The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-23
COLE IS AFTER
SILVER KING
Heinze Believed to Be With Him In
Deal for Many Utah
Mines.
WALTER FITCH THE AGENT
BUTTE OPERATOR MAY MAKE
SALT LAKE HEADQUARTERS.

From the information that is gradu-
ally leaking out the conclusion has
been reached in welI-informed local
mining circles that a combination every
whit as formidable as the American
Smelling, or Guggenheim. aggregation
has decided to take a hand in the min
| ing and smelling business Of this coun-
| try and rank with the best of them
| The Utah field is not to be left to the
American and United States companies
and the Bingham Consolidated cOmpa-
ny's mines and smelters are not to be
| absorbed by either Of the big concerns
mentioned as having captured them, it
| is declared.
An entirely new deal is being worked
out and, if the men who have been
working to get in touch with what IS
doing are on the right track, IL will not
| be a great while until the producers OF
this western country are better pro-
| tected through strenuous competitions
than they have ever been.
Bingham, Park City and Tintic arei
each to be represented in a combina-.
| ton at the head OF which, the oraclesi
| state, will be found the guiding spirits
| in the United States Steel corporation
and F. Augustus Heinze. The great
/ Silver King mine and possibly other
| arm lily DOLd1EdS are 10 De ldh6IE
/ into camp, as are also the properties
| Of the Bingham Consolidated, including
/ the smelterS. The mines at Tintic de-
| ciared to be headed in the same direc-
/ ton are the Eagle & Blue Bell the
| Grand Central, Victoria and Mammoth.
/ The option on the control of the latter
| stated yesterday as having been Sc
cured by the Guggenheim forces, has
not gone to them at ALL according to-
the latest pointer on the subject.
Silver King in Deal.
For the past several weeks, it is said,
/ Walter Fitch, formerly manager for
the United States company, and an en-
| gineer whose relations with the steel
/ corporation magnates is understood to
/ be close and friendly, has been inves-
! tigating mines at the Park. Those who
| ought to know state that most of his
| time has been spent at the great Silver
King, and the belief is expressed that
he has been there in the interests Of the
| big com bination that has been formed
| by the interests mentioned above. Mr..
| Fitch is the man who is believed 10
/ have tied up the Grand Central, Vic
| toria and Mammoth mines at Tintfc:
he is also believed to have at least a.
tentative call on Park City's big bo-
nanza and possibly other mines of that
/ district, and the expectation is that
when the deals have all been rounded
| out. he will be found to be the man at
| the helm.
! Ex-senator Thomas Kearns and Da-
vid Keith, the chief OfficIais OF the Sill
yer King company, were but recently
/ in the east, presumably looking into the
merits of printing machinery. Among
/ the places visited, according to Mr..
/ Kearns himself was Duluth, the home
| of Thomas T. Cole, the one man of the
steel corporation who has the manage
| r7oopf of the coT-r1Oraff aOsS mining
! terpriSes, iron and other metals. II is
/ now claimed in this city that 1t was
| during that trip that the big Park City
operators were asked to name terms
for the surrender of the mine, and that
its examination has since been taken
up.
Heinze Coming to Utah.
| Following that piece of business and
on the heels Of the knowledge that the
war I'm Butte was as good as ended and
| that Mr.. Heinze would be at liberty to
take up new things. the latter's experts
were dispatched to Utah to make a
thorough examination Of the Bingham
Consolidated properties and the mines
! of Tintic mentioned. Heinze himself.
it is stated, is planning to make Salt
Lake his headquarters in short time
It has been pointed out that Mr..
HeinZe sold nothing to the Amalga-
mated company but the mines the title
to which we're in dispute. To see that
these properties should be worked and
that the interests he may have retained
in them should not be made less vaTu-
able. it is believed that he insisted upon
having his friend, Mr.. Cole, placed IN a
/ position where he could have a say In
what manner they should be worked.
Now the scheme is believed to be to
combine all the mines at Butte con-
trolled by Heinze, together with the
Heinze reduction works, and take IN
properties in Utah and possibly in Ari-
IONA, as well, and make them form the
/, basis Of a corporation as powerful as
! United States.
Lead Smeiter Likely.
? That the camp of Park City is being
: invaded is conclusive evidence in the
opinion of operators who are watching
the trend of events, that once the deals
are closed, a lead smelter will be added
to the equipment of the Bingham Con-
solidated plant and the new corpora
ton will at once take a hand in the
, custom smelling business Of the west
and treat all classes of product
Nothing has yet cropped to the sur
face concerning it, but there is a we'll
grounded suspicion that the steel crowd
, will also reach out into Stockton, Alta
: and possibly other camps of this region
, for the sulphide ores that the mines
are capable of furnishing. Mining men
| I'm close touch with the situation say
if the plans are carried through on
, anything like the lines believed to have
been laid down, the western country
: and its mining enterprises viii be given
an impetus such as was not dreamed Of
a year ago.