The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-14
REPORT Of WHITE
CAPS IS ISSUED
Manhattan Property Gives a
Good Account of Itself
to Stockholders.
STOCK POOL DISSOLVED
Lease Operations Show Ore
Averaging Forty Dollars
Gold Per Ton.
STOCK POOL DISSOLVED

Secretary Nash Of the Dexter White
Caps Mining company of Manhattan has
forwarded a statement TO stockholders
informing them that the pool OF stock
has been dissolved by the unanimous
consent OF the directors and that all who
are entitled to their stock can receive
II on and after November 80. Accom- :
panying this Is a statement OF c0fnpens
and property conditions that VIII provo
of interest TO all concerned;
IL is considered advisable at tnc pres
ent time that YOU be informed as TO the
present conditions OF the company. botn
from n stock standpoint and as TO 'he
The company is incorporated under
the laws of South Dakota with capitai
stock of 100000 shares par Na,uc 81 81
treasury stock was 100000 shares, oi
this amount. 77.+73 shares have been
paid to the Manhattan Dexter Mining
company In settlement for moneys ad-
vanced by the Dexter company Tor pat
ent work. obtaining patent, taxes. South
Dakota domiciliary fees. etc. This set
tlement was made AT the rate OF 10 cents
per share. The only other amount taken
from the treasury was $50 shares. sold
in 1905 so that the company now has
ury of the company also contains about
$500 the exact figures not being OBJ
tainable until the present mill run OF the
company lessecs is completed and settle7
mcnt made.
Mine Production.
The ore production from the company
property. mined and milled by lessees, Is
I'D 10 date, Including the present milling
1914 tons OF orc OF a total value OF SiS,
ESQ, The milling loss and all charges in
The net amount to the lessee and com
pany to s2S.000 the company ROYALTY
being $4,000. These figures are approx
mate. for the. reason stated above
Itn ICES hSf m hc
body Is down 10 feet, two levels run.
and connections made and some stopping
done. The average value OF the orc ex-
iracted and mlllcd is $40 per ton. While
The ore Is Of base character. the e%-
traction by the mills has been satisfac-
Tory although the costs of treatment
IL the ores were OF free gold content
y complete up-to-date milling plant and
orr sampler is now in course OF construc-
tion within 1900 feet OF the property: so
that In the future the costs OF milling
per ton OF orc from the White Caps
should be materially reduced
Details Of Lease
The lessecs operating OH the company
estate have complete electric hoist
Ing plant, large air compressor, sinking
They have from fifteen To twenty men
on their payroll and arc doing good min
Ing. }
Tie lease. as granted by the company,
calls for total depth OF 600 feet TO be
made in the lessces' working shaft at
tho rate Of nifty feet for each quarter.
This shaft AT the expiration OF the lease
will be an asset TO the company of at
least $4,000, as IL would cost that amount
10 sink and timber a working shaft TO
that depth
Three hundred feet distant from the
present lease workings an orc body
Identical in size and character has been
opened up. partly by the company and
partly by lcssccs, This ore body has an
incline shaft sunk on it TO a depth OF
12o feet. with two levels run. and shows
very large tonnage of orc probably l0,-
600 tons In sight, with values averaging
from sS to $l3 per ton. When the time
OF cheap milling reaches Manhattan this
ore body viii bring lucrative returns 10
it's owners.
Should further information regarding
the company he desired BY any OF It's
stockholders the secretary will be glad
a. any time To answer correspondence,