The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-12-29

80 Especial to The Heraid) ..
= New York. Dec. 2S.-It is relia- :.
- bly, reported here this afternoon i
:. that a deal involving the sale of :.
- the control of the ontario and Il
= Daily mines. in the Park City, -
- Utah, district, has been consum- =
= mated. Jacob E. Bamberger, =
:. president of the Daly-West Mining =
:. company, is the purchaser. a ::
- heavy payment on the purchase -
e price has been made and the final :.
= moneys. il is stated, Will go to the =
- vendors between now and Monday =
- night. How many shares in each -
- company change hands through :.
- the transaction cannot be learned, -
= and the price is almost as much of -
y mystery. owing to the secrecy -
- with which, the deal is being -
= hedged about. 1t is believed that :.
- Ontario is going in at So and DAILY -
:: at about SO a share. ::
The news conveyed in this message
will be complete surprise to the local
mining world, or all but a small frac-
tion of 1t, at least That the informa-
ton is correct there is not the least
room to doubt. That the deal has been
made viii cause all kinds of rejoicing
I'm the Park, where a change of owner
ship In these properties has been prayed
for every minute during the last ten
years or more.
The Ontario has a record for having
paid nearly $1,000 900 in dividends; the
DAILY has enriched it's shareholders to
the tune of over $5.000.000 and yet it is
positively known that both mines are
capable. under prevailing conditions
n Of
erty to give them the attention they
deserve, of yielding many millions
more.
viii Go to DaIy.West.
While there is nothing In the dispatch
TO indicate il. there is every reason to
believe that Mr.. Bamberger has finally
accomplished his hearts desire with a
view of having the Daly-West company
take over the mines and handle them
as an asset of that powerful company.
When he left here for the east a few
weeks ago the object of his mission was
not divulged. The purchase of the
properties, as stated in the dispatch,
makes it plain why he decided to spend
the holidays away from nome. The
closing of tho deal clears up some other
things as we'll
Things That fastened Action. 5
drifting down from Park City for two
or three weeks past to the effect that
whaling big strike had been made in
Daly-West territory, close to the boun-
dairy lines dividing that property from
the DAILY. but there was no one here
from whom a verification could be OBJ
tanned. Within a week it has been re-
ported that this ore body was being
followed on a line corresponding to the
Days 1.000-foot level, and that the
latter property was sure to hold a con-
1inuation of il. Facts were unobtain-
able. but the sequel shows that those
who were presumed TO be guessing were
on the right track.
In the meantime TIE work of clearing
out the Ontario drain tunnel and re-
lieving the mine of its pent-up waters
has been progressing rapidly until now.
it is understood, not more than 500 feet
separates the workmen from No.
shaft. That Mr.. Bamberger has been
kept advised as to how this work was
Progressing now seems certain, and that
VT has been a factor in hurrying him to
close the deal is also evident, as he
probably realized that his long-cher-
ished purpose of gaining control of
those mines would be greatly handi.
capped after drainage and the full
reclamation Of the properties had been
attained. He has moved just IN time
and he is TO be congratulated upon his
foresight.
Mines Cheaply Secured.
If the figures given in the dispatch
are correct, the control of the proper
ties has been secured on a basis of