Tintic, Gold Chain Mining Co.

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The Gold Chain Mine

(The focus of this page is the surface workings of the Gold Chain mine, as visible in photographs, as well as a general description of the mine, with minimal coverage of the geology and financial returns. Also to establish a timeline using sources not previously readily available.)

The Gold Chain mine in Mammoth Hollow was first developed as the Copperopolis mine, and was operated by the Mammoth Copperopolis of Utah, a company organized in England in 1872.

The Ajax Mining Company had its beginnings as part of the original mining claim "located" in 1870 as the Mammoth Lode by Major M. D. Harmon. The Mammoth Lode was the first patent in the Tintic district, filed in September 1870.

By September 1871 the property had been sold to Noah Armstrong, and was sold by him to an English syndicate headed by Lord Claud Hamilton. Extensive operations were commenced under the name of the Copperopolis Mining company, the same name being given to the mine.

A 15-stamp mill was built at Roseville, five miles southeast of Diamond, and later a copper smelter with two stacks. The English company sent out Samuel W. Valentine from Boston as manager, who proceeded to spend $160,000 of the stockholders' money, including $60,000 for a road between mine and smelter that was mostly not completed.

In early 1874, the workers took possession of the mine for back wages. Wells Fargo & Co., attached the mine for $13,000 owed. During 24 years of litigation, 1883 to 1897, the mine was worked without any apparent plan or purpose, but mostly remained idle. The mine was reorganized in 1877 as the British Tintic Mining company, but was unsuccessful other than leasing portions of the mine to local operators. The mine was reorganized again as the American Eagle Mining company, which sold the mine to the Salt Lake Copper Manufacturing company. After defaulting on its payments. The mine was reorganized again as the Ajax Mining company. (Salt Lake Tribune, July 6, 1895; November 16, 1897)

Description By Others

The following description of the Mammoth Copperopolis mine comes from the June 3, 1877 issue of the Salt Lake Tribune.

Tintic, like nearly all mining camps, has had to suffer for the sins of the wild cat speculator, and thieving superintendents. We have heard of many instances in our own Territory where some fellow has inveigled the capitalist into investing his money in a mere hole in the ground, and of the managers of mines owned abroad, getting rich at the expense of his company and to the disgrace of the Territory in the estimation of moneyed men. Tintic has been the ground over which such games have been played, and she has not recovered from the disgrace, though it is possible, we believe, for her to do so, and that, too, within only a few years at the farthest.

The great stealing, swindling, bilking transaction of Tintic, was perpetrated upon the Mammoth Copperopolis Company, an English corporation, who once owned the finest prospect for a great mine to be found anywhere in Utah, if not on the Pacific Coast.

The Mammoth Copperopolis is the great mother vein of the district, and was discovered by Welch, Armstrong and others in 1871. William J. Valentine, a shrewd and unprincipled Yankee, who was speculating in London, bought the claim in December of the same year for an English company, and in the following February, Mr. Francis Fowler was sent out of London to take charge of the property.

Immense bodies of copper ore were struck even on the surface, and the mine, by judicious management, was made to pay its way as development progressed. For eight months things went on swimmingly, and the stockholders were paid several dividends. About the close of the year 1872, Mr. Fowler received an intimation to work from Valentine to work the mine in a manner which would enable him to manipulate the stock for his own benefit. This Mr. Fowler refused to do; whereupon he was removed as manager of the mine and his place filled by Mr. Sam Valentine, the brother of the Yankee in London.

Now the sorrows of the company began. Sam had been a peddler in Boston, but when he took charge the following January, he scattered the Britisher's money lavishly, in a style, in fact, which never would have led one even to suspect that he had just thrown up a wooden [illegible] business for the management of the mine.

One of Sam's first conclusions was that the company needed a mill and furnace, although developments in the mine at the time did not warrant the outlay which would be necessary for the construction of reduction works.

Water in sufficient quantities was exceedingly scarce in Tintic, though in the valley, several miles from the mine, there was enough to run three mills. This he passed by. Going five miles beyond - the place where the Shoebridge and Crismon mills now stand - on the mountain side, he selected a site commanding a full view of the valley, and there erected a mill at a cost of $100,000, far from sufficient supply of water, far from a main road, and there it stands to-day solitary and alone, a sort of a monument to Valentine's Yankee thrift. How much Sam realized out of the [illegible] transaction is not stated, but why he selected this distant, solitary spot appears more fully as the story goes on.

It is a long and gentle slope from the mine down to the valley, and from the valley up to the mill, and a natural road all the way. But Sam let a contract and took it himself, to build a road between the company's mill and mine. This road could have been built for $1,000, but Sam with his usual Yankee thrift, put in vouchers and got off with $60,000 for the job. Then the second reason why the mill was built so far from the mine was to afford Valentine an opportunity to let contracts for the transportation of ore. Between thirty and forty tons was the daily shipment on which Sam exacted from haulers a royalty of fifty cents per ton. But the trick was all in the letting of the contract, and the ore hauler was as safe as any man could be who dealt with Sam Valentine.

The management of this fellow is illustrated by the fact that he offered to let a contract to one of the Crismon brothers to put down at the mill 30,000 cords of wood, providing he would take it and pay Valentine fifty cents per cord royalty for the privilege of the job. He did not inveigle this party into his clutches, but those whom he did catch he is said to have fleeced.

During this year of Yankee management of an English mine, upwards of 4,000 tons of valuable ore was extracted, besides large quantities of gold and silver bearing rock, all of which vanished, together with $150,000 in cash, which had been sent out from London.

But the speculation did not stop here; the company was left $60,000 in debt, and the miners lost from two to three months' pay.

A rich gold strike was made in the mine, and the miners say that Sam used gouge it out at night, pack it up in barrels and ship it off as merchandise. It is not likely that Sam gobbled it all; that could not be, but he wasted it and grew fat on the pickings. His [illegible] son who used to loaf about Silver City expressed the truth, probably, when he remarked, in the presence of several gentlemen, that "Dad didn't have four bits with which to buy a meal when he came here, and now he claims to be worth $60,000."

The mine was gouged out like a great stone quarry, and left an open cut in the hill, naked of improvements, a plundered mine. And in this shape the property still remains.

Sam's other works in the Territory were carried on in perhaps a less gorgeous, but not less profitable manner for himself and brother Bill. He bought the Mountain Chief prospect, in Dry Canyon, for $4,500, stocked it for a quarter of a million dollars, and distributed the stock among Mammoth Copperopolis shareholders at the egregious price of $200,000. No ore had, at that time, been taken out of the mine, except what had been first bought from the Emporium mine and placed in the Mountain Chief. Wonderful reports of the richness of this property went to London, until the purchase money arrived in Salt Lake, after which the president of the company in England never received one word from Sam. In the meantime the Mountain Chief furnaces had been built at Sandy, distant from the mine over forty miles by wagon road, to smelt the ores which had not yet been found in the mine. In short, the whole history of Sam Valentine's management is one story of plunder. Those who worked for him robbed him and he in turn got even with his English backers. In 1874 the company's properties were left encumbered with debt, and to retrieve that, Mr. S. W. Cook, who had been a mail agent on one of the Cunard steamers for thirty years. A most accomplished mining engineer, indeed!

