The daily morning journal and courier., 1899-08-10
4 LOC1L MINING COMPANY.
To Develop Claim In the Rich Copper
 Fields 1f Utah,

lie DlllB ldHl anu EdGltIIl SbpDti
 Mining company, with eastern head
 quarters in this city and oiiicered ir
 great part by prominent New Haver
 business men, is meeting with great sue
 cess and large blocks of the stock are
 being taken by investors of this city
 The officials of the company say that
 the fact that the control of the com
 panys interests is in the hands of New
 Haven men gives the company pres-
 tige here and is sufficient proof that it
 is not a stock jobbng scheme but a
 bona fide endeavor to develope valuable
 mining property with great apparent
 possibilities. .,.
 w. s. Tucker secretary of the com pany, says: "The company controls a
 tract of eighty or ninety acres in the
 center of the big copper strike country,
 about tWenty-six miles south of Salt Lake City, Utah, and on the line of the Rio Grande and Western railway. The
 company was enabled to get this prop
 erty at q less figure than surrounding
 property has been sold for because it
 was tied up in options prior to the rich copper strike there. The property was originally prospected for gold and silver and lead, which metals are found there in paying quantities now, in sufficient quantities to pay the expenses of min
 ing, leaving the income from copper net.
 This is the opinion of mining experts who have carefully examined the ores.
 'bTWn pn the Hio11a n Row ba biggest mine in the camp, in which the Jersey Blue group of the Bingham East ern company, is located could have been purchased for s25,0O0 but a year ago parties known to the officials of the Bingham Eastern company had an op- tion for $125,000, the option expiring be- fore they could get the money to close the option, that being previous to the copper strike. About six months ago Samuel Newhouse disposed of one-third interest in the Highland Boy, to the Standard oil coterie for 4,O00, 900, and to-day they hold it at $1500O,000 The Highland Boy vein heads direct to the Bingham Eastern property, this latter property being located on what is called by the experts a well defined vein.
 The property on the opposite side of the Highland Boy known as the Cuba property, with an acreage barely one third of that of the Bingham Eastern company's claim, has struck an inch vein which shows 15 per cent. copper to the ton, and $14 gold to the ton, leaving the copper net profit. This vein has been opened within six feet of the Bing- ham Eastern company's property line. Adjoining on the southwest is the Phoe- nix, large producer though of less acreage than the Jersey Blue group, controlled by the Eastern Bingham company. It is understood that the of- ficials of the Bingham Eastern company have been approached with suggestions to combine their property with the Phoenix and Cuba interests, but the of fers have been declined. One-third in- terest in the Cuban was sold in Boston in April for $100,000, the Cuba owners having paid but a fraction of that amount some months previous and prior to the copper strike.
 "Still further north on the same vein and adjoining the Cuba, is the Reading, another rich vein entirely controlled by the Standard Oil people. No claim ill this camp has been worked below the oxydized zone and failed to pour out a rich body of copper. On the eastern boundary is the Wall group which has been banded for $3OO,OoO, $5OO00 cash down by Captain De Lamar of Salt Lake City This transaction was made | before the Bingham Eastern option was ! secured and since the strike of copper | was made. That purchase, though ad-, joining the Bingham Eastern property | ny, fho oct ;s,N ~l.A l..
 side of the main vein and was pros- l pect pure and simple, pick never hav- ing been driven into the soil there, so it | is said, prior to the purchase.
 ; About $S5,000 worth of gold, silver and lead ore has already been taken from the Bingham and Eastern proper ty by previous owners, who worked in primitive fashion, doing what miners call "gophering' or surface work The company intends to begin this month to develope the property on large scale. The company will not be at expense for a smelter as there is a shelter within mile and half which can do all their snelting work and it will only be nec- essary to build crusher at compara- lively small cost"
 The company is q local concern that is rapidly coming to the front and cash are coming in daily. It will only be short time by present indica- tions before the offer to the public will be withdrawn and the amount of stock to be given to the public can at best last only a few weeks longer. The pres ent expectation is that the stock will not be obtanable at present figures much after the first of the ensuing month. The headquarters of the com pany are in rooms 215, 216 217 First Ma ; tional bank building, corner Church and Crown streets, and those desiring can always receive information there con- ] corning the company and its property.
 - . TEMPERANCE DAY