The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-11-04
IMPORTANT CHANGE
IN AMERICAN FLAG
Stockholders Decide TO Operate
on Much More Extensive
Scale.
WATER PROBLEM To
BE THING OF PAST
Lower Levels Expected to Dis
close True Extent of Mines
Wealth.

Word comes from Park City of a
special meeting of the stockholders OF
Inc American Flag company, held at
The company offices there Wednesday,
at which action was taken which will
add materially 10 the future greatness
Of the Flag, and which will rebound
to the benefit of the entire district
Over 90 per cent of the stock was
represented at fhe meeting, and 1T was
unanimously voted TO rc,incorporate the
company under the laws of Nevada, and
10 increase the capitalization from 5O0,-
uUU to 1000 900 shares, of the par value
u 81 per share. This was deemed cX-
pcdicnt. owing to the fact that inc
company has recently acquired large
area Of new mining ground,-the Con-
stcllation group of claims, and tDat II
is dcsirous of prosecuting development
work on more extensive scale, and oil
pushing things generally. Though
Il majority of the additional shares III
lhc corporation will remain intact IN
the treasury, some of the stock will
he placed Oh the market and sold, III
order that, as stated, operations may
he carried on IN manner when VII!
eclipse all former development.
Au important incidental OF the meet
ire, also, was the discussion of the
bolhcrsome water question, and II was
decided that in the near future plans
shall bc cousummated which viii result
IN the effective solution Of this problem.
The adyIsability of making necessary
connections with tho Ontario tunnel TOR
the draining Of the minc was discussed,
aud the installation of q pump was
also considered If this latter method
is decided upon. tho pump Will he cleo
lrically operated. With the mine once
free of water il is felt that ne diff
Guilty will he experienced in keeping
il free, and thus tho handicap under
which operations havo heen continued
for four or five years past, VIII have
been removed.
The management of the property rea-
lizes tine uercssty of overcoming the.
water difficulty. for ii is generally con
ccded 10 bc the only thing that at the
pcrsent time stands in the way of thc
making of a mighty big producer OF
Inc Flag. While the upper levels have
furnished regular shipments for long
time past and while n vast tonnage
of GOOD milling ore has bccu blocked
out as the work has progressed II is
TO ihe lower levels that those IN posi-
tion TO know. look for the real values
of the mine. From past Developments
and Indications. NOT alone I'm the Flag,
hut from the relations other big pro
ducers bear 10 this property. there is
every reason 10 believe that work at
depth would before very long result
in rhe opening up Of immense deposits
of high grade orc. The gold values in
tho American Flag product arc unusual
for The Park City district, and have al
ready added moi little 10 the profits
of the mine : shipments.
Conservatism has ever been 4 char
acicristic trait Of the Flag manage
mcni and though comparatively little
has been said regarding IFS work, cf-
fcctive and systematic progress has
been made: the mine has been produc:
ing quite regularly. and has developed
10 such an extent that those directly
interested feel that The time has come
Ia branch oui, and TO begin operations
il the extensive manner which the con-
dition nf the propcrtv warrants.
Pnkjtes generally believe that the
Flag is gong to take lis place among
he giants Of their camp, and Judging
from recent developments. their faith
is well founded.