In the fall of 1875 the Mammoth Copperopolis mine was leased to Mr. T. E. Clohecy, who extracted an average of about thirty tons of good ore per month, but for some reason resigned his lease the 12th of May, thus closing down the mine, leaving it without a windlass, a timber or a rope - simply a series of holes in the ground.

This is a most striking example of bad management to be found in Utah. Yet the fault lies in the selection by the company of managers whom they had never seen and know absolutely nothing of; managers who were incompetent to manage a mine, besides in many instances being dishonest. Th Mammoth Copperopolis was not the first English mining company in Utah to be as robbed by dishonest managers. But Sam Valentine is now peddling oil cans in the streets of Boston, and the company is sick.

The following description comes from the December 17, 1895 issue of the Salt Lake Herald.

H. M. Ryan, one of the stockholders and directors of the Ajax property, near the Mammoth, in the Tintic district, has the following to say regarding this valuable property:

The Ajax is composed of three claims, embracing what was formerly known as the Champlain mine and Fraction and the old Copperopolis. The deepest workings in the Ajax is by means of a 482-foot shaft. When the shaft has been driven fifty-five feet more the company will then drift about 150 feet, which will bring them directly under the old workings of the mine. When this is done and a small amount of development work performed at the face of the drift, which will be necessary to make room for a reasonable working force, the Ajax will surprise those who are not well informed concerning this property, for it will then become one of the largest shippers of high grade ore in Utah.

More than a million dollars have been paid to those who formerly operated this property, from the proceeds of the mine. This was before the consolidation of the Champlain and Fraction and the Copperopolis, which consolidation was brought about by the late legal contest, and at a cost of many thousands of dollars. The large bodies of ore which paid this immense sum was taken from the mine at a depth not exceeding 350 feet. The Mammoth, adjoining, is developed for a depth of 1,400 feet, finding its largest ore bodies at that level. The development of the Mammoth proves that the Ajax will not lack for ore while driving the next 918 feet. From data secured and conservatively figured, and taken in comparison with the Mammoth and the former production of the Ajax, and the present condition of the Ajax, we are satisfied that Ajax stock is well worth $3 a share. Since the consolidation the expenditures on the property have been in the neighborhood of $50.000, nearly all of which has been taken from the mine; yet the management did not aim to ship ore except when convenient to do so while developing the property. We estimate that we have in and about the mine about 75,000 tons of second-class ore, averaging $10.50 in gold to the ton, and carrying copper and silver to the value of $5. However, the gold is not found in quantities worth mentioning in the ores that carry values in copper, the silver and copper ores being found in one portion of the mine, and the gold and silver in the other. Negotiations are pending at present between the directors of the Ajax mine and Mr. Robinson of the Sioux Consolidated mill for the sale of the Ajax second-class ores. We have every reason to believe that the negotiations will be successful upon the return of Mr. Robinson from the east, in which event the Ajax company will be the recipient of a large sum of money, and the treasury will be in such a condition that the hearts of the stockholders will be made glad.

The following description comes from "A Hand Book on the Mines, Miners, and Minerals of Utah," by Harry W. B. Kantner, pages 321-322, published in 1896

The Ajax. -- Under many names and possessed by contending corporations, the Ajax, formerly the well-known Copperopolis, seems to have taken a new and permanent lease of life. For years it had been a bone of legal contention, first controlled by one and then by another interest, each, when in possession, taking out the ores and yet doing as little development work as possible. The upshot of it all was that the value of the mine was almost destroyed, and as its interests seemed also to conflict with those of the Champlain, the owners of the latter bought out the adverse claimants for something like $50,000 and took hold of the property and began work.

Up to this time not to exceed 200 feet had been gained in depth in all the works undertaken, and as the ore bodies gave out because no development work was done, it is not surprising that this mine, like so many other good but abused properties, should have been deemed well-nigh worthless. Since the property fell into the hands of the Ajax Company, of which Mr. Frank Knox, the well-known banker, is the president, over 300 feet in depth of working has been gained and the mine is today recognized as one of the most promising in the state. The high range of ores, as resulting from actual shipments, show 4 oz. of gold, 40 per cent copper, and 12 to 30 oz. silver. These are the maximum figures for car load shipments. The Ajax, of all the mines in the district, seems to show the greatest percentage of lead.

Arrangements are making for a run on the low grade ores in the Farrell mill in the district, and it is more than likely that it will, within a year, have a new and modern mill of its own for the reduction of such ores as will not bear the cost of transportation.

The company is capitalized for 300,000 shares of a par value of $10 each. Frank Knox is president and treasurer; S. Mclntyre, vice-president; Isaac Jennings, secretary; R. G. Smith, assistant-secretary. These gentlemen, with the exception of Mr. Smith, and with the addition of Mr. H. M. Ryan, W. H. King, Geo. A. Lowe, and W. G. Nebeker are the Ajax directors.

The following description comes from "The Towns of Tintic" by Beth Kay Harris, pages 45-46, published in 1961.

The Ajax Mine was also located in the seventies [1870s]. In stoping out the ores from this mine, men picked handfuls of golden nuggets from the walls of the drifts where they clung in giant nests.

The Ajax became part of the Gold Chain group, and from the time it was located paid out in ore as rich as the Mammoth. This mine was also owned in England and became part of the Mammoth-Copperopolis holdings. The ore of the Ajax was sent to Swansea, Wales, for treatment.

The company constructed a mill in Tintic six miles from the mine to treat the ores and placed a man named Ballantine in charge as superintendent. Ballantine had a wagon road constructed from the mine to the mill. The route, lying across level country as it did, required no grading. For this six-mile road, he charged the London owners thirty thousand dollars. Such extravagances under this mine superintendent were common, and great sums were swallowed up as "expense."

The Ajax was a rich gold producer but the English owners were receiving small returns. After two years of constant assessment, they grew discouraged, and one day the mine did not meet her payroll. It was seized by employees on labor liens, then Wells Fargo and Company also entered a claim for unpaid bills for over thirteen thousand dollars which were due them. The mine passed into the hands of new owners who discharged this superintendent and organized the Eagle Mining Company. The mine then began to show an immediate profit.

Before Ajax (1871-1894)

Mammoth Copperopolis Mine (1871-1875)

(This "Mammoth" mine from September 1871, as the southern extension of the Mammoth Lode, later became the Mammoth Copperopolis mine after the northern extension of the Mammoth Lode became known as the Crismon Mammoth mine in November 1871.)

