davidaulloa/AmericanStories huggingface dataset:
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
White Pine Development.

This map shows the White Pine work.
lngs upon the Daly-JuGge property also,
from which many years ago consider
able ore was taken. An interesting &C
count OF the early productivity OF this
White Pine section has been made
part Of the United States geological sur
vey publication on the Park City dis
trict, which WIS issued by the govern
ment last year. From the 500 level on
down the Daly-Judge company is driv-
Ing 10 the southwest TO get under these
early workings, TO demonstrate the con-
1inuation OF the ore bodies with depth
The 500 level Will give 400 feet OF YER
teal depth from the bottom Of the White
Pine shaft. This work Is important and
a large extent OF virgin country Will be
explored
Since the close Of the year develop
inent work on the 1900 and 2300 levels
has been vigorously going on.
At the present time the face OF the
Snake Creek drain tunnel Is 5700 feet
from the portal and the water flow is
e3o0 SALONS per minute. There is now
available I'm this tunnel a sufficient
water supply, were the proper equipment
installed. TO generate enough power for
operating the tunnel and the whole DAILY
Judge property. / feel safe In stating
that more than double this volume of
water will be developed before the tun-
mel is completed. hence It is evident that
IN It's Snake Creek interests, IN this
water and power alone. the DalyJudge
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
BIG EIGHT MINE IS
IN FEDERAL HANDS
Another Deal Is Rounded Out
in Idaho Calling for Sub
stantial Sum.

WALLACE, Ida, March S.-What is
believed to be another move in the
Federal Mining company campaign
for the acquisition of new properties,
is the purchase by Harry l.. Day, presl-
dent and general manager Of the Fed.
cral, Of the Big Eight group OF mines,
consisting Of three claims near Troy,
Mont However, il has not been det-
nitely learned whether the properties
were purchased by Mr.. Day for him,
self, or by him representing the Federal
company. The price paid was 500. 200,
the sale being based on D cents a share
for the issued capitalization of 900; 200.
The Big Eight group was owned by
the Greenough interests, j. ID. Finley,
Edward McCaifrey and other Spokane
men, who recently secured control OF
tho property through the purchase OF
an extensive block Of stock, and it IS
reported they cleared $4,000 on the
deal. In view of the extensive pur-
chases that have been made by tho Fed
eral company in the last few months,
this deal is believed to have been
made in the interest of the company.
An option calling for $l25,000 for
the control of the Snowshoe property, IN
the Mullan section, is being negotiated
for, according to circular letter adj
dressed to stock holders by the secre-
tary OF the company. The prospective
buyers ask for short time option on
all outstanding stock at 1919 cents per
share They agree to pay either the
full amount in cash within ninety days
from March ], or return stock at tho ex-
piration Of that period. Should the
company levy m assessment between
that date and June /, the parties seek
ing the option have agreed to pay such
assessment on any stock that has been
optioned to them
The Snowshoe is favorably situated
with reference to the copper bearing
belt penetrated in the Snowstorm and
the National, and has been opened to
great depth by tunnels and other work:
ings. 1t is reported that conditions OF
strong promise have been revealed
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
MINES PLAY BIG
PART IN REFORMS
Movement to Retard Swollen
Capitalization Will Be
Felt Out West.

Despite the optimistic opinions ex-
nressed by many who believe that pros
perlty generally Is on the way Tor oil IN
dustrial concerns, there ARE many VINO
hold to the conviction that we are lacihg
u. complete reorganization OF business
conduct and that this includes mines ana
mining as well as railroads and Indus
trial corporations a Salt Lake citizen
recently In the east made the following
statement on Saturday;
"The country Is coming to the point
where the assets Of any concern incor-
porated must be the measure OF capl-
talization. and water is going to be kept
out Of new concerns just as the reformer
Is going 10 squeeze 1t from those already
In existence. The problem of correcting
existing overcapitalIzatlon sins Is a 81
gantic one, and one needing the wisdom
Of a Solomon for in far too many In
stances watered stock representing no
value whatever is In tho hands OF inno-
cent purchasers, The public, and not ir
the hands of the interests which launched
the same
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
Public Owns Control.

