The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-03-17
purchase and Consolidation Is Prae-
ticalIy Contaminated.
UNITED STATES COMPANY
THE TITLE UNDER WHICH II
WILL BE INCORPORATED.
Running Full Capacity - Fine Ore
Bodies In the Sacramento-Flurry
LIN Joe Bowers-The Afternoon
Call-The New Exchange-The
Two MISUNDERSTANDING Mine.

The Herald is reliably informed tina
the big Bingham deal involving the
purchase and consolidation Of the o
j. d Galena, the Niagara and the Ole
Telegraph mines, has been practically
contaminated and that the money con-
sideration has all been paid in. al
though a few forlnalities and minor de-
tails have yet to be complied with and
arranged before the new Boston com
pany Will enter into full possession OF
TINS magnificent consolidated property
With its mills, hoiSts and other aces
sorry equipments, the transaction en-
bracing all of the former holdings OF
the Q, j. & Galena and Old TELEGRAPH
companies along the banks of the Jor-
dan river, including eight miles of canal
and valuable and extensive water
rights.
In speaking of this deal and possible
results, a well known mining man who
IS in close touch with the Boston pur-
chasers and the value of the aquired
properties, said:
If the enterprise is kept down on a
legitimate basis it will in time become
one of the greatest dividend-payers in
this intermountain region. In fact, it
should equal the great Ontario mine in
this respect and it certainly will if
NhN AAAeaAtt1e3 10 do anu
able as that which has always charac-
terized this magnificent property,
which, in the past, has paid over $13,-
100000 in dividends alone. TIE: con-
solidation, as a matter Of fact, takes
in the mother lode of Bingham, the ag-
gregation comprising one of the largest
and best mining properties in the
west"
The new company, soon to be organ
ZpO for he NXnIskirlc nf thaca
viii be known as the United States
Mining company. according to a Boston
paper. which. on the 18th inst con-
tanned an article on the subject as fol-
lows:
Current rumor has for some time
past told of an important mining pro-
joey in process of formation, under the
direction of the United States Oil peo-
pie, who have already successfully
launched several enterprises. Matters
are now in shape to announce that the
new company will be known as the
United States Mining company; that
Messrs. Z. A. Clark, Charles H. Cole,
and their associates viii have its man
agement; that the corporation will con-
troll several large and valuable copper
and gold mines in the Bingham can
yon, Utah, including the Old Jordan
property, and that it Will have a CAPT
tai stock of $4,000. 900, divided into
100000 shares OF the par value of $25.
The properties to be consolidated I'M
der this single mana cement have been
under a~thorOugh examination by eX-
perts during the past sixty days, and in
every instance the reports have been
highly favorable, while little or no de-
velopment work in a. systematic man
ner has been done on the properties
Copper has been found on all of them:
and better still there is enough of gold
and lead ore in sight. as shown by such
development work as has been done. to
assure the payment of handsome dfvi-
dends from the start on the capital in
vested. 1t is the opinion of the experts
and the general belief in Utah that
upon their thorough development the
same valuable bodies Of copper ore will
later be obtained that are now found
in the Utah.
The price paid for the property, to-
gether with commissions, etc, is said
to exceed $4,000, 600. Applications for
the stock have been coming in for some
time past from the people who have
been knowing to the plans in hand, and
there is every reason to believe that
the Offering viii be heavily over-sub-
Scribed- The enterprise is altogether
the largest Of its kind that has been
brought out in Boston in a long time !
and has been put into shape only after
many serious difficulties"