The Salt Lake tribune. [volume], December 29, 1907, Page 36, Image 36

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; , .36 , THE SALT LAKE TRIBUNE, SOTDAY MOBNINGr, DECEMBER 29, 1907. j
I " Business of Salt Lake Stock and Mining Exchange for 1907 1 .
. By WILLIAM H. TIBBALS J j
I Tho Salt Lake Stock. and Mining ox
jliaugo has tho reputation as one of
' tno best and most important mining
I exchange in tho country. Tho rceoi-vl
i rtf the transactions for the present year
i lias been ono of considerable fluctua-
R lions. The condition of tho market at
f- tho present time, as compared with tho
j business in tho middle of tho year and
ji '-tft tho beginning of the your, will fur-
'oisk Borao important lessons. In many
rcspocts this has been a very rcmarka-
11 .bio year, and when the figures are to-
i ' tnlod they will show that it has perhaps
j '. been tho greatest year in tho history
' .of tho exchange, They will certain-
I show that the average prices paid for
i tho stocks have been greater than for
s 'any provious year. Tho total number of
'; Shares sold for the first clcvon months
!' ' was 15,962,178. Tho valuo of these ;
v shares was $13,1GG,-MG, making the aver-
jf . rge prices per share over SO por cent.
!r , . An examination of the records inado"
I !jn tho exchange during tho year will
J ghow tho fluctuations. Tho examination
If, will alfio show that thero have been
h many opportunities for making small
fortunes on Investments in local stocks.
J ' In many cases tho climax was reached
ft during tho middle of tho summer. Sinco
r then tho drop has been remarkable,
ft Tho boom of tho present year has
ti j been somewhat different from than of
vj . 1901. At that time ninny of the stocks
If , fisted on tho exchange were very low
IB ; in price, and tho properties had little
J; value. The stocks and properties have
L ' leng since been forgotten. During the
' present year there has been a very
great advance in some of the higher
jj ' .priced stocks.
; t Tho histoo of several of tho most
i active stocks is interesting. A few
j 1 'years ago- La Reino stock was selling
f , at a fraction of a cent per share; three
, j , .years ago it was selling at 2c )cr
I ahare. The highest point reached dur-
: ing the present year was $2.90, when
l Beck Tunnel, the successor of tho La
r Reine, touched this point in July Inst,
j: . A little moro than a year aco Colorado
j' "Mining was selling at Joe per share; it
, touched $8.15 in July.
1 Interesting Pigurcs.
1 1 1 Table No. I furnishes some valuable
j 1 information showing tho sale of stocks
, up to and including December J4 of tho
v present year, The rango of prices are
shown by giving the bid and asked
j prieo for January 3, 1906; January 3,
Y J907, and December 1G, 1907. Tho high
h " and low since the first of Juno up to
K 'the first of December, is also shown.
n It will bo observed that tho climax
A was reached in many eases in July,
j j Thero are a few exceptions. In tho
case of Alice, Columbus Con., Daly
Judge, Daly West and Little Bell, much
highor figures prevailed early in the
year. Alien sold above .$(5, Columbus
Con. at $0, Daly Judge, above $12, Daly
West abovo $20, and Little Bell about
$15. In the caso of Bingham Con., Bos
ton Con., Newhousc, United States
Smelting, Utah Con., and Utah Cop
per, tho figures arc takeu from thn rec
ords of tho Boston and New York ex
changes, whero thoso stocks aro traded
in. Ohio Copper is given becnuso it
has boon qui to active on tho open board
of our own exchange, and this has been
tho principal market for it.
Tho columns showing I ho sales for
tho year indicate clearly which stocks
have been the active ones. H will ho
nolicojl that very few shares of Daly
West havo been sold. There arc several
others which havo been almost inac
tive, whilo others havo been so active
that tho cnpital stock has been sold ouoo
or twice during tho year.
