Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-04-01
TINTIC PROPERTY
TOC0MNENCEW WORK
Sale Of Treasury Stock Of TintiC
Silver Crown Gives Good
Working Capital.
WILL EMPLOY LARGE FORCE.
Company Expects to open Up Some of
The Fine Veins That Crop
out ON surface.

Through the sale OF a part Of its
treasury stock 90 eastern people. tae
Tudc Silver Grown Mining company
has been placed in position that iu-
sures another working property u the
Unite district IL is the intention OF
the management lt is said t0 put a gool
sized force of men 90 work az once
upon the property and thoroughly d.
velop the ground The sale OF the stock
puts something like $4,000 ia the treas.
uy with which TO do development
work. with this as a nucleus for the
plans Of the company some. good work
at this property is promised dur.ns
the summer.
Amended articles OF Incorporation
have been filed by the company incrsas-
Ing the capitalization from 100000 60
fo0000). and changing the par value
of the shares to 81 each. This was done
40 the request OF eastern people VINO
took over the treasury stock. AT the
request OF the New York people VINO
have taken an interest In the company,
a preliminary survey Of the entire hold
ings OF the company in the west Tntc
district has been made. The property
consists Of % claims. embracing over
$40 acres. This survey was compl'taI
last week by jay r. Johnson and maps
have been forwarded accordingly.
Tho deal for the sale Of the treasury
stock has been pending for several
months NJ J. Snow. manager of the
property. declares thate the sale gives
the management ample funds with
which t1 carry on an active campaign
of development. which should bo suf-
hcient to- make the property a divi-
dend payer From "a total treasury
stock OF i5OO00 shares. the New York
people take over ISL 900 shares at better
than 10 cents "a share. IL IS declared.
This block Of stock Is to be handled In
New Nrk by w. r. Howard & Co.
WORK LAID OUT.
The management has mapped out a
plan OF activity FOR the summer a
force Of men viii drive n tunnel on
the Galena number ] claim where @ e.
foot vein of $40 ore outcrops near the
creek. Less than 100 feet iu this tun-
mel should tap the vein. This tunnel
site has a possible vertical depth Of
l50O feet on the oXidized quartzite lode
that runs through the property.
A prospecting tunnel viii also be run
under the iron bloWouts alongside the
granite dixie that Oriental claims Nos.
/ and end-on. This surface oxide OF
iron assays a trace Of silver and lead
and 30 cents gold. BY driving tunnel
near the roadside az the foot Of the
hll. q vertical depth of over 1000 feet
may be attained. These claims run up
to the old patented Walker property In
Beunlon canyon. where one tunnel pro-
luced over 1000 tons OF rich ore. and
The face Of the tunnel now shows three
feet OF galena
A tunnel has already been COM
menced on Silver Colorado No 4 claim
.o tap the assure vein that outcrops
on the big hin near the International
property that years ago produced con-
siderable pay ore. That property has a
tunnel and incline OF 200 feet The sill
YER Colorado vein has been stripped and
proven over 100 feet. From 90 op= has
been kEncked of worth $50 90 the ton.
Tho proposed tunnel should find the
vein in about 100 feet
WILL WORK OLD TUNNEL.
Thcn &c Is proposed Co put a force OF
men on the silver Colorado claim clear
ing out the refuse from the cavern la=I
fan That cayc-iu temporarily dashed
to tho ground the cOmpdnys hopes Of
doing some shipping last year The ac-
cident occurred when the miners HaI
extracted some 90 sacks II siscr-leal
ore that is declared 10 run SIS ton.
The workings Will bee umhered and the
work OF sorting and sacking the ore
from tine S-iuch Co -4-uah vein VIII
ue m1ugluited once more.
Iu addition 90 its own -hUwmRs .lIt
the Tuuc Silver Grown is in q likely
locality There is the walker prol erty
adjoining on the west from which aey-
aua hundred thousand dollars iu ore
has been extracted. there IS the Nefa-
la-Utah property ON the north which
has been operating IT'S own mill and
shipping an winter long. there is he
old Scotia mine on the south. from
which large quantities of ore have been
shipped in years gone by and even
now are being piled uD for shipment
Foo the near future. while from one
pocket on tho extreme eastern claim.
the silver star OF lts own holdings.
near $4,000 iu Oro was shipped somo
10 years ago.