(Read more about the Mammoth northern extension mine, known as the Crismon Mammoth mine)

September 6, 1871
The Mammoth mine in the Tintic District was primarily a copper mine because the ore was 32 percent copper, but the ore also held $30 in silver. At the time, the Mammoth mine was second in value only to the Emma in Little Cottonwood. The Mammoth mine was one shaft, 60 feet deep, and one tunnel, 80 feet, with several small shafts extending along 800 feet of the line of the vein. The Mammoth mine was entirely owned by N. Armstrong, E. C. Atkins and Daniel Yandes. There was no conflicting titles or claims. (Salt Lake Daily Review, September 6, 1871)

(The previous best known source for copper in Utah was the Lucin mine in northwestern Utah Territory.)

November 1871
The Mammoth Lode was being worked by "Mr. Chrissman" (sic: Crismon) on the north and Mr. Armstrong on the south. The Armstrong tunnel was known as the Copperopolis of Utah. (Salt Lake Daily Review, November 1, 1871)

(Note that the Copperopolis name predates the Mammoth Copperopolis name.)

(This location for the Copperopolis matches the 1899 map of Tintic showing the mining claims, being southeast of the main Mammoth claims.)

November 1, 1871
At Noah Armstrong's mine, "There is on this dump a large quantity of ore, all ready for shipment, a great deal of which is black oxide of copper. There is also a fine tunnel under way to this mine, which, when finished, will greatly facilitate the extraction of ore. This mine is known as the Copperopolis of Utah, and though it carries silver in no mean quantity, it is only worked for its copper production." (Salt Lake Daily Review, November 1, 1871)

January 12, 1872
From the London Mining Journal, The Mammoth Copperopolis of Utah, Limited, was incorporated in London. "This company is formed for the purpose of acquiring a freehold mining property known as the Armstrong claim on the Mammoth vein, and locally called the Copperopolis of Utah." "With three men at work in the mine, 600 tons of ore have been extracted within the last four months, which yielded $112 per ton in New York, the total expenses being $64.25 per ton, leaving a net profit of $47.75 per ton by the present expensive and inefficient means of working." A five ton sample of ore was taken from the mine and shipped direct to Swansea in England, where it yielded $142, $16.40 more than the New York price. The sale contact was finalized on November 30, 1871, with the reported price being $683,000. (Salt Lake Daily Review, January 12, 1872)

August 3, 1872
Ten tons of ore was being shipped daily from the Mammoth Copperopolis mine to Swansea in England. The same company in England owns the Saturn smelting works at Sandy, and the Saturn mine at Bingham. Deseret News, August 3, 1872)

January 11, 1873
"Midway between Eureka and Silver City, the Mammoth and the Mammoth Copperopolis are situated, and the latter is owned by an English company. This mine is at the present, time the leading one of the district. The preparations in the shape of buildings and accommodations for an extensive mining business are on a grand scale. The ores from it yield a large percentage of copper, silver and gold and the returns of shipments to Swansea have averaged in some instances from $200 to $300 per ton." (Salt Lake Weekly Tribune, January 11, 1873)

January 25, 1873
"The Mammoth Copperopolis -- Is working forty-five men and continually shipping large quantities of ore to Europe. Mr. Crouch is Superintendent, John Crosaett chief clerk and Capt. McNamara foreman of this monster company." (Salt Lake Weekly Tribune, January 25, 1873)

March 15, 1873
"There is no Copperopolis mine - but a Mammoth Copperopolis, and Crismon's Mammoth. These mines are raising almost fabulous quantities of ore, rich in gold, silver and copper. The latter is now on the English market, and experts say that it is well worth the $600,000 the company ask for it." (Salt Lake Weekly Tribune, March 15, 1873)

April 12, 1873
With the growing number of smelters in the Salt Lake Valley, including the Saturn smelting works at Sandy, the ore from the Mammoth Copperopolis mine was shipping ten tons daily to market in Salt Lake City, instead of Swansea in England. (Salt Lake Weekly Tribune, April 12, 1873)

("Located six miles from the mine, the Copperopolis Smelter made black copper from the ores of the mine by the same name. With two furnaces, this smelter handled twelve tons of ore each twenty-four hours. It shipped black copper, silver, and gold bullion. Many of the men who worked in this smelter became leaded. They then worked their twelve hour shifts wearing sponges over their mouths for protection." -- "The Towns of Tintic" by Beth Kay Harris)

August 9, 1873
"Mammoth Copperopolis Mill. -- The resident officers of this enterprising company are Samuel Valentine, Chief Manager of all the business connected with the company in Utah; Thomas Couch, Superintendent of the Mine; P. N. Compton, Secretary and Treasurer; and Mr. Roddin, ex-offico Superintendent of the Mill. The company is doing business on a large scale, employing a great number of men at their mill and mine." (Salt Lake Weekly Tribune, August 9, 1873)

September 6, 1873
"The Mammoth Copperopolis was shipping about ten tons of copper ore daily. P. N. Compton, Esq., the company’s resident Secretary, went during the month to reside at the mine." "The Mammoth Copperopolis company were building a mill, six miles from Silver City, and two miles from Tanner's Ranch. The mine was looking well and promised a full continuance of yield. A force of sixty men was employed." (Utah Mining Gazette, September 6, 1873)

September 13, 1873
The Mammoth Copperopolis mill began operations, and the smelter ("furnaces") were close to starting. (Utah Mining Gazette, September 13, 1873)

(Construction of the Mammoth Copperopolis mill was "commenced" during mid-April 1873. -- Salt Lake Weekly Tribune, April 19, 1873)

October 11, 1873
"The Mammoth Copperopolis Company are turning out and shipping from a ton and a half to two tons per day of copper matte [from the smelter], averaging eighty per cent, of copper. The furnaces are pronounced a decided success, and are under the immediate supervision of Mr. Williams of Lake Superior." (Utah Mining Gazette, October 11, 1873)

(There were some periods of shut down due to lack of water, until an additional springs were purchased.)

January 10, 1874
"The Mammoth Copperopolis, and Crismon Mammoth, are still yielding ore in large quantities; it is remarkable how this mine 'holds her own,' and lucky are the stockholders of both companies." (Utah Mining Gazette, January 10, 1874)

(The Mammoth Copperopolis mine, mill and smelter were inactive from January 1874 through mid 1875 as the company defended itself in the courts, from a suit by its miners which sued for back wages. There was finally a settlement in December 1874, but the company itself remained inactive. All mining and milling activity after December 1874 was by leasers, which shared their proceeds with the company, with Simon Bamberger taking a lease on the mine and mill in August 1875. Then in September 1876, the English company began having financial problems from not paying various promissory notes to local banks. The banks sued for their money, but were delayed in collecting because the mining company, Mammoth Copperopolis Mining company, was an English company.)

