The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-23
BIG sum FOR 4
COPPER MINE
Salt Lake Man Gets Option on
Famous Ludwig Bonanza
for 100000.
EASTERN TALENT IN DEAL
PROPERTY ONE OF RICHEST AT
YERINGTON.

After having the Yerington Times pol5ed
unoer his nose yesterday and having his
attention called 70 a story concerning the
reported sale of the famous Ludwig boz
nanza copper mines for Sl.000.0O0 cash. Jo-
seDh r.. Cane. who is just back from San
francisco reluctantly admitted that he
was concerned in the deal lie stated
however. that the published report that
the mine had been bought for 100000
cash was am error.
Max JunghandeI. "A prominent German
mining engineer and geOlOgist OF Tono-
pay, and myself said Mr. Caine, "have
Deen trying TO land the Ludwig property
Tor eastern and Salt Lake people for a
month past. We finally concluded ncgo-
lldtOnS and secured an option on the
property at San Francisco last Thursday.
We had TO make q stiff payment 10 bind
the bargain, bat the terms OF the con-
tract arc such that we have eight months
In which TO make final payment and Sc
cure the mines. The attemDt TO secure
the mine WAS made at the instigation Of
powerful eastern and Salt Lake operators.
The Ludwig Is owned by close corpora
ton. controlled i'm its entirety by a com
hlnation or Michigan lumber dealers and
The owners of the Michigan Steamship
company. To get the owners TO name "A
price Tor their mine and then secure per-
mission 20 have 1t examined was not
such an easy task. but we accomplished
~. Mr.. Junghandcl then made hurried
examination and report. report that
was later supplemented with another.
be purchasers. We were then told TO go
ahead and get the ground, if possible.
Mr. JunghandcIS report shows that there
IS all of S2,O00,O0O worth Of ore in sight.
while the estimated reserves amount to
twice that much. The possibilities of the
proposition are beyond the cOmprehen-
sion OF anybody. The preliminary exam
1natiOn and report made will be followed
eat once by the personal representatives OF
the purchasing syndicate and notification
of the first reports will result i'm the sale
of the mine. without doubt"
The Ludwig has been one of those rich
and rare propositions that has earned
good money and gone along without max
ing any morse i'm the world In prosecuting
development work last year $4,000 worth
of rich ore was shipped and great masses
OF rock that would be counted as sensa-
tional in most any other copper camp
were piled on the dumps. The property
IS opened through vertical shaft down
400 feet ana for 30 feet more through an
incline. From the surface TO the bottom
claimed the ores will average better than
- per cent copper. Figuring at half that
and allowing l6c per pound for the metal
there is now i'm sight enough ore to justi-
fys the conclusion that the reserves are
worth more than double the purchase
price.
The mine is splendidIy equipped with
hoisting machinery and q pumping plant
that cost $4,000 TO install. The latter was
thought the mines lowest level would be
lard proposition To drain. The new
pump was started and in twenty minutes
the mine WAS free Of water. The pump
has since been idle, because there was
nothing for It to DO.