The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-02-27
SOME RICH MINES
Free Silver Would Have Given
the Camp a Great Boom.
THE CENTENNIAL'S RICH ORE
j. E. Bamberger Will Make Extensive In.
vestments in Tintic Mining
Property.

81 think Tintic is a great place and is
going ahead at great rate,' said j. E..
Bamberger, who spent several days among
the mines of that fourishing camp. 81
went through the Centennial-E Eureka" he
said, land saw the fine lodges of ore that
have been recently opened up. The ore
shaft is down 600 feet and levels 8, 4, and
are being pushed. The output of the mine
has been held back for several months and
300 tons of the product are at the depot
waiting for shipment as soon as there is a
lustifiable advance in prices. The entire
ore slope is rich and little higher grade
than ever before discovered in such large
quantities in this territory
Mr.. Bamberger was inclined TO believe
that the developments in Tintic in the
spring will reveal new veins equal to the
best found there SO far, and he is putting
his money into several flattering prospects
to test his belief There are great many
companies forming that will take large
amount of capital into the camp. AT pres
emit Mr. Bamberger's interests are largely
confined to the Centennial Eureka, in
which mine he holds nice line of stock,
but he expects to invest considerable
money in other claims. 1.-THE trouble with
The camp" he said, sis that large portion
OF the latest claims are owned by poor
people without the money to
work them, and who are adverse
to making any reasonable leases
or sales Of their holdings. Here, however,
is noticed little more disposition to offer
capital such terms as will induce it to make
the venture, and the claim holders are
gradually coming to time. With fair
amount Of outside capital Tintic will be-
come the greatest producing camp in the
west.
81 hadn't been there for three months.
and noticed many fine new residence and a
number of good business houses. l feel
SATISFIED that the new railway will be built
and this will help the camp a great DEAL
though find the railway accommodations
now are very fair.
"All mining will be retarded little by
the failure of free coinage, and had the bill
passed Tintic would have seen the greatest
boom during the coming year ever known
to mining camp However, it will not be
long before something will be done in the
interest of silver. l think that after Con-
gress adiourns the persons who have been
manipulating silver will withdraw and sill
yer will grayitate to S1.03 and, perhaps, to
S1.05"
With silver at the present price Mr..
Bamberger believes that the manufacturers
who use large quantities of it in the arts
VIII ouy up large STOCKS OF IL, enough TO last
them several years. When silver went
aboveS 81 the manufacturer stood aloof and
kept working off his old stocks. The de-
mand from India, where silver is the stand
ard coin, has been very small.
Legislation has already been enacted for
the building OF extensive systems of rail-
ways, and should this scheme be prose-
cuted, it will require an immense amount
of silver to carry it through. India, being
a non producer, must get its silver from
the markets OF the world, and this will go
great ways towards reducing the surplus
now said to exist