(Read more about the timeline of the court cases involving the Copperopolis mine and its English owners)

(In 1877, the Mammoth Copperopolis Mining company leased the mine, mill and smelter to a new company, British Tintic Mining company, which was organized for the purpose of assuming the debt of the Mammoth Copperopolis company. But there were delays in the English courts stemming from shareholders' law suits in England.)

British Tintic Mining Company (1877-1883)

(The newspapers regularly reported the mine as the Mammoth Copperopolis mine, although the company had changed ownership in England.)

(In 1881, the British Tintic Mining company became the subject of its miners taking possession of the mine to recover their back wages, with the mine again becoming inactive. This resulted in the English owners losing ownership of the mine, mill and smelter in 1883.)

1877
"The Mammoth Copperopolis. -- The English company who bought the mine, leased it to another organization known as the British Tintic company. This corporation worked the mine for a time, and then fell into arrears to its laborers, who took hold of the mine under a lien, and have been steadily working it and shipping from it since. It is even said that they formed themselves into a company under the name of the American Eagle, and that it will take some pretty strong proceedings to dispossess them." (Salt Lake Herald, October 5, 1884; Salt Lake Tribune, July 6, 1895)

(By 1878, references to the Copperopolis mine were only that it was being "put into shape" by various leasers.)

April 2, 1879
Simon Bamberger filed suit against Thomas E. Clohecy. (Salt Lake Herald, April 4, 1879) (Research suggests that this suit was concerning revenue from each party's lease and operation of the Mammoth Copperopolis mine, mill and smelter.)

November 1, 1879
The mill site of the Mammoth Copperopolis company was apparently inactive. The following comes from the November 1, 1879 issue of the Deseret News.

$250 Reward - Will be paid for the arrest and conviction of the parties who have been breaking and carrying away portions of the mill and out-buildings which formerly belonged to the Mammoth Copperopolis Company in Tintic Valley, and in stealing personal property therefrom. A like reward will be paid for any information which may lead to the arrest and indictment of any person or persons who in future trespass upon or steal any property from said premises. - J. B. Rosborough, Agent for Hamilton & Elliott. Salt Lake City, Oct. 29, 1879.

June 1, 1880
The Mammoth Copperopolis was still owned by Lord Claud Hamilton, "whose great mine has figured in more law suits than any other Britisher. The mine is at last free from litigation and is now being worked by his Lordship through the supervision of Messrs. Rosborough & Merritt, who are employing the men in reopening the property and putting it in shape for more extensive development." (Salt Lake Tribune, June 1, 1880)

American Eagle Mine (1883-1894)

(The first reference to the American Eagle Mining Company was in April 1884, "The American Eagle mine (once the Mammoth Copperopolis)" -- Salt Lake Herald, April 30, 1884)

(The American Eagle Mining company was formed by John Bastian and others based their possession of the Mammoth Copperopolis property, which in-turn had been ordered to be sold as a court judgment to recover the back wages of miners who had filed suit in 1881. Bastian had purchased the miner's lien, and therefore held possession of the property.)

March 22, 1883
"The Copperopolis Mine. -- This property, formerly belonging to an English company, is worked under a long lease by parties resident in Silver City. The ores extricated are similar in character to the Mammoth ore and are sold to the Mammoth Smelting Company. This ore body is about three feet in width with a tendency to improvement in extent as the work of sinking on the vein progresses. The ore carries about 300 ounces per ton, and a fair showing of gold." (Salt Lake Herald, March 22, 1883)

(Read more about the timeline of the court cases involving the Copperopolis mine and its English owners)

April 30, 1884
"Silver City, Juab County, Utah, April 27, 1884. -- The American Eagle mine (once the Mammoth Copperopolis), now owned by parties resident in your city [Salt Lake City], has suspended operations for the present. The cause of this suspension of work on this really fine productive property, is not definitely understood." "The A. E. Mining Co. having leased the Wyoming mill at Homanville for the purpose of working rich ores of a peculiar character, which was being excavated in large quantities from the mine." (Salt Lake Herald, April 30, 1884)

June 15, 1888
The American Eagle Mining Company applied to the U. S. Land Office for a patent on the Copperopolis No. 2 mining claim, 1,092 feet by 554 feet. The patent was granted on October 25, 1892. (The Ensign, Nephi, June 15, 1888; Deseret News, October 25, 1892)

September 17, 1892
The American Eagle Mining Company sued Caleb Chamberlain [sic: Champlain], for trespass and encroachment for taking ore from the wrong side of the boundary line between the Copperopolis claim and the Chamberlain claim. The court issued an junction on August 23, 1893 in favor of the American Eagle [Copperopolis] company. (Provo Daily Enquirer, September 17, 1892; August 24, 1893)

(The Copperopolis mine was reported as being inactive at the time due to the uncertainty of its ownership.)

(A news item in the March 11, 1894 issue of the Salt Lake Herald about the Salt Lake copper plant shows that Otto Mears of Denver, became financially interested in the American Eagle company at the time that the copper plant company bought an interest in the Copperopolis mine. This was at the same time that the copper plant was well under construction, and Mears as a director of the copper plant company was looking for a reliable source of copper ore for the copper plant. There was a note in the May 24, 1894 issue of the Salt Lake Herald, that the American Eagle company's Copperopolis "mine has been shut down for some years, until recently, when the copper plant people of Salt Lake made arrangements for working it.")

(The law suit below is the first direct reference of Otto Mears being involved with the Copperopolis mine.)

May 4, 1894
"The American Eagle Mining company and Otto Mears have brought suit in the First District court to restrain V. F. Clays, A. R. Halcomb, James T. Wall and John Sullivan from taking more ore from the Mammoth mining claim in Tintic and for $2,000 damages for ore already taken out. It is alleged the defendants underground are taking ore from the property of plaintiffs." (Provo Dispatch, May 4, 1894)

(Otto Mears was a director of the Salt Lake City Copper Manufacturing Company from the time of its organization in May 1893, until his resignation on September 21, 1894.)

(The suit stemmed from May 3, 1894 when miners of the Champlain company, working from the Phoenix ground, broke into the Copperopolis ground and found very rich gold ore. The Champlain people claimed that it was the Copperopolis people who were taking ore illegally from the Champlain ground, stating that their miners could hear the Copperopolis miners working below them. -- Salt Lake Herald, May 7, 1894; May 14, 1894)

(The above law suit was settled in October 1894 by the organization of the Ajax Mining Company, which consolidated the Copperopolis mine, the Champlain mine, and the Phoenix mine.)

