The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-10-01
Mines and Mining Stocks

a o-drilI compressor. transformers pipe
lines for air. machine drills and all other
necessary equipment TO make the plant
one OF the best in the camp, have all been
bought, delivered and paid for at a cost
of approximately So, 600. and between now
and the tenth of the month mining
through three OF the company's tunnels
VIII be under way. while work on other
parts of the property will be inaugurated
as circumstances permit.
something over month ago the COM
pany began production from its upper
tunnel workings by sending down a car
load or ore a week. During September
the output was increased to two carloads
u ore a week, and at the present time
three cars week are being sent out TO
the smelters. As soon as the power drills
are placed in commission it is the pur-
pose to begin extraction from the No. 2
and No. tunnels. which have also been
driven IN to a connection with the ore
bodies, and the company will then be
shipping enough ore TO net more than 81
900 week.
In the upper tunnel workings the ledge
varies in width from four to fourteen feet.
The poorest grade OF this ore. according
to settlement sheets, runs about s.. 60 in
gold, 20 per cent lead, 3.5 ounces silver
and about 20 per cent iron. After de-
Quoting smelling, shipping, sampiing and
other charges this ore has been netting
the company a trifle better than $40 q
ton. while a better grade from the same
workings has been going over $500 in
silver per ton and netting correspondence
more.
Through the No. and No. tunnels
these ore bodies have been opened to an
additional depth of 300 feet and the val
Tes have shown some improvement. In
the company's Giant Chief shaft. below
all of these workings, the sulphide ores
have been reached. and the permanency
of the great lode has been established.
In the requirement. equipment and de-
velOpment of this company's properties in
the famous old Bingham camp nearly $780,
600 has been expended and every penny
of the money was raised abroad. While
little has ever been said about what the
company was doing. great enterprise
has been building up. and the company
shares have been regularly traded in on
the London stock exchange Now that
the properties have been placed on a pro-
ducing basis and the splendid surface inn
provements have been provided and
equipment installed. local operators are
beginning to sit Up and take notice CUES
tions are being daily asked as to what 1t
all means, and it is largely on that ac-
Count that the management was yester-
day persuaded to give the information
here related to the public.
Ore has been opened up at several otn-
er places in the property than those emu
merated but for the present the manage
ment is combining all development work
TO three out OF the lWenty-one- Grams
owned And by owned is meant that the
has bought and paid for every
foot of territory embraced in Its mold
ings the deeds FOR the last two claims
bargained for having been sent on 10
Headquarters in last nights mail Thus
has another big producing mine been add
ed to the ranks of the Bingham Oonan-
zas, and that without creating the least
bit of noise The company mas been at
tending strictly TO its business, and the
will reap the beneflts that
honest business administration Is now
heading in their direction.