The stocks during the early part of
.tho year were strong, and steadily ad
vanced as prices of metals advanced
and as dividends wcro posted and in
creased. During the last part of the
year tho declino in many ensos was
somewhat strong and very marked. The
stocks of this exchange are not alone
in this respect. The drop was due to
the falling prices of tho varjous metals
and the great money stringency, which
came on during tho nnrlj' part of tho
last quarter. As in many cases during
tho year, the stocks were selling at
prices considerably above their real
worth, so now many of thorn are sell
ing at prices below i.hoir intrinsic val
ue. It is not difficult to pick out the
slocks which are soiling at below their
worth. The interest rate paid on somo
of these stocks is very high. Tho rate
paid by Uncle Sam this year is 15 por
cent. If it should continue tho rate
regularly for a 3ear, the whole would
bo moro than 72 per cent on (he present
market price. Colorado Mining is pay
ing about 3 per cent, May Da- 1 per
cent. Grand Central nearly 2 per cent,
and other mines from L to -1 por cent
monthly interest.
Comparative Sales Shown.
In table No. 2 the figures show com
parative sales for the first cloven month
parativo sales for the first eleven
months of the past thrco years. This
table is very interesting in its compari
sons, and shows that the average valuo
per share has been very much higher
during the present year than any pre
vious year in the history of tho ex
change. Tho total number of shares
sold in 1903 was groatcr than an3f other
Table Ho. 1.
iO o
January 3. January 3. December 16, oE Juno 1 to
NAMES OF MINES. f . 1D0G. 1007. ' 1907. .tj November 30
I ; i P
. - w
I Hid: AhI7c7iT n"lcTked. Bld"7"lA8ltcd. II HlghJJLo
A.lnx 5 ,:i0 ? .:n? .sTTf .25 $ .30 144,4581"$ .40 ? .20
Alice 2,20. a. 75 G.25 7.25 2.50 2,000
Bock Tunnel Consolidated fit .05 .1772. 1 .SO .53 .54 1,193.033 2.00 .4R
Bingham Consolidated 35.75 3C.75 33.G2J 34.00 4.00 4.25 07.705 37.00 4.o74
Black Jack .74 .70 .24 .25 381,240 04 Jr.
Boston Consolidated 31. CO 32.50 33.00 33.50 10.00 10.50 572,107 33.50 8.G2i
Bullet- Liberal 0S1 .102 10 .02 .10 G5.S24
Bullion Beck 1.00 1.50 1.00 2.50 1.00 1.60 2,500 ....
Cnrlsa 201 .23 .G7 .GO .20 .25 SP.700 .54 .23
Cenlurv 02j .10 .5G .GO 12 18.505 .50 .07
Colorado 1.371 1 .1 0 2.20 2.22J 407.070 8.15 2.00
Columbus Consolidated 4.45 4.50 5.75 G.OO 1.85 2.00 103.G07 5.50 1.7o
Consolidated Morcur GO .62 .40 .47 .20 .25 5.200 .15 .2..
Crown Point. 12 .125 1.220.3G8 1.471 .19
, Daly 1. 00 1.30 2.40 2.75 1.35 18.773 2.00 1.25
Daly Judge . 7.50 7.75 11.S7J 12.12! 4.00 4.15 41.0G0 7.00 3.90
Daly West ; 1G.25 18.25 18.50 20.00 S.OO 8.75 135
Eagle and Blue Boll 1.07i 2.00 2.50 3.50 1.00 2.00 1.200
Grand Central 3.10 3.50 . 4,10 4.50 2. GO 3.00 22,825 5.05 2.50
Horn Silver 1.75 2.25 1.50 2.25 1.30 -
Inot 02 .01 .02 .03 .03 .OS 378,250 .071 .04
Iron BIOBsnm 24 .241 506.526 1 .471 .2?