(There was a reference in February 1895 as part of the Singer vs. copper plant company law suit. The reference came from Stephen Harrison, one of the defendants, in which he stated that the $25,000 advanced to the copper plant company as part of the $100,000 bonus fee from the Salt Lake City citizens committee was used to buy copper mines instead of being put toward the building of the copper plant itself. Harrison stated that $13,000 was paid to Joseph Farren as the balance toward the copper plant company's purchase of he Copper Mountain mine in Box Elder County, and $12,000 was used to complete the purchase of the Copperopolis mine in Juab County from the American Eagle Mining company, in the form of purchasing the Copperopolis No. 2, the Mammoth, and the West Mammoth mining claims. -- Salt Lake Tribune, February 10, 1895)

June 17, 1895
The fight by the former English owners of the former Mammoth Copperopolis mine was over after the Utah Supreme Court heard the case and upheld the lower court's decision, refusing to vacate the judgment of October 1893 in which the result was the American Eagle Mining company retained possession of the Armstrong claim. "The Supreme Court holds that the motion to set aside was made too late, as it was not presented until more than six months has elapsed after the adjournment of the term at which the judgment was rendered." (Salt Lake Herald, June 18, 1895, "yesterday")

(By February 1896, the American Eagle name for a mine was being used for a mine in Box Elder County, Utah. -- Salt Lake Herald, February 8, 1896)

Ajax Mining Company (1894-1909)

October 17, 1894
"Treasurer L. D. Shoenberg. of the Salt Lake City Copper Manufacturing company, arrived in the city from his home in Denver yesterday afternoon and went out to the Copperopolis last evening, for the purpose of making an inspection of the property. It is the intention of the company to at once commence a more systematic development of the mine and to that end the officers of the company have recently made some inspections of an official nature in order that they might act with intelligence when the proper time arrives." (Salt Lake Herald, October 17, 1894)

October 19, 1894
"That Copperopolis-Champlain Suit. -- On Monday the great Apex damage suit instituted by the owners of the Champlain against the owners of the Copperopolis, the copper plant people, will be called up in the First district court at Provo for trial and both sides are preparing for the battle royal which is sure to ensue. During the past week several parties of experts have inspected the properties, the last being that shown over the Copperopolis by Treasurer Shoenberg, of the Salt Lake City Copper Manufacturing company. Mr. Shoenberg and the people who will appear as witnesses for the defense, returned from the mines yesterday, and are now prepared for the opening of the campaign. Mr. Shoenberg yesterday made his first inspection of the works since his arrival here for the purpose of assuming the temporary management of the affairs of the company." (Salt Lake Herald, October 19, 1894)

(This case of the Champlain company vs. the Copperopolis company was a classic case in mining apex law. Everyone in the Tintic district reportedly knew that the Champlain miners had found ore within the boundaries of their claim, at the grass roots level, also known as the apex, and had very successfully been following the vein, taking out a reported $2 million by the time of the law suit. The Copperopolis miners had come upon the ore vein from their side of the line, and were also following it. But it was the Champlain company that won, without any argument due to the well-established apex law, which had been tested numerous times in almost every mining district in the nation. Any miner upon whose claim there existed the apex of a mineral vein, at the surface, had all rights to follow the vein, regardless of how many other mining claim lines it might cross. The Copperopolis vs. Champlain case was decided immediately after accurate surveys were taken, and after experts agreed that the Champlain company held the apex. The Champlain company took the Copperopolis company because the value of the ore the Copperopolis company illegally extracted, and therefore the damages from losing the law suit, exceeded the Copperopolis company's ability to pay those damages.)

October 23, 1894
The articles of incorporation of the Ajax Mining Company were filed with the county clerk "today." (Deseret News, October 23, 1894)

October 23, 1894
The following comes from the October 23, 1894 issue of the Salt Lake Herald.

The trespass and encroachment suit between the Copperopolis and Champlain companies has been settled out of court.

"A new company, under the name of the Ajax Mining company, has been organized and will absorb the two properties. The two properties will be worked through the Copperopolis shaft, and work will commence at once. The suit was to come before the court on October 22nd. but the two parties settled the case.

It was another case of incomplete and inaccurate surveying of boundary lines. The Copperopolis company sued [in September 1892] the Champlain company for $2,000 in damages for extracting ore from its side of the claim boundary line. The Champlain company then counter-sued for $200,000, on the same question of the Copperopolis extracting ore from the wrong side of the boundary line.

Under the settlement agreement, the Champlain company takes the Copperopolis company, including the Copperopolis hoisting plant and its interest in the New East Tintic Railway.

The Copperopolis company was owned by the Salt Lake City Copper Manufacturing company, which had extracted "considerable ore now stored at the copper plant."

The incorporators of the Ajax Mining Company Frank Knox (president and treasurer), Henry Shields (vice president), W. L. Snyder (secretary), Henry M. Ryan (board member), J. T. Sullivan (board member), and Peter Burke.

(Read more about the Salt Lake City Copper Manufacturing Company)

October 25, 1894
The new Ajax Mining company took possession of the combined Copperopolis and Champlain mines "last night." The new company put its force to work on November 2nd. The Champlain mine was to be worked through the Copperopolis mine until a drift could be driven from the Phoenix, another property of the new company, which adjoins both properties. The Copperopolis hoist was to be moved to a new location. It was reported that the owners of the newly organized Ajax company was to pay the former owners of the Copperopolis company [the copper plant owners] a sum of $35,000, with all suits being dismissed. (Salt Lake Herald, October 26, 1894; November 3, 1894, "last night")

January 9, 1895
Samuel McIntyre, owner of the Mammoth mine, purchased a one-third interest in the Ajax mine "last night," for a reported $475,000. In return, he was elected as a director and vice president of the Ajax company and general manager. Henry Shields sold his holdings entirely to McIntyre, and resigned as a director and as vice president. (Salt Lake Herald, January 10, 1895)

McIntyre also became general manager, at which time he shut down all shipments while his crews sank a new shaft that would allow access to both the Copperopolis and Champlain properties. Shipments were to resume shortly. The new shaft was to be sunk to 500 feet, at which time a hoist would be added and drifts begun to get the ore. (Salt Lake Herald, January 24, 1895)

February 15, 1895
The Ajax Mining company was involved in two other law suits concerning ownership of the mine itself. The Ajax company was sued by the English former owners of the Mammoth Copperopolis mine, predecessor of the Ajax. The new suit was in addition to the case before the Supreme Court concerning the case against the American Eagle Mining Company in the disputed title to the mines, which had been decided in June 1895 in favor of the American Eagle Mining company.

The following comes from the February 15, 1895 issue of the Salt Lake Tribune.

It is now known that an important suit alleging swindling operations will be brought against present [Ajax mine] owners by Messrs. Saulsbury, Sullivan and Burke of Tintic. That together with the suit [from May 1894] on behalf of Clays et al., now pending, is apt to make the Ajax properties and organization a sort of hot bed of interesting narratives for some time to come.

