The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-09-30
SOON TO START ON
PARK CITY Merger
0aly-WeSt to Take Over the
Daily and Ontario
Companies.

tAAAHNA AANW AANMI NNNNIALINN uNNINffl-
mary steps IN the Park City. Utah.
merger or silver properties viii be
taken. and II sufficient stock in the
DAILY and Ontario Mining companies
favors. these two companies will be
merged into the DAILY West Mining
company. In event OF. the merger.
which has been under contemplation
Tor several years. the Daly-West COM
pany. according to the Boston News
Bureau. viii cncr its stock IN exchange
FOR shares or the other companies
The three companies are capitalized
as follows:
Company. Capital Par
Daiy-West .... .....S2.60O. 900 $40
DAILY Mining -...-..- 100000 20
Ontario .-.--... ....15.O0O.00O 100
The ontario property has the best
record as O dividend-payer. having
disbursed TO stockholders from the
time Of organization Up To the end Of
1909. when dividends ceased. a total
Of S14.932.50O. an amount nearly.
equal To- the entire capital stock. DAILY
West has TO its credit payments ap-
proximating $1,000. 600. The proper
ties Of the three companies adioin and
Tho drain tunnel. owned Jointly by
the ontario and DAILY companies. IS
tributary 90 them all and joint oper-
ations could be effected at a saving
from present costs.
Ore Tonnage Increased.
Daly-Wcst directors at n recent
meeting decided 90 pass the dividend
Que az this time. and also voted to dis
continue active mining and produc-
tiou. This course was taken as re-
suit Of tho arrangements decision to
build mp the COmpany's ore tonnage.
which az the moment is between 100.-
600 and 100000 tons proven between
the 1900 and 100 levels.
The key 20 the entire camp is the
Ontario drain tunnel. which several
years ago caved On. but has since been
opened up az a cost Of 100000. paid
by the joint owners--D DAILY and on
tarfo companies. Daiy-Wcst has a
contract for use Of the tunnel. and
another contract has recently been en-
tered into with the Da;y-Judge Min
ing company. adjoining Daly-West-
and the tunnel is now being extended
% that property. Mines Of the Daily
and ontario companies have not been
operated since the cave-in except. I'm
the case Of the latter. by ieasers who
have added a little income 20 the on
tario treasury
Good Ore Located.
ualy-Wcst has been treating 10000
tons of ore month at its mill located
near the mouth 81 the shaft All ore
level and cost Of hosting has become
greater Shaft Inns been lowered to
tue 2.100-foot or tunnel level. and
drifts have been driven az both the
100 and 900 levels where good ore
bodies have been located. The log
ical location FOR the mill is at the
mouth 81 the Ontario tunnel. but be
fore tho management decides 10 re-
move SIS mill there 40 has decided 70
do development work ira order that a
greater tonnage may be Indicated.
Were the mill location changed II
would DE- increased I'm capacity 90 IS
600 tons n month and the present
tonnage OF 200. 600 tons or less Is not
sufficient Tor plant Of that size.
Economical Operation.
The three companies under mer-
rrr could be economically operated
and the management. which Is idenu-
cal iu the three companies. has fig
ured out a saving OF s. per ton in
mining and milling costs were the
Ontario tunnel used and the ore. in
stead or being hoistcd. were dropped
% the bottom OF the shaft.
From the Ontario property there
has been extracted about 32.000.000
gross values. all from points west oi
the shaft. Development work has
been started 10 tho east. where fault
fn former years caused cessation of
operations. and there Is every indica-
Zion that the good values extend O.
both sides Of the shaft