The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-08-05

Yesterday morning Colonel E. A Wall
closed a deal with Messrs. Isaac and
Joseph Jennings, whereby he becomes
the possessor of the Yampa group of
six patented claims at Bingham. The
sum which the colonel is said TO have
agreed to pay for the property is $225,-
000, though ne viii not acknowledge
that the amount involved is over $l25,-
000
The contract under which the Messrs.
Jennings surrendered their lease and
bond on the property calls for the con-
tinuance of development work during
the life of the colonelS option, which
runs for about eighteen months yet
According to the terms of the lease,
which has also been turned over to the
colonel, 10 per cent. royalty will have
to be paid on all ores marketed UP to
the time of discharging the bond held
: ON the property by the Messrs. Jen-
nings and obtained by them from the
other nine Joint owners of the ground.
The sum of $1,000 was put up by the
scolonel as an evidence of good faith on
his part. and The next payment, the
amount of which the purchaser de
clined to give, is to be made by the
list Of January next
The property adjoins the Highlan.
No. group as d neighbOr on the south
west and negotiations for its purchase
have been under way FOR the past six
months.
Colonel Wall declines to say so, but
the general impression is that the
ground thus tied up. as well as the
Wall No. / group, Will eventually be
come part and parcel of the De Lamar
Wall combinations possessions. Wheth-
er that proves to be the case or not
there is no question that the addition
of the Yampa viii greatly enhance the
value OF the coloners No. l group, for
less than a month ago the ledge was
cut in the S50-foot tunnel on the Yampa
and an immense body of high-grade
sulphide copper ore vas opened up. the
vein being between thirty and forty
feet wide.
The Yampa was located over thirty
years ago and was worked originally
by William Jennings The first 450
feet of the tunnel which recently opened
UP the vein was run through hard
quartzite with black powder. The work
since 1896 has been done by the heirs
of the original owner, with the eXcep-
ton of what has been accomplished
since Messrs. Isaac and Joseph Jen-
nings took a lease and bond upon it,
AT a point some 200 feet back from
where the vein. was cut in the tunnel
and the vein at that point produced
several hundreds of tons of first-class
ore, besides accommodating a dump of
1000 tons or more of second class.
Isaac Jennings, under whose man
agement the property has been devel-
oped. gives it as his opinion. and that
opinion is shared by all good miners in
Bingham familiar with the ground
that the Yampa contains the same
strong ledge which has made the High
land Boy famous.
Mr.. Jennings said yesterday that he
was now satisfied with his work at the
mine and was contented with the deal
which had been made. He and his
brother Joseph took hold of it as a
prospect, and through a tenacity of
purpose that would have done credit to
a Napoleon, have made it a mine and
sold it for a price which will amply
reward them for their pluck. The bond
held by the two members of the Jen-
nings family from the other owners
called for 100000