The Copper Plant people knew they were buying a fighting title when they paid Arthur Brown and others representing the American Eagle Mining Company $50,000 or more for the Copperopolis property; and that fact is apt to be ventilated among others in the general stir-up of the sweet by-and-by.

February 4, 1896
Samuel McIntyre resigned his position as a member of the board of directors and as general manager of the Ajax Mining Company. The action was the result of a disagreement with other board members over the need for an additional assessment against the stockholders, with McIntyre being in favor of the assessment. (Deseret News, February 4, 1896)

(Beginning in early 1897, the Ajax Mining company was the subject of numerous law suits, claiming that the plaintiffs had been promised certain blocks of stock as part of the reorganization that created the company in October 1894. By March 1898, McIntyre had been able to obtain 100,000 shares of stock of the Ajax Mining company, as the result of purchases, and at least two law suits. In March 1898, he requested that a receiver be appointed. -- Salt Lake tribune, February 4, 1898; Deseret News, March 15, 1898)

1898
"The Ajax, formerly the Copperopolis and the American Eagle, is situated south of the Mammoth mine and at the head of Mammoth Basin. A tunnel extends southeast into the hillside, and at its end, a point 187 feet below the surface, a shaft has been sunk 400 feet. North and south of the tunnel entrance are many open workings in the hill slopes." (Geology and Mining Industry of the Tintic district, Utah, by G. W. Tower and G. O. Smith, USGS 19th Annual Report, 1897-1898)

March 3, 1899
The law suit of Samuel McIntyre vs. the Ajax Mining company concerning McIntyre's ownership of a large block of shares in the company, was dismissed by the Utah Supreme Court, McIntyre having sold his interest in the company during December 1898. McIntyre had filed the initial complaint in January 1897, and there were numerous suits and counter-suits. (Salt Lake Herald, March 4, 1899, "yesterday")

March 28, 1899
Samuel Newhouse was elected as president of the Ajax Mining company, replacing Frank Knox, who resigned. The directors of the company were W. S. McCornick, W. H. Dickson, George A. Lowe, Henry T. Ryan, and Thomas Weir. (Salt Lake Tribune, March 29, 1899, "yesterday")

April 14, 1899
Thomas Weir, as managing director, took hold the the Ajax company and began much needed improvements, including a new hoisting plant which would give the company hoisting capability down to a 1200-foot level. The main working shaft was to to the 700-foot level and the new hoists would allow expansion down to the 1200-foot level. Other improvements included the company's own compressor plant, allowing a considerable saving over its current method of buying compressed air from the nearby Sioux-Ajax Tunnel company. (Salt Lake Herald, April 14, 1899)

January 13, 1901
"Some days ago the management, which has always been most discreet in its references to the property, has experienced some trouble in getting the energy required to dispatch the work on the 1000-foot level, and the prospecting of the vein has been necessarily retarded. However, he has now proceeded a distance of 120 feet without encountering ore, nor, according to the dip on the 700-foot level, is an ore body due for some time. In the meantime Manager Weir, through the courtesy of the Lower Mammoth's management, has been permitted to obtain accurate knowledge of the ore body in the latter's territory which has developed such a sensation and while he will drive to the top or the vein in the Hungarian vein of which the Ajax owns one-half, he does not regard the outlook as assuring. He is, however, taking from upper workings a very nice quality of ore in sufficient quantity to meet the requirements of the payroll." (Salt Lake Tribune, January 13, 1901)

April 26 1901
"At a meeting of the directors of the Ajax Mining company yesterday afternoon it was decided to install a four-drlll compressor and a new boiler." (Deseret News, April 27, 1901, "yesterday")

January 1, 1902
The following comes from the January 1, 1902 issue of the Salt Lake Tribune.

During the year about 1,250 tons of copper ore were shipped which averaged about 20 percent copper and carried the usual values in gold and silver. More than 150 tons of lead ore were shipped, which averaged about $12 in gold, 23 ounces silver and 22 percent lead.

Practically a new plant of machinery was placed upon the property during the past year. This consisted of a double-cylinder 10 by 14 hoisting engine and cable; an Ingersoll-Sargeant air compressor, two boilers, heater feed pump, air receiver, several mining cars and three air drills. The new machinery will greatly aid in the economical development of the property, as previously more or less delay has been suffered on account of the defective machinery, and because of the compressed air, which was purchased from the Mammoth company. But now the property is well equipped and good progress in developing is being made.

The Ajax group consists of the following claims, which are owned by the company: The Copperopolis No. 2; north 800 feet of the Hungarian, the West Mammoth; the Champlain No. 2; the Fraction; the Mammoth; and a large interest in the Napoleon. These claims cover about thirty-six acres of land. Mr. Thomas Weir, the well-known mining man, is the president of the company.

March 15, 1902
"Connection between the Lower Mammoth and Ajax Mining companies' properties at Tintic, to which end they have been driving for so long a time, has been affected, and bad air thus made a thing of the past. The connection was made on Hungarian ground, and after a cross-cut had been run from the 1000-foot level on the Ajax to the 900-foot level of the Lower Mammoth. The connection not only affords air for both mines, but affords an avenue of escape in the event that anything of serious nature should overcome one or the other of the outlets." (Salt Lake Tribune, March 15, 1902)

(Throughout 1903 to 1909, there were annual assessments to cover expenses, including development work by contractors. Thomas Weir was manager the entire period, and did a good job controlling expenses and using income to its best advantage. During July and August 1908 the mine operations were suspended during negotiations with smelters for a more favorable contract. The ore being taken out was copper ore as high as 8 percent copper. It was said to cover expenses, but the company still had a large mortgage, for the new machinery installed during 1901, that was being paid off by the assessments. The ore being shipped was usually noted as coming only from the 1000-foot level.)

(As a side note, Thomas Weir was active in the Bingham district when he and Samuel Newhouse organized the Utah Consolidated Mining company in 1896-1899.)

October 18, 1909
The following comes from the October 18, 1909 Salt Lake Telegram.

Loose Gets Control Of Ajax Property. -- Col. C. E. Loose and his associates have obtained control of the Ajax Mining company, and at the annual meeting of shareholders this morning they elected the following officers: C. E. Loose, president; A. C. Ellis, vice-president; P. G. Peterson, treasurer; John M. Burt, secretary. These officers, with E. G. Woolley, Jr., J, F. Farrer and R. G. Wilson, constitute the directorate.

John M. Burt is the only member of the old regime, headed by Thomas Weir, who remains in office. The selection of Mr. Burt is taken to mean the old crowd willingly surrendered the control to the new interests, and that the main offices will remain for the present in this city.

