The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-24
WILL RESTORE OLD
RAWH|DE GROUPS
President King of Coalition
and Queen Talks
About Mines.
BOTH WILL MAKE GOOD
Many Economies Planned and
More Mill Capacity
Required.
BOTH WILL MAKE GOOD

+, e. w King OF Bo2eman. Mont, presi-
dent OF the Rawhide Queen companies,
was In Salt Lake City Saturday en- route
| to the north. While here Mr. King saw
several stockholders OF these companies
TO whom he explained the plans for the
future, and everyone knowing him realizes
that shareholders have pinned their
faith TO one who will be successful in
leading these companies back to a safe
and sane operating basis.
Rawhide, II Will be recalled. was
| panic born mining camp, ana II was
! made to go through one OF the most
recent history Of the west; The over
selling Of Rawhde Issues, the Tightening
OF the money market. the failure OF the
three Rawhide banks, the hrs that SWEEP
eminent raid on the Scheftels and klce
combination OF New York, were factors
anE iast the heey o. ssG in s
most every other respect
Look to MI King.
Two companies that naturally followed
the downward trend OF the camp be-
cause they were the leading propositions
Queen. and justSas surely as the camp
viii recover from the present gloom sur
rounding 1t IT will he these two companies
that will pull II out TO solid footiugs, and
ii is TO President King to whom stock
holders look and have right to look for
bringing prosperity and businesslike con-
Mr. King appreciates his position, and
while he finds it hard work TO give .up
his beautiful home at Bozcman and his
home interests to spend his time on the
[ Nevada deserts. he appreciates that more
| money sor personal comfort arc at stake,
| He wants 10 make, good with these t~o
| propositions, and he asserted. SATURDAY
With convincing click OF the jaws that
he would do so,
Nevada. he stated was coming back 10
her own, The state is building UP repu-
tatlon now far different from that OF the
early stock boom times, and such sec
tions as Goldheld, Tonopah and the Com
end. with other camps rapidly forging to
| the front, RaWhlde will make good among
other sections Of the state and It VIII
be a. happy day for thousands OF cities
looked for time is at hand
What Companies Own.
In regard to the Coalition company Mr..
The mining ground owned by this
company consists of eight claims. and
three fractions. having an area of 1867
acres. The Rawhide Queen Mines COM
pany owns three claims and two frac-
ing total of l9s4S acres. The Queen
company is also tho owner Of e5-horse,,
power gasoline engine. engine house and
blacksmith shop. a full equipment OF
drills, hammers. picks. etc. Three frame
Office buildings. ore bins. track. cars
buckets etc:
OF a milling plant equipped with ten
stamps, rock breaker, tube mill. two
6-foot amalgsm plates, one 50-horsepower,
Fairbapks Morse gasoline engines. two
large Trent agitatorg. two Dorr thickcn-
ers, one Oliver filter and all the neces-
piping. pumps elevators, complete ASSAY
office and everything necessary 10 make
complete milling plant for the ores
taken from The yd nSnnn fr aSe t5e
employees Of the company. all lighted
from DYNAMO In the mill.
for s.ooo.o shares. having a. par value
OF 81 each. over ooo.o 900 OF which are still
in the treasury Of the company. .unissued
The Coalition also Is owner ,o3 OF ever over 81 81
the Rawhide Queen company. thus giving
them fun control OF both properties.
Debts Outstanding.
"The total Indebtedness OF the two
companies Is under s2I 900, about half OF
which Is held by three OF the larger stock
holders OF the company, and will be car
ried for any reasonable time 10 enable
the companies to take II up, either by
sale Of the treasury stock OF earned out
OF the property. The greater part OF
the remaining Indebtedness is due on the
original purchase Of the milling plant and
Is being paid at the rate OF $1,000 per
month.
"Distilate for operating the mill is now
hauled by wagons hfty-four miles across
gasoline engines is costing us over $4,000
per month, and the power Is very unre-
liable, An electric power line has been
recently completed from Mono lake to
Fsiryiew and passes a little over half a
mile from our mill, The owners of this
power have made a proposition TO fur
OF $3.50 per month. which would mean a
saving TO us Of about $1,000 per month
and be much more reliable.
The Coalition company wish to install
this power as soon as possible and also
add about four teaching tanks, so that
the sands can be classified out after leav-
Teaching tanks instead OF back 10 the
tube MILL for regrinding. thereby saving
the power used In regHndjng and nearly
doubling our present capacity.
Production to Date.
"The present mill will handle from
thirty to nifty tons Of ore. per day, ac-
. cordinR to the character OF the ore. and
Is making a saving of better than 80
20 per cent before the cyanide plant was
Installed These improvements will cost
about $4,000. but will pay for them,
selves in about four months on account
of the reduced cost per ton, extra ca
; pacity and extra royalties obtained from
; the ore treated
to August s, 1911. 1885 tons OF ore, re-
covered from same. s22I. I.4le.01, being
1857 a ton. The Queen estate has pro-
snme, s2io, ,94S Al. being s3l. 10 a ton. be-
Ing a total OF .239 tons. sa3s,36o.32. or
s20.63 r. ton. Six leases are now produc-
ing ore on the properties. an average OF
which is better than $50 per ton. and
they can easily keep our mill running
steadily after It's capacity IS doubled
Mine Conditions.
I "The vein which passes through The
Phoenix and former Prosky and Victor
8 Leases, all Of which ground is now under
E lease to the Phoenix company. IS i'm
: proving with depth This vein has been
opened UP over 300 feet In length and at
y various depths from $50 TO 325 feet. A
: drift is being run on tho ore from 2I5
2 feet level OF the Phoenix shaft and is now
y out into the old Prosky ground. and the
n ore from this drift Is averaging about
= $50 per ton. This drift will be pushed
i on clear through the Prosky and Victor
grouud. The Phoenix COMPANY also in