.loo Bowers : ; 02 .04 .01 .02 l .03 17.500
Lltllo Bell 4.00 5.00 5.25 5.50 N 1.25 1.70 14.200 4.30 .90
Little Chlof 03! -04 .17 .171 .01 .05 372,936 .lo .041
Lower Mammoth IQ .43 -1.G2J 1.75 .16 .17 287,170 3.271 .47
Mammoth ". ..65 1.05 1.45 1.60 1.50 1.90 19.4H 2-25 1.25
May Day .12! .13 .25 .25! -321 .33 1,864,393 .76 .28
Mountain Lnkc 71 .74 .25 .271 693,503 1.00 .22
Novnda Hills . 3.77! 3iS2i 2.35 3.30 142,310 7.20 3.25
Newhouso 17.00 17.50 5.50 5.75 22.50 6.00
Now York 241 -25 .24! .25 .03 .OtJ 165.945 .13 .09
Ohio Copper , 1.25 1 .50 .4.00 4.05 2.00 2.10 25.1G0 6.25 1.80
Ontario 2.00 2.10 4. SO 5.00 1.45 3.00 3.212
Sacramento 10 .12 .11 .13 .03 .OS 18.G50
Seven Troughs 28 .2$! S7G.495 .86 .30
Silver King Coalition -45.00 50.00 14.25 16.50 3.50 8.75 2,315
Silver SlikMd . IS) .21 .13 .11 .03 .091 74,430 .141 .031
Sioux Consolidated ., 13 .11 ll,727.3SS .81 .17
South Columbus .. 50 .52 ( .44 .46 303,670 3.15 .60
South Swansea .' 04 .OR .04 .07 ,04 1 .06 51.2S7 .15 .07
Swansea 40 .60 .20 .35 .2.0 .35 1S.100 .5S .23
Tolro 0.S1 .10 .131 .111 .01 .03 132.9G2 .16 .031
Uncle Sam . 34 .40 .40 .4 1 . 11 .42 Jl,3S5,4i51 1 .SO .47
United States Smelling 47.00 49.50 69.00 70.25 ( 32.75 31.00 240.560 70.00 24.75
Utah Mino .' 50 .70 1.92 2.00 11 1.321 1.65 7.130 2.15 1.50
Utah Consolidated G0.S7J 63,75 61.50 65.00 27.00 27.75 340,987 79.00 25.50
Utah Copper 30.00 33.00 35.00 37.50 16.00 1G.75 78.G02 39.50 13.00
Victor Consolidated 03 .0t .11 .12 .041 -05 SS7.1S9 .20 .04
Victoria 1.90 2.00 2. 00 3.25 .75 1. 10 1.400 2.25 1.25
Wabash.' 90 1.25 .25 .27 30 35.55G .50 .15
Yankee Consolidated 30 .33 .51 .53 .25 .29 302.136 .75 .31
QiiotaUonson the original SIlver KIn?.
Table No. 2. Table No. 3.
Month. J 1905. 1906. 1907. ' ' j ; i
I Year. Shares. 1 Amount.
January 473.774 $ 154.712 1.032.675 $ 512,325 1.6S0.096 $ 1,344,345 f
February 406.202 105.202 905.175 442.661 1.346.405 927.2S5 ."JF rg ,-
March 717.329 1S3.536 1.206,392 SG3.537 1,129.175 1,126.238 : ?; i i'.'L'i'15 .. "5
April 838.975 24S.931 1.493,085 SS1.641 972.185 729.S8D . 5$ inoSq'rnf i'Tnn'n'
May 6S5.032 137,760 1.123.116 82G.915 1,115.799 S82.974 i l",T5f,-2? ,-o ,.
Juno I 725.332 137.522 992.777 799,971 S07.592 5S0.S00 j o'l'ISi'SSi i?'-fiAAo-
July ( 535.9161 155.156 G70.3SG 551.060 1.783.672 1.700,647 i annMMJ 11 'Am in?
August 489.229 122.991 1,010,112 727.531 1.631.235 1.631, 4S3 Ta'q? r'nSS.-o5
September 440,143 1 19.717 1,662.196 822.632 J. 667.331 1,641,666 on r-nl'e 2',
October . . ..' 492,950 204.5-16 2.143,995 I.O.V.'.G.'iS 2,197,185 1,636,178 ""1 5 5,?,"t(? i'oiMoH?
November 605.356 2S2.092 1.2S9.347 1,102.467 1.631.503 955.93G 14'555 391 o 470 08.1 5
Totals 6. 110.238$1,S93.16S13.53 I.256H3.G76.40115.9G2.178$13,166,H6 1 1907." ! '. I I. ! 1 1 1 1 1 1 ! 16',729714 lfl576555'.S5
year beforo tho present. Tho aver
age valuo of stocks sold during
tho present year, though, was much
greater, as tho total is moro than $13,
000,000. In many respcotB, therefore,
tho present year has been tho groatcst
in the. history of the exchange. More
legitimate business has been done on
the floor of the oxchango than during
airy previous year.
