The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-04-28
WEEKS BIG EVENTS
IN UTAH MINING
More Thar $1,500,0OO Repre-
sented in Purchases Made.
IMPORTANCE IS NOTED
TINTIc, BINGHAM AND STOCK
TON REAP A BENEFIT.


Win purchases aggregating moro
than 100000 TO its credit, the past
week in mining circles here has been
g memorable one, and what has been
accomplished must have a great bear
iTef on the promotion of precious metal
mining in this state for years TO come.
Probably the most important trans.
action wass the securing OF the great
area Of Bingham territory commonly
spoken OF as the Dalton & Lark. by
the Bingham Copper & Gold Mining
company for Il consideration amount
ing 70 3l,250,O00, and the announcement
that the corporation acquiring it WAS
OO0. 900.
The closing of that transaction means
that the great mineral zone. on the
eastern side of the district will be. pen
etrated by tunnel that win tap tie
ere .SOdieS there known to exist at a
deptk of from 1000 70 1000 feet or
from zoo to 1000 feet deeper than they
have heretofore been opened. This
enterprise alone VIII necessitate an esS-
penditure of not less than s25O,O0O and
should result in opening up ore re-
serves the extent of which may pos
SHY be imagined when it is known
tnslt expert examinations by couserva-
tive and eminent engineers place the
amount nOyy 'in sight at q valuation
Of more than $5,000.vOO
DS some the nusSe undertaking is
looked upon with doubt and misgfving
the contention being that the Bingham
company has increased its cRpitauza-
tioG 10 a sum ont OF ali proportion to
The value of its holdings If its cap
ttal is to be properly applied land the
company"s previous acts should be
taken as an earnest of its future in
sent1OHse the -doubters' fears are
groundless. for there is no question
that with the output of the properties
led hi
50, pay handsome interest on 0,O0O-
GOO. or even more.
Next TO the Bingham .coHlpany's !
great move. comes the action of the
Franklin syndicate, with John L. -DU-
bois at its head, in the purchase of the |
small piece of earth .-Tabraced in the
Humbug and 3umbug No. 2 claims al /
dint1c for $50, 600 spot cash. FOllow- /
ing that purchase came the. announce |
nent that a .pkwer drill pIaat would !
at once be Installed and work pushed /
on a vigorous scale hereafter r.
means That during the next few months
Ivo'll wiz De made, for probably 10O or |
TAI miners, as against twenty. or tbfr
" now. 1T also means that .auotbar. /
contributor to the ore marker win SOM
De m line with fifty OF 199 tons of ore
per aay. and an additional name in the
dividend column before the close of /
the season.
on top Of these occurrences comes /
the announcements that the Tinted (
states company and the CentenniaI- +
eureka win combine and erect a great Il
pant 90 reduce the ores of those prom.
critics 70 bullion and in the carrying
Out Of that plan a great army of men
pi0yrd.
Another event of the week that viii
add further 1ustre to Utah's name as
mineral producer in the near future
was the requirement of he Home
stake and Morning Glory Properties in |
south Tintic BY the I.s. Clede svndi- |
csts- That transaction includes the
equipment and operation of two sub |
stantiai hosting pIants IN a portion
attention than it has been receiving
lt means work FOR 100 moe men ia the !
aggregate and me making of at least
one more dig mine FOR Utah
These are the more important events
in the mining field Of Utah during the
of the fieh salphide ore bodies more
than 100 feet below the water level in
the old Honorine bonanza at STOCKTON
should not- be overlooked. The man.
agement Of the property. thar is now
under lease and bond TO g H Scheu |
=. =. Kimberley and Walter c. Filler.
is very reticent about the rnsgnftlite
OF the strike. but sufficient is known
TO say that Il must prove of the great
est importance 70. Utah'sr Oldest mining
lamp, as IL win stimulate activity al
ony number OF the surrounding prop
critics whose very existence has de-
pended on the success met with in
KONG below the water Lac in that I
greet old producer.
The week has been q remarkab bic. one
all around and IL indications count for
anything many more with nIst as
corded during the season E Il