The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-10-17
OUTLOOK FoR T1xTIc.
Field For nvestments-An OptiOl
Wanted On South swansea.

Field For Investments--An Option
Wanted on South Swansea.
If there is any one in this western
country who thinks for one minute
that Tintic mining district has fairly
more than outgrown its swaddling
clothes. that person is clearly off his
base and liable to get left if he ignores
the mines of this growing and progress
sive camp; for in the near future Ilntic
is sure to develop into one of the most
magnificent producers of the precious
metals TO be found in this or any other
country.
This statement is not based on the
fact that a great many promising prop
critics have been developed in the dis
trict within the past few months, prop
critics which are now heavy producers,
one of which, at least, has found place
On the dividend-paying list, but be-
cause il IS we'll known among some
of the best-informed of our mining men
that a heavy syndicate has announced
its intention of investing $500, 600 in the
district within the coming year, while
there are many capitalists who are
making arrangements to make heavy
investments there within a short time.
1t is an undenidble fact that the
mines of the district are now looking
better than ever before, and that the
developments during the past year, the
amounts expended in the erection of
hoists and mills, have been enormous;
and STILL a beginning only has been
made in the true growth of the district,
Notwithstanding the fact that the mines
of the camp have already paid at least
$40, 000,0 900 in dividends, and recent de-
velopments show that the mineral de-
posts of the camp have hardly been
touched as yet.
One of the greatest enterprises under
way in Tintic just now is the driving
of the great Sioux-Ajax tunnel, which
is to cut through the mountain from the
Ajax mine, near Mammoth, to the
Sioux-C Consolidated mine on the other
side of the range. This tunnel is so
large that a team and wagon can be
driven into it. 1t will cut under the
mountain at a great depth and in its
course it is certain to uncover several
valuable veins of mineral. and thus de-
velop properties that otherwise would
have remained idle because their own
ers We're not able to do this work for
themselves. Under the present condi-
ton of affairs, however. ds soon as the
tunnel pierces the ore body, the own
ers of the lode can resume operations
at once, thanks to the enterprise of
the originators of the scheme, and be
gin the extraction of ore, as, at such
a depth, the metal values should be of
high grade.
Tintic, as district, is making rapid
strides forward and a number of big
deals are in contemplation for the
Camp, some of which are immense in
their magnitude. One of these con
Germs the South Swansea mine, which
property, The Herald is reliably in
formed, is badly wanted by a big min
ing operator who is well known in this
city, and who has made a proposition
to the company that he will give a
dollar share for the capital stock of
the organization. This offer is to hold
good for several days, as one of the
officers of the company is now absent
from the city
Whether or not the company will ac-
cept this offer remains to be seen
Every one knows that the mine is
surely bonanza. and it may be that
some of the stockholders may be- un-
willing to part with their stock at this
figure.