In table No. 3 aro given the figures
showing tho records for eleven years,
although, of course, tho record for this
year is not yet complete. Exact data
for tho business prior to tho vcar 1003
could not bo obtained, so much of that
has been estimated. In the last four
years tho records havo been very care
fully kept by tho secretary of the ox
change, and all business "done on the
floor is recorded. It will be noticed that
tho present yoar is the best in many
respects, although the year 1901 shows
greater sales aiid higher values. Thcso
figures, however, aro not altogether ro
liable. Activity In Unlisted Stocks.
During tho first six months of the
year thero was considerable activity
in many of tho unlisted Btocks. Tho
principal tradors were Ohio Copper.
Bingham Standard Copper, Newhouse,
Copper Glance, Mason Vallcv. Emma
Copper, Unitah Treasure Ilill. Ely
Witch, and one or two others. During
tho latter part of the year Ohio Cop
por and Standard Copper have been the
principal unlisted stocks in demand.
Thero havo been no such promotions put
out this year as there wcro at tho close
of last, yonr, when Nevada Douglas,
Federal El', Ely Witch and McDonald
Ely commanded attention.
Tho very decided drop m tho. prices
of motalB has. of conrsc, had its effect
upon the stocks of our exchange; also
on the busincso. The conditions of the
mines in our various districts arc such
as to warrant an expectation of an
stocks of tho TTntic ffijft"
case of tho properties that tho it
much gold and some coonorU roduc(i! U
aro other Blocks . WfiSU S&?3fl '
recover so rapidly until iheroW' ?t
provement in tho market fr u n- J f,
silver. On the wholo it KniCud AM I V
Salt Lake stocks arc olllZ T
opportunity for inveatmJS IL S Sn 3
by any otW section nf ""r5" f.ed U.
1 9 '
railroad facilities to brinn' fl.a 1
market. Silver Island prtnflrHto the
tain copper. lead, silver B Si? C6n-
and often in vary high -valu??1!0
ton. Voins aro strong as far . ?
veloped, and promise" much" S?" 8
telling of tho Silver IsSd etoS tt? V'
remain for somo ono in tim 7 aMl l f
; Gold Springs district V thS ! S
four properties, of which th t eo- 0r V Is
the loader, that wcr ? treated l U
mcntoriouB developmen t actlv itrV '
ing tho past year. The tS dur" tf
is adding to ?he iapSfly JSST
which has been shown, so far tn v i
successful plant. Ore bodieR nf 1,0 a V
, extent are being showi Lth?afaeR2 I
Saowflako and other SSSrl&SrV'S'
pected to give a splendid accoiw? ?f t f
themselves during the new season f-
Near Gold Springs ia the old Staf. I ?
line district, once deemed the iS i nf t 1
any section of Utah a5 a minorTcTn? I y
It may be that now, but years of S I l
cct have created 'the ipin 0S ffi
there is no use in try ng to seeV !! ? '
bod 05 in paying quantities b that Vart I i
of tho State. Tlho same opinieJ a 5
few years ago was tacked up on Bine
ham 's front door, and it would bo th? I
yet had there not been somo cUaXKl
spirits who ore the opinion down ?n iS
order to get into Bingham ttf poo TSinS i
for themselves. Little has been heart 3
from Statclino in -1907, and ffttlo "S
expected trom that section. But rlan,
are on foot to do somo development
work down that way this year. Thero
13 a chance at Statelinc, and it U f
worth going afler. 18
Oyor at Ophir were two mining com- 1
panics that turned themselves into
accomplishing, propositions on a larsra
scale in 1907, tho Cliff ana the pron- W
crty of former Senator Clark of Mon-
tana. Tho latter management was so 1
close-mouthed during the year, how- I
over, that Salt Lake City heard practi- 1
cally nblhiug of what tho mino wao 4
doing. But work was not interrupted
during tho Eeason, and shipments of l
concentrates from tho mill arc known 4
to have poured out in regular fashion. T
The Cliff company is anothor closa l
corporation, but one that was amonz 3r
the most active of Utah last season. 51
This company has been shippiut; a
splendid tonnage from its finely A
equipped propcrt-, and piling up a
generous amount of profits. Its frienda 1?
