The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-08-31
ONTARIO IS To
HOLD NEE TING
Notice Issued Calling the Stock
holders Together on
October 10.
ACTION TO DEPEND
UPON DAILY RESULT
Assets of Each Company In
yoIved Is Given in Minute
Detail.

Notices are being mailed To the stock
holders of tho Ontario Silver Mining
coinpany b. President j. l.. BamberEor
OF a special meeting 90 be held In san
Francisco on October lo ct which VIII
be considered and definitely determined
the sale of all the properties and assets
OF the company 10 2 new Organization 10
Re formed under tho laws OF Nevada.
This action on the part Of Tho Ontario
company will be contingent upon the Ia
yorab bic action Of tho DAILY companys
stockholders. who are called 10 rhtfy lhc
sale Of their properties 10 sucn nc" com
panv on September 20.
The Ontario notice also calls for the
stockholders 10 take action, in case the
sale Is ratified. for the dissolution Of the
Orgdntza lion.
As in the case OF the notice 10 the Daly
shareholders. the statement sets forth
that tho new holding company Is To be
capitalized for 900. 600 shares OF stock,
par value 50 each. Of this stock 100000
shares are TO go 10 the Ontario stock
holders and 10000 shares 10 tho psiv IN
exchange for their present holdings. The
Following statement Is made in regard
10 the properties Of each company IN
VOWED:
Assets of Companies,
The Ontario silver Mining company
Summit and Wasatch counties. Utah. and
the DAILY Mining company owns Sle.o
acres in the same counties. Ihc On
tsrio Silver Mining company and Dqly
capital stock Of the Weber Coal com
psny, -sevenths Of such stock being
owne5 by the Ontario company and
three-sevenths by the DAILY company
The Weber Coal company owns tll acres
of valuable coal land at Coalville; Jtah.
about twenty-five miles from Park Guy.
This company has very large and val
uahlc tonnage OF coal developed and IS
now being operated prohtably.
Tho Park City Light. Heat Power
company supplies light and power 10 Park
city aud surrounding mining property
After paving the monthly rental on It's
power plant. which ls owned by the on
It's net earnings equally between that
company and tho DAILY company.
The Park city Waterworks company,
which is capitalized FOR 1850 shares. has
heretofore supplied Park city with wa
ter one thousand shares OF the capital
stock is owned by the ontario company
and none by the pay company The
franchise Of this company viii expire IN
August of this year.
The Silver Lake Water company,
which owns the source OF water supply
and the paly-WeSt Mining company. is
owned bv these three companies I'm equal
proportions.
Ontario Tunnel
Tho Ontario drain tunnel No. Is
owned IN tho proportion OF four,sevenths
cnihE by the DAILY company. Royalties
arc derived for the use OF this tunnel for
transportation purposes,
The Ontario drain tunnel No. is
owned equally by tho Ontario and DAILY
companies Annual rentals arc received
from tho DAILY West and Day Judge MIN
ing companies. pursuant to contract Tor
drainag, privileges through this tunnel
y contract has also been recently en-
tered into by the Ontario and Dsly COM
psnies With the Thompson -Quuincy Con-
g.slid lar r.I m hNr
latter is afforded drainage and trans
pcriatiou facilities. The Ontario COM
pany and the DAILY company own 10000
shares each OF the capital stock Of
ground adjolns the Little Bell. DAILY West
and Daly-Judgc companies. Tho 1900
foot lovel Of tho DAILY West company has
been extended TO the line Of segregation
between tho Thompson Quincy company
and the Daly West company's properties,
at which point the Thompson Quincy
company has taken up the i,urtner e.
ground. Tho property OF tho Thompson
Quincy company Is considered valuable.
The Ontario company is also the own
OF about one third OF the capital stock
OF the NsiIdrivcr Mining company. This
property is not being operated AT pres
ent. but has considerable prospective
value. Tho Daly company Is not inter
csted In the stock OF this last named
Ontario Leases,
During the pas, two years portions Of
the Ontario coiupanys property have
been leased and the company has re-
ceivcd substantial revenue aud royalties
pany TO carry on It's operations on a
much larger scale, which should afford
additional revenue 30 this company by
way OF royaltica.
The Ontario company has cash SUR
plus OF about ssl 900. The pRly company
has u cash surplus OF about $4,000