at Is well known throughout the east
that when an annual or special stock
holders meeting Is to be held by any
average big corporation. 1t too frequently
Is the case that the big people In the
company do not own the control: they
do not have sufficient stock in their pos
session to enable them to hold their jobs.
They simply have TO hustle around and
beg or demand proxies from all sources.
usually securing hundreds Of thousands
Of shares OF stock by proxy from broker
age firms holding their customers shares
in their firm names,
"Watered stock. theoretically, Is the
measure OF prospective asset values. A
concern with assets valued at $780, 900,
for the sake OF Illustration, capitalzes
for double this sum In the expectation
Of expanding its business. But when a
concern worth few thousand dollars
capitalizes for a million. or where assets
several millions, this too often Is solely
for speculation purposes. assuring an
endless quantity Of stock whereby the in
slders may manipulate the Issue as they
see flt and always for their own profit
ITO bring the matter nearer home. Just
take into consideration the many thou
sands OF mining companies organized
70 merely sell their stock upon the pub
lie, and the very few OF these which have
made good IN a legitimate way. 1t was
the fashion to buy OF bond q rank pros
pect for a few hundred OF a few thou
sand dollars, capitalize II for q million
or more shares with par value OF any
share. This is nothing but high finance
on more modest scale, but 1t hurt the
same man that was hurt by the big east
ern promotions, and that man Is the in
vesting public.
Should the capitalization and promo
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
UTAH CAPITAL MS
EYE ON ROCRE|
E. w. Grifiths Saw
Lake Money Is Vain.
Little Investmen,

z. w Grfflths Of Salt rax. !.
nently identified with tho mIs,
the Rochester district Of Ss,ss
is being given considerable -
Nevada papers, Mr.. Grif0,s'
years has been as farnIll., = =
Nevada as In Utah ninine
q pioneer OF the GoldfieIS naHl
districts, Here is an Interv,eA "a
In q Nevada paper after An u
that confuses Griffit!ls with ~. .al1
age firms and the stock sycb.
"They are all awaiting rs
Lake for Developments on M e !.
and am quite sure ~
amount OF capital will be ,u,@s ~
the Codd tunnel exposes vha,
II VIII. Over in my town iSsI
much interested In Rochestsr |
now quite confident thar
Salt Lake capital viii be invss,.,
"The camp can almost be- ssIS
passed its experimental sias.
snowings on Nenzel peak ara !.
be almost proof enough Of 4 =
camp" ~
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
MORNING SALES.

MORNING SALES.
East T!ntic Development. 1000 at lie.
Gold Chain. 500 at d0c
Iron Blossom. 100 at Sii2t
King William, 500 at &c
May Day. 1000 d lic: 500 at 13lc
Prince Consolidated, 300 at &c; 500 = :
iSc.
Seven Troughs. 200 at &c.
Silver King Consolidated, lsI at 75c
Victor Consolidated. 500 at &c.
OPEN BOARD.
Lehl TintIc. 1000 at i3c
May Dag. 900 at lfc: 5025 at 1Sic.
Ohio Copper 200 ut 7Sc
Prince Consolidated. 400 at GSc.
Silver King Coalition. 300 S3l5.
Tint!c Central, 2000 at ic.
Utah Consolidated. 1900 at lac.
TOTALS.
Regular call. 651s6 shares, sl5s7.so
Open board, l0,I95 shares. s2I91 60
Total sales. l7,243l shares. S3T19,i2
WEEKS TOTALS.
Shares, 1885.
Value S25,267.1T
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
DAILY Vein Work.

DAILY vein. 800 level-This level was
started early in the year at point In
shaft midway between the 100 and 700
levels. Tho station was completed and
1901 raise. While this work was pro-
crossing a raise was pushed up from No.
1104 stope. drift begun on the 900 level
and raise put up over 100 feet above
essary to abandon the work on account
of large Inflow Of water In tho top
Of the raise there is a nice showing Of
ore. which will be mined later
crosscut from the shaft drifting was be-
gun along the vein and shoot Of ore Of
about seventy-flve feet WAS passed
through immedissely east east Of connection
continued to the southwest and stopping
was begun on the ore, which occurs in
punches running well in copper and sill
yer, The ground, although dry. is ex-
five cars were mined, mostly In Novem-
Der and December. One thousand three
hundred and lfty-three and ive-tenths
were done In addition to cutting the
shaft station.
II is safe to say that there is a large
tonnage OF ore between this level and
to measure with any degree Of accu-
DAILY vein. 100 ievel-Three hundred
seventy five feet OF drifting and 46 feet
drift was driven to point over No,
1907 stope, 20 feet OF ore has been cut
through from foot to hanging walls, but
the full extent OF the ore along the vein
fully justified In expecting good body
Of ore above this level.
Slopes Nos. HOP and 1104 yielded e63S
cars OF milling and 81 cars of shipping
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
ton ends of organizations b

