The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-01-24
ONTARIO DEAL
BEING CLOSED
Bamberger and Mccormick Now Ar
ranging Details at San Fran
cisco Offices.
OF VITAL IMPORT TO PARK
NEVADA-UTAH'S PRELIMINARY
WORK is FINISHED.

President Jacob E. Bamberger and
Treasurer w. S. Mccormick of the
Daly-West Mining company are now
In San Francisco, and the belief is that
they are there on business connected
with the closing up of the deal for the
Ontario and Daily mines. That they are
acting for the Daly-West company in
the negotiations is considered hardly
likely, but there is every reason to
expect that, If the properties are finally
landed on terms considered reasonable,
they will eventually be taken into camp
by the Daly-West, or through a mer-
ger of which the latter viii form an
important integral.
Upon his arrival from New York the
other day Mr.. Hamburger admitted
that negotiations for the properties
We're pending and his rather hurried
departure for the coast with the de-
parture of Mr.. Mccormick at the same
time, makes it reasonably certain that
they left in response to summons for
a conference at the San Francisco Of
fees of the companies mentioned,
where detailed information concerning
the affairs of each could be laid before
them and threshed out.
The absorption of the Ontario and
DAILY properties by the Daly-West
company or by a combination of the
ACTIVE operating COZ pOIdllOIlS u the
Park, is looked upon as a certainty for
some time in the future, and the fact
that 1t is a matter of great concern to
some of the mines whether the On
tario is completely redrained or not,
makes it appear as though Mr.. Bam-
berger and those who may have Joined
with him are urging speedy action in
order that the reclamation of the work.
ings Of these mines may not be de-
layed till the task is made too hard of
accomplishment It is pointed out that
the Ontario and DAILY companies have
exhausted their reserves in the work
and have been once compelled to assess
the stock for an aggregate of $4,000 to
keep it going. To hold on now would
mean that other assessments would
have to be levied and the sharehOld-
ers would have to bear a burden that
none would care to stand. The old
owners Of the Ontario and Daily have
reaped great fortunes through their OPP
Grafton and the point has now been
reached that whatever is done must
be Of greater benefit to neighbors than
to the old mines themselves. Owned by
these younger and more active organ
izafiOns the mines would at once be-
come assets Of infinite value, as
through them the other mines could be
drained at great depth and water for
the concentrate ton Of ores for all time
could be secured. At the same time the
great bodies OF lOw-grade in the On
tario and the new veins opened in the
DAILY could be made handsome contrib
utOrs 10 the earning capacity of any
corporation that was willing to handle
them on the scale that such ore show
ings might justify.
Everything now points to an early
contamination Of the pending deal and
the one hope is. as expressed by q
shareholder in the Daily company yes
terday, that whatever basis the old
companies decide to surrender control
upon, a clause in the contract will
make it possible for the minority inter
ests to get out on the same terms, if
they so desire.