Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-12-13
ARE COMPLETING PLANS
FOR P|OCHE MERGER.
New Concern Will be Known as Anal
gamatcd Phoebe Mines ana Snch-
seta crs Corporation. u Maine Co.

According to reports coming from the
east, the big merger of Pioche proper
ties Is nearing completion and an m
corporation will be made shortly under
the name OF the Amalgamated Pioche
Mines & Shelters Corporations. mis-
will be n Maine. corporation with a
capitalization of slO,00o.000, with shares
at $40 each No announcement Is MADE
as to the basis of consolidation OF inc
big Phoebe properties.
The properties that will go into the
deal are the Prince Consolidated mine
and the tailings dumps at Bullionviiie
and Dry valley, which alone are de-
clared to have II value OF over Sl.ooo.
coo, the holdings of the Oho-kcntucky
Mining company. owning valuable
claims on the Yuba dixie or Black
Ledge, the Susan Buster mine and the
phoebe water supply, the holdings OF
the Consolidated Phoebe company
which Is n consolidation of the ohio-
Kentucky and the Nevada Titan mold
ings close to Phoebe and along the ram
Gus Black ledge, and all the Nevada
holdings of the Nevada utah COMPANY,
including the Day ana ohohuhso
mines.
The Nevada Utah also owns q num-
her of valuable properties in Titan, IN
Guiding the famous old Last Chance
property in Bingham. the Imperial
group in Beaver county and the Comet
claim near Newhouse. The Utah prop
critics will probably be disposed OF and
the new concern made n big holding
company for the best of the Pioche
mines
ALL PAYMENTS MADE.
II is understood that thus far the
company has proceeded according to
schedule and all payments and other
arrangements have been taken care or.
1t is understood that the articles OF
incorporation will be filed TINS week
and ut that time the basis of consollda-
tion will he announced. 1t is under
stood that thus far only the properties
mentioned vii. be in the merger al
though there is plenty Of reason to be-
leyc that at least two others Will be
brought In later.
The eastern report has it that the
100000 for development work has been
raised and Is In the treasury rms IL
IL said was done by means of bonds.
AS soon as the organization end is un-
dor way it is declared that work will
be started IN Phoebe on the improve
ments necessary These will include
the building OF a railroad around the
point of the mountain from Phoebe sta
ton to tho Prince Consolidated mine, n
distance of eight and quarter miles.
the erection OF 500-ton concentration
on the Ohio Kentucky ground close to
Phoebe and later the building of a con-
ccntrator at the Prince mine. Az plans
for these improvements have long been
prepared by the Godbe brothers. there
will be no delay in putting the plans
into effect.
AT NO. 1 SHAFT
The No shaft on the Consolidated
Phoebe property has reached depth or
+ /. $50 feet where IL crosscut Is being made
to get into the famous Black Ledge,
where It is opened up on the l.20O-foot
level by the old Raymond & Ed work
: ings.
The Black Ledge Is u suiphide con-
tanning gaIena and II zinc blende that
makes an excellent lead and zinc
product by n number of water concen-
tration processes. any one of which will
work successfully. according to eS-
+, rcriments that have been made.
The president OF the company has not
been decided upon 1t is said, nor has
the directorate boon fully decided. It
Is probable that Ernest r. Wooley of
Salt Lake, will be president of the
company and that the directorate will
contain some of the best known mining
+ men In the United States.