Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-01-24
GIANT CONSOLIDATION
UNDER CONSIDERATION
Relieve CoIc-Ryan Crowd Centcm-
plates Merger of Pnchc Mines Us
We'll as Large Bine hnm Mines.

According to a story by a new ioih
correspondent for q western puoica'
ton. the Prince Consolidated mine al
Phoebe Is under option TO syndicntc
of eastern capitalists Local ofhcials
are non-committaI on the subject rms
announcement lends credit to the rum
or that has been ailoat ior seserai
months of a giant consolidation whicn
contemplates the merger of not only
a number of large Piocho mines, put
mines at Bingham, DeeP Steen' ~ ~
City and Ely.
All the matters connected with the
AFFAIR have been kept most secret
Through various agencies the WORK
has been going on and boillnu II III
the mine owners have been working IN
the dark. naming their pr,ee anu .neir
terms with some reputable engineer
acting as the between man.
For several months II has been
known that q deal has been on for n
number of big properties In Bingham
Canyon. The Bingham-Butte property
has been the center OF this comDina-
ton which involved four largo groups
of properties. on the Bingham-Buttc
there Is some excellent orc and tun-
mel is now being driven TO demonstrate
moro definitely the value OF the prop
crty. This consolidation would give a
large acreage In the very heart OF
Bingham.
1t Is understood that practically the
same people have made negotiations
for the Bingham Butte as have been
concerned with the Prince ConSolidat-
cd deal. The class of ore that could
be obtained and the great bodies oil II
that could be developed in Pioche ana
Bingham has led TO the bclief that
the Cole-Ryan crowd Is pushing the
10 n controlling the
smelter situation of the state.
Further, IL is declared that 1t is moro
than a rumor In regard TO the Cole
Ryan people attempting to get pos
session or control of the Ohio Copper
This company could furnish a large
tonnage for the smelter and with Utah
Consolidated ore 1t would have an eX-
ccllent base for smelling the ore.
RELATIONS MORE CORDIAL.
The relations of +. Augustus Heinze
and the Cole-Ryan people have become
more cordial of late and 1t would not
be improbable If his interests became
more closely allied with that of the
International Smelling G. Refining COM
pany. This would take with it the ores
from the Ohio Copper and the contract
for the Silver King ores in Park City,
which are now diverted to the Amcrl
can Smelling * Refining company at
present.
On account of deal which is now
on for the Western Utah Copper COM
pany mine in the Deep Creek district,
work has been stopped there for some
time Hcinze is one OF the chief inter
ests in this company and as it Is be-
lieved the deal has a great chance of
being carried out. it was not believed
to the best advantage of company to
continue development work.
The Cole-Ryan people arc now among
the heaviest interests IN Ely, and there
has been considerable talk of a big
consolidation there, The exact scope
of the big deals that are now on are
hard to contemplate. There is plenty
of reason to believe that large corpo- |
ration is reaching out TO consolidate |
sone of the largest and best properties |
in Utah and Nevada, or to secure ore |
contracts which Will make the Inter |
national smelter the largest thing of its |
KIND in the west.
The smelter Is being built with a |
small capacity. but this will undoubted- |
~ be Increased within q few months |
after IL starts next July.