The annual report of the retiring president and general manager, Thomas Weir, was submitted and approved. In it the development work that has been carried on for the past year was reviewed and it was shown that there was a cash balance in the treasury amounting to about $6500. The development work has been extended to the 1200-foot level, and some copper ore is being taken out regularly and marketed.

As soon as the property is turned over to C. E. Loose, who is to be general manager, it is understood that arrangements will be perfected for driving drifts from the Ajax main working shaft to the Golden Chain and Cleveland groups. While the new owners were not willing to state whether a merger would be made with these properties and a new company organized, it is generally believed that this will be done. The Ajax resources to the present levels have been about worked out, while the new territory which it adjoins is all virgin ground.

November 26, 1909
The stockholders of the Ajax Mining company met in a special meeting on November 26, 1909 consider and pass a proposal to sell all of the property to the Gold Chain Mining company either as a one-for-one stock trade of Ajax stock for Gold Chain stock, or as a cash transaction at a price yet to be determined. The stock trade deal was accepted. (Salt Lake Herald, October 26 through November 26, 1909; November 27, 1909)

(The actual stock trade took place on December 17, 1909 -- Salt Lake Tribune, December 14, 1909)

Gold Chain Mining Company (1909-1932)

Excerpted from the obituary of Charles Edwin (C. E.) Loose, "In 1885, he returned to Utah and has since been one of the prominent mine owners and operators of this state. As the years passed by his investments became more extensive, being one of the heavy stockholders and manager of the Grand Central and Gold Chain Mining companies, of this district, as well as owning large interests in other companies. He has likewise extended his efforts into banking circles, having been vice-president of the Provo Commercial and Savings Bank, of which Senator Reed Smoot is the president. Through his tenacity and almost wholly through his individual effort, he developed the Sioux, Utah Consolidated, Iron King and the old Ajax mining company until it was purchased by the Tintic Standard, in which he was a large shareholder at the time of his death." (Eureka Reporter, January 31, 1929)

August 19, 1907
The Gold Chain Mining company filed its articles of incorporation. The president was C. E. Loose. The property was at Tintic, adjoining the Ajax Mining company. (Salt Lake Telegram, August 19, 1907, "today"; August 22, 1907)

March 13, 1908
"The Gold Chain Mining company is to start development of its property, it is said, through the workings of the Ajax mine." (Salt Lake Herald, March 13, 1908)

1909
The following comes from USGS Professional Paper 107, Tintic Mining District, published in 1919.

The property of the Gold Chain Mining Co. lies north of the Opohongo·and is worked through the old Ajax shaft, sunk to a depth of 1,100 feet. A part of this property was first known as the "Copperopolis and the American Eagle," later as the Ajax mine, and it is described by Tower and Smith under the latter title. The two companies are reported to have produced before 1890 ore to the net value of $1,000,000.

The Ajax Mining Co. continued its operations through the old Ajax shaft to the 1,000-foot level and shipped large amounts of copper ore up to 1907, when 8,091 tons of low-grade ore was shipped from clean-up operations. In 1909 the Ajax, Cleveland, Pedro, and Gold Chain groups of claims were consolidated under the name Gold Chain mines. The shaft was sunk to a depth of 1,100 feet; but up to the end of the year nothing of importance had been found in the lower levels.

The gross value of the total production·of the Ajax and Gold Chain operations since·1899 probably exceeds $3,000,000. The chief value of the ore is in copper, but the ore also contains $5 to $10 in gold and as rule not more than 10 ounces of silver to the ton.

December 17, 1909
The Gold Chain Mining company took control of the Ajax Mining company by stock trade on December 17, 1909. (Salt Lake Tribune, December 14, 1909)

January 1, 1911
The following comes from the January 1, 1911 issue of the Salt Lake Herald.

Gold Chain Mining Co. -- A large part of its property is virgin ground which is being systematically developed. Absorbing the Ajax it secured one of the early producers of the district, this property having produced in the thirty years of its existence upwards of $1,000,000. This property adjoins the Mammoth and Grand Central and is in the district producing part of the camp. The Gold Chain proper is now being developed through the Ajax ground of which it is in reality a continuation.

A special feature of the mine is that it is paying for itself as development work is being carried on. The ore from this property carries considerable gold and as depth gained the ore body is enlarging and spreading out. The principal workings is a main shaft 1,000 feet in depth, from which levels have been run at 200, 300 and 400 feet. The equipment is entirely new, of the most modern pattern and specially adapted for the work in hand. It is the intention of the company to work the Opohongo property through this claim. Forty men are employed and considerable new ore bodies have of late been opened up. At the present-time sufficient ore is blocked out to pay for the mine.

September 29-30, 1911
The following comes from the September 29, 1911 issue of the Salt Lake Telegram, and the September 30, 1911 Salt Lake Herald.

Colonel C. Ed Loose of Provo is president; Preston G. Peterson is secretary treasurer.

The company owns 14 mining claims: Gold Chain, Oneida, Belcher, Fairview, Sideview, California, Desert View, Napoleon, Copperopolis, Fraction. West Mammoth, Champlain No. 2, Mammoth, and Hungarian.

The company is part ower of three claims: Silver Chain, American Eagle, Don Pedro No. 2.

There are no conflicts over titles and no litigation pending.

The development work to date includes a shaft 1,150 feet deep, which was purchased with the Ajax properties. Including the old workings, there is a tunnel three miles in length, winzes 1,000 feet, raises 2,500 feet and one mile of crosscuts. They have 115 men employed in the property and are doing a lot of development work, including the blocking out of a large tonnage of ore.

The improvements on the property are extensive. They have a large hoisting plant, with engines and boilers, compressor, saw mill, office building, blacksmith shop, drills, hoist, ore bins, etc. The spur track to the ore bins has been completed and the property is in shape to output a large tonnage.

The ore is copper with gold and silver bearing quartz. The gold values are reported to average good and it is a direct smelting product. C. E. Loose, who is president and manager of the company, is confident that he has a dividend payer in this property, which carries a continuation of the old Ajax ore zone.

Gold Chain, in connection with Opohongo, has been installing a splendid new hoisting plant and otherwise equipping the mine for increased shipments of ore. This work occupied a little over a month, the last ore shipments having been made about August 18. Since that time every effort has been centered on the new work, and no ore was forwarded to market.

Up to August 18 Gold Chain was sending out about six cars a week, or 300 tons. Some weeks the shipments reached ten cars. But for weeks it never fell lower than six cars a week. This is reported to have been all of a very good grade of shipping ore. With the new machinery now installed and in perfect running order, mining men acquainted with the property are predicting not only heavier weekly shipments of profitable grade of ore, but that Gold Chain is booked as the next new dividend payer for Utah.

