mine Is claimed TO be somewhat OF
a bonanza.
IL was learned today from Mr.. Hand
that the English syndicate Is greatly
interested In the development Of iso-
lated mines al present located In belts
rich IN minerals but remote from
proper railroad facilities and that just
as soon as a railroad is built II in
tends to buy a number OF mines in this
section and spend the money to develop
and make them dividend payers.