The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-09-21
BIC CONF PAN|ES
| FORM CONTRACT
-- 4
Five Prominent Mining Com
Germs in Park City District
in Consolidation.
THOMPSON WEST QUINCY
MAY USE DRAIN SYSTEMS
Ore Bodies in These Mines May
Now Be Mined Without
Obstacle.

Negotiations begun three years ago
were completed Tuesday with the signing
OF contract by five mining companies in
the Park City district for the forming of
a consolidated company. BY the terms
of the contract the Ontario Mining COM
pany. the Daily Mining company and the
DAILY West Mining company. in consd-
Grafton OF stock In the new consolidated
company. agree TO allow the extension or
their drainage systems to the property OF
the Thompson and West Quincy Mining
companies.
The West Quincy and the Thompson
propert les adjoin those OF the DAILY and
the DAILY West companies. The ore show
ing OF both the Thompson and the West
Qincy companies has been very good but
mining operations were hampered TO 4
great extent. BY the terms OF the
tract, which was signed Tuesday the
drifts and drainage tunnels OF the ad-
joining properties may be used by the
new consolidated company, not only for
drainage purposes, but also for the pur-
pose OF transportation OF ore and other
materials necessary i'll the conduct OF
mining operations.
Negotiations Long Continued.
The negotiations for the consolidation Of
these companies were first begun about
three years ago by the late J. D. Wood.
Since his death these negotiations have
been continued by W. r Hutchinson In
behalf of the stockholders OF the West
j. d. Wood estate for the stockholders OF
the Thompson company. Representatives
OF the five companies affected met Tues
day and agreed upon the contract which
was drawn up and signed. The stock
holders OF the consolidated company will
meet within a few days TO draft articles
and elect directors in order that the
stock may he issued and the extensive inn
provements made provided for in the con-
tract,
The contract names the Ontario Min
Ing company. the DAILY Mining canpany
and the DAILY West Mining company as
the parties OF the first part. and the
Quincy Mining company as parties OF the
second part. The West Quincy and the
Thompson companies own about 40 acres
OF mining claims adjoining the DAILY
West roperty. Under the contract these
two companies agree to consolidate their
title interests and organize a corporation
with Il capital stock of $50 900 shares
OF which the Thompson company is 10
receive 335.333 shares, and the West
share OF the stock issue of the company.
Upon the organization of the company
the Ontario is TO receive 5000 shares OF
the capital stock. the DAILY West 10000
900 shares.
Use of Workings.
The DAILY West Mining company agrees
to give the right 10 the consolidated com
pany TO all OF its entries, drifts and tun-
ncls for drainage and for the transporta-
tion OF ores and other materials neces-
sary to the mining operations. The Daily
West company reserves the right TO re,
ccive and remove any ores encountered
in its development so long as It's opera
tions do not interfere with those OF the
new company. In the event OF a desire
on the part OF the new company TO use
the hoiSts and machinery of the Daily
West company II shall pay for the eX-
pense incurred.
The DAILY West company agrees to ex-
tend at once its tunnel on the l2OO-fcot
level through the Grand Deposit mining
claim adjacent TO the new companys
the new company has the right 10 con-
tinue the extension into Its property ana
also to extend any other drift or. tunnel
entries so made for the discharge OF
water as we'll Us for the transportation
of ore.
May Extend Tunnels.
The Ontario Minins company and the
DAILY Mining company agree 10 give the
new company the right to use the Ontario
drain tunnel No. ., or any other tunnel
or drainage system, for the discharge or
water. the water To become the property
OF the Ontario and DAILY companies after
it has been discharged. The new COM
pany reserves the right to use the water
while on its property. The new company
agrees TO pay the Ontario and DAILY com
panlcs for the use of their machinery IN
hoisting the output from its property,
the right 10 extend the Ontario or any
other tunnel or drift through The prop
erlS or the new company 10 any duJdSSbI
property that may be owned by these
companies in the future. In the event
that ore is developed by these companies
In adjacent properties the new company
Is given the right In develop the veins
extending onto Its property, The new
company however, agrees not TO mine
within 100 feet OF the boundary lines or
the adjoining companies. except In tho
event OF cncountering ore through the eN-
tension OF tunnels and drifts
Tho DAILY West company agrees 10 rro-
vide dumping space on It's property Tor
the new company whenever available,
Each company is given the right TO use
the drifts and tunnels in the development
work Of the property. In the event that
one company shall abandon amy tunnel
or drift any other company which is party
TO The contract has the right 10 keep the
tunnels or drifts in repair FOR its own
use.
There is express provision In the
contract that adjacent territory shall not
be benefited by the drnlpase provisions
without the consent of the DAILY West
mol, bn