ton ends of organizations bs n,
tention as threatened, and n;
proposed restrictions country.visI
as feared by many. SO that IN m
capitalization will balance acttsI,I
assets. II will come nearer ps5
death blow to mining than anJi2
for the legitimate will suffer :
evil. Mining is too often ths =
OF the other fellows money d.
stock end Of the game. and d,
stock game and you will stop u /
OF 1t.
at looks like the old system b|
and there Is little to create ~
that anything to take its plso1
invented soon, They say mlsls
safe and sane as any enteYr4
conducted on business princfra
may be true, but II is true h4
is the spec,llator who help
mines. not always the irvesta,
move from action this speculatu
est and you will be forced to d Y
with the cold blooded. calcuhu<
ness man who sees safe lntsroS
industrial investments. but sl6|
see my farther into the GROUND
next fellow
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
COPPER OUTLOOK is
VERY MUCH BETTER

James A. Pollock & Co.. bankers and
brokers, furnish the following received
over their private wire yesterday after
noon:
Paine. Webber & Co., Boston.-Mar-
kets today were active and weak as the
result of continued strength In money
rates here and abroad and fear OF gold
exports from this side next week. The
improved sentiment which developed
early in the week has disappeared, and
IL VIII take very favorable developments
10 restore IL again.
The situation in the copper metal mar
ket has improved wonderfully in the past
ten days and most of the big companies
have made exceptionally large sales and
better prices and are comfortably sold
up. Calumet & Hecla has raised In price
10 l5lc. On any further break Monday,
would buy coppers
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
company has an extremely valuable as

company has an extremely valuable as
set.
The company faces the new year with
every prospect for substantial results.
present condition OF the mine and mill
and of the operations during the past
year,
vein-Worl5 of reopening the old caved
drift on this level was begun in May,
new drift was started In the foot
wall and advanced sos feet. or total
distance OF ITO feet.
A small stope about 900 feet west
of the shaft was worked as prospect
1t produced b95 cars Of ore.
as No. 7of has been worked continu
feet west of the shaft and to an eleva
ton above the GOO level. 1t yielded dur
Ing the year 11.03T cars Of milling and
81 cars OF shipping ore. Connection
with No, 7o7 stope. This ore is being
put UP east of the shaft TO develop the
ore at that point. II is not unreason-
able to expect q further run OF stopping
about ESQ feet long: 1905 feet. of drift
Ing was done on the 500 level.
The ore found at the beginning Of 1912
known as slopes Nos. 7os and fos. The
total length OF STOPPING is about $50 feet
the ore In places reaching a height OF
more than 100 feet above the level and
varying from three to ten feet In thick
ness; 1929 cars OF milling ore and 101
cars OF shipping ore were extracted from
these slopes.
Thirteen hundred and eighty-nine and
nye-tenths feet of drifting and 246.
feet OF raising were done on this level
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
PRICES ARE FIRM
ON LOCAL 'CHANGE

The most satisfactory feature Of the
end was the tenaclty with which the
various feature Issues held to the firm.
er levels reached during the fore part OF
Copper and Iron Blossom are the es-
pecial attractions, with demand good and
stocks very hard to secure.
The Saturday morning sales totaled
II 2i31 shares Of stock, the market value
of which was $3.712.i2, brining the sales
for the week to 1883 shares OF stock,
with a value OF S25, 5,267.l7, The follow
ing were the closing rransa ctions.
UNLISTED STOCKS.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
Production of Year.