(In 1912, the Lower Mammoth company drove a drift from its 1500-foot level, and into the Gold Chain ground 230 feet. The Gold Chain company paid the Lower Mammoth company the costs of the work, which was 1,000 feet below the lowest Gold Chain shaft. An additional joint drift was driven from the Lower Mammoth 1200 level, into Gold Chain ground. These drifts in Gold Chain ground were solely exploration actions to develop the extent of the Gold Chain ore body. -- Salt Lake Tribune, July 24, 1912; Salt Lake Herald, December 29, 1912)

July 2, 1916
The Sioux Consolidated, Grand Central and Gold Chain mines are all owned by the same interests, C. E. Loose of Provo, and associates. (Salt Lake Herald, July 2, 1916)

(C. E. Loose sold his interest in the Sioux Consolidated to Jesse Knight in March 1919, and sold his interest in the Grand Central to the Chief Consolidated company in 1921. He apparently retained control of the Gold Chain mine until his death in 1929. In 1931 control of the Gold Chain passed to the Mammoth Mining company, which then leased the Gold Chain to itself in 1932.)

December 31, 1916
The following comes from the December 31, 1916 issue of the Salt Lake Tribune.

While the Gold Chain Mining company in the Tintic district paid no dividends during the year, it is working in that direction as fast as conditions will permit.

The Gold Chain absorbed the Ajax Mining company, which is said to have paid over $1,000,000 in dividends during its history.

The Gold Chain shipped 214 cars of ore in 1916, against thirty-nine cars for the previous year, which indicates a large degree of activity at the mine. Copper values predominated. The average value of the ore is 7 percent copper, 10 ounces silver and $3 in gold. The shipments during the latter part of the year were running about five cars per week.

The company has accumulated a large surplus revenue, which means that a great deal of development work will be done during the coming year.

Developments have been steadily pushed from the 1500-foot level of the Mammoth mine into the adjacent workings in the Gold Chain, and in the 1500-foot level of the Gold Chain, on various levels between to 200 and 700-foot levels, southward through the Opohongo ground held under lease by the Gold Chain people into an entirely new part of the Gold Chain territory, and most of these explorations have developed ore.

A marked improvement was encountered in the character of the ore, particularly that coming from the 1500 and 1550 levels.

The property is well equipped and has one of the best shafts in the district. The mine buildings are up-to-date with all the best equipment. C. E. Loose is president and general manager of the company. The other officers are J. T. Farrer, vice president; Preston G. Peterson, secretary and treasurer; W. D. Loose, superintendent.

January 15, 1918
"The Gold Chain Mining Company, another of the Loose properties, had a good year and shipped a total of 260 carloads. The year would have been a highly prosperous one for this company but for embargoes, etc., which forced a general curtailment. The mine is located south of the Grand Central and has paid $130,000 in dividends in the past. It also is under the general management of Col. C. E. Loose and the superintendency of W. D. Loose." (Salt Lake Mining Review, January 15, 1918)

(In a list of mining claims in 1918, the Gold Chain Mining company is shown as owning 21 mining claims, encompassing 72.5 acres, with the Golden Chain and Side View being the largest at 11.1 and 10.5 acres respectively, and the Copperopolis being third, at 9.2 acres. The mine was being worked by four separate leasing companies. -- Deseret News, December 14, 1918)

(During 1919 to 1927, the Gold Chain Mining company was driving a drift, following one of its veins into the adjacent Empire Mines company's ground. This drift had been started in July 1919. -- Salt Lake Mining Review, July 30, 1919; Deseret News, February 5, 1927)

(The Gold Chain Mining company paid its last dividend in December 1920.)

(During 1926, the Gold Chain Mining company was driving a drift into its ground from the adjacent Iron Blossom Mining company's 1800 level. -- Deseret News, August 7, 1926)

June 6, 1927
The board of directors issued an assessment to all stockholders of Gold Chain stock. Any stockholder that failed to pay the assessment would be subject to forfeiture of the stock by default, and the delinquient stock would be sold at public auction on August 9, 1927. (Provo Daily Herald, August 8, 1927)

(This was standard operating practice for all mining companies with a wide variety of small stockholders. The result was usually large numbers of shares, in small blocks, being sold at auction, at which time a group of existing officers and directors would buy the stock to increase their own holdings of the company, or officers and directors of a company wanting to increase their own holdings of the company and gain control. The assessment varied from one to five or six cents per share, but these were almost always "penny stocks" in which no dividend had been paid for a lengthy period of time, making the assessment a money-losing concept, with most small stockholders letting their stock be sold at auction by defaulting on the assessment. There were many complaints of short period of notification prior to default, along with no separate notification for out-of-town stockholders, since the notifications were usually only published in a local newspaper "of record.")

July 29, 1929
Charles Edwin (C. E.) Loose died at his home on Provo, Utah. Loose was the main force behind the continued development of Gold Chain Mining company.

December 24, 1931
"Early in the week a deal was completed whereby control of the Gold Chain Mining company passed into the hands of officials of the Mammoth Mining company. Rumors of the deal have been in circulation during the past month by definite announcement of the consumation was not made until this week." (Eureka Reporter, December 24, 1931)

January 29, 1932
At a special meeting of Gold Chain Mining company, the stockholders agreed to lease all of the property of the Gold Chain Mining company to the Mammoth Mining company. (Provo Daily Herald, January 27, 1932, legal notice of planned meeting)

February 2, 1932
The Gold Chain Mining company was reoganized and new articles of incorporation filed on February 3, 1932. W. Dean Loose was president and Preston G. Peterson was secretary-treasurer. (Salt Lake Tribune, February 3, 1932)

September 30, 1932
"Installation of the new hoisting equipment has just been completed at the property of the Gold Chain Mining company, situated in the Mammoth section of the Tintic mining region. The property is being operated under the direction of the Mammoth Mining company and between the two properties from 6 to 10 carloads of ore are marketed each week. The company employs a crew of 12 men." (Deseret News, September 30, 1932)

In July 1937, the entire property of the Gold Chain Mining company was leased to the Mammoth Mining company. The two companies shared the same officers and directors, with the Mammoth company owning 60 percent of the stock of the Gold Chain company.

Sioux-Ajax Tunnel

The Sioux-Ajax Tunnel company was a separate enterprise; completely separate from both the Sioux Mining company, and the Ajax Mining company.

The Sioux-Ajax tunnel was a project of the Tintic Mining & Development company. The tunnel had its starting point between the Mammoth and Ajax properties on thew west side of Sioux Peak, and was headed for the Sioux-Utah possessions on the opposite side of the mountain.

When finished, tunnel was meant to enable the companies to unload their ore by means of an underground tramway, into cars of the New East Tintic railway, on the Mammoth side of the mountain. From there it is a short haul to the Oregon Short Line and Rio Grande Western at Mammoth, so that the ore is handled but once from the mine to the smelter.

(Read more about the Sioux-Ajax Tunnel)

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