look for its great ore bodies now he-
ing explored on all levels to bring the k
Cliff into the dividend list in 1908. f
II I Big merger took in famous properties at P&rk City, and gave added life to the district. i
j I David Keith heads company. All men behind new company have been instru- 4ii
I I : ' , mental in making mining history of Utah. j
The Silver King Coalition company
. . paid its initial dividend of $1S7,500 on
.lannary 31, which is 32 per cent per
annum on its capitalization of 1,250,000
. eharos. which have a par value of $5
per share. It is the intention of tho
directors lo make quarterly distribu-
I k gj lions hereafter. The well known and I
j i successful operators who form tho of-
H t. v jj liciril family aro as follows: David
! j Keith,, president; Hon. 'Thomas Kearns,
HI; F first vice-president; John S. Bransford,
eecoud vice-president; Frank J. West-
Bl . cott, secretary, and W. S. !McCornick,
B treasurer. Thoso officers, with tho fol-
H . I lowing gentlcmon form tho directorate:
Hi I James Ivors, J. Frank Judge, W. V.
1 "Rice. W. .Mont. Ferry and M. C. Fox.
Tho properties controlled by the Sil-
H ycr King Coalition company have made
M. V thc Park City district in Utah famous
H and.-have done much to spread the.repu-
- tation of the State as a great producer
S of rich metals.
f Utali's Banner Camp,
si Park City is regarded as Utah's ban-
1 tier camp, principally because it is the
1 homo of the famous Silver King mine,
H " which marvelous bonanza has always
H yielded handsomely, and because it was
I sending out millions of dollars annual'
I n biifor.o soveral of Lhc present big mines
H had passed into development periods
they aro now enjoying.
1 Silver King, in fact, deserves to rank
1 as the biggest mine of its class in the
I world. Its prodigious capacity for
I making largo tonnages ever3' day in
Bj the yqar and during ninny successive
Bj years-is unequalled, and the regularity.
H . of values contained in its ores is a phc-
1 nomcno'n in minnr'alog3'. Itfnny rich
H 1 .. Bpots than it marks havo been fuund,
but few rich spots have proven so largo
in boundaries.
This mine hns done much for Utah
and for individuals fortunate in its
ownorship. The' in turn have left their
personalities stamped in various cred
itable ways upon the State's history.
Its wealth has been distributed mainly
, in this Commonwealth, because tho own
ers have preferred to keep their money
at home, and use it to the advantago
of the Slate's manifold growing in
dustries. Known Over World.
Hut Silver King fame could not bo
kept within the small limits of Utah.
It has carried tho mineral possibilities
oC tho Slate wherever mining litera
ture is made and road, and lias prob- ,
ably been cited more to investors ns
a sample of what nature sometimes does
in disscmiuating the metals needed 13
man in place' for profitable extraction
than any other mine 'in the world. It
stands in a class of its own in many
respect 9, and is therefore entitled to bo
denominated an exceptional Golconda.
During 100b Silver King produced ap- '
proximately 48,300,000 pounds of first
class ore worth an estimated amount
of 1,500,000. and also 95.000.000
pounds of. second-class ore which was
reduced to concentrates by the milling
process, and having an estimated value
of $025,000.
The total value, therefore, of tho
yield during tho year was in the neigh
borhood of 2,125,000.
Anothor Big Dividend.
Of this amount there was declared a
total dividend of $700,000 to stockhold
ers, which brought the grand total di
vidend declared up to tho gigantic sum
. - . ' , ' J. -. x.-' -v- " -' - -
v
of $10,625,000. Dividend disbursements
'commenced in October, 1893, and ex
cept for a brief time during tho silvor
slump tho mine hns bcon in operation
and it has bepn pouring out a continu
ous stream of wealth.
The output in 1900 was loss in ton
nage than during some provious years,
owing lo many causes, but the value of
tho product was greater, as a result of
increased prices of the metals; there
fore, the proceeds of tho year's oper
ations wcro about what they wcro in
years past.
Tho company acquired by purchaso
during the year also the -veiy, valuable
Wood side property, adjoining on tho
norlh of tho Silver King's already
largo and promising estate.
Tho Davolopment Work.
There has beon a maintenance as
usual of development ahead of produc
tion of tho very complcto equipment
abovo and underground, and the usual
reserve that is always kept by this well
. managed and prosperous mining cor-
poration.
