The following is the report of the regular meeting of the First Presidency and the Council of the Twelve Apostles held this morning in the Temple at 10:30.
... Bro[ther]. Talmage reported a visit made by him to the Dream Mine near Spanish Fork [Utah]. He found conditions most lamentable. The shaft has been sunk between 1100 and 1200 feet at a cost of over $100,000. He went clear to the bottom and examined the work being done. It was suggested that he express his findings to Bishop [John H.] Koyle, which he did in the presence of thirty workmen, telling them that if he were making a professional report he would advise those engaging his services not to put a penny
into the mine, that from a geological standpoint there was no more promise of finding ore in that mine than there could be in a clay bank. Bro[ther]. Talmage said he got the Bishop to tell his story as to how he came to open up the mine. He said that eighteen years ago he had a dream, and in his dream he found himself on that hillside, when it was made plain to him that there was a body of ore in that ground. He dreamed it a second time, also a third time, and then he said he was carried in the spirit into the mountain, and went on to describe the different stratas of material that he would strike before striking the ore, and the Bishop thinks now he is very near ore. Thirty workmen were engaged working for capital stock, and applications are being made from all parts of the State for stock at $1.50 share, and they were selling, he was told, about 300 shares a week, and about 60,000 shares in the treasury unsold. In order to show the absurd way in which the mine is being worked Bro[ther]. Talmage said that at the bottom of the shaft only two men can work at a time, and it took eight to eighteen men to wait on them, that is, to receive and send to the top of the mine when the two men dig, and to pump water. He showed them that by going to the hillside and tunnelling in, they could easily have accomplished at an expenditure of $10,000 what had cost them over $100,000. But the Bishop explained that the shaft was sunk exactly where it had been shown him in his dream. The Bishop also remarked that it was made plain to him that they would have to work for a long period, and that only the faithful and those who remained true to the mine, would reap the benefits.
President Smith now drew attention of the Council to what is called the Majestic Gold Mine near Brigham City [Utah], and suggested that Bro[ther]. Talmage and Bro[ther]. Fred J. Pack make it their business to examine that property, as he had reason to believe it was another such thing as the Dream Mine. ...
[Source: First Presidency and Quorum of the Twelve minutes]