The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-04-07
$4,000 PAID FOR
BINGHAM PROPERTY
Walls Tampa Group Goes to
Tintic 81. & D. Company.
MEANS A NEW SHELTER
AGn COMBINING OF BINGHAM
AND MERCUR ORES.

one Of the most important deals con-
sumnated in this city for long time,
and one that means If,ore than appears
on the surface for Bingham, and Tin
Tic also. was that closed yesterday by
Colonel r. a Wall win the Tintfc Min
ing & Development company = West
Virginia corporation, of which George
II Sobinson Is the local representa-
tive
ne deed of conveyance filed yester-
day carried revenue stamps sndicaflpe
mat Inc colonel had received $3.50 900
.AOt me 4ampa, YamDa Fraction mer-
go mercer No. :, Mercer No. 3, Key
= ilc Key Fraction patented lode claims
~ west Mountain district. The prop
e.tyis located along and upon the apex
~ t9e Highland Boy ledge, to the east
MSrd from the territory wned by the
l. tan CONSOLIDATED Mining company.
Colonel Wall has beer working a
Hunlpef OF years upon the development
dh9 acquisition OF the various claims
I'm pl3s'ng the group, and has. accord
ING 70 current report, secured a prop
10y OF great value, as il yields "A quail
10y OF ore approximately Of the same
: Ndiue and characteristics of the High
land Boy. TIE latter property was a
l@W years since acquired by Samuel
NeWhoase tor the comparatively insig-
niucdnt sum Of perhapS SEQ 600 and sinh
t'htaJned enormous bodies of iron-cOp-
per sulphldes, carrying gold and silver.
and the property was acquired a few
Years since by STANDARD OIL interests at
something over 50 OeO. 600. and it is be-
4eNed at toe present time is producing
ap0ut fS-soc,O0 per annum.
since the acquisition of the Highland
Roy there has been considerable pros
tpectfiiS and speculation among the
various prospectors Of the district TO
ascertain the position of -she ape, of
TINS vein TO the east of that Trol .ertv
ana II Is entirely due 10 Colonel Wallis
patience, industry and perseverance
that is finally granted to him the prize
he has now disposed Of the property
Tor very substantial cash considera-
a boli- IND has joined interests with GER
Gam influential eastern gentlemen Of
wealth. who win now proceed. under
mis- direction. to develop the property
Win view of Ultimately joining these
ores with Tintic silica. which viii en-
brace practically the same operation
IhaJ - now being conducted by the
Bingham Cold K Copper company at its
new smelter.s
* is learned that the company acquir-
ing this property has an ample cash re-
serve TO carry out the deyploDmen5 of
the scheme to a successful issue Ne
gotiations nave been under way for sew
eral months and that the Wall prop
cry mas been closely scrutiniZed by
tcapable miuing. engineers representing
know, and il is also known that during
thepast few weeks the mine workings
have disclosed bodies of ore of exceD-
tional values in gold. silver and cop
Der.
The Tintic Mining & DEVELOPMENT
company is corporation that Gas been
known in Ctah during the past five or
six years and begun in this state by Sc
curing large areas in the Tintic district
Where, Tor several years pdst. it has
been driving deep tunnel through the
Mammoth range of mountains. While
there has been no work done upon this
property during the past eighteen
months as evidenced by the records of
acquiring territory and adjusting titles
fhat otherwise might have resulted in
serious litigation. The tunnel has pene-
rated TIE mountain a distance of about
4snpo fee and II is reported by en-
uioyees who have worked there that
they have encountered several veins.
but have-nOt. up to this date, encount-
cred ore in payable quantities.
II is understood. however. that work
viii be TesUmed Immediately in this 70
caiity. mo mat prospecting viii be Vsig-
oreusly carried on until the property
is put IL the list of active producers.
The machinery for these operations has
been lying in salt Lake City in the
short Line yaTis for a number of days
past pending the result offnegotiations
apressor and a hoist caDable OF going
. 900 feet. IL is learned. win be installed
at the Bingham property within the
next few days. and work wiz be pushed
there 81 well as in Tintic with the ut
most yigOF.