The influence the Silver King cxcrtH
upon the prosperity of tho Common
wealth is emphatically noticoable in
tho figures showing the total receipts
of the mine and tho dividend disburse
ments for tho year and from which it
appears that thero were expended for
labor, for the treatment of ores and for
transportation, very large sums, in all
aggregating upward of $1,000,000, and
probably more.
Have Stayed at Homo.
T,hc principal owners of the former
Silver King stock were Mr, David Keith
and former United Stales Senator
Thomas K earns, " Their identification
with tho property bogan with its dis
covery by tho latter, and they have
steadfastly controlled its destinies, dis
regarding undoubtedly many flattering
offers from outsiders who desired it,
and who would have likeb carried out
of Utah tho principal earnings had pos
session been passed to thorn.
In this respect these two wealthy
men rising from modest positions in
1 if c havo chosen to tako a course op
posite to the generality of men upon
whom the mantle of big productive
mine ownership has fallen in many
othor States, and who sold out their
properties and spent their wealth in"
other communities, or chose to livo else
where than Iho vicinities of tho mines
and confer the blessings of their largo
incomes upon localities romoto from
tho points of wealth production.
Salt Lake tho Gainer.
As ownors of tho Silver King. Messrs.
Kearns and Keith wore enabled lo do
much toward thiT advancement of tho
State's interests in every way, and sel
dom have they let an opportunity pass
where thc' perceived their influence
could bo. exerted for the bettermont of
the conditions of the Commonwealth or
the development of new avenues for
tho creation of wealth out of undevel
oped resources.
Therefore tho city of Salt Lake has
been tho recipient of large boneficonco
from these sources, direct from tho '
owners of tho Silver King, aud the city
also has profited largely indirectly
through tho existence 01 the SilvcrIving
at Park. City.
The discovery of tho Silver King led
to the development of many big mines
in that vicinity.
The Park City camp is distinctly ro
. gnrded as a point whero the mineral re
sources aro as yet but barely scratched
and dapital can find splendid opportun
ities there for development operations
that aro likely lo bo fraught with ex
ceedingly satisfactory results.
When New Company Came.
Tho year 1906 witnessed a. multitudo
ol these uewcr projects. By picking
up the scattered claims, and groups
thereof, thero has been much prepara
tion made for future work which is
looked, upon as destined to make Purk
City bigger than over as a mining camp
within a few moro years.
Miscellaneous Mining Districts
A Tiasty survoy ovor tho. State of
Utah presents several sections whero
one set of interests usually has boon
doing all tho work, the unfavorable
facilities for mining preventing capital
from taking tho merits of tho districts
seriously enough to enter and bring
thoso badly needed facilities along
with it.
Down tho Stato is the section known
as Fish Springs, and known only for
tho reason that the Utah mino is lo
cated thero. Tho Utah mine is Utah's
little giant. Located n great distance
from tho railroad tracks, boing forced
a part of tho year to get its .water
supply from a distance of six. miles or
moro "by wagon, and with its main
working shaft devastated oarly in 1907
by a firo from the lowest lovel up to
tno machinery on tho surface, tho com
pany has ncvor paused in its work, uor
has its regular 3 cents per share divi
dend each month been discontinued
onco. Recent visitors from tho Utah
mine stato positively that tho man
agement, in broaking into virgin
ground after redeeming tho main shaft
after months of hard work, has
poked its first pick, into what will bo
tho richest portion of this historic pro
ducer, and that many season's of pro
duction aro ahead of tho company.
Deep Creek.
Deep Creek is anothor section of
Utah admittedly rich in minerals, yet
extremoly unfortunate- in securing the
needed capital and facilities for prov
ing to the world just what it can do.
Tho Western Pacific is being strung on
its way toward tho West, and is com
pleted to and through a part of Deep
Creek, but tho Tegular running of trains
has been dela3'cd in u most stubborn
fashion. The friends of Deep Creek
look for a revival of e.onfidenco and
activity there in tho now year, but in
the past thero have been numerous
operating companios which havo hiriicd
up some bonanza oro values, and with
groat oro bodies to back them up.
