Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-10-02
FORTUNA Mine
PURCHASE URGED
Continued from page i

find that these consist OF the Mon
tana-Bingham property and tunnel,
the Valentine location, the IieHaukee
location, the Thrush location and the
tCTtUna; with the exception OF IT,.
Montana-Bingham the company does
not possess title to any OF the others,
but holds the same under option OF
purchase. the conditions OF which re
quire fhlfillment in order that the fee
simple OF all the properties will be
vested in the Montana Bingham Con
solidated Mining company
In addition TO the foregoing. the
company owns $4,000 shares. and 10
per cent of the net proceeds OF thu
Bingham Amalgamated Copper Co.,
consisting CT 800 acres Of good ground
The amounts still to be paid TO acquire
the Thrush, Valentine and Tiewaukee
properties are comparatively small,
amounting to $3.50 for the Thrush,
SIS. 900 for the Valentine and $1,000
for the Tiewaukee, in all $69,2JQ.
Wants Clear Titles
This ought to be provided so tina.
the clear titles to these properties may
be obtained. Now IN regard to the
Fortuna, 1t is the part Of wisdom that
the full ownership of this be secured.
and in order to do this the interest Of
Governor Bamberger should be Oh
tanned and this can be done by q stock
payment.
LAS to the Higgins quarter interest,
this consists OF small cash payment
and the balance in stock which can he
converted into cash. The sound thing
to do is to acquire the absolute con.
troll of all the properties. Instead Of
the Montana Bingham having 45-S0ths
Of the Fortuna property, the eXpendi-
ture of small amount Of cash and
some stock will secure the whole in,
terest,"
The report refers to an examination
made of the Fortuna property by A.
Werner Lawson of the University of
California. The examination of Mr..
Lawson Corroborates one made by
Harvey Weed. "He has already gone
through he Fortuna and is highly
elated with what he saw" says Nj.
Ballentyne of the Lawson examination.
aAOIuCI SSlIAS StoISAhCAI VA
Mr. Rallentyne is that "the Fortuna
payments can be taken care of out OF
the net mill earnings with sufficient
left over to carry on the development
work in both Fortuna and Montana
Bingham tunnels"
He urges further investigations Of
the properties by the stockholders. Il
believe the knowledge | have gained
would be of use to you," he writes.
ITO sum up my conclusions" he
writes in part, (which are the result
of careful investigation and consider
alton of the whole proposition-in the
combination of copper mining proper.
ties consisting of the MOUNTAINEERING
ham, Tiewaukee, Valentine, Thrush
and the interest in the Bingham Anal
gamated Copper company, the Mon
tana. Bingham Consolidated Mining
Co. possesses one of the most valu-
able copper mining propositions in the
Bingham district, noted for its rich
copper deposits.
Location Favorable
"The location Of the mines could
not we'll be more favorable than they
are in that they have all the requisites
necessary to their successful and eco
nomical operation. The first neces-
sary element is the ore which is pos
sessed in enormous quantities, con-
sisting largely of ores of sufficient
richness to be shipped directly to the
smelter, and other ores also in large
quantities averaging per cent copper
for milling or concentrating purposes.
Another necessary element is re-
liable supply of water; this is possess
ed in quantities at this time, suffic.
lent to mill or concentrate $50 tons Of
ore per day and with the further de-