The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-06-05


For Good Hope group. 1000
Total .,................ SlI5lO
Balance ........... S63 800
Whereas the Frisco Contact company
owns eighteen mining claims. the new
| Consolidated company Will own thirty one
claims, all contiguous and forming a
compact whole. Stockholders OF the
Frisco Contact company are now given
the opportunity until March To- 1909,
To subscribe for one SO share OF the
Frisco Consolidated Mining company on
the surrender of eight shares Of their
present stock and the payment OF 30 cents
In cash. CThis is equivalent 10 cents
FOR each share now owncd.) The cash
payment may il permitted, be made in
five equal quarterly installinents. the
first installment of cents to accompany
the subscription. A Arrangements have
been made with Malcolm Green & Co 70
sell fractional shares that may he re-
rate Of S2 per whole share, and they,
moreover. offer until March TO- 1909. to
allow Frisco Contact stockholders 10 take
at cost any part of the stock underwrit-
ten by them.
Recently, from Malcolm Green & CO.
Of Boston. the following statement was
made. the part quoted being a portion of
the entire report:
The result OF this consolidation will be
10 get the money necessary to develop the
combined properties. The result of fall
ure 10 get the money would have been
the continued shutdown OF Frisco Con-
tact Mining company II was not expo
dent for Mr.. Rohlnng to announce, prior
10 this consolidation, the facts as learned
by him concerning the position OF the
vein found on the 500 foot level OF the
Frisco Contact Mining company. To have
done so would have made this acQuisi
tion Of the other properties either totally
impossible or so costly as 10 have been
alinTDa Ia
encc was falsehood. This. in brief, Is the
real reason why we have had no reports
from him OF any consequence for over
eighteen months
Failure to acquire these adjoining lands
now would have left Frisco Contact Min
ing company subject 10 tho menace of
legal strife that would arise under the
apex mining law. which has been the oc-
casion for wholesale and iniquitous waste
OF money by other mining companies in
lliga tion. with respect TO the ownership
or the vein found on the 600-foot level
In tho workings OF Frisco Contact Mining
company. That vein: though we'll within
the Frisco Contact boundaries at the sur
face. was found 10 have been pushed so
far westward that a large part OF II at
500 feet depth now seems to lie within
the vertical boundary lines of what was
formerly the North Horn Silver Mining
company. 1t Is equally probable that the
same trouble would have arisen with the
owners OF the Glorious group OF claims.
This danger is now eliminated. These
not been acquired in this manner, un-
dcubtcdly would have been purchased
by other mining men and companies who
now are actively interesting themselves
In that mining district and are buying all
available and promising mining claims.
Frisco Contact Mining company could
price that IL would he able 10 pay.
The maps recently made hy p. z.
RohlRng show that No I shaft OF Frisco
Contact Mining company. and the work
Of that shaft. are almost, IL not exactly,
at the center Of the area covered by
solidated, Work should in any case be
resumed al the points where good ore
was found. But It looks as though the
certain result OF further work at those
points, and especially where the best
showing of good ore was found. If done
by Frisco Contact Mining company alone,
and II no consolidation had taken place,
would he the immediate assertion Of own
ership by North Horn Silver Mining COM
pany and by TIC owners OF the Glorious
group of claims Of that portion Of the
vein the apex of which undoubtedly Is
within Frisco Contact boundaries at the
surface hut within -their vertical boun-
dary Inns al u depth Of 600 feet. Any
Of the respective rights of
The three parties that might he under
taken subsequent to further development
work and tho enlarged exposure OF the
certainly would have cost Frisco Con
tact Mining company sum of money
many times greater than the entire ouS-
lay now being made In acquiring com |
plete ownership OF the three groups !
comprising thirteen claims.
Frisco Consolidated Mining company /
now owns all Of the properties that cover |
practically the entire distance from the |
old Horn Silver Mining company at tho !
south of us. 10 Beaver Carbonate Mining !
company at the extreme northeastcrn |
end Of the Horn silver lode. There is J
no probability Of finding any part OF the |
Horn silver lode outside Of these thirty |
one claims. oNCcpt in the fraction Of "A |
claim called u. y. & j.. which separates
MS by few feet from Beaver Carbonate
Mining company. and In which an I'm
portant discovery of good ore has very /
recently been made. The ownership oc !
the Good Hope group Of mining claims |
Us important 10 MS. Notwithstanding that
they are not now considered OF much !
valuc for mining purposes. as they give |
us bumper" or barren zone (suppos-
edly) that further separates us from
the other financially strong companies
lhal tho mining landS along hnr-