The unexplored portion Of the mine is
unquestionaoly promising. and with the
knowledge gained during each year in
It's development a continuation OF the
contract system OF development Will
open UP the resources OF the property
with the least delays.
Production last year totaled e2,eo6
tons OF ore, the net value of which was
2S.3S1.36. as against 59.a61 tons. val
ued at sS7T, ,04o.74. for 1911 The com,
pany closes the year with a surplus OF
s524S70 o5 on hand. after the payment
OF S225, 900, 600 In dividends.
As forecast In the last annual report
the company has enjoyed a much better
income from its zinc middlings than
heretofore. receiving for the same in 1912
an average Of s27.2s per ton, against
s10.s3 during tho preceding year. TINS
was due 10 the increased market value
Of spelter TO improved methods of con-
centration and To the favorable terms
Of the contract under which this product
is marketed
In directing your attention to the In
closed report OF the general superin-
tendent. / desire to urge reference TO
the map which is made part OF this re-
port, showing vertical projection OF the
mine along the DAILY assure, with It's va
rious workings duly named. whereby tine
operations OF the company can better be
understood
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
Old Mill Was Burned.

1t is estimated that under the pro-
posed arrangement the Florence could
successfully treat at least 500 tons of
ore monthly in this mill, and that this
would soon reimburse tho JUMBO Elk.
tension company without materially
affecting its own production OF con.
centrate. Under this plan the only adj
ditional installation necessary would be
partition IN the main storage bin TO
keep separate the product of the two
mines. the capacity Of the crusher be.
ing ample to handle all ore that can
be fed to the twenty stamps.
1t has been intimated that in the
event Of the present sampliug showing
the presence of sufficient ore to Justify
such action the Florence company may
erect another mill to replace the highly
unsatisfactory. patchwork plant that
was destroyed by fire in December.
1911. In any case, however. it now
seems probable that the company will
avail itself of the opoortunity afforded
its broken or blocked ore reserves by
sending this product TO the Jumbo Ex.
tension company's mill
The greater part of the Florence
mine workings are said 10 be in good
condition and dead work has progressed
to the noint where DEVELOPMENT and the
thorough exploration of the property
can be conducted advantageously The
main shaft has been sunk to a depth Of
1870 feet and completely timbered.
while large station, that is designed
to be the central point from which the
deep development will be carried on.
has been completed at the 1200,foot
level.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
CHIEF CON. DRIVER
TO THE WATER !

According to the Eureka Rs.<
Chief Consolidated COMPANY ~
entered the water zone In t. -.
depth OF 1915 feet. The cornns,v =
a station a little above the iSS,'
begin drifting to zap the larrs A.
already demonstrates on sss.r,
levels, and which give every -.
going to depth for an inde6nIfs :
The management hopes vl
month to maintain regular ss,,-7
five cars OF ore daily, four H.
average at present, The mIss +
duce practically any tonuars i
or which can be handled by nv
single compartment shaft. "
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
Park City Ore,

PARK CITY, March S-Ore shipments
for the week. In pounds. were as fol-
lows; Silver King. Si.6o2.6il. DAILY West,
Ss5, 900: Daiy-Judge. I5S, 900; Ontario Sill
yer Mining company, 10000; total, a.
26e.5i1. This morning the cable from the
Silver King Coalition mine to the load :
buckets fell off between the Queen tower
and the top of the hill.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
Mill Operations.

During the year one Whitley table, one
Multldeck Wilney sinner, two CalloW
tanks. one Richards -Janney classifler
and one new Jig have been added to the
equipment of the mill. which resulted In
a closer saving and a better separation
of lead from zinc. Two new tanks and
one old one have been installed at the
head Of the mill, giving a storage ca
pacity of 115, 900 gallons OF water.
The mill has been kept in good repair
and treated 6s,951 tons Of Orc dry
weight, from which 13.41o tons Of lead
concentrates and 1900 tons Of zinc mid
dlings were made. There were concen-
trated "A tons of crude ore into one ton
Of lead concentrates, and all products
combined 3.4 tons Into one.
Reserve ore bodies exist on the 500. 800
and 1100-foot levels. There are some
reserves In No. 1918 stope and the ore
may extend indefinitely to the northeast.
With the rapid rate at which develop
ment Is now being prosecuted, moro new
ore bodies may be expected to be opened
during 1918,
The following financial statement and
details OF ore sales is included in the re-
ports
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
Middle and Back Veins.