Deep Creek needs railroad facilities, it
needs money to develop its resources,
and the man or combination of men
that goes into Deep Creek bent on se
curing as primo a lino of properties,
carrying all melals from copper to iron,
as this Stato affords, and with suffi
cient capital to make patienco a
virtue, will live to signalizo tho day of
his first determination as tho most
fortunate in his existence.
On the way to Deep Crock ono must
pass by what is known as the Silver
Island section. There are several prop
erties in this part of western Utah
that have splendid resources that await
The Silver King Coalition Mines com.
pany ,was organized Way 20 of this
year. The articles of incorporation
wore filed in Nevada.
This company, as can readily be per
ceived, was the new holding company to
tako over a magnificent area of tho
Park City region, tho nucleus of which
was tho famous old Silver King prop
erty, whose honorable record is well
known throughout tho mining and in
vesting world. This organization was
in process of formation for several
months, and not until late in May
would Dickson, Ellis & Ellis, the at
torneys for. tho company, consent to
release any information for publication
in regard theroto.
. As staled, tho company was organ
ized under the laws of the Stato of No
vada. The capitalization is placed at
1,250,000 shares of stock, each of tho
par value of 5. making a cash cap
italization of $0,250,000. Tho incorpor
ators are thoso who havo been prom
inently associated togothor in tho .old
Silver King company, and thov aro Sen
ator Thomas Kearns, David Keith, W.
S. McOornick, James Ivers, Windsor
V. Bice, John Bransford, W. Mont
Ferry, Mrs. Mary Judge, and Thomas
Kearns is trustee.
Owns an Empire.
Tho acreage represented in the Sil
ver King Coalition Mines company's
boundary lines is one of tho largest in
the West from a mining standpoint,
making it almost an empiro, and all
gathered together with tho ono aim of
securing valuable- mineral ground with
all due consideration to apex rights. Tho
amalgamation of tho various proper
ties has beon possible through tho re
cent compromise made between tho
Silver King company and the McGreg
or interests, sinco which time Senator
ICoarns has been employed in tho task
of rounding up mnny additional groups
of claims. Included within tho lines of
tho compan3' are tho renl and personal
possessions of tho Silver King company,
an organization with a dividend record
pf $10,900,000; tho Kearns-Kcith Min
ing company, the Maguolia-St. Lonis
company, the Pinyon Eidgo company, I sj
the Baltimore Mining company, and all H A
the McGregor holdings upon the. hill. I.
Also the Addenda group, the individu- I
al holdings of Thomas Kearns, consist- I j (
ing"of somo ten claims, and the prop- I y
crties of the Odin company- and the I f-;
Belmont Mining company. ;;
They Have Made History. I
These properties givo the new or- i , ;
ganization a total area of over 2000 I j '
acres, and among them arc several I :.
groups which liavo made history of tho 1 a
most honorable sort during the part, I
and all capable and certain of making I J'
equally as honorable records in the I .3j
many years to come during which miu- 1 f
ing will bo carried forward within thcso ffl 3
lines. It is safe to predict that after I
each and all of tho present officials 1 y
have ceased to be, remunerative mining 1 H
still will be carried on by that coin U ft r
pany, should not an additional foot of I C j
territory bo added to that alrcad' pos- I .i j
scsscd. Tho Silver King, tho generous I i
profitshnrer,' according to the reports of II''
thoso who havo visited tho property re- I ?
contly, has not boon exhausted by any I J
moans, and it will "provide a mighty jjj
substantial proportion of tho dividends 1
soon to be inaugurated aud maintained
by the company. I V '
New Life to' District. 1
The formation of this company mean. l"f i
new life for Park City, and it comes at I
a time when such au impetus is abso- I
luloly essential to tho wolf are of the I ,i it
camp and tho mining cud of tho Stato i ti
generally. Now that all pland havo I t
been formed, tho company can begin H 7: ;
its career of usefulness to the better- 1 j
ment of all tho State, and especially to
tho betterment of Park City and Salt 5t
Lako City. Many millions of dollars' S
worth of oro havo beon taken from tho 4
ground in question, tho greatest part of 9 i
which has been utilized in the upbuild- jd (,
ing of a greater Utah. In tho future ,.
those at tho holm can bo looked to for l- y
additional good to tho Stato. All eilort j
will bo used to mako this company tho I j.
mouumeutal concern of its kind in j.
I Utah. s i;
.5 1
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