Middle vein. 1900 leveI-Five hundred
four and fiye-tenths feet Of drifting was vas
OF the year. For most OF this distance
the vein is strong and well defined,
showing streak OF ore in some places
posits south of the Back vein and In the
eastern part Of the property known as
stope No. 1918 produced 1s.sos cars of
ping ore Five hundred thirty-two feet
OF crosscutting. 2o6,5 feet OF drifts and
IT feet OF raises were done to facilitate
extraction OF the ore.
Bonanza nat country. 1865 feet OF
drifting and A5S.s feet of raising were
done Some punches Of ore were found.
but not In commercial quantities.
The ore body along the contact. which
was SO productive in 1911, has been ex-
hausted. but upon further development
bnS h c0nt wo hGpa Ss osr on
four cars were mined during the carly
part of the year.
DAILY vein. 14oo level-A DRIFT was run
tsGI" eastery S0. along i the Vein 70 explore the
was put up 81 feet Only a small amount
of ore was discovered,
At the southwest end OF this level. at
end of drift on middle vein, orosscut
was started early In the year towards
the DAILY vein, which was intersected and
s56o feet from the shaft. From this
point a drift was driven in the footwall
of the vein for distance Of $50 B feet.
Total distance driven In crosscuts and
drifts was 1885 feet.
Eight hundred twenty-eight feet OF
ditch was constructed besides the laying
of 3748 feet OF new track.
Two hundred forty-flve feet Of drift
ing was done, and 100 cars OF ore We're
mined In miscellaneous places Total
amount OF prospecting and exploratory
work during the year 9TS4 feet. Total
production 58.951 tons milling ore and
6l3S tons shipping ore.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
EUREKA HILL LEASE
SHIPMENTS BEGIN

The first consignment Of silver and
lead ore from the Clark -Christopherson
lease on the famous old Eureka Hill
property Of Tintic has been started on
It's way 10 the local smelters. This In
itial lot consists OF 100 tons of ore which
should average close to $50 per ton. An
other shipment has been brought 10 the
surface, and reports from Tin,ic are that
u looks like pay day for these energetic
Ieasers.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
WEST END BULLION
COMING TO MARKET

Bullion bars, Weighing an even ton,
were shipped yesterday by the West End
TO the Scloy smeter. The bars we've
twenty-one In number and were the re-
suit OF the bi-monthly cleanup for the
Iast half OF February. The estimated
value OF the shipment IS between S25. 600
and $50. o.o00.-Tonopnh Bonanza
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
Mines and Mnng--Activites in Ore Districts OF UT

ore These slopes have been worked out
below the 900 level
DAILY vein. 1900 Ievel-All the ore has
been exhausted below No. 1903 stope. a
winze was sunk to depth of 6s feet be.
low the level; tho ore failed at about 90
feet Two thousand four hundred
ninety-f four cars OF milling and 19S cars
of shipping ore were mined from this
place
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
DALY-JUDGE HAS
j ISSUED A REPORT
Regular Annual Statement Is
Mailed Showing Fine Year
+ Was Enjoyed.

The annual report Of the Daly-Judee
Mining company was mailed to share
holders on Saturday. and 1t shows that
this organization has just closed one of
the happiest years of It's history, Des-
pite large development expenses and in
creased dividends, the company has
added to its surplus, while the mine is
in nrst-class condition throughout.
General Manager George W. Lam
bourne reports as follows;
In presenting this, my annual report as
manager of this corporation. I wish to
congratulate you on the improved show
ing over that of 1911, in increased pro-
ductiou and earnings and the decrease IN
development expenses, in spite OF the
fact that the new work accomplished
ranks with the most extensive In the
hlstor OF the company
Total development work amounted to
o7s4 feet, OF which 1909 feet were driven
during the last three months OF the
year Since September 1, 1912. syste-
matte exploration has been largely In
creased under the contract system. by
which approximately double the footage
is driven in a given time. with no
greater cost per foot than has been the
case heretofore.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-03-09
Metal Mark et

The ore and bullion report for Satur-
dav. given by Mccormick &, Co., was as
follows. Ore received, s'oS. 900; bullion
shipped